Imaage: Fortune
Amidst dramatic confusion, Jeff Bezos’s coveted title of being the richest man in the world was quite short-lived as Microsoft founder Bill Gates reclaimed the top position once again on Thursday.
Jeff Bezos’s coveted title of being the richest man in the world was quite short-lived as Microsoft founder Bill Gates reclaimed the top position once again on Thursday.
This happened because the Amazon’s stock dipped nearly 1% to $1,046.
On Thursday noon, the e-commerce player’s shares have been trading positively, touching $1,0831.31 Bezos’ 80 million shares in the company were valued at more than $87 billion during the peak.
Forbes reported that as the markets opened on Thursday, Bezos’ net worth was around $90.6 billion, which was $0.5 billion more than Bill Gates.
The magazine added that he would have been the ‘undisputed leader’ if he had not given away his wealth towards philanthropic causes.
As a 77% decline was reported in quarterly profit due to heavy spending, the founders’ ranking plunged heavily.
In the after-market trading, shares of Amazon fell by another 2%.