Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Amazon boss Jeff Bezos set to lose 'World's Richest' title
  • Business

    Amazon boss Jeff Bezos set to lose 'World's Richest' title

    Siddhant Pandey
    Written by
    Siddhant Pandey
    Twitter
    Last updated on Oct 25, 2019, 08:30 pm
    Amazon boss Jeff Bezos set to lose 'World's Richest' title
  • Amazon founder and CEO Jeff Bezos will soon have to give up the title of the world's richest person as the Amazon.com Inc. stock dipped in after-hours trading on Thursday.

    Reportedly, Bezos lost nearly $7 billion in stock value on Thursday.

    With this plunge in Bezos's net worth, Microsoft co-founder Bill Gates is set to become the world's richest person again.

    Here's more.

  • In this article
    Amazon shares fell 7% in after-hours trading Jeff-MacKenzie split also left a dent in Amazon boss' fortune On the other hand, Gates donated billions to charity Bezos first overtook Gates in 2017
  • Stock market

    Amazon shares fell 7% in after-hours trading

    Amazon shares fell 7% in after-hours trading
  • According to Forbes, Amazon shares fell 7% in after-hours trading.

    Bezos, who reportedly owns 57,610,359 shares of Amazon, saw his net worth swooped down to $103.9 billion.

    This would make Gates, currently worth $105.7 billion, richer than Bezos.

    However, this change will not be official until Friday's markets close, as the rankings are only updated after the close of each trading day.

  • Other reasons

    Jeff-MacKenzie split also left a dent in Amazon boss' fortune

    Jeff-MacKenzie split also left a dent in Amazon boss' fortune
  • However, Amazon's falling stock prices aren't the only ones to blame.

    Had it not been for Bezos's divorce, he would still have been the world's richest.

    Earlier this year, Bezos split with wife MacKenzie, who received $38 billion in the world's biggest divorce settlement.

    Interestingly, MacKenzie's net worth would also drop to $32.9 billion, according to Bloomberg, as she owns 4% stake in Amazon.

  • Information

    On the other hand, Gates donated billions to charity

  • With that said, perhaps Gates never would have lost the title of the "world's richest" to Bezos had it not been for the former's philanthropy. Since 1994, Gates has donated $35 billion to the Bill & Melinda Gates Foundation.

  • History

    Bezos first overtook Gates in 2017

    Bezos first overtook Gates in 2017
  • Notably, Bezos had first surpassed Gates's fortune briefly in July 2017.

    While the race remained neck and neck for a while, by 2018, Bezos had added a whopping $78.5 billion to his fortune owing to a 104% surge in the price of Amazon stock.

    Last year, Bezos made it to the Forbes 400 list with a worth of $160 billion, ending Gates's 24-year streak.

  • Microsoft
  • Bill Gates
  • Amazon
  • Jeff Bezos
  • Bill & Melinda Gates Foundation
  •  
Latest News
  • NCB files 12,000-page-long chargesheet in Sushant's case; Rhea named
    NCB files 12,000-page-long chargesheet in Sushant's case; Rhea named
    Entertainment
  • BMW M340i xDrive review: Sweet mix of performance and luxury
    BMW M340i xDrive review: Sweet mix of performance and luxury
    Auto
  • Adar Poonawalla, WHO scientist warn of delays in vaccine production
    Adar Poonawalla, WHO scientist warn of delays in vaccine production
    World
  • Qatar Open: Sania, Klepac  lose in semis
    Qatar Open: Sania, Klepac lose in semis
    Sports
  • Suniel Shetty accuses production house of fraud over fake poster
    Suniel Shetty accuses production house of fraud over fake poster
    Entertainment
Related Timelines
  • Starlink passes 10,000 users, counters objections to FCC funding
    Starlink passes 10,000 users, counters objections to FCC funding
    Business
  • SpaceX Starlink satellites featuring laser intercommunication enhance polar region coverage
    SpaceX Starlink satellites featuring laser intercommunication enhance polar region coverage
    Science
  • Elon Musk surpasses Jeff Bezos to become world's richest person
    Elon Musk surpasses Jeff Bezos to become world's richest person
    Business
  • NewsBytes Briefing: Jeff Bezos is now worth $200bn, and more
    NewsBytes Briefing: Jeff Bezos is now worth $200bn, and more
    Science
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News YouTube Hollywood News WhatsApp Bollywood News ISRO Yoga Honda Batman Football News
BMW Vaccine Reliance Jio OPPO Food News, Healthy Recipes Royal Challengers Bangalore Toyota Fashion Tips Taj Mahal Mercedes
Friends Series Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics Avengers Neha Kakkar Premier League
Big Bang Theory Liverpool Chelsea X-Men
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021