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

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.

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.

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.