Amazon founder and CEO Jeff Bezos, regained his position as world’s richest man on Saturday, after briefly losing the spot to Microsoft Co-founder Bill Gates.
Bezos had lost the top sport after his company’s lacklustre Q3 results resulted in him losing nearly $7 billion in stock value. The e-commerce giant’s shares fell 7 per cent in after-hours trading on Thursday. After that Bezos was left at $103.9 billion.
Though Amazon shares fell 1 per cent to $1,760.78 on Friday. But the fall was not as steep in after-hours trading as it was on Thursday’s market close. After the fall, Bezos was left with a net worth at $109.9 billion, bringing him back to number one position, according to Forbes.
Whereas, Gates is just $4.1 billion behind Bezos at number two richest with a net worth $105.8 billion. Gates debuted on Forbes’ first-ever billionaire list in 1987 with a net worth of $1.25 billion.
In 2018, Bezos ended Gates’ 24-year run as the richest man with a net worth of $160 billion.
Bezos first joined The Forbes 400 list of richest Americans in 1998, one year after Amazon went public, with a net worth of $1.6 billion, the report added.
(With input from agencies)