Amazon CEO Jeff Bezos' Reign As World's Richest Lasted Just A Few Hours


Amazon CEO Jeff Bezos (Photo by Drew Angerer/Getty Images)

Amazon founder and CEO Jeff Bezos’ reign on the top of the Forbes’ Real Time Billionaires List only lasted a morning.

Bezos became the richest person in the world for the first time with a $90.6 billion net worth when markets opened on Thursday. But while Amazon stock climbed another 1.3% to an intraday high of $1,083.31, it then dropped down to $1,046 by the time markets closed, knocking Bezos out of the top spot. He ended the day with an $88.7 billion fortune, down $540 million from late Wednesday. Gates is once again the richest person in the world with an estimated $89.8 billion fortune, down $240 million from yesterday.


Despite the drop, this is likely not Bezos’ last time at the top of Forbes’ real-time ranking. Because he owns nearly 17% of Amazon stock, small fluctuations in Amazon’s stock have billion-dollar consequences for Bezos’ net worth. As of the close of markets Thursday, Bezos was only $1.1 billion behind Gates.

Bezos’ net worth took a further hit in after hours trading Thursday when Amazon reported its second quarter earnings and had a big miss on earnings. Amazon reported earnings per share of $0.40, lower than the $1.42 per share analysts had estimated. Amazon stock dropped more than 2% in after hours trading as of 4:45 p.m. Eastern, which further reduced Bezos’ fortune by $1.8 billion. He is now worth $86.9 billion, which means the gap between Gates and Bezos is now $2.9 billion.

Bezos joined Forbes ranking of the 400 richest Americans in 1998, one year after Amazon went public, with a $1.6 billion fortune. He started the online retail giant in a garage in Seattle before his 30th birthday.

eeyaaa... at least he was the richest man for some hours baba God pls even if na for few seconds

First na number
Money na oga.

He started the online retail giant in a garage in Seattle before his 30th birthday........
Innovation and hard work pays

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