Microsoft’s Bill Gates beats Amazon founder Jeff Bezos to be the world’s richest man in the world after the e-commerce major’s third quarter earnings plunged on Thursday.
On Thursday Amazon fell by 7 percent pushing Bezos fortune down to $103.9 Billion while Microsoft owner Bill Gates stands at $105.7 million.
Amazon’s founder Jeff Bezos lost nearly $7 billion in stock value in the after-hours trading. But the reason that Amazon plunged is not entirely due to the fall in the share value. Jeff Bezos net value fell down because of his recent costliest divorce with his wife MacKenzie Bezos and transferred huge stake to her as part of the settlement.
MacKenzie Bezos net worth is $32 billion and is now listed among the top twenty wealthiest people in the world.
Amazon had reported a 26 percent drop in the net income of the e-commerce giant in the third quarter this fiscal. The company however said that they have been investing heavily in logistics to make one day shipping a regular thing for all and not just Prime members.
It was in 2018 that Jeff Bezos knocked down the 24 year record of Bill Gates as the richest man on earth with a net worth of $160 billion. Bill Gates has been named the richest man ever since 1987 in the Forbes list.