Amazon CEO Jeff Bezos has lost his first position in the list of world’s richest persons. According to Forbes, Bezos fell to no.2 leaving the no.1 spot to Microsoft Co-founder Bill Gates.
As Forbes list of the world’s richest person got released on this October 25th, 2019, Amazon CEO Jeff Bezos dropped out of first place.
Briefly, Microsoft Co-founder grabbed the top spot when Q3 results stated that Mr. Bezos loosed nearly $7 billion in stock value.
Later, Amazon shares fell 7 percent in after-hours trading on Thursday. This left the CEO of Amazon net worth down to $103.9 billion. Meanwhile, Mr. Gates managed with a net worth $105.7 billion.
It should be noted, that Bill Gates has debuted on Forbes’s first-ever billionaire list in 1987 with a net worth of $1.25 billion and ruled the charts as the first world’s richest person for 24 years.
Later, Amazon CEO Jeff Bezos entered the Forbes chart as the first richest person breaking the 24-year record of Mr. Gates in 2018. He debuted on Forbes’s first-ever billionaire list in 1998, with a net worth of $1.6 billion.
On the whole, the reasons behind Amazon CEO Jeff Bezos’s fall on net worth are speculated as follows.
Firstly, Bezos’s net dropped after Amazon stock fell with the company announcing lower profits after its $800 million investment in same-day delivery.
Also, Amazon CEO divorce is also contributed to his drop in rankings. His ex-wife received a quarter of their amazon holdings. The Bezos couple ended their marriage in April, and this divorce was reported as the biggest divorce settlement in history. Mackenzie, Ex-wife of Mr. Bezos received $36 billion from Amazon holdings.
Well, must agree that Amazon has the best history. From founding Amazon in his garage on July 5th, 1994 to bringing Amazon as one of the topmost companies in the world. Indeed, Amazon CEO Jeff Bezos has come a long way.