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Jeff Bezos is no longer the richest man in the world after the Amazon reserves




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Amazon founder and CEO Jeff Bezos lost his title as the richest man in the world during an hourly trading on Thursday after his e-commerce behemoth reported no third-quarter earnings. hours, reducing Bezos' wealth to $ 1

03.9 billion, making it the second-richest in the world. one: Microsoft co-founder and Washington Gov. Bill Gates, worth $ 105.7 billion. & nbsp; [19659005] Bezos became the richest man in the world in 2018 and the first hundred-billionaire to ever appear on Forbes 400 net worth $ 160 billion this year, ending Gates' 24-year internship as number one. & Nbsp;

But Amazon's net worth, i.e. not entirely due to Amazon stock drop Bezos transferred a quarter of his Amazon stake to his ex-wife, McKenzie Bezos, as part of their divorce deal that was finalized earlier this year. MacKenzie Bezos is worth $ 32.7 billion and is among the 20 richest people in the world. & Nbsp;

On Thursday afternoon, Amazon reported a 26% decline in net income in its third quarter, its first decline in revenue since 2017 & nbsp; In after hours trading, Amazon dropped nearly 9% to $ 1,624 a share 20 minutes after the market closed. Since then, it has rebounded slightly, twisting at $ 1,657 a share at 7:30 pm ET

The company said it has invested a lot in logistics and delivery infrastructure to make one-day shipping the norm for Amazon Prime members. The company announced during a second-quarter earnings call in July that it had spent "just over" the estimated $ 800 million it had previously said it would invest in one-day shipping infrastructure. The company declined to disclose how much it spent on one-day delivery in the third quarter. But Chief Financial Officer Brian Olsawski revealed Thursday that the company plans to spend $ 1.5 billion in the fourth quarter, possibly to fund a one-day delivery initiative. & Nbsp;

Meanwhile, Gates has been out of Microsoft since 2014, when he stepped down as chairman of the company, though he remains a board member. He has sold or distributed most of his stake in Microsoft and has diversified his wealth over time. He is now co-chair of Bill & amp; Melinda Gates Foundation, the largest private charitable foundation in the world. & Nbsp;

Bill Gates made his debut in the first 1945 list of Forbes billionaires in 1987 with a net worth of $ 1.25 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. & Nbsp;

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Amazon Founder and CEO Jeff Bezos lost his title as the richest man in the world during an out-of-market trade on Thursday,

Amazon shares fell 7% in over-the-counter trading, plunging Bezos' wealth to $ 103.9 billion. it ranks second among the richest in the world The new number one: Microsoft co-founder and Washington resident Bill G

Bezos became the richest man in the world in 2018 and the first centipede to ever appear on the Forbes 400 this year with a net worth of $ 160 billion, Andy ng The 24-year-old Gates started out as number one.

But the decline in Amazon CEO net worth was not entirely due to the decline in Amazon shares. Bezos transferred a quarter of his stake in the Amazon to his ex-wife, Mackenzie Bezos, as part of their divorce settlement, which was finalized earlier this year. MacKenzie Bezos is worth $ 32.7 billion and is among the top twenty wealthiest people in the world.

On Thursday afternoon, Amazon reported a 26% decline in net income in its third quarter, its first decline in profit since 2017. After trading hours, Amazon dropped nearly 9% to $ 1,624 a share 20 minutes after the market closed. Since then, it has rebounded slightly, twisting at $ 1,657 a share at 7:30 pm ET

The company said it has invested heavily in logistics and delivery infrastructure, aiming to make day-to-day shipping the norm for Amazon Prime members. The company announced during a second-quarter earnings call in July that it had spent "just over" the estimated $ 800 million it had previously said it would invest in one-day shipping infrastructure. The company declined to disclose how much it spent on one-day delivery in the third quarter. But Chief Financial Officer Brian Olsawski revealed Thursday that the company plans to spend $ 1.5 billion in the fourth quarter, likely to fund the one-day delivery initiative.

Gates, meanwhile, has been out of Microsoft since 2014 when he stepped down as chairman of the built-up company, though he remains a board member. He has sold or distributed most of his stake in Microsoft and has diversified his wealth over time. He is now co-chair of the Bill and Melinda Gates Foundation, the largest private charitable foundation in the world.

Bill Gates made his debut in the first ever Forbes billionaire list in 1987 with a net worth of $ 1.25 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.


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