Forbes: ‘Jeff Bezos no longer the Richest Person’

Lahore (25th Oct, 2019): Founder of Amazon, no longer richest man in the world as stocks fall. 

According to reports, Forbes has announced that Jeff Bezos, the man behind Amazon and the richest person in the world in 2018 was the first “centibillionaire” who appeared on The Forbes 400 the same year has lost his title as the richest. He reportedly had an estimated net worth of $160 billion that trumped Bill Gates’ 24 years as the richest.

It has been confirmed by Forbes that Bezos is no longer the richest person due to the recent plunge in Amazon stocks. Reportedly as confirmed by Forbes, Bezos’s Amazon shares have fallen an approximate 7% consequently, knocking him down in fortune to a nearly $103.9 billion. According to reports, the recent loss in shares places Bezos at number two in the list of richest people preceded once more by, Bill Gates, the co-founder of Microsoft. Gates has an estimated worth of $105.7 billion, respectively.

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Jeff Bezos is no longer the richest person in the world after Amazon stock plunged. Bezos has lost his title as the richest man in the world during after-hours trading today, after his ecommerce behemoth reported lackluster third-quarter earnings. Amazon shares fell 7% knocking Bezos’ fortune down to $103.9 billion. That puts him at number two among the world’s richest. The new number one: Microsoft cofounder and fellow Washington state resident Bill Gates, who is worth $105.7 billion. Bezos became the richest man in the world in 2018 and the first centibillionaire to ever appear on the The Forbes 400 that year with a net worth of $160 billion, ending Gates’ 24-year run as number one. But the Amazon chief executive's net worth drop isn’t entirely due to the decline in Amazon shares. Bezos transferred a quarter of his Amazon stake 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 among the top twenty wealthiest people in the world. (📸: Jim Watson/AFP)

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Moreover, it can be assumed that Bezos’ recent divorce with former wife, MacKenzie Bezos, is also partially the cause behind the drop in his net worth. As speculated at the time, Jeff Bezos had transferred a quarter of his Amazon stake to MacKenzie Bezos which which finalized at the start of 2019. As confirmed by Forbes, MacKenzie Bezos is currently worth $32.7 billion, ranking her among the top twenty richest people across the globe.

 

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