Amazon founder Jeff Bezos no longer world's richest man

Friday, 25 October 2019 10:53

Amazon founder and CEO Jeff Bezos has lost the title of the world's richest man, pushing Microsoft co-founder Bill Gates back to the top spot.

It comes after Bezos lost nearly $7 billion in stock value after Amazon's lacklustre third-quarter results, pushing his fortune down to $103.9 billion.

Another factor that led to a drop in Bezos' net worth is the transfer of his 4 per cent stake to former wife Mackenzie.

Gates, with a net worth of $105.7 billion, regains the top rank after Bezos had ended his 24-year-reign in 2018.

More from Business

Meraas unveils Jumeirah Residences Emirates Towers

Meraas, a member of Dubai Holding Real Estate, has announced the launch of Jumeirah Residences Emirates Towers, a bold new addition to Dubai’s iconic skyline.
US and China set for trade talks in London

Three of US President Donald Trump's top aides will meet with their Chinese counterparts in London on Monday for talks aimed at resolving a trade dispute between the world's two largest economies that has kept global markets on edge.
Formula 1 sponsorship revenue over $2bn in 2024

Formula 1 is hot on the tail of the big dog of professional sports marketing, the NFL, and cleared $2.04 billion in sponsorship revenue in 2024.
India's Modi says he's received invitation for G7 summit in Canada

India's Prime Minister Narendra Modi said he looked forward to meeting his Canadian counterpart Mark Carney during the Group of Seven summit, after the latter invited him to the gathering over a phone call on Friday.
Swiss National Bank denies currency manipulation after being put on US watch list

The Swiss National Bank (SNB) said on Friday it would intervene in foreign currency markets where necessary to keep inflation on track after the US added Switzerland to a list of countries being monitored for unfair currency and trade practices.

Recently Played

Latest Blogs

PINOY BULLETIN: JUNE 02 - 06, 2025
Pinoy Expat Corner

Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities! Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.
PINOY BULLETIN: MAY 26 - 30, 2025
Pinoy Expat Corner

Welcome to Pinoy Bulletin, your go-to source for staying informed about important announcements, exciting group activities, community events, and job opportunities! Make sure to tune in every weekdays to Tag Gising Na from 5AM - 10 AM for a comprehensive roundup of important updates.
PINOY BULLETIN: MAY 19 - 23, 2025
Pinoy Expat Corner

Amazon founder Jeff Bezos no longer world's richest man

More from Business

Recently Played

Latest Blogs

Our Shows

Quick Links

Listen on the Go

Amazon founder Jeff Bezos no longer world's richest man

Share

More from Business

Recently Played

Latest Blogs

Our Shows

Quick Links

Listen on the Go