Jeff Bezos crowned richest man overnight after dropping to Bill Gates

Jeff Bezos crowned richest man overnight after dropping to Bill Gates

- Jeff Bezos on Thursday, October 24 lost his status as world’s richest man to Bill Gates after a drop in Amazon’s stock price

- The billionaire, however, reclaimed his status overnight as his company’s shares recovered and rose significantly on Friday morning, October 25

- According to Bloomberg’s real-time Billionaires Index, Bezos, with a nett worth of $110 billion, is the world’s richest while Gates occupies the second spot with a nett worth of $108 billion

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The battle to become the world’s richest, and retain the status, is always an endless one. A simple financial/economic event could displace and replace the person occupying the powerful position.

Many billionaires have occupied the coveted position but in recent times, the seat has been shared by Jeff Bezos, the owner of Amazon, and Bill Gates, Microsoft Corporation’s founder.

Bezos, who has displaced Gates to occupy the seat for about two years, had his fortune reversed on Thursday, 24 October when his nett worth dropped.

Jeff Bezos lost status as world’s richest man to Bill Gates, reclaims it overnight

Jeff Bezos is the founder, CEO, and president of Amazon.com, Inc. He is the world's richest man, according to Bloomberg’s real-time Billionaires Index. Photo credit: Getty Images
Source: Getty Images

The Amazon billionaire suffered the economic misfortune due to the drops in the company’s stock which eventually translated to a $9 billion loss, according to Observer.

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With the loss, Gates emerged as the world’s richest man, leading with about $2 billion; Bezos’ nett worth at the time was $103.9 billion.

Jeff Bezos lost status as world’s richest man to Bill Gates, reclaims it overnight

Bill Gates is the founder of Microsoft Corporation and the second world's richest, according to Bloomberg’s real-time Billionaires Index. Photo credit: Getty Images
Source: Getty Images

However, the Amazon billionaire did not allow Gates to enjoy the status for long as he reclaimed the world’s richest status on Friday morning, 25 October following the recovery of Amazon shares.

With the new development, Bezos’ nett worth has risen back to $110 billion, leading Gates with about $2 billion, according to Bloomberg’s real-time Billionaires Index.

Jeff Bezos lost status as world’s richest man to Bill Gates, reclaims it overnight

Jeff Bezos tops Bloomberg’s real-time Billionaires Index. Credit: Bloomberg
Source: UGC

Briefly.co.za notes that the top 10 spots on the Bloomberg’s billionaires index are mostly occupied by American billionaires. Only France’s Bernard Arnault and Spain’s Amancio Ortega made it to the top 10 list, occupying third and sixth positions respectively.

Meanwhile, Aliko Dangote, the chairman of Dangote Group, is the richest man in Nigeria in 2019, according to Forbes.

He is followed by Mike Adenuga, the owner of the telecommunication company, Globacom.

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Source: Briefly.co.za

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