Jeff Bezos Loses “Richest Man in the World” Title in 6 Hours

28 July 2017

Jeff Bezos Was The Richest Human On The Planet For Six Hours, But Bill Gates Is Back On Top

It’s been a while since anyone dethroned Bill Gates as the richest man in the world, but it happened earlier today.. well sorta happened!

Yesterday morning, before the markets opened Amazon CEO Jeff Bezos was worth $89.1 Billion, a mere 900 million dollars away from Bill Gates, the richest man in the world  for the past give and take 23 years , but that was all about to change!

Everybody was waiting for Amazon to reveal their earning reports later that day and since the company seemed to be doing incredibly well, the markets started buzzing.

Jeff Bezos Net Worth consists of 16.7% stake in Amazon, a big chuck of the rocket company Blue Origin and around 2.5 Billion dollars in cash and other easily convertible assets!

The expectations fueled the market up to a peaking point where his personal worth was estimated at $90.6 Billion, which was give or take half a billion over Microsoft CEO Bill Gates.

This was the first time in 7 years when someone overtook him as the richest man in the world.

Unfortunately, hist reign was short lived, actually it might even set some sort of record for the shortest time someone was the richest man in the world, lasting only 6 hours before the markets regulated themselves.

Amazon’s quarterly earnings report were not as great as people were expecting and despite the overall 3% growth of the stock due to speculation, immediately after the reveal the stock dropped heavily by 4.5%, mostly in  after hours trading.

But don’t look down on Jeff Bezos yet, in the past 2 years the man managed to actually double his net worth, earning as much as 45 billion dollars in the past 24 months so we’re actually expecting to see Jeff back on top sometime in the future.

It’s also noted that podium mates Bill Gates & Warren Buffett are both members of the giving pledge, where billionaires vouch to give away over 50% of their money to charity when they die. (Notably, Jeff Bezos is not a member). Also.. Gates holds the record for the most money donated to charity ever in the history of human kind, so we’ll see how things work out.

If you want to learn more about Jeff Bezos we put together this video diving deep into his life & journey: