Jeff Bezos was having a pretty good week.
On Tuesday, he revealed his plans for space travel and the team he plans on using to do it.
We even got a look at the Blue Moon lander that he wants to send to the moon.
Then Amazon stocks took a nose-dive, falling 7% and knocking his fortune down to a paltry $103,9 billion.
Yeah, I’m struggling to empathise here. That’s still an insane amount of money.
Bezos has held the title of richest person in the world since last year, ending Bill Gates’ 24-year run as number one.
Gates then dropped even lower on in the ranks to number three in July, when he was overtaken by Bernard Arnault.
Well, you can’t keep a good billionaire down, because according to Forbes, Gates is back as number one with a net worth of $105,7 billion.
I’ve loved Gates ever since he made that adorable video for Warren Buffett.
Before we take a look at what Gates is up to at the moment, let’s break down Bezos’ fall from the top spot.
On Thursday afternoon, Amazon reported a 26% drop in net income in its third quarter, its first profit decline since 2017. In after-hours trading, Amazon dropped nearly 9% to $1,624 per share in the 20 minutes after the market closed. It has since rebounded slightly, hovering at $1,657 per share at 7:30 p.m. ET.
The drop in stocks wasn’t the only contributing factor, though. Bezos transferred a quarter of his Amazon stake to his ex-wife MacKenzie Bezos as part of their divorce settlement.
Gates, meanwhile, has been out of Microsoft since 2014 when he stepped down as chairman of the storied company, though he remains a board member. He has sold or given away the majority of his Microsoft stake and diversified his wealth over time. He is now the co-chairman of the Bill & Melinda Gates Foundation, the largest private charitable foundation in the world.
Gates first appeared on Forbes’ first-ever billionaire list in 1987 with a net worth of $1,25 billion.
I can’t even fully comprehend that number.
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