- Microsoft co-founder Gates has net worth of $105.7billion, according to Forbes
- Bezos’ net worth dropped to $103.9billion following drop in Amazon share price
- Shares of Amazon fell by 7 per cent in after-hours trading on Thursday
- The retail giant reported disappointing third quarter earnings
- Bezos would still be the richest man if he hadn’t given a quarter of his Amazon holdings to ex-wife MacKenzie in their divorce earlier this year
- Amazon says drop in net income is due to effort to cut delivery time in half
- Company expanding workforce and adding trucks, jets to ship packages quicker
Jeff Bezos is no longer the world’s richest man – at least for the time being.
The Amazon founder was knocked off his perch by Bill Gates as a result of after-hours trading on Wall Street on Thursday.
After reporting less-than-expected third quarter earnings, Amazon’s stock nosedived by 7 per cent in after-the-bell trading, dragging down Bezos’ net worth to $103.9billion.
Gates, the Microsoft co-founder, is worth $105.7billion, according to Forbes.
Bezos would still be the richest man if he hadn’t divorced wife MacKenzie earlier this year.
Bezos agreed to give MacKenzie a 4% stake in Amazon – a quarter of his shares in the company – when they finalized the details of their divorce in July. The stock was then worth more than $37 billion.