Bill Gates Loses "World's Richest" Title To Jeff Bezos - Reclaims It A Few Hours Later

Amazon’s Jeff Bezos ended July 27 as the world’s richest person effectively dethroning Bill Gates


BEAM Team

29 Jul, 2017

Bill Gates Loses

- From our Sponsors -

Amazon’s Jeff Bezos ended July 27 as the world’s richest person (net worth $123.5 billion), effectively dethroning Bill Gates (net worth $123.3 billion) from the role.

Unfortunately, it was a short-lived victory, because 5 hours later, he returned the lead to Gates.

According to Forbes, Bezos’ net worth has dipped back down to $120.32 billion while Gates maintains the lead at $121.9 billion.

Why the fall?

According to The Verge, when Amazon reported its second quarter earnings at $267.8 million, there was a dip of 77% from $1165.01 million this time last year.

If Amazon had been able to clinch strong enough sales Jul7 28, it would have brought him back into the lead. But the dip saw Amazon stock also fell 2% – which means Gates is most likely to hold on to his pole position for now.

But seeing how the market fluctuates for both tech giants, it’s likely we’re about to enter a see-saw situation in the future.


Related: You can now raise funds for your business on BEAM


The AWS Warfront

Amazon’s cloud Amazon Web Services (AWS) might have prevented that dip from falling even lower than it already has.

Image Credit: TechCrunch

According to the above graph by TechCrunch, AWS has been an amazonian cornerstone for the company’s profits, and will most likely continue as the world becomes increasingly digitised.

However, this also further cements Bezos’ fate to be in an continuous cycle of “Who da richest?” with Bill Gates.

Both tech giants have been interlocked in a fierce war over cloud computing with AWS and Microsoft’s ‘Intelligent Cloud’ division. Although AWS is currently still lagging behind the Cloud Division, the Amazon cloud is considered to be a “market leader in key segments of cloud hosting“.

But on the bigger picture, I just have to say that aren’t we glad Amazon has finally touched down in Singapore?

Safe to say that while Bezos battles it out with Gates overseas, we’ll get to see a much more exciting and important war right here in Singapore – the battle of discounts.

Related:

- From our Sponsors -

Latest Jobs

Finance & Internal Ops Lead

Glimpse

New York,

Full Time

USD 140000 — USD 220000 yearly

Head of Accounting

SafetyWing

Full Time

USD 90000 — USD 144000 yearly

Accounts Payable- Associate

Kodo

Maharashtra,

Full Time

USD 300000 — USD 500000 yearly

Data Acquisition Specialist (Colombia location)

Veryfi, Inc.

Antioquia,

Full Time

USD 24000 — USD 36000 yearly

Senior Software Engineer

Morphle Labs

Karnataka,

Full Time

USD 2500000 — USD 4000000 yearly

Senior Backend Engineer

Vapi

California,

Full Time

USD 150000 — USD 300000 yearly

Account Manager

Hona

Utah,

Full Time

USD 80000 — USD 85000 yearly

Founding Applied Research Engineer

FurtherAI

California,

Full Time

USD 150000 — USD 220000 yearly

Sr. Software Engineer - Product

Luminai

California,

Full Time

USD 170000 — USD 250000 yearly

Database Engineer — Postgres Internals

ParadeDB

New York,

Full Time

USD 120000 — USD 250000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).