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.
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