Amazon founder Jeff Bezos no longer world's richest man

Friday, 25 October 2019 10:53

Amazon founder and CEO Jeff Bezos has lost the title of the world's richest man, pushing Microsoft co-founder Bill Gates back to the top spot.

It comes after Bezos lost nearly $7 billion in stock value after Amazon's lacklustre third-quarter results, pushing his fortune down to $103.9 billion.

Another factor that led to a drop in Bezos' net worth is the transfer of his 4 per cent stake to former wife Mackenzie.

Gates, with a net worth of $105.7 billion, regains the top rank after Bezos had ended his 24-year-reign in 2018.

More from Business

Emirates takes delivery of its first A350

Emirates is marking a major milestone today with the delivery of its first Airbus A350 aircraft.
Morgan Stanley to move regional HQ to Riyadh

US-based investment bank Morgan Stanley has acquired regulatory approval to move its regional headquarters to Riyadh as the Kingdom increasingly attracts global companies.
AD first in MENA to implement 'Enhanced Transparency Framework'

The Environment Agency – Abu Dhabi, (EAD) has announced that Abu Dhabi will be the first in the Middle East and North Africa (MENA) region to implement the Enhanced Transparency Framework (ETF) on a subnational level, following last year’s national level launch by the Ministry of Climate Change and Environment (MOCCAE).
COP29 unlocks international carbon markets

The COP29 Presidency announced on Saturday the end of the decade-long wait for the conclusion of negotiations on high integrity carbon markets under Article 6 of the Paris Agreement.
Adani CFO says US charges linked to only one business contract

A US bribery indictment of Indian billionaire Gautam Adani is linked to one contract of Adani Green Energy that makes up some 10 per cent of its business, and no other firms in the conglomerate are accused of wrongdoing, the group's CFO said on Saturday.

News

Watch: World's largest mosaic artwork unveiled in Hatta
The world's largest mosaic art installation, the 'Zayed and Rashid Mural', has been unveiled in Hatta.
Abu Dhabi Crown Prince to begin official visit to Bahrain
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, will begin an official visit to Bahrain on Tuesday.
ERC's winter aid campaign to benefit 250,000 people
The Emirates Red Crescent (ERC) has launched its winter aid campaign, aiming to support 250,000 people worldwide, especially in countries hosting refugees.

Amazon founder Jeff Bezos no longer world's richest man

More from Business

News

Our Shows

Quick Links

Listen on the Go

Amazon founder Jeff Bezos no longer world's richest man

Share

More from Business

News

Our Shows

Quick Links

Listen on the Go