Amazon founder and CEO Jeff Bezos was the world’s richest person for less than a day, as Bill Gates reclaimed the top stop within 8 hours.
This was after Amazon weak earnings pushed the company stocks lower on Thursday.
Amazon said its net income declined to $197 million in the second quarter, from $857 million the same period last year, marking a massive 77 percent decline.
Revenue rose 25 percent to $38 billion from $30.4 billion, but that was not enough for Bezos to retain his title.
The e-commerce giant stock price plunged 3.2 percent to as low as $1,020 per share in after-hours trading, after they closed the day at $1,046 a share. Bezos, who owns 17 percent of Amazon stocks, saw his net worth falling to $88.7 billion, according to Forbes’ World’s Billionaires Real Time Ranking.
Microsoft co-founder Bill Gates regained his title of world’s richest person with $89.8 billion of net worth, the ranking showed.
Amazon is still the world’s fourth biggest firm by market capitalisation behind Microsoft, while Facebook is closing on the e-commerce giant.
In fact, Facebook may surpass Amazon in market value if the latter’s shares continue to decline on Friday due to weak earnings, according to analysts.

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http://dailypost.ng/2017/07/28/bill-gates-regains-worlds-richest-person-title-hours-jeff-bezos-dethroned/

BABA God answer my prayer make I join the of multimillionaire if not billionaire

Adeyinka12:
BABA God answer my prayer make I join the of multimillionaire if not billionaire

My brother Hustle, Go extra miles..... Sacrifice lots of things for a particular period

KIKO720:
My brother Hustle, Go extra miles..... Sacrifice lots of things for a particular period

so them tell you I dey play ?

Adeyinka12:
so them tell you I dey play ?

him dey advice you nah!

Adeyinka12:
so them tell you I dey play ?

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Machinemayana:
Lolz, My broda Una dei fight ni, Him jst give u the little tips he knows... And i find them tru kind of

flames007:
him dey advice you nah!

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The business world is the only place where real war still exist. But frankly, Bill Gate isn't solidly ground as the world richest. He might soon lose that title and when he do, getting back again will be be tougher. Business is the only thing that inspires life into me.. It's like playing a game of chess. You may never know the next happening.

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EntMirror:
The business world is the only place where real war still exist. But frankly, Bill Gate isn't solidly ground as the world richest. He might soon lose that title and when he do, getting back again will be be tougher. Business is the only thing that inspires life into me.. It's like playing a game of chess. You may never know the next happening.

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HOME OF ENTREPRENEURS

Very true about no one knowing what the next movement or happening may be... But Mr Gates i don't see him any time soon losing that spot for more than 24hours for now... All he needs to do is Open the stock market nd Boom Multi Billionaires company will dive for it.

KIKO720:
Very true about no one knowing what the next movement or happening may be... But Mr Gates i don't see him any time soon losing that spot for more than 24hours for now... All he needs to do is Open the stock market nd Boom Multi Billionaires company will dive for it.

Yea bro.. My speculation isn't timed to take effect within hours.. It can take months, even years.. What I'm saying is that if he dare lose that spot again, I doubt If he will stand back up again. The competition is getting intense and interesting.