Amazon founder Jeff Bezos no longer world's richest man

Friday, 25 October 2019 at 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 News

Nakheel unveils new sustainable community beside Palm Jebel Ali

Nakheel, a member of Dubai Holding Real Estate, has unveiled Palm Springs, a 3.8 million sq m residential masterplan adjacent to Palm Jebel Ali in southern Dubai.
Dubai showcases latest innovations in electric, smart mobility

More than 300 local and international organisations are showcasing the latest developments in electric vehicles and future transport at the inaugural Dubai International Electric Vehicle Exhibition and Conference (EV World 2026).
US sues Lyft, alleges discrimination against disabled riders

The US Justice Department sued Lyft on Monday, alleging the ride-hailing services provider discriminated against passengers with disabilities, including those who use service animals and mobility devices such as stowable wheelchairs.
ADNOC Distribution reports $791 million net profit in first 9 months

ADNOC Distribution has reported a 37 per cent year-on-year increase in net profit to $791 million in the first nine months of 2026.
Tesla to pull the plug on Cybertruck after years of poor sales

Tesla will wind down Cybertruck production at its Texas gigafactory around mid-2027, CEO Elon Musk said on Friday, after years of persistently weak sales for a futuristic model once touted as a rival to legacy pickup trucks.

News

H.H. Sheikh Hamdan honours winners of inaugural Dubai-it Award
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, UAE Deputy Prime Minister and Defence Minister, has honoured 13 winners of the inaugural 'Dubai-it Award', which celebrates exceptional achievements by individuals, projects, institutions and companies across various sectors.
Ras Al Khaimah reopens several beaches to the public
Several beaches in Ras Al Khaimah have reopened to the public, with access to remaining locations set to resume in phases.
Abu Dhabi expands EV charging points in public parking areas
Abu Dhabi has brought hundreds of new electric vehicle charging units into operation across public parking areas, as part of efforts to encourage greener transport across the emirate.

Amazon founder Jeff Bezos no longer world's richest man

More from Business News

News

Our Shows

Quick Links

Listen on the Go

Amazon founder Jeff Bezos no longer world's richest man

Share

More from Business News

News

Our Shows

Quick Links

Listen on the Go