Amazon CEO Jeff Besos lost $6.9 billion due to the fall in the company’s quotations and ceased to be the richest man in the world, giving way to the leadership of Microsoft founder Bill Gates, wrote Forbes.
On Thursday, after markets closed, Amazon released a third-quarter report reporting a 26 percent drop in net profit for the three months, to $2.1 billion.
In addition, the fourth-quarter revenue forecast was below expectations. As a result, the company’s shares fell by 6.75 percent in preliminary trading.
According to Forbes, Bezos’s fortune on this background decreased to 103.9 billion dollars from 111 billion, and now the first place in the list of the richest people is Gates with 105.7 billion dollars. Amazon is one of the world’s largest online retailers. In addition to the United States, the company operates in Canada, China, Brazil, Japan, and Europe. The online store Amazon.com was launched in July 1995.