Fidelity bank card banner Camano banner
Bill Gates regains title as world’s richest person 8 hours after losing it

By News Express on 28/07/2017

Views: 1,874

•World’s richest man Bill Gates.
•World’s richest man Bill Gates.

Amazon founder and CEO Jeff Bezos lost his “world’s richest person” title after eight hours, as weak earnings pushed the company stocks lower on Thursday.

The e-commerce giant 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.

Amazon 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.

Facebook may surpass Amazon in market value if the latter’s shares continue to decline on Friday due to weak earnings, according to analysts.

Text courtesy of Anadolu Agency.

 

Source News Express

Posted 28/07/2017 12:59:58 PM

 

 

CLASSIFIED ADS

 

You may also like...
Unrest greets Sierra Leone polls

UPDATE: 4 reported dead as soldiers break into...

NEITI cries out to Buhari over unremitted $18bn...

Forgery: John Abebe loses bid to stall trial...

Vodacom cancels plan to charge for rolling over...

Nnanna replaces Moghalu as CBN Deputy Governor

National Assembly takes over crisis-ridden Kogi House of...

Bayelsa community seeks probe into explosion at Agip’s...

2019 Presidency: Peter Obi is a worthy choice...

How kidnapped Lagos students were rescued •20 kidnappers...

I need more time to disclose how I...

Osinbajo introduces new IDP food distribution plan

 

Latest News South East Governors reject Miyetti Allah vigilante group, cattle ranch My five-year agenda for CBN — Emefiele Court declines to halt renewal of Aiteo’s OML 29 lease War against corruption: Make protection of whistleblowers a priority, AFRICMIL tells FG Okowa felicitates with Gbajabiamila at 57 Presidential Election Dispute: Tribunal denies Atiku, PDP access to INEC Server Breaking: Court orders arrest of Innoson ISWAP terrorists under pressure — Task Force •Lose bombs, grenades, other weapons to MNJTF Court sends 5 Electricity Agency directors to prison over N5.2bn fraud Four corps members, two others rescued from kidnappers’ den Poor Governance: Intersociety slams Obiano, tells him to wake up before it’s too late •Charges South-East Governors 3 die as Akwa Ibom communities go to war over woman’s extra-marital affair

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (497,585 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (426,848 views) Shameless Genevieve Nnaji exposes breasts in public (367,021 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (313,097 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (277,634 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (244,714 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (235,120 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (217,083 views) 10 cars more expensive than Jets (214,576 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (205,422 views) Lagos plane crash: Journalist releases victims’ names (185,388 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (184,547 views)

 

NNPC 2019 National Science Quiz Competition

CBN banner advert

UBA Wise Savers Promo

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (94) Business & Economy (4,323) Business Verdict (74) Columnists (1,055) Complaints & Requests (95) Enterprise & Opportunities (209) Entertainment (627) Features (767) Global Business Monitor (384) ICT Monitor (53) International (3,620) Interview (184) Live Commentary (30) Love Matters (162) Maggie's Blog (310) News (47,729) Opinion (1,268) Pidgin (17) Politics (11,060) Religion (1,031) Sports (2,050) Stock Watch (39) AMA & Al Jazeera Global Update

 

 

 

 

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera