What goes up must come down
For a very short (in time) moment, Amazon god Jeff Bezos was crowned the richest person in the world, running faster than Microsoft's co-person (who started a company) Bill Gates as No. 1. Due mostly in part to Amazon's stock rising on Wednesday morning, Bezos' net worth went up to $90.9 billion USD compared to Gates' net worth of $90.7 billion USD. For the past four years, Gates has held the top spot on the Bloomberg Billionaires Index. Bezos on the other hand, started out 2017 at fourth place, going past Warren Buffett and Amancio Ortega.
However, today Amazon reported its second quarter earnings, showing a (money made/good thing received) of just $197 million USD compared to $38 billion USD in sales. This marks a 77 percent drop from the company's $857 million USD earnings from last year. Unfortunately, this drop means Bezos' personal fortune -- (thinking about/when one thinks about) he has nearly 80 million shares in Amazon -- will also take a hit. At the close of today's market, Bezos was back in second spot with Gates holding onto the title and his personal fortune of just over $90 billion USD.
