Amazon founder Jeff Bezos was… for a few hours, the world’s wealthiest man

Economy Nilgun Salim
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Amazon’s general manager and founder, Jeff Bezos, dropped second in the top of the wealthiest people in the world after he occupied the first position for a few hours due to a depreciation of his company’s shares, according to Time.com.

Amazon shares dropped by 3% on Thursday afternoon, after the group has announced its financial results for the second quarter.

Meanwhile, Bezos’s net worth dropped from 90.9 billion dollars to 89.8 billion dollars.

Bill Gates, who has a fortune of $90.8 billion returned to the first position.

Thursday morning, the company’s shares reached a record low but depreciated after Amazon announced a net income of 197 million dollars – a 77% drop from $ 857 million from last year’s second quarter.

Amazon also estimated that in the current quarter it will either record operating income losses of up to $400 million or a gain of up to $300 million. These figures are way below the previous estimations of $900 million.

Jeff Bezos is the sixth entrepreneur who tops the ranking of world’s richest people over the past 30 years.

Launched in 1994 as an e-book store, Amazon has reshaped the retail landscape in the United States and beyond.

Amazon is also recognized for its cloud services as well as for its growing ambitions as a hardware and software developer.

Jeff Bezos, who was also one of the first Google investors, has major companies such as IMDB.com, Twitch video game streaming service, or Blue Origin, the spacecraft rivaling Space X.