Jeff Bezos Is Once Again The Richest Person In The World, Even As Amazon’s Stock Skids

Associated Press

Jeff Bezos is again the world’s richest person, reclaiming the top spot after losing it to fashion tycoon Bernaud Arnault at the. Although Amazon stock fell by 1.3% on Wednesday, lowering Bezos’ net worth by $1.3 billion, shares of Arnault’s luxury conglomerate LVMH dropped by 5.2% in European trading, slashing the Frenchman’s fortune by $9.9 billion.

Amazon stock closed at $3,201.22 per share, continuing to slump after the company posted disappointing quarterly earnings on July 30; prior to that, shares were trading at more than $3,600 apiece. Still, at the close of markets on Wednesday, Bezos’ net worth was an estimated $186.1 billion, edging out Arnault’s estimated $185 billion. Elon Musk is just $3.8 billion behind, in third place, after shares in Tesla gained 3.5%, pushing the Tesla CEO’s net worth to an estimated $181.2 billion.

After founding Amazon and leading it for nearly three decades, Bezos stepped down as CEO last month while staying on as the company’s executive chairman. He has cashed out $6.6 billion worth of Amazon stock this year, but has not sold any shares since the end of his CEO tenure.

Bezos owns just over 10% of the e-commerce and cloud computing giant. In addition to his Amazon stake, which makes up an estimated 88% of his fortune, he also owns space exploration and rocket firm Blue Origin, the Washington Post, a sizable real estate empire and an estimated $19 billion in other investments, fueled by theArnault’s wealth, meanwhile, lies primarily in his 47% stake in LVMH, the firm behind dozens of brands including Louis Vuitton, Christian Dior and Tiffany & Co.

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AbolishTheBillionaireClass

Him and others alike can sure contribute to a mass group of people. . But that's none of my business 🐸

Well...that has really made my day.

Of*

We are tired if this shit

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