BREAKING: Amazon's CEO, Jeff Bezos Loses Title As World Richest Man [Meet The New World Richest]

Amazon founder and CEO , Jeff Bezos has lost his title as the world ’ s richest person.
Bezos ’ net worth fell by $ 5 . 9 billion to about $ 106 .3 billion when Amazon ’ s stock opened at $ 1 , 698 a share on Friday morning after the company reported disappointing third- quarter results the evening prior , sending shares lower.

That means Microsoft cofounder Bill Gates, who has a net worth of $ 107 billion, will retain the title as the world’ s richest person, according to Bloomberg ’ s Billionaire Index. Gates held the title of world ’ s richest man for 24 years before Bezos surpassed him in 2018.

Bernard Arnault , chairman of the French Luxury Brand LVMH Moet Hennessey Louis Vuitton , is No . 3 on the list with a net worth of $ 94 .6 billion.

Amazon on Thursday evening reported a third - quarter profit of $ 2 . 1 billion, or $ 4 . 23 a share, as revenue rose 24 percent to $ 70 billion. Analysts surveyed by Refinitiv were expecting earnings of $ 4 .62 a share on revenue of $ 68 . 8 billion.

The e - commerce giant ’ s outlook for the holiday season disappointed the street , coming in at $ 80 billion to $ 86 . 5 billion, well below the $ 87 .4 billion that was expected.

Bezos ’ s net worth , which in April reached a high of $ 150 billion took a hit in July following the divorce settlement with his ex- wife Mackenzie . She received a 4 percent stake in Amazon, about one- quarter of the shares the two owned together , as part of the $ 38 billion settlement.