{"id":340232,"date":"2017-07-28T13:36:43","date_gmt":"2017-07-28T13:36:43","guid":{"rendered":"http:\/\/citifmonline.com\/?p=340232"},"modified":"2017-07-28T13:36:43","modified_gmt":"2017-07-28T13:36:43","slug":"bill-gates-overtake-jeff-bezos-to-retain-richest-man-tittle","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2017\/07\/bill-gates-overtake-jeff-bezos-to-retain-richest-man-tittle\/","title":{"rendered":"Bill Gates overtake Jeff Bezos to retain richest man tittle"},"content":{"rendered":"
Jeff Bezos, the owner of online retail giant\u00a0Amazon.com, briefly held the top spot as the world’s richest person earlier on Thursday when his personal wealth surpassed $91 billion.<\/p>\n
Bezos briefly beat out Bill Gates,\u00a0the 61-year-old co-founder of Microsoft Corp, who has held the top spot since May 2013, with $90 billion.<\/p>\n
But Bezos quickly slipped to second best when Amazon reported its second quarter earnings\u00a0showing a profit of $197 million on strong sales of $38 billion.<\/p>\n
The dip in profit is a 77 per cent drop from $857 million this time last year, and it’s\u00a0mainly due to Amazon\u2019s aggressive investments in its own business.<\/p>\n
Around 9.30am on Thursday, shares of Amazon.com jumped 1.8 per cent to $1,071.31 in\u00a0New York, pushing Bezos’ personal wealth to over $91 billion.<\/p>\n
Bloomberg noted that if shares of Amazon.com maintained to the end of trading at 4.00pm, Bezos, 53, would surpass Gates on the Bloomberg Billionaires Index.<\/p>\n