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Jeff Bezos PHOTO: Reuters
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Jeff Bezos lost for a moment his title of “richest man on the planet” on July 20, when his spaceship Blue Origin with him on board reached the “edge of space” during a nearly 11-minute flight, followed by the recovery of his first position on a successful landing.
Now, however, the multi-billionaire has again ceded the top spot to the richest man in the world, but this time because the net worth of his fortune collapsed in just one day by $ 13.9 billion, according to MarketWatch.
Bezos’ wealth has plummeted as Amazon shares fell 7% at the end of last business week as a result of weaker-than-expected financial results in the second quarter. BNR.
This allowed the French tycoon Bernard Arnault to claim the position of the richest man on the planet. Arno heads the luxury goods conglomerate LVMH, whose subsidiaries include Louis Vuitton, Sephora, Moet & Chandon and Tiffany & Co.
Although the global Covid pandemic and the ensuing economic recession should have pushed the luxury goods market back a little, Bernard Arnault managed to increase his wealth by nearly $ 100 billion in the first year of the pandemic.
Earlier this week, Arno’s net worth was estimated at $ 195.8 billion, while that of Jeff Bezos was estimated at $ 192.6 billion.
Bezos made history in 2020 as the first person to earn $ 200 billion, as at the time his company Amazon enjoyed big profits due to the imposed Covid lockdown around the world, which contributed to a sharp rise in shares of the leading company for e-retail.
The two billionaires competed for first place among the richest people in the world in May and June this year, before the end of the 50-day series for Bezos at the top of the list, according to Forbes magazine.
There are a total of 2,755 billionaires in the world, 86% of whom are richer than a year ago, with their total wealth increasing by $ 5 trillion in 2020.
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