Jeff Bezos Is No Longer The World’s Richest Man

Jeff Bezos was touted as the world’s second-richest man with a net worth of approximately $186 billion and he has certainly made use of his wealth in a lot of ways. The Amazon founder was recently dethroned, but he’s still incredibly loaded. So, there is no need to worry about his bank account. Sadly, the same cannot be said for those who work for Amazon.

On top of being defeated by Richard Branson in the space race, it seems he no longer carries the title of world’s richest man anymore. Bezos still got to space, but he came in second in that race. Now he’s ranking second once again.

According to Insider, Richard Arnault, owner of luxury brand Louis Vuitton, topped Jeff Bezos after he was reported to be worth $196 billion.

Despite the pandemic still going strong all over the world, Louis Vuitton saw an increase from their 2020 lows throughout Q1 and Q2 as the vaccine began to be distributed and people began shopping again. Many used their time at home to shop for his designer good despite the fact that they could only really show them off via social media.

Last week, Amazon announced an earnings slump of roughly 7 percent, which meant Jeff Bezos lost around $14 billion in one day. However, it is likely he will reclaim his spot soon enough judging by how the market is currently performing.

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