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Jeff Bezos Was the Richest Person in the World for a Few Hours. Then He Lost $6 Billion Overnight

July 28, 2017, 4:44 PM UTC

At least Amazon CEO Jeff Bezos can say he was once the richest person in the world.

On Thursday, after earnings expectations skyrocketed Amazon stock, Bezos dethroned longtime richest-guy-ever Bill Gates with an estimated wealth of $92 billion. But, alas, it appears it wasn’t meant to last.

By Thursday afternoon, Amazon’s reported earnings fell short of expectations, and the retail giant’s stock went tumbling as a result.

Because Bezos owns 16% of Amazon shares, his wealth took a dip right along with it. CNBC estimates his net worth dropped by $6 billion between Thursday’s peak and early Friday.

That’s not to say Bezos isn’t still exceedingly wealthy.

The CEO is still the second-richest man in the world, and his wealth grew by $25 billion over the past year alone, according to the network.