Jeff Bezos Is No Longer the World's Richest Man

For now.The second richest man on earthAs if Richard Branson's defeat to space wasn't enough, Jeff Bezos comes in second again as he is no longer the richest man in the world.After Amazon founder Jeff Bezos was reported to have been worth $196 billion, Richard Arnault, the owner of luxury brand Louis Vuitton took the top spot. Bezos' net worth is $186 billion, by comparison.Amazon SlumpLouis Vuitton experienced a rebound from their 2020 lows in Q1 and Q2, despite the fact that the vaccine was being distributed worldwide and people started shopping again, despite the ongoing pandemic. Insider reports that many of the brands saw record sales during the first half 2021.Amazon last week announced a 7 percent earnings slump, which means that Bezos lost approximately $14 billion in one day. These two factors combined led to Bezos losing his top spot in the world as the richest man.AdvertisementAdvertisementBezos Bounce Back?Bezos won't be spending too much time worrying about it. First, the ebbs & flows of the market will likely see him retake the top spot soon enough, especially considering the fact that Amazon won't be getting smaller any time soon.He's also way too busy with other important tasks like joining meme wars between SpaceX and Elon Musk.READ MORE: Bernard Arnault, Louis Vuitton's owner, supplants Jeff Bezos for the title of richest man in the [Insider]More on Bezos - Advisers reportedly begged Bezos not to copy Elon Musk so MuchAdvertisementAdvertisement