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Jeff Bezos Loses World’s Richest Man Title And Gains It Back

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On October 24th 2019, Amazon founder and CEO Jeff Bezos temporarily lost the title of being the world’s richest person.  This happened after Amazon announced its shares fell by 7 % in after hours trading. This resulted in Bezos, who owns a 12 % stake in the Company, losing almost $ 7 billion in a few hours.  However, Bezos managed to claim back the title within 24 hours of losing it. 

After the loss, Bezos was replaced by Microsoft founder Bill Gates as the richest person in the world.  Gates previously held the title for 24 years until 2018, when he was replaced by Bezos.

Even though Amazon’s shares fell further on Friday, the fall was not as steep as Thursday’s.  On Friday, Amazon’s share fell by 1 %. This put Bezos’ net worth at $ 109.9 billion and resulted in him surpassing Gates’ net worth.  Bill Gates is, once again, the world’s second richest person, behind Bezos by $ 4.1 billion.  Gates has a net worth of $ 105.8 billion.

Jeff Bezos, whose net worth heavily relies on Amazon’s performance, has been at the top of the world’s richest people list since 2018.  Jeff Bezos ended Bill Gates’ 24 year old run as the world’s richest man in 2018 with his net worth of $ 160 billion. However, Bezos lost a significant amount during his divorce proceedings with wife Mackenzie Bezos.  Jeff Bezos agreed to give Mackenzie Bezos a 4 % stake in Amazon, which is worth more than $ 37 billion. The divorcee also made Mackenzie Bezos the third richest woman in the world. 

However, it is speculated Jeff Bezos may lose the spot as the world’s richest person soon as Amazon is investing heavily in infrastructure supporting one day shipping, on which the Company reportedly spent almost $ 800 million.

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Entrepreneur Stories

PixelSky Capital Unveils INR 400 Crore Secondaries Fund

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Bengaluru-based investment bank IndigoEdge, in partnership with entrepreneur Hitesh Ahuja, has launched PixelSky Capital, a secondaries fund targeting INR 400 crore. The fund will invest in eight late-stage tech and consumer companies expected to go public within three to four years, with cheque sizes of INR 40–50 crore each. PixelSky has already invested in beauty retailer Purplle and aims to close a second deal by June 2025.

 

The fund focuses on secondary transactions, allowing existing shareholders to sell stakes to new investors, providing liquidity ahead of IPOs. Founders have committed INR 10–15 crore, with additional capital coming from domestic family offices and startup founders. Final close is expected by March 2026.

 

Led by Hitesh Ahuja, who sold his foodtech startup Yumlane in 2023, and IndigoEdge cofounder Zerin Rahiman, PixelSky marks IndigoEdge’s expansion from advisory and proprietary investments into fund management. The firm has facilitated over 150 transactions worth around $3 billion and invested INR 25–30 crore as a limited partner in multiple VC funds. PixelSky is currently evaluating about 20 companies before finalizing its portfolio

 

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Meta’s Upcoming AR Glasses: A Sneak Peek

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Meta is developing its first true AR glasses, set to launch in 2027. Before the public release, employees will test the device starting in 2024. The company is also releasing new generations of Ray-Ban smart glasses in 2023 and 2025 with enhanced features like a “viewfinder” display.

Specifications and Features

The AR glasses are expected to feature OLED displays and Qualcomm Snapdragon chipsets, offering sophisticated AR and AI capabilities. They will enable users to interact with virtual objects and project high-quality holograms of avatars onto the real world.

Design and Competition

Meta aims for a sleek design, potentially building on its Ray-Ban partnerships. The AR glasses market is competitive, with Apple and Google also investing heavily. Meta seeks to make its AR glasses a game-changer by offering a unique user experience.

Future Plans

In addition to AR glasses, Meta is expanding its VR offerings with new headsets like the Quest 3 and exploring other wearable technologies. The company is focused on reducing costs to make the AR glasses more consumer-friendly by launch.

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From Digital Wallet to Stock Market: MobiKwik Expands Its Horizons with New Brokerage Venture

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From Digital Wallet to Stock Market: MobiKwik Expands Its Horizons with New Brokerage Venture

MobiKwik is venturing into the stock broking sector with the launch of its subsidiary, MobiKwik Securities Broking Private Limited (MSBPL), following approval from the Ministry of Corporate Affairs on March 3, 2025. This move aims to diversify MobiKwik’s offerings beyond its core digital payments services and compete with established players like Zerodha and Groww.

MSBPL will provide a range of brokerage services, including trading in shares, securities, commodities, and derivatives. The subsidiary has an initial capital of Rs 1 lakh, with plans for an additional Rs 2 crore investment to support its operations.

As MobiKwik enters this competitive market, it brings a substantial user base of 172 million and a merchant network of 5 million. Despite recent financial challenges, including a reported loss of Rs 55.2 crore in Q3 FY25, the company aims to leverage its existing infrastructure and user engagement to capture a share of the growing investment technology market, projected to reach $74 billion by 2030.

This strategic expansion aligns with MobiKwik’s broader goals of enhancing its financial service

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