Jeff Bezos has lost his position as the world’s richest person after a fall by 1% to $1,046 in Amazon’s stock. This has made Bill Gates, Microsoft founder, to take back his “default” position.

According to Forbes’ real-time Billionaires list, Bill Gates leads with a net worth of $89.8 billion while Bezos comes in second place with $88.7 billion.

On Thursday morning, a surge in Amazon.com Inc. shares put its founder and CEO Jeff Bezos on the number one spot.

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