Buffett Loses Spot as Second Richest Man

The list of the wealthiest men in the country (and, indeed, the world) is constantly changing. In fact, it changes on an almost monthly basis because many of the world’s billionaires have their fortunes tied up in stocks, which have a value that fluctuates with the market.

However, according to recent figures reported on by Bloomberg, it looks like Amazon’s Jeff Bezos has formally displaced Warren Buffett as the second richest man in the world. At the time of writing, Bezos’ fortune totaled at around $75.6 billion thanks to a jump in Amazon’s value last week when the company announced the purchase of Souq, an e-commerce site based in the Middle East. Buffett’s fortune, by contrast, is sitting at a cool $74.9 billion.

As the world’s top investor and the chairman of the much-admired Berkshire Hathaway, Buffett has consistently been in the top ten wealthiest people in the world for several years. In fact, he held the position as second wealthiest individual for 15 years straight, before losing to Bezos in 2016. He reclaimed the title in December of that year, and now has lost it again.

This shift is particularly interesting, as Buffett has gained a ton of money (around $9 billion) in the market surge following the election of Donald Trump, yet Bezos has still managed to surpass him by around $700 million. While that sounds like a lot of money to most of us, in the realm of the multi-billionaires, that’s not really that large of a figure.

As far as the rest of the list goes, currently, Bill Gates still sits at No. 1 with $86 billion, Amancio Ortega is ranked number four with $74.2 billion, and Mark Zuckerberg is ranked number five with $61.4 billion. You can check out the full list here.

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