For a brief time, Amazon founder Jeff Bezos was the world's richest man.  That is, until the volatility of the market put Bill Gates back on top.

Amazon shares rose sharply in the US on Thursday, raising Bezos' savings balance to US$91.4 Billion, which is more than AU$114.6 Billion.  Like any other major investor Bezos has his money in a number of different businesses, but he still owns 17-percent of the online retailing giant's shares. 

But as easily as Bezos reached the top, he fell back again when Amazon reported its second quarter earnings, showing a profit of just US$197 Million.  That's a big dip from $857 Million this time a year ago.  The reason for it was Amazon's aggressive investments in its own business, but the markets weren't impressed and share prices fell. 

Microsoft co-founder Bill Gates will hold onto the title of world's richest person with his fortune of $89.8 Billion, and Bezos in second place with $88.7 Billion. 

Now, all of this is good for the kind of billionaire who keeps his wealth in a certain amount of sunlight.  There are those in the world who prefer the shadows.

As Bezos and Gates battled it out in the markets, US financier Bill Browder was testifying before the Senate Judiciary Committee about Russian President Vladimir Putin's wealth:  "I believe he is worth $200 billion," Browder told the panel investigating Russian meddling in the 2016 presidential election.  "The purpose of the Putin regime has been to commit terrible crimes in order to get that money."

In a clear rebuke to Putin and his pal Donald Trump, both the US House and Senate passed sweeping legislation slapping new sanctions on Russia by veto-proof margins; the bill also gives Congress new powers to block Trump from easing sanctions against Moscow.

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