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Bezos beats Buffett to become world's third-richest man

Yahoo Finance

Stocks (^DJI, ^GSPC, ^IXIC) are slightly in the green, with utilities (XLU) leading and industrials (XLI) lagging. Alan Valdes, director of floor operations at Silverbear, joins us live from the New York Stock Exchange.

To discuss the other big stories of the day, Alexis Christoforous is joined by Yahoo Finance editor-in-chief Andy Serwer and Yahoo Finance’s Nicole Sinclair.

Getting too rich?
Some economists believe an increase in wealth could end up being unsustainable. As a percent of disposable income, household net worth hit a record high of 653% last year but has since slipped to 640% as of March 31. How likely is it that this could cause another recession?

Paying for retirement
New York Life Insurance employees are bringing a class action lawsuit following allegations of excessive index fund fees in retirement plans. How much were these funds charging in comparison to similar funds and how were they able to do this?

Bezos tops Buffett
Jeff Bezos is officially the third-richest person in the world. The Amazon founder’s net worth is just over $65 billion, beating Warren Buffett out by $32 million. Will Bezos become as rich as Bill Gates?