Amazon CEO Jeff Bezos Losses $19.2 Billion Over 2 Trading Days This Week

Published October 31st, 2018 - 01:29 GMT
Jeff Bezos, founder and CEO of Amazon (Twitter)
Jeff Bezos, founder and CEO of Amazon (Twitter)

Jeff Bezos, founder and CEO of Amazon, lost $19.2 billion over two trading days this week, making it the largest loss of wealth ever recorded in that time, according to the Bloomberg Billionaires Index.

While in July, Facebook's Mark Zuckerberg held the previous record when he lost $16.5 billion in net worth after the social-media giant's shares tumbled.

Bezos, who is the largest shareholder of Amazon and the world's richest person, is left with $128.1 billion, down from a peak of $167.7 billion early last month. Stocks of tech companies led declines earlier this week, with the Nasdaq Composite Index sliding to its lowest since April. Shares of Amazon tumbled 6.3 per cent.

 

The report also said that even after the massive loss of wealth, Bezos still remains the world's richest person but has now moved lot closer to Bill Gates, world number two. Gates, the Microsoft Corp. co-founder, lost $558.3 million and is now worth $92.8 billion.

The report states that $8.2 billion hit Bezos took on Monday was the biggest by far on the Bloomberg ranking of the world's 500 richest people. While Mexican telecom tycoon Carlos Slim's $2.5 billion drop was the day's second-largest.

 

This article has been adapted from its original source.


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