After Amazon.com Inc. predicted weak holiday sales, sending shares plummeting in after-hours trading, Jeff Bezos’ fortune might lose as much as $23 billion.
Following the market’s Thursday night closing, the stock dropped as much as 21%. According to the Bloomberg Billionaires Index, if that decrease continues throughout Friday’s session, the Amazon founder’s financial ruin would rank as the fifth-largest one-day worth decline ever.
Should the manoeuvre succeed, Bezos, 58, would have a net worth of around $111 billion, or about half of his $214 billion peak in July 2021, according to the Bloomberg wealth index. As of Thursday’s closing, his worth had decreased by more than $58 billion this year as a result of a wider decline in technology equities.
Mark Zuckerberg, Changpeng Zhao, and Elon Musk have suffered more losses among the world’s wealthiest people
Only Mark Zuckerberg, Changpeng Zhao, and Elon Musk have suffered more losses among the world’s wealthiest people monitored by the index, though that could alter by week’s end.
The biggest retailer in the world expects the effects of inflation, rising fuel prices, and reduced demand to endure despite its projection for the year’s final quarter falling far short of analysts’ expectations. The online business has also been struggling with customers abandoning online shopping in favor of their pre-pandemic routines.
Approximately 996 million Amazon shares are owned by Bezos
The company’s stock has lost nearly 33% of its value this year. Approximately 996 million Amazon shares are owned by Bezos, according to a filing from August.
MacKenzie Scott’s net worth, which was $26.8 billion as of Thursday’s closing, is expected to decrease by $7 billion. According to a review of Amazon’s 2022 proxy statement, she is the owner of more than 293 million shares of the company.
