Jeff Bezos loses US$13.5b after Amazon disappointment
Add BT as a preferred source
[WASHINGTON] Amazon.com's weaker-than-expected second-quarter results has sent its founder's fortune tumbling.
The net worth of Jeff Bezos fell US$13.5 billion after Thursday's after-market results missed Wall Street's expectations and foreshadowed an end to the retailer's pandemic-fuelled sales surge. The drop erased 80 per cent of his wealth gains for the year.
Amazon's shares dropped 7.2 per cent to US$3,339.18 at 9.53 am in New York, lowering the company's ex-chief executive officer's fortune to US$193.6 billion. He still remains the world's richest person, according to the Bloomberg Billionaires Index, some US$8 billion ahead of Tesla's Elon Musk.
It's been a mixed week for America's richest tech billionaires. While Google-parent Alphabet's rosy earnings boosted the net worth of co-founders Sergey Brin and Larry Page, strong results from Microsoft and Facebook didn't translate into a wealth-bump for their billionaire shareholders.
Mark Zuckerberg, who spent the week touting his vision of Facebook's future as an all-encompassing "metaverse," lost US$5.4 billion Thursday as the social networking company's shares fell the most in two months over concern about growth in advertising sales.
BLOOMBERG
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Audemars Piguet and Tag Heuer explore new ground with collaboration timepieces
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
Private equity giant Carlyle can grow bigger but needs to stay on its toes: co-founder David Rubenstein
The returnees: Inside China’s AI talent reversal
