May 28, 2022

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Bezos lost more than 121 billion crowns in a few hours - E24

Bezos lost more than 121 billion crowns in a few hours – E24

The second richest man in the world dwindled large portions of his fortune during Friday’s trading on Wall Street.

Jeff Bezos’ fortune is now $148 billion according to Bloomberg’s “Billionaire Index”.
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On Friday, Amazon stock fell like a stone after the tech giant provided numbers below analysts’ expectations.

The stock fell as much as 14 percent, which weighed heavily on Amazon founder Jeff Bezos.

Within hours, he saw $13 billion evaporate from his fortune, he says Bloomberg. Paper loss is equivalent to about 121.3 billion NOK.

The drop in Amazon shares came as the e-commerce giant reported a quarterly deficit and the lowest quarterly growth since the dotcom bubble in 2001.

A total of $20.5 billion was taken out of Bezos’ fortune according to quarterly figures, which equates to more than 191 billion kroner.

Bezos, who is still the second richest man in the world after Elon Musk, now tops the list of the biggest fortune losers this year.

Since January 1, he has lost 410.5 billion kroner of his fortune, making him the third biggest loser this year.

A plunge in Amazon shares sent the tech-heavy Nasdaq to its lowest level since March 2021. April was the worst month for the Nasdaq since October 2008, in the midst of the financial crisis, according to Bloomberg.

The world’s 500 richest people lost a total of more than $54 billion on Friday, according to the Bloomberg Index. The general index of the Standard & Poor’s 500 Index fell 3.6 percent, and the Dow Jones fell 2.77 percent