Amazon founder Jeff Bezos loses $20 billion in one day | Financial

Bezos, who handed over the helm at Amazon halfway through last year, saw $20 billion of his assets evaporate, according to Bloomberg’s wealthy list, as a result of the price boom that the American company received because of investor disappointment with the results and prospects.

The ongoing slump in Amazon stock in recent months has exacerbated the pain for Bezos. His wealth has fallen $43 billion on balance this year to $148 billion. Last year, he was for a long time the richest man in the world with a net worth well over $200 billion.

His rival Tesla boss Elon Musk, who recently got his hands on Twitter, is also suffering from the headwind on the stock market this year. The major shareholder in the electric automaker has lost $20 billion of its assets to $250 billion this year.

The richest European, Bernard Arnault, also has sour grapes. The CEO and major shareholder at the French luxury group LVMH, has lost $42 billion in wealth this year to $136 billion.

Source: De Telegraaf by

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