Jeff Bezos’ fortune fell $9.1 billion after Amazon hurt in stock rout

Amazon CEO Jeff
Bezos.
Cliff Owen/AP
Images

• Jeff Bezos’ fortune dived $9.1 billion after tech
  stocks were demolished in a big stock market selloff on
  Wednesday.
• Of the top five tech FAANG stocks, Amazon’s was hit the
  hardest by the slump.
• As a consequence, Bezos’ lost more than anyone else on
  the Bloomberg Billionaires Index.

A
huge stock market slump on Wednesday cost the world’s richest
man more than $9 billion.

Jeff Bezos
lost $9.1 billion on Wednesday, leaving him with a net worth
of $145.2 billion. This sets Bezos back to his net worth in July,
the same month the Amazon CEO became
the world’s richest man in modern history.

Many billionaires’ fortunes shrank on Wednesday, with the world’s
500 richest people taking a collective hit of $99 billion, the
second worst day for Bloomberg’s Billionaire Index in 2018. Facebook
CEO Mark Zuckerberg lost $2.5 billion, but Bezos was the worst
affected.

Here’s the top 10 on the Bloomberg Billionaire
Index:

Bloomberg

All the FAANG (Facebook, Amazon,
Apple, Netflix, and Google) companies were hit hard on
Wednesday, but Amazon took the biggest fall. The
Seattle-based company’s stock plunged 6%, vaporizing $56 billion
of its market capitalization.