On Friday, the US stock market saw a sharp decrease. During this downturn, the value of Amazon’s shares dropped by almost 9%, lowering Jeff Bezos’s net worth by over Rs 1.34 lakh crore.
Jeff Bezos Net Worth: The founder and executive chairman of the massive American digital business Amazon, Jeff Bezos, has seen a 16 billion rupee ($1,34,075 crore) decline in his net worth. Following the company’s unimpressive job report, there was a significant sell-off in Amazon’s equities, resulting in a sharp decline of around 9 percent in the share price at the closing.
The price of Amazon’s stock almost approaches a two-year high.
The price of the company’s stock has dropped to a level that is almost identical to two years ago. After the business revealed on Thursday that it had made $147.9 billion in revenue in the second quarter, Amazon’s stock dropped more than 9% to below $167 at 3:30 pm. Experts had projected that Amazon would make $148.5 billion in revenue.
Jeff Bezos is the owner of 929 million Amazon shares.
Amazon’s stock looks to be entering its worst phase since April 28, 2022, when it fell by 14%, following its most recent dip. There are 928 million shares of Amazon owned by Jeff Bezos. At Thursday’s closing of business, his ownership position in the corporation was worth approximately $154.9 billion, down from $170.8 billion.
Despite significant losses, Bezos is ranked second among the wealthy.
Despite the company’s shares falling by around 9% on Friday, Bezos remains the second richest person in the world, with a net worth of $186.2 billion, according to a Forbes report. Let us inform you that following Friday’s collapse in the globe market, each of the top ten wealthiest individuals in the world—including industry titans like Elon Musk, Bernard Arnault, and Mark Zuckerberg—lost a minimum of $1 billion.
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