Jeff Bezos no longer world’s richest man: How Bezos lost $7BILLION in one day last night
AMAZON CEO Jeff Bezos lost nearly $7billion in market value yesterday as Amazon stocks took a brutal hit.
Amazon’s third quarter earnings disappointed investors driving stocks down nearly 9% in post-trading hours.
If last night’s stock holds Bezos will no longer be the world’s richest man and will lose the title to Microsoft’s co-founder Bill Gates.
As of 6pm last night stock was down 6.6% or $118 a share.
Bezos owns 57,610,359 shares of Amazon.
Jeff Bezos current net worth is $103.9billion dollars after the most recent loss.
He currently earns around $275million a day.
Bezos has had a tough year after divorcing his wife MacKenzie Bezos.
Bezos transferred a quarter of his Amazon stake to his ex-wife MacKenzie Bezos as part of their divorce settlement, which was finalized earlier this year. MacKenzie Bezos is worth $32.7 billion, and among the top twenty wealthiest people in the world.