Bezos Falls To 3rd Spot Among World's Richest

How fast the fortunes of the world's richest shift: just two weeks ago, when AMZN hit its all time high on July 27, its CEO Jeff Bezos briefly surpassed Bill Gates as the world's richest man for the first time ever, despite growing rumors and rumblings of regulatory pushback against Amazon which is rapidly emerging as the biggest monopoly threat to established legacy industries.

Fast forward two weeks and Bezos is no longer the world's richest man, he isn't even the world's second richest man because after yesterday's market slump and Nasdaq plunge that drained $42.7 billion from the net worth of the world’s 500 richest people, the drop in Amazon stock...

.... was enough to push Bezos from his spot as the world’s second-richest person according to Bloomberg calculations. The worst market rout since May, lopped $2 billion from Bezos’s fortune, according to the Bloomberg Billionaires Index, after AMZN dropped 2.6% to under $957, more than $100 lower than its July 27 all time high of just over $1.080.

As a result, Bezos is now worth "only" $82.2 billion about $600 million behind Spanish retail magnate Amancio Ortega, founder of the Zara clothing chain.

The losses, which came following the escalating jawboning and war of words between President Trump North Korea, spanned multiple regions and industries, but tech billionaires were hit the hardest, accounting for seven of the 10 biggest declines. NetEase Chairman Lei Ding incurred the second-largest loss, dropping $1.8 billion to $16.8 billion, followed by Facebook's Mark Zuckerberg, whose net worth slid $1.6 billion to $71.2 billion, rounding off the list of the Top 5 richest people in the world.

Meanwhile, the top spot once again belongs to Bill Gates, who briefly ceded the No. 1 spot to Bezos on an intraday basis two weeks ago; Gates lost $848.5 million on Thursday which however was not nearly enough to dethrone him from the rank of world's richest, with a net worth of $90 billion.


Stormtrooper Fri, 08/11/2017 - 11:26 Permalink

Is that a homeless tent camp that Bezos is walking thru?  My check for $5 is on the way to him so that he can at least afford a bottle of Mad Dog 20-20 for sustenance.

Krungle Fri, 08/11/2017 - 11:40 Permalink

Can we stop with the fiction that the likes of Bezos, Gates, et al. are the world's richest? The mere fact that his "wealth" fluctuates by /-$10 billion in the span of two weeks should suggest that we are talking about imaginary wealth. What are his actual assets--warehouses, distribution chains, real estate holding, physical gold, etc. worth? That is his wealth, and based on real assets he is nowhere near the top. 

Inthemix96 Fri, 08/11/2017 - 12:05 Permalink

Has fox news bought ZH and told no one?You didnt include Elizabeth Saxe-Coburg-Gotha on your list, and that fucker OWNS the 'Common-Wealth'.  All of it.  And the fishing rights as far off the coasts, of said 'Coomon-Wealth' as you cant go.  High speed rail link anyone? HS2 as us mugs over here know it?  Anyone?  Your 'House', 'You' own in the way?  'Compulsory Purchase Order', at 1991 prices for 'Your' 'House', and fucking nowt you can do about it.  She owns the very land you walk on bitchez.Try, go on I ask you, try and get 'Allodial' title to your property 'Free And Clear'.  You cant.Go-Ogle how many of your 'Presidents' are related to the lizard cunt.And she is small beef.These fuckers need a 'Talking' to.  Then hanged, by the neck, till, dead.Treason my friends.  The language we share, means fucking nothing, every word of it can mean what 'They', want it to.  It depends on what the definition of 'Is' is, eh?Oh, ZH, you never mentioned the cunting 'Red-Shields' either.  ;-)

Jolt Fri, 08/11/2017 - 12:07 Permalink

How many shits will you give for this "news"?Let's have a race to see who becomes the first billionaire-reduced-to-thousandaire after we claw back all the world's wealth these pricks pilfered from us.These guys are all a functioning part of the Deep State, and don't think any of them got to own earth via fair/legal/ethical means. 

any_mouse Fri, 08/11/2017 - 12:46 Permalink

Wait. The net worth for these beelionaires is in the stock of their unicorn companies that are held aloft by the deep state?

Try and cash out and see what your net worth is then, Bozos.