The slow-moving sale that was anticipated by billionaire Jeff Bezos’ company Amazon.com.Inc caused shares to plunge in after hours trading, resulting in a loss of $ 23 billion from his wealth. Despite the continued holiday and shopping seasons, a drop was observed.
According to sources, the loss of such a sum will go down in history as one of the biggest declines in wealth ever. The stock decreased by almost 21% on Thursday after the market closed. According to the Bloomberg wealth index, assuming if a further cut doesn’t occur, the 58-year-old’s worth would be close to $111 billion.
As of Thursday’s closing, his wealth had decreased by more than $58 billion this year as a result of a wider decline in technology equities that also affected Amazon.
According to the index, only Changpeng Zhao, Elon Musk, and Meta CEO Mark Zuckerberg have previously experienced worse losses. But if Bezos’ fortune continues to decline, he might overtake the aforementioned figures.
In 2022, the value of Amazon.com, Inc.’s stock decreased by almost 33%. Bezos also has approximately 996 million shares in Amazon, according to the August filing.