Amazon.com<\/a> Inc. slid 8.8% amid a broader selloff in the market, dropping Bezos’ net worth to $191.5 billion, according to the Bloomberg Billionaires Index. The one-day wipeout is his third-worst, trailing only April 4, 2019, when the Amazon co-founder’s wealth tumbled $36 billion following his divorce settlement, and April 29, 2022, when Amazon shares plunged 14%.<\/p>\n\n\n\nThe Nasdaq 100 Index fell 2.4%, dragging down the fortunes of other tech billionaires including Elon Musk and Oracle Corp.’s Larry Ellison, whose net worths were pared $6.6 billion and $4.4 billion, respectively. Uncertainty over possible Federal Reserve rate cuts, as well as some high-profile earnings disappointments, have helped plunge the tech-heavy index into correction territory, wiping out more than $2 trillion in value in just over three weeks.<\/p>\n\n\n\n
Investors have also become jittery over fears that this year’s AI-fueled gains are overdone or the market is too concentrated. The decline in Amazon shares – the biggest drop since April 2022 – came after the company said on an earnings call that it planned to continue spending big on AI even at the expense of short-term profits.<\/p>\n\n\n\n
Technology billionaires Mark Zuckerberg, Sergey Brin and Larry Page also each lost more than $3 billion Friday as shares of Meta Platforms Inc. and Alphabet fell in New York trading. Tech tycoons in total saw $68 billion carved from their fortunes, according to Bloomberg’s wealth index.<\/p>\n\n\n\n
Bezos, 60, the world’s second-richest person, has been steadily offloading Amazon shares this year. He sold stock worth about $8.5 billion over nine trading days in February. And on a day last month when Amazon hit a fresh record, he disclosed a plan to sell 25 million additional shares worth $5 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
NDTV: Jeff Bezos’s net worth shrank by $15.2 billion Friday, leading a wide-ranging slump that erased $134 billion from the fortunes of the 500 richest people in the world. Shares of Amazon.com Inc. slid 8.8% amid a broader selloff in the market, dropping Bezos’ net worth to $191.5 billion, according to the Bloomberg Billionaires Index. The one-day wipeout is his third-worst, trailing only April 4, 2019, when the Amazon co-founder’s wealth tumbled $36 billion following his divorce settlement, and April 29, 2022, when Amazon shares plunged 14%. The Nasdaq 100 Index fell 2.4%, dragging down the fortunes of other tech billionaires including… <\/p>\n","protected":false},"author":1,"featured_media":41139,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-41138","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-in-english"],"_links":{"self":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/41138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41138"}],"version-history":[{"count":1,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/41138\/revisions"}],"predecessor-version":[{"id":41140,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/posts\/41138\/revisions\/41140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=\/wp\/v2\/media\/41139"}],"wp:attachment":[{"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gyalchisarshog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}