Bezos' wealth could be halved after Amazon's quarterly report: Reports
Seattle-based company Amazon's shares dropped close to 21% in extended trading after the company published its holiday quarter report.
The fortune of Amazon CEO Jeff Bezos could be nearly halved this week from its last year's record high as the forecast of the company's quarterly report triggered a strong drop in the value of its shares, Bloomberg reported on Friday.
On Thursday, Amazon published a financial report that disappointed investors, and the fall in the value of its shares after the close of trading reached 21%. At the same time, in the first nine months of the current year, Amazon received a net loss of $3 billion against a profit of $19.041 billion for last year's same period. According to the results of the third quarter, Amazon's net profit decreased by 9% to $2.872 billion.
If the drop continues at the close of today's trading, Bezos' fortune will automatically fall by $23 billion to $111 billion, according to Bloomberg. This is almost twice less than in July 2021, when his fortune reached $214 billion.
Since this year's beginning, Bezos has lost more than $58 billion, while on Thursday alone, he lost nearly $5 billion, according to the Bloomberg Billionaires Index (BBI).
Bezos, Forbes says, was for four years the wealthiest person in the world, but in the April ranking, Elon Musk replaced him. Today, both Forbes Real-Time and BBI say that he is the third richest man after Musk and Louis Vuitton Moët Hennessy owner Bernard Arnault.