The year started out well for Jeff Bezos.
His divorce is out of the way, he has a new girlfriend, he bought a very expensive mansion and reclaimed his position as the richest man in the world.
Everything was coming up Jeff, it seemed, until this week.
The multi-billionaire lost $8 billion of his personal wealth after the stock market crashed when Saudi Arabia cut oil prices, and the economy took a dive thanks to coronavirus.
Over to IOL:
According to Forbes, the Dow Jones suffered its worst decline since 1987 and this caused Bezos to lose more than 7% of his net worth as Amazon shares fell by nearly 8%.
Bezos wasn’t alone in mourning his losses.
Other multi-billionaires also felt the hit, in a big way.
Bernard Arnault
Bernard Arnault lost $7,7 billion this week when shares in Louis Vuitton dropped by 9%. The decline in luxury goods shopping has decreased considerably since coronavirus was declared a pandemic.
Mark Zuckerberg
The CEO of Facebook and man with questionable credentials as a real human person, lost 9% of his net worth, which amounts to roughly $5,7 billion dollars.
Mukesh Ambani
The oil magnate lost $5,8 billion from his net worth after Monday’s oil and stocks collapse. He also lost his place as Asia’s richest person, now that his net worth is only $42,3 billion.
The richest person in Asia is now, once again, Jack Ma, with an estimated net worth of $45,7 billion.
It’s a good thing they all have a few billion dollars stashed away.
And, if you’re feeling sorry for Bezos, go ahead and watch this guy visually recreate his wealth using grains of rice.
He’ll be fine.
[source:iol]
