Jeff Bezos in two days lost almost $20 billion

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As the founder of the Internet giant Amazon (NASDAQ: AMZN), previously recognized as the richest man on the planet, Jeff Bezos two days decreased by 19.2 billion dollars, writes Bloomberg.

The multi-billionaire has set a record of financial losses in such a short period of time, shifting from the first line of this conditional ranking of Facebook founder Mark Zuckerberg, lost in July of this year, 16.5 billion dollars in two days.

In the same way as previously, Zuckerberg, Bezos, poor due to a sharp fall of quotations of its shares on Friday, October 26, the securities of Amazon fell by 7.8%, and 29 October and by another 6.3 percent.

The crash occurred on the background of the publication of the financial statements of the retailer for the third quarter of this year. Indicators Amazon was much lower than expected by investors.

So, the company’s revenue amounted to 56.6 billion dollars, while analysts expected that it will reach 57.1 billion dollars.

As a result, according to estimates by Bloomberg, as Bezos is now 128,1 billion dollars, even though in the beginning of last month it reached of 167.7 billion dollars.

Why is it important

  • The fall of Amazon’s stock is not only against the publication of bad reporting, but also on the background of one of the largest volatility spikes in the U.S. market since the beginning of the year. Drop heads the Nasdaq (INDEX: SPX). It is noteworthy that about a month ago, a sharp fall of quotations at stock exchanges of the USA have pulled behind bitcoin, “sagging”, then in price to $6300.

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