Posted on 04/30/2022 1:00:24 PM PDT by lasereye
Jeff Bezos saw his wealth slashed by $20 billion on Friday, cutting him to No. 3 among the world’s richest, after Amazon’s stock tanked following a downbeat earnings report.
As of Friday, Bezos’ net worth was valued at $150 billion — down from $170.5 billion a day earlier, according to Forbes.
Now, Bezos is in third place among the world’s richest, behind No. 2 Bernard Arnault, the French luxury tycoon whose current net worth is estimated at $157.7 billion,.
The world’s richest man, Tesla CEO Elon Musk, who is on the verge of acquiring Twitter for $44 billion, has a net worth of $246 billion, Forbes says.
The Amazon founder’s wealth has taken a massive hit since it hit a peak of $210 billion last year, making him the world’s richest person at the time. That’s despite his 2019 divorce from MacKenzie Scott, his college sweetheart, who took 25% of his Amazon stock in a settlement.
Scott’s net worth also got slashed by Friday’s Amazon rout, dropping $6 billion to $36.8 billion.
Since its peak, Bezos’s net worth has taken a discount of $57 billion, according to Bloomberg News. Indeed, before Friday’s carnage, Bezos’ wealth had already tanked more than 23% year to date as Amazon’s stock has taken a hit from the post-pandemic slowdown in online spending as well as increased labor costs and soaring rates of inflation.
Bezos currently owns 55.5 million shares of the company, equal to an 11.1% stake, according to company filings.
Bezos’ outsize wealth recently made headlines when Dutch officials reportedly weighed plans to dismantle a section of a 140-year-old bridge to make way for the his $500 million superyacht, which is under construction near Rotterdam. Preservationists said they will bombard the luxury cruiser with rotten eggs if the city follows through.
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I don’t blame them for unionizing. The low level people ae treated like crap.
His wife just gave a couple hundred million to Planned Parenthood.
I’ve seen commercials where he can reverse mortgage his home.
I stopped buying at amazon in 2017 and will never return.
I’m ok with this. Lose it all in fact.
How will he ever get by.
The stock markets are taking everything with it this time. Normally, there would be advantages to holding bond mutual funds. Nope, not this time. Or holding cash for safety. Nope, not with high COL inflation and low interest rates for income.
There the only one left I haven’t boycotted. However, very soon I will…I’m using them the way they’re using me. However, they are next on the list…
They’re …
Musk is going to take a beating on Twitter if he goes through with the deal.
Yeah?
How so?
His yacht had no sails yesterday.
I feel sorry for the guy, down to his last $150 billion.
He’s still Number 1 as far as weird goes. I hope he ends it all with his own laser, at some point.
Unions protect non performing people that is the ONLY damn purpose it has in this day and age!! MOST big companies now pay above minimum wage, have great benefits, paid sick leave, paid vacations unions are a HUGE pain in the ass to have to deal with!!!
“ MacKenzie Scott, his college sweetheart,”
Mackenzie Scott is not his college sweetheart. He met her at D E Shaw, his first real job.
For the average person Jeff Bezos’s products are far more useful and valuable than Musk’s.
“Unions protect non performing people that is the ONLY damn purpose it has in this day and age!! “
Union lovers = democrats and socialists
He could sell WaPo for a dollar if he’s REALLY short on cash.
“I’ve seen commercials where he can reverse mortgage his home.”
I’ve seen commercials where anyone can reverse mortgage their home.
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