Jeff Bezos loses billions as Amazon's stock slips, yet manages to top rich list

Last Updated: Wed, Oct 31, 2018 10:30 hrs
Amazon CEO - Jeff Bezos (Reuters image)

Even the world's richest man can't be immune from days of market crash. Jeff Bezos, the CEO of Amazon celebrated as the world's richest man may have been witness to a market crash.

Bezos's wealth on Tuesday dwarfed by an estimated $20 billion. That with barely two days of negative trading in stocks of his company- Amazon.

On Monday, the American e-commerce tycoon's wealth slipped by $8 billion after stocks of Amazon took a beating with a sombre mood in US markets.

Amid the melee that gripped the markets on Tuesday, Bezos's wealth further shrinked. The Bloomberg Billionaire Index pegged that Bezos's wealth eroded by $19.2 billion in two trading sessions.

The dip in valuation on Amazon and the impact on Bezos's wealth has however continued from Friday and there are chances that Bezos could have lost more than what the report suggests. For instance, Amazon's market-capitalisation itself is down by $87 billion since Friday. This, after the e-commerce major reported of a lower-than-expected sales outlook.

Bezos, in spite of this massive white-wash in market capitalisation, has managed to cling onto the mantle of the World's Richest List. He also has managed to hold onto the title of the richest man with a wealth of over $100 billion.

Bezos's ownership of 16% in Amazon, percolates into a personal wealth of $128 billion. This, has helped Bezos stay put on the rich list.

The next on the list is Bill Gates with a wealth of $92.8 billion.

Investment Guru Warren Buffett comes third on the rich-list with an estimated wealth of $82.3 billion.

Bezos's stocks, for the uninitiated, have scraped through the dotcom bubble and even a 2008 equity crash.

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