Jeff Bezos’s Very Bad October Isn’t Over Yet as His Net Worth Continues to Plunge
Jeff Bezos’s fortune has plummeted in value—again.
As Amazon’s largest shareholder, the Amazon CEO stands to lose big when Amazon does. And so he has, with his net worth dropping $8 billion on Monday after it fell $11 billion on Friday. The plunge began after the online retailer unveiled a lower-than-expected earnings report and gloomy projections for the holiday period on an earnings call Thursday afternoon. The report set Amazon (AMZN) shares plummeting on Friday after an already-tough October that saw the company’s stock decline in value by 23%.
Bezos’s net worth has declined by $37 billion since the beginning of October according to Bloomberg, making it the worst month for him this year.
But don’t waste too much of your sympathy. Even after a month of losses, his personal wealth is still $29 billion higher than it was on the first day of 2018, and he remains the richest man in the world. His current net worth of $128 billion still gives him a healthy lead over Bill Gates’s $92.8 billion.