Mark Zuckerberg and Jeff Bezos should hang out this weekend. They could share their tales of woe of how much of their net worth evaporated in the past few days.
Zuck waved goodbye to 12 figures, a cool $100 billion-plus, and Bezos got stung too. Amazon’s dramatic 21% stock dip means $23 billion of his fortune could evaporate.
Currently, Musk is second on the Forbes list of the wealthiest people in the world with $171 billion, but editors are preparing to adjust that as soon as today.
What triggered the decline in the stock price is the announcement Amazon made that they expect sales to be down big time over the Christmas shopping period. Maybe the crappy Thursday Night NFL matchups they’ve put on Amazon Prime have something to do with it too.
The other person who will have to adjust her lifestyle a bit is his ex-wife, MacKenzie Scott. She will see the fortune she received from Jeff when the divorced decline by about $7 billion. She’s intent on giving it all away, but until the stock price stabilizes or she gets a job and makes money, she’ll have less to hand out. Incredibly, she was the 12th richest person in the world after their divorce.
Andy Jassy is the CEO running the show for Amazon now, He’s feeling the heat of the recession and what it means for their bottom line, but he’s still capable of a pretty blatant spin job when needed.
“It’s clear that particularly during these uncertain economic times, customers appreciate Amazon’s continued focus on value and convenience. We’re also encouraged by the steady progress we’re making on lowering costs in our stores fulfilment network, and have a set of initiatives that we’re methodically working through that we believe will yield a stronger cost structure for the business moving forward.
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