Jeff Bezos Lost Almost $7 Billion in 24 Hours

Amazon founder and CEO Jeff Bezos lost nearly $7 billion due to a drop in the company’s quotes after it reported results in the third quarter to investors.

The company presented the report on the eve of October 24. It noted that Amazon’s operating income fell to $3.2 billion in the third quarter of this year compared with the same period in 2018 when this figure was $3.7 billion. The company’s net profit fell to $2,1 billion this quarter against $2.9 billion for the same reporting period in 2018.

After the presentation of the report, the value of the company’s securities fell by 9%, and as a result, Bezos lost $6.9 billion according to the channel’s estimates. According to NASDAQ, Amazon’s share price then rose to $1,760 apiece, but later fell again. As of this writing, the company’s securities are valued at $1,780.

According to CNBC, if Amazon quotes continue to fall, Bezos may lose the status of the richest person in the world and give the first place in the list of billionaires Bloomberg Billionaire Index to Microsoft founder Bill Gates. At the time of publication, Bezos’s status on the Bloomberg list was estimated at $111 billion, and Gates`s – $107 billion.

In early October, Forbes estimated that the capital of the head of Amazon reduced by $46 billion, in comparison with last year and amounted to $114 billion. This happened after Bezos divorced his wife Mackenzie in July. The head of Amazon left his ex-wife about 19.7 million shares, which is equivalent to 4% of the company. At that time, such a share was estimated at $38.3 billion. Later it became known that Mackenzie decided to donate half the capital to charity.

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