Jeff Bezos lost $20.5 billion in 24 hours

Jeff Bezos is $20.5 billion more poor.The second richest man in the world lost this huge sum in 24 hours.To be more precise, this big loss happened during the April 29 stock market session.

Do not worry, however, because the entrepreneur still has a net worth of $148 billion as of April 30,Bezos is now over $100 billion from Elon Musk, the world's richest man.

His place as silver medalist is now threatened by the French businessman Bernard Arnault, the CEO of the luxury group LVMH -- Louis Vuitton, Tiffany, Hennessy etc

Arnault's fortune is estimated at $136 billion. Bill Gates comes in fourth place with a fortune of $125 billion.With the exception of Arnault, all the members of the Top 10 of this ranking

of the biggest fortunes of the planet lost money on April 29, which was a black day on Wall Street. It must be said that six of the ten richest people in the world are in tech.

Apart from Arnault, the other non-techs are Warren Buffett ($117 billion), Indian billionaires Gautam Adani ($122 billion) et Mukesh Ambani ($103 billion).Jeff Bezos' net wealth is primarily tied

 his 9.81% stake in Amazon as of March 2, according to FactSet.Amazon said on April 28 that it recorded a loss of $3.8 billion during the past quarter, or $7.56 per share,

compared with a profit of $8.1 billion a year ago, or a profit of $15.79 per share.Revenues rose 7% from last year to $116.4 billion, the slowest year-on-year growth in more than a decade.

Amazon said it sees operating income of between -$1 billion to +$3 billion on revenues in the range of $116 billion to $121 billion, compared to the Refinitiv forecast of around $125 billion,

for the current quarter."The pandemic and subsequent war in Ukraine have brought unusual growth and challenges," said CEO Andy Jassy.Today, as we're no longer chasing physical or staffing capacity,

our teams are squarely focused on improving productivity and cost efficiencies throughout our fulfillment network. We know how to do this and have done it before."


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