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World’s Richest Man Jeff Bezos Sets New Record, Loses $19.2 billion in Two Days

The report also said that Bezos is still the world’s richest person, but he’s a lot closer to Bill Gates, world number two, than just a few months ago.

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Updated:October 30, 2018, 12:53 PM IST
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World’s Richest Man Jeff Bezos Sets New Record, Loses $19.2 billion in Two Days
File photo of Jeff Bezos. (Drew Angerer/Getty Images)
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Amazon founder Jeff Bezos, the world's richest person, lost USD 19.2 billion over the past two trading days, the most ever in that time, according to the Bloomberg Billionaires Index. This comes amid a global market selloff fuelled by fears of further trade tensions.

The report also said that Bezos is still the world’s richest person, but he’s a lot closer to Bill Gates, world number two, than just a few months ago.

Facebook's Mark Zuckerberg held the previous record, set in July, when the social-media giant reported revenue and user growth that missed estimates, reducing USD 16.5 billion from his fortune.

Technology stocks led Monday’s declines, with the Nasdaq Composite Index sliding to its lowest since April. Shares of Amazon tumbled 6.3 percent, on top of Friday’s 7.8 percent drop, leaving Bezos with USD 128.1 billion, down from a peak of USD 167.7 billion early last month.

The USD 8.2 billion hit he took Monday was the biggest by far on the Bloomberg ranking of the world’s 500 richest people. Mexican telecom tycoon Carlos Slim’s USD 2.5 billion drop was the day’s second-largest. Gates, the Microsoft Corp. co-founder, lost USD 558.3 million and is now worth USD 92.8 billion.
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