Bezos Falls to No. 3 After Selloff Erases $2 Billion of His Fortune
- Tech billionaires lead declines with $13.8 billion drubbing
- Spain’s Amancio Ortega reclaims No. 2 spot, behind Bill Gates
Bob O'Donnell, Technalysis Research president, and Bloomberg's Brad Stone discuss the outlook for Amazon.com Inc. with Bloomberg's Emily Chang on 'Bloomberg Technology.' (Source: Bloomberg)
Global tensions sparked a market selloff Thursday that drained $42.7 billion from the net worth of the world’s 500 richest people and knocked Amazon.com Inc. founder Jeff Bezos from his spot as the world’s second-richest person.
The rout in U.S. stocks, the worst since May, lopped $2 billion from Bezos’s fortune, according to the Bloomberg Billionaires Index, as shares of the online retailer tumbled 2.6 percent to $956.92. Bezos, 53, is now worth $82.2 billion, about $600 million behind Spanish retail magnate Amancio Ortega, founder of the Zara clothing chain.