Jeff Bezos Loses $100 Billion Crown in Tech Wipeout

The tycoons behind the FANG stocks saw $7.6 billion wiped from their fortunes Wednesday as traders flocked to firms seen benefiting most from a potential reduction in the corporate-tax rate. Facebook Inc.’s Mark Zuckerberg fell the most, dropping $2.9 billion on the Bloomberg Billionaires Index, while Jeff Bezos’s short-lived reign as the $100 billion man ended after a tumble in Amazon.com Inc. shares knocked $2.5 billion off his net worth. Alphabet Inc.’s Sergey Brin and Larry Page, and Netflix Inc.’s Reed Hastings also fell.

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