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Jeff Bezos on Brink of $23 Billion Wealth Drop, Among Worst On Record

Amazon shares plunged 21% in extended trading after the company forecast a lackluster holiday quarter.

Jeff Bezos, founder of Amazon.com Inc.

Jeff Bezos, founder of Amazon.com Inc.

Photographer: Robert Perry/EPA

Jeff Bezos is set to see as much as $23 billion erased from his fortune after Amazon.com Inc. projected sluggish sales for the holiday shopping season, sending shares plunging in after-hours trading.

The stock fell as much as 21% after the market closed Thursday. If that drop carries into Friday’s session, the Amazon founder’s wipeout would be the fifth-largest one-day decline in wealth on record, according to the Bloomberg Billionaires Index.