Here's why Jeff Bezos lost $8 billion in the last 2 days—and why that’s not a big deal: by AngelAuYeung
etween last Friday afternoon after markets closed and 1 p.m. on Tuesday, Jeff Bezos’ net worth fell by $8 billion. That’s a huge sum — the combined value of the NFL’s New England Patriots and the New York Giants . But for Bezos, who’s worth about $181 billion, it was just a routine couple of days on the job —and a 4.4% decline in his fortune.
Elon Musk and Mukesh Ambani are two of the biggest gainers since March. Musk's net worth has nearly tripled, while Ambani's has almost doubled.Another big gainer of the past several months is Mukesh Ambani, an Indian business magnate and chairman of Reliance Industries, whose telecom firm Reliance Jio has attracted billions of dollars in investments in 2020, including $5.7 billion from Facebook in April and $1.2 billion from U.A.E.’s sovereign wealth fund Mubadala in June.
Of course, as some climb up the ranks, others must go down – and some go up and down a lot. Bernard Arnault was worth $108 billion in late January. He fell to $76 billion in mid March, as people worried about spending on luxury goods. He is back up to $111.1 billion, and number three in the world.
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