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Jeff Bezos Net Worth Update

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82.4 billion USD

When markets opened on July 27, Jeff Bezos was worth $90.6 billion, making him the world’s richest person for the first time. By 1:30 P.M. Eastern Time that afternoon, his fortune had dipped below that of Bill Gates. It has continued to fall in the two weeks since.

Bezos, founder and chief executive of e-commerce behemoth Amazon, is now worth an estimated $82.4 billion—$8.1 billion less than the morning of July 27—according to Forbes’ real-time rankings of the world’s billionaires. He is now the third-wealthiest person on the planet, trailing Spanish retailer Amancio Ortega ($83.1 billion) and Gates ($89.5 billion).

The decline in Bezos’ net worth is wholly attributable to Amazon’s falling stock price. Shares have dropped 10% since hitting a record high of $1,083 per share on July 27; that afternoon, Amazon announced quarterly earnings that were below analysts’ estimates. Even after the recent downdraft, the stock has performed tremendously well this year, having gained nearly 30% since January 1.

The company has made headlines in recent months for a string of major moves.
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Article Credit: Forbes

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