Jeff Bezos’s fortune has plummeted in value—again.
As Amazon’s largest shareholder, the Amazon CEO stands to lose big when Amazon does. And so he has, with his net worth dropping $8 billion on Monday after it fell $11 billion on Friday. The plunge began after the online retailer unveiled a lower-than-expected earnings report and gloomy projections for the holiday period on an earnings call Thursday afternoon. The report set Amazon (AMZN) shares plummeting on Friday after an already-tough October that saw the company’s stock decline in value by 23%.
Bezos’s net worth has declined by $37 billion since the beginning of October according to Bloomberg, making it the worst month for him this year.
But don’t waste too much of your sympathy. Even after a month of losses, his personal wealth is still $29 billion higher than it was on the first day of 2018, and he remains the richest man in the world. His current net worth of $128 billion still gives him a healthy lead over Bill Gates’s $92.8 billion.
