Jeff Bezos Loses $8 Billion as Amazon Stocks Nosedive
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World’s second richest man, Jeff Bezos has seen his net worth decline by $8.28 billion, bringing his year-to-date loss to over $30 billion
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The Amazon founder however remains the second-richest person in the world, with an estimated net worth of $162 billion
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On Monday Amazon shares came down by more than 5% as the Russia-Ukraine conflict progresses and efforts for a ceasefire failing
The ongoing conflict in Eastern Europe, between Russia and Ukraine, has brought great losses to the world’s most elite, causing them to give up billions in fortune. This was demonstrated on Monday when Amazon Chairman, Jeff Bezos lost more than 5% of his fortune.
The wealth of the world’s second-richest man declined from $8.28 billion, taking his year-to-date loss to $30.3 billion, behind only Elon Musk and Mark Zuckerberg. According to Bloomberg Billionaires Index, the 58-year-old currently has an estimated net worth of $162 billion.
Amazon shares crashed 5.31% on Monday, as efforts to negotiate a ceasefire between Russia and Ukraine failed. It also followed news that Russia had taken hold of the Zaporizhzhia nuclear power plant in Ukraine.
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A December 2021 SEC filing indicates that Jeff Bezos owns 10% of online retailer, Amazon, along with other investments in Blue Origin and the Washington Post.
Despite Monday’s huge wealth decline, Bezos is only second to Elon Musk ($208) in the race to become the richest person in the world.
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