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Seth Rotherham
  • Jeff Bezos Just Took A Massive Financial Knock

    13 Mar 2020 by Carrie in Economics, Lifestyle, Money, Vibe
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    The year started out well for Jeff Bezos.

    His divorce is out of the way, he has a new girlfriend, he bought a very expensive mansion and reclaimed his position as the richest man in the world.

    Everything was coming up Jeff, it seemed, until this week.

    The multi-billionaire lost $8 billion of his personal wealth after the stock market crashed when Saudi Arabia cut oil prices, and the economy took a dive thanks to coronavirus.

    Over to IOL:

    According to Forbes, the Dow Jones suffered its worst decline since 1987 and this caused Bezos to lose more than 7% of his net worth as Amazon shares fell by nearly 8%.

    Bezos wasn’t alone in mourning his losses.

    Other multi-billionaires also felt the hit, in a big way.

    Bernard Arnault

    Bernard Arnault lost $7,7 billion this week when shares in Louis Vuitton dropped by 9%. The decline in luxury goods shopping has decreased considerably since coronavirus was declared a pandemic.

    Mark Zuckerberg

    The CEO of Facebook and man with questionable credentials as a real human person, lost 9% of his net worth, which amounts to roughly $5,7 billion dollars.

    Mukesh Ambani

    The oil magnate lost $5,8 billion from his net worth after Monday’s oil and stocks collapse. He also lost his place as Asia’s richest person, now that his net worth is only $42,3 billion. 

    The richest person in Asia is now, once again, Jack Ma, with an estimated net worth of $45,7 billion.

    It’s a good thing they all have a few billion dollars stashed away.

    And, if you’re feeling sorry for Bezos, go ahead and watch this guy visually recreate his wealth using grains of rice. 

    He’ll be fine.

    [source:iol]

    • ← Pandemic Stressing You Out? Do These Four Things To Train Yourself To Stop Worrying
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