Amazon executive chairman Jeff Bezos is now the fourth richest person in the world after his company’s stock continued to decline post-pandemic. He is now worth $108 billion after leading the billionaires’ list for four consecutive years, between 2017 and 2021.
In August 2020, Bezos had a whopping net worth of $200 billion as Amazon’s business saw tremendous patronage during the pandemic. However, since January 2022, the company’s shares price has dropped from $170 to $85 on Tuesday, December 20.
According to a CNBC article, the American e-commerce giant has finally giving up all the gains it saw during the pandemic and returned to about the same price as it was in March 16, 2020, before the pandemic disrupted our way of lives and reliance on technology.
Amazon is not alone as tech stocks have seen trillions of dollars wiped from their value. Even despite its huge losses, Bezos’ Amazon still fared better than Mark Zuckerberg’s Meta and Elon Musk’s Tesla in 2022.
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The billionaire’s index has seen rearrangements in December 2022 as Bernard Arnault, the CEO of luxury conglomerate LVMH, is set to finish the year as the wealthiest person in the world with a net worth of $178 billion.
Musk, who had been leading for most of the year saw his previous $219 billion net worth slashed to $163 billion, and he is currently second.
Meanwhile, chairman and founder of Adani Group, Gautam Adani, is the third richest person with a net worth of $134 billion and Warren Buffett is fifth with a $104 billion net worth.
Mark Zuckerberg is now out of the top ten richest persons list since the first time he entered the chart. His investments in Meta continue to sap from his worth and he currently has $43.5 billion to his name. Just over a year ago, the Meta CEO was worth $142 billion in September 2021.
The post-pandemic crisis has seen tech firms, that grew their staff strength quickly, lay off significant per cent of employees.
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