The Family Behind Gap Has Lost $1 Billion This Year As Stock Has Plummeted

Gap cofounder Doris Fisher and two of her three sons, Bob and Bill Fisher, in 2010.Gap’s unraveling stock price is taking a toll on the wealth of the billionaire clan behind the company.

last week, causing the stock to drop 6% in one day. That only extended its losses and solidified its position as one of the worst-performing retail stocks of the year, with a decline of 34%. The stock regained a bit of that lost ground, rising almost 1% on Monday. Despite the stock’s precipitous decline, they all remain billionaires. Doris, who also has a $1 billion art collection and significant cash and investments, is worth an estimated $2.4 billion. John, majority owner of the Oakland Athletics baseball team, is worth $2.5 billion. Bill and Bob both have fortunes of $1.2 billion.

The management shuffle comes at a time when the retailer is in the middle of splitting itself into two publicly traded companies. Old Navy will be spun off as a standalone company, and Gap, Banana Republic and several smaller brands will constitute the other company.

They’re probably still rich

because gap doesn't make clothing that fits well.

Should’ve bought Bitcoin

hmm

Well I feel so sorry.Tell me some news about how the poor people are coping on few dollars a week to feed their families

Billionaires are in part the product of everyone investing in index funds.

Also, this is deserved for playing a part in bringing high rise skinny jeans back.

They'll be ok. Maybe they can switch to wiping their asses with 20s instead of 50s.

Please excuse me while I gather my emotions after hearing this horrible news

Well at least they can still afford a nice pair of khakis

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