Jeff Bezos loses R323 billion in a day after disappointing Amazon results

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Jeff Bezos saw $20.5 billion (R323.1 billion) of his fortune melt away after Amazon.com Inc.’s results left investors disappointed, helping fuel the worst month for technology stocks in years.

Shares of the e-commerce company were down 14% on Friday after it reported a quarterly loss and the slowest sales growth since 2001.

The world’s 500 richest people lost a total of more than $54 billion Friday amid the broader market rout, according to the Bloomberg index.

Source: News Formal (newsformal.com)

 

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