Business

How Jeff Bezos lost six billion euros in one evening

  • Jeff Bezos


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Six billion euros. It is the sum that lost in one evening the richest man of the world. The fortune of Jeff Bezos plummeted to 103.9 billion dollars (93.8 billion euros) on October 24, causing him to lose, for a few hours, his crown of the richest man on the planet for the benefit of the co-founder from Microsoft, Bill Gates ($ 105.7 billion). A title that he however recovered the next day, explains Forbes. The impressive losses of Jeff Bezos are due to the bad results of his company, Amazon, for the third quarter of 2019.

The e-commerce giant indeed disappointed Wall Street with a net profit down 27.6% year on year to 2.1 billion. Sums well below expectations due to heavy investments to ensure deliveries in 24 hours in the United States. In the face of these announcements, the title of Amazon quickly stalled on the New York market, and the action of the multinational fell nearly 9% in 20 minutes, to 1,624 dollars after the closing of the stock exchanges. If the next day the online trading giant rebounded slightly, at $ 1,657 a share, the losses remain heavy.

First “centiillary”

This stock market plunge has cost a small fortune to Jeff Bezos. But the billionaire's financial losses are not due to his company alone. The bank accounts of the richest CEO in the world have also recently been reduced by $ 38 billion. Blame his divorce with MacKenzie Bezos after more than 25 years of marriage. The American novelist received 25% of Amazon's shares.

⋙ .: “The world according to Amazon”: extracts from the shock book

Jeff Bezos dethroned Bill Gates in the ranks of the richest men in the world in 2018. He had ended 24 years of undivided dominance of the former CEO of Microsoft. Last year, Amazon's boss had even become the first “centimillionaire” to appear in the Forbes 400 list with a fortune estimated at 160 billion dollars.

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