Jeff Bezos is still the richest man on earth, even though Amazon’s shares fell 7.2% to $3,339.18 per share, and decreased the company’s former chief executive officer’s fortune to $193.6 billion.
The Bloomberg Billionaire Index revealed that despite this fall, Amazon’s fortune is way ahead of Tesla’s.
It was said that Amazon’s pandemic bump had gone down as vaccinated shoppers left their homes.
After-market results did not meet Wall Street’s expectations, it might be the end of the sales surge, and the fall erased 80 % of the wealth gained for 2021. Amazon’s fortunes went tumbling after the results showed a weaker than expected performance in the 2nd quarter.
America’s tech Billionaires had a mixed week. After Mark Zuckerberg touted Facebook’s future to be the all, encompassing “metaverse” concerns about advertising sales growth, caused the company’s shares to lose 5.4 billion. Microsoft Corp and Facebook inc did not see huge bumps in the company’s wealth for the billionaires either.