Jeff Bezos’ net worth took the hit of about $13.5 billion.
This happened after the retailer posted earnings in the afternoon on Thursday, July 29. They fell short of analyst expectations. Amazon.com Inc’s drop of 7.2 per cent to $3,339.18 at 9:53 am in New York on July 30, the firm’s ex-chief Jeff Bezos’ net worth fell $13.5 billion and ended at $193.6 billion, erasing most of the gains Bezos has seen this year.
Amazon shares are down 7% in early trading Friday. That takes his net worth, as ranked on the Bloomberg Billionaires Index, from $207 billion to $193.6 billion.
Although he has stepped down from the post of the CEO of Amazon, Bezos still owns about 11% of the company and serves as the firm’s executive chairman.
Even with the dip, however, he remains the world’s richest person, ahead of Elon Musk. The gap is close to $8 billion. Bezos has held the title since the start of this year and had beaten the Tesla founder to get there.
Amazon posted revenues of more than $100 billion for the third consecutive quarter. It fell short, though, of analysts’ top-line projections and offered a weak third-quarter guidance, which has caused the stock dip.
The billionaire, however, seems to be set more on spaceflight than he is on the status of his nearly inexhaustible wealth. His venture, Blue Origin, was able to have a shutter successfully take him to the edge of space and return him safely to Earth. He is now trying to land a joint contract, along with Musk’s SpaceX, with NASA to help take man to the Moon again. He has shown a willingness to waive close to $2 billion off for the sake of NASA’s budgetary constraints.
Blue Origin has also sold tickets worth about $100 million to future passengers.