Jeff Bezos’ net worth fell by nearly $16 billion Friday, as Amazon’s stock was on track for its worst day in over two years, following a disappointing jobs report fueling a larger market selloff that accelerated an ongoing rout for Big Tech stocks.
Amazon shares fell over 9% to under $167 as of around 3:30 p.m., after reporting $147.9 billion in second-quarter revenue on Thursday, falling short of analyst projections of $148.5 billion.
This puts the stock on pace for its worst day since April 28, 2022, when Amazon’s shares fell by 14% after reporting earnings that fell nearly $1 per share below expectations, according to FactSet.
The value of Bezos’ stake in Amazon, totaling 928 million shares, dropped from $170.8 billion when trading closed on Thursday to about $154.9 billion.
Bezos is the second-richest person in the world with a net worth of $186.2 billion, following a decline of nearly 8% on Friday, according to our latest estimates. All 10 of the richest people in the world lost at least $1 billion, including Tesla’s Elon Musk ($5.2 billion), LVMH CEO Bernard Arnault ($3.1 billion) and Meta CEO Mark Zuckerberg ($3.3 billion).
