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Billionaire Jeff Bezos lost $20.5 billion in 24 hours

The founder of Amazon saw his personal fortune melt by more than $20.5 billion in 24 hours.

Jeff Bezos is $20.5 billion more poor.

The second richest man in the world lost this huge sum in 24 hours. To be more precise, this big loss happened during the April 29 stock market session.

Do not worry, however, because the entrepreneur still has a net worth of $148 billion as of April 30, according to Bloomberg Billionaire Index. Bezos is now over $100 billion from Elon Musk, the world’s richest man.

His place as silver medalist is now threatened by the French businessman Bernard Arnault, the CEO of the luxury group LVMH — Louis Vuitton, Tiffany, Hennessy etc —. Arnault’s fortune is estimated at $136 billion. Bill Gates comes in fourth place with a fortune of $125 billion.

With the exception of Arnault, all the members of the Top 10 of this ranking of the biggest fortunes of the planet lost money on April 29, which was a black day on Wall Street. It must be said that six of the ten richest people in the world are in tech. Apart from Arnault, the other non-techs are Warren Buffett ($117 billion), Indian billionaires Gautam Adani ($122 billion) et Mukesh Ambani ($103 billion).

Jeff Bezos’ net wealth is primarily tied to his 9.81% stake in Amazon as of March 2, according to FactSet.

 

 

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