Tech

Jeff Bezos lost about $7 billion on Thursday

Key Points
  • Amazon’s third-quarter earnings disappointed investors on Thursday, driving its stock down as much as 9% in after hours trading.
  • As a result, Amazon CEO Jeff Bezos, the world's richest person, lost about $7 billion in stock value.
  • If this evening's losses hold through the market close tomorrow, Bezos will lose his title as world's richest person to Microsoft co-founder Bill Gates.
Amazon CEO Jeff Bezos announces Blue Moon, a lunar landing vehicle for the Moon, during a Blue Origin event in Washington, DC, May 9, 2019.
Saul Loeb | AFP | Getty Images

Amazon CEO Jeff Bezos, the world's richest person, just lost a fortune in a single evening.

Amazon reported third-quarter earnings Thursday that disappointed investors and sent Amazon stock spiraling down as much as 9% in after hours trading. As of 6:00 p.m. ET, the stock was down more than 6%, and stood at about $1,662 a share.

For Bezos, who owns 57,610,359 shares of Amazon, according to the most recent SEC filing, that means a loss of nearly $6.9 billion.

If this evening's losses hold through tomorrow's market close, Bezos will lose his title as world's richest person to Microsoft co-founder Bill Gates, according to the Bloomberg Billionaires Index.

Correction: A summary point was updated to reflect that Bill Gates is the Microsoft co-founder.

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