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