Jeff Bezos Loses $6 Billion: Loses $6 Billion
Published: January 31, 2016
Jeff Bezos Loses $6 Billion: Loses $6 Billion, Amazon CEO Jeff Bezos is now $6 billion poorer than he was before his online retailer’s fourth quarter earnings report came out, which was way below what Wall Street and investors expected, causing a drop in stock value by up to 11 percent.
The loss also cost Bezos his spot as the fourth richest person in the world. He now ranks fifth, while Carlos Slim Helu of Mexico takes over his spot, according to Forbes.
Despite the incident, Bezos remained positive about the performance of his company. “Twenty years ago, I was driving the packages to the post office myself and hoping we might one day afford a forklift. This year, we pass 100 billion dollars in annual sales and serve 300 million customers,” he said, according to the Daily Mail.
After all, Amazon is just one of the many companies that Bezos owns, and the other businesses are reaching great heights. Amazon Web Services Inc. (AWS) is showing great success, while Amazon Prime subscribers have dramatically increased in numbers over the past year, Business Insider noted.
While $6 billion is not just some pocket change that a person can easily let go of, the loss does not impair how much Bezos’ net worth has increased from last year. In fact, his worth increased by 40 percent. Simply put, he was the 15th richest person in the 2015 annual Billionaires list by Forbes, so ranking fifth this year is indeed a big leap.
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