Jeff Bezos is no longer the richest man on earth, and this time it’s not because he’s flying into space. Stock Amazon Fell 7.6 percent on Thursday, shaving $ 13.9 billion from its founder’s fortune in one day – pushing Bezos to second place in the world’s richest list, behind French tycoon Bernard Arno.
Arno also lost some of its fortune this week, after it merged LVMH The founder fell 1.4 percent on Friday, causing him to lose nearly $ 3 billion. However, according to Forbes, Arno’s value is currently estimated at $ 192.9 billion, $ 500 million more than Bezos. Recently the two billion have swapped places in first and second place, and in the last 50 days Bezos is considered the richest man in the world.
During the first year of the plague, Arno made more than $ 100 billion – but the surge stopped over the summer, when the rise in LVMH shares came to a halt. Arno holds 47% of the corporation’s shares, with a market capitalization of more than $ 400 billion. LVMH’s subsidiaries include Louis Vuitton, Christian Dior, Tiffany & Co., Sfora, Moa & Chandon and more.
Photo: Associated Press, Thibault Camus
Despite the steep decline on Thursday, Amazon is very far from failing in the second quarter of 2021. While the company missed forecasts, it recorded revenue of over $ 100 billion for the third time in a row. Amazon reached $ 113 billion in revenue in the second quarter of 2021, up 27% from the same period last year.
Jeff Bezos, by the way, is not alone: Amazon’s decline also lowered the net worth of his ex.wife, Mackenzie Scott, to about $ 56 billion: a decline of $ 4.6 billion, making her the tenth richest person in the world.
Aside from Bezos and Scott, most of this week’s big losers live in China, where stocks continue to plunge because of government actions. The fortune of a founder Tencent, Ma Huateng, fell 4.7 billion to $ 47.5 billion this week, after the company’s shares fell 8.5%.