Business Insider Edition

Jeff Bezos' net worth plunged by R50 billion in Monday's stock rout — and the rest of the world's super rich lost R1.7 trillion

Yusuf Khan , Business Insider US
 Aug 06, 2019, 12:58 PM
CEO of Amazon Jeff Bezos.
  • Jeff Bezos yesterday lost $3.4 billion (R50 billion) in net worth on Monday, Bloomberg reported.
  • The world's richest lost 2.1% collectively after a global stock rout made dents in billionaires' fortunes. The 500 wealthiest lost $117 billion.
  • Mark Zuckerberg lost $2.8 billion (R41 billion) while Bill Gates lost $2 billion (R29 billion) in net worth.
  • For more stories, go to Business Insider South Africa.

The world's 500 wealthiest people lost a collective $117 billion (R1.7 trillion) as stocks plunged across the world after China's move to let its currency fall to 2008 levels sparked global fears of an escalation in the US-China trade war.

Other notable losses were Bernard Arnault losing $3.2 billion (R47 billion), Mark Zuckerberg down $2.8 billion (41 billion), Mukesh Ambani dropping $2.4 billion (R35 billion), and Bill Gates' net worth down by $2 billion.

Of those 500, Jeff Bezos, the world's wealthiest person, lost $3.4 billion (R50 billion), according to Bloomberg, as Amazon's stock plunged 3.2%.

"But he's still the richest person on the planet with $110 billion (R1.6 trillion)," Bloomberg said.

Bloomberg also noted that even after the losses, the 500 wealthiest individuals control roughly $5.4 trillion (R80 trillion), up 11% from the start of 2019.

Last week, Bezos had sold off more of Amazon's shares than previously thought, totalling roughly $2.8 billion (R41 billion).

Amazon shares plunged 3.2% on Monday.
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