{"id":107786,"date":"2024-08-04T09:06:16","date_gmt":"2024-08-04T09:06:16","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/04\/worlds-richest-lose-134-billion-in-stock-slump-led-by-bezos-times-of-india\/"},"modified":"2024-08-04T09:06:16","modified_gmt":"2024-08-04T09:06:16","slug":"worlds-richest-lose-134-billion-in-stock-slump-led-by-bezos-times-of-india","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2024\/08\/04\/worlds-richest-lose-134-billion-in-stock-slump-led-by-bezos-times-of-india\/","title":{"rendered":"World\u2019s richest lose $134 billion in stock slump, led by Bezos &#8211; Times of India"},"content":{"rendered":"<div style=\"text-align:center\"><img loading=\"lazy\" decoding=\"async\" width=\"1600\" height=\"900\" src=\"https:\/\/i2.wp.com\/static.toiimg.com\/photo\/msid-112259074,imgsize-64964.cms?resize=1600,900&amp;ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"World\u2019s richest lose 4 billion in stock slump, led by Bezos &#8211; Times of India\" title=\"World\u2019s richest lose 4 billion in stock slump, led by Bezos &#8211; Times of India\" \/><\/div>\n<div>Jeff Bezos<!-- -->\u2019s net worth shrank by $15.2 billion Friday, leading a wide-ranging slump that erased $134 billion from the fortunes of the 500 richest people in the world.<br \/>Shares of Amazon.com Inc. slid 8.8% amid a broader selloff in the market, dropping Bezos\u2019 net worth to $191.5 billion, according to the Bloomberg Billionaires Index. The one-day wipeout is his third-worst, trailing only April 4, 2019, when the Amazon co-founder\u2019s wealth tumbled $36 billion following his divorce settlement, and April 29, 2022, when <!-- -->Amazon shares<!-- --> plunged 14%.<br \/>The <!-- -->Nasdaq 100 Index<!-- --> fell 2.4%, dragging down the fortunes of other <!-- -->tech billionaires<!-- --> including Elon Musk and Oracle Corp.\u2019s Larry Ellison, whose net worths were pared $6.6 billion and $4.4 billion, respectively. Uncertainty over possible Federal Reserve rate cuts, as well as some high-profile earnings disappointments, have helped plunge the tech-heavy index into correction territory, wiping out more than $2 trillion in value in just over three weeks.<br \/>Investors have also become jittery over fears that this year\u2019s AI-fueled gains are overdone or the market is too concentrated. The decline in Amazon shares \u2014 the biggest drop since April 2022 \u2014 came after the company said on an earnings call that it planned to continue spending big on AI even at the expense of short-term profits.<br \/>Technology billionaires Mark Zuckerberg, Sergey Brin and Larry Page also each lost more than $3 billion Friday as shares of Meta Platforms Inc. and Alphabet fell in New York trading. Tech tycoons in total saw $68 billion carved from their fortunes, according to Bloomberg\u2019s wealth index.<br \/>Bezos, 60, the world\u2019s second-richest person, has been steadily offloading Amazon shares this year. He sold stock worth about $8.5 billion over nine trading days in February. And on a day last month when Amazon hit a fresh record, he disclosed a plan to sell 25 million additional shares worth $5 billion.<br \/>The additional sales would bring his total this year to roughly $13.5 billion, according to Bloomberg\u2019s calculations. He would still hold almost 912 million shares, or about 8.8% of Amazon, once those sales are complete.<br \/>His wealth also derives from space-exploration company Blue Origin and the Washington Post.<\/div>\n<p><script>\nvar _mfq = window._mfq || [];\n_mfq.push([\"setVariable\", \"toi_titan\", window.location.href]);\n!(function(f, b, e, v, n, t, s) {\n    function loadFBEvents(isFBCampaignActive) {\n      if (!isFBCampaignActive) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        if (f.fbq) return;\n        n = f.fbq = function() {\n          n.callMethod ? n.callMethod(...arguments) : n.queue.push(arguments);\n        };\n        if (!f._fbq) f._fbq = n;\n        n.push = n;\n        n.loaded = !0;\n        n.version = '2.0';\n        n.queue = [];\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/connect.facebook.net\/en_US\/fbevents.js', n, t, s);\n      fbq('init', '593671331875494');\n      fbq('track', 'PageView');\n    };\n    function loadGtagEvents(isGoogleCampaignActive) {\n      if (!isGoogleCampaignActive) {\n        return;\n      }\n      var id = document.getElementById('toi-plus-google-campaign');\n      if (id) {\n        return;\n      }\n      (function(f, b, e, v, n, t, s) {\n        t = b.createElement(e);\n        t.async = !0;\n        t.defer = !0;\n        t.src = v;\n        t.id = 'toi-plus-google-campaign';\n        s = b.getElementsByTagName(e)[0];\n        s.parentNode.insertBefore(t, s);\n      })(f, b, e, 'https:\/\/www.googletagmanager.com\/gtag\/js?id=AW-877820074', n, t, s);\n    };\n    function loadSurvicateJs(allowedSurvicateSections = []){\n      const section =  window.location.pathname.split('\/')[1]\n      const isHomePageAllowed = window.location.pathname === '\/' && allowedSurvicateSections.includes('homepage')\n      if(allowedSurvicateSections.includes(section) || isHomePageAllowed){\n        (function(w) {\n         function setAttributes() {\n                    var prime_user_status = window.isPrime ? 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The one-day [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":107787,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/static.toiimg.com\/photo\/msid-112259074,imgsize-64964.cms","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[89176,22655,1289,273,22652,2295,210,89175,10623,8188,1601,89174,89173,272,2306],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/107786"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=107786"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/107786\/revisions"}],"predecessor-version":[{"id":107788,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/107786\/revisions\/107788"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/107787"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=107786"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=107786"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=107786"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}