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Bezos sets new wealth record, losing $19.2 billion over two days

Reade Pickert

Bloomberg

| Tue, October 30, 2018 | 05:06 pm
Bezos sets new wealth record, losing $19.2 billion over two days

Amazon and Blue Origin founder Jeff Bezos at the Air Force Association's Annual Air, Space & Cyber Conference in Oxen Hill, MD, on September 19, 2018. (AFP/Jim Watson)

Jeff Bezos is still the world’s richest person, but he’s a lot closer to No. 2 Bill Gates than just a few months ago.

The Amazon.com Inc. founder lost $19.2 billion over the past two trading days -- the most ever in that time, according to the Bloomberg Billionaires Index -- amid a global market selloff fueled by fears of further trade tensions. Facebook Inc.’s Mark Zuckerberg held the previous record, set in July, when the social-media giant reported revenue and user growth that missed estimates, lopping $16.5 billion from his fortune.

Read also: Amazon's Jeff Bezos unveils $2 billion philanthropic fund

Technology stocks led Monday’s declines, with the Nasdaq Composite Index sliding to its lowest since April. Shares of Amazon tumbled 6.3 percent, on top of Friday’s 7.8 percent drop, leaving Bezos with $128.1 billion, down from a peak of $167.7 billion early last month.

The $8.2 billion hit he took Monday was the biggest by far on the Bloomberg ranking of the world’s 500 richest people. Mexican telecom tycoon Carlos Slim’s $2.5 billion drop was the day’s second-largest. Gates, the Microsoft Corp. co-founder, lost $558.3 million and is now worth $92.8 billion.

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