November 21, 2018
The world’s richest executives at tech companies including Amazon, Apple, Facebook and Google took a massive hit as the stock market plunged on Tuesday and investors scrambled to sell their shares.
Amazon CEO Jeff Bezos has lost a stunning $42billion since early September, according to the Bloomberg Billionaires Index, as the e-commerce giant’s stock has dropped more than 25 percent.
Embattled Facebook CEO Mark Zuckerberg has also taken a beating as reports indicate he’s lost some $34billion since late July and is now worth $52billion – ranking as the seventh-richest person in the world.
Google chiefs Larry Page and Sergey Brin have lost a combined $20billion from their peak wealth in July as the search engine’s stock has dropped 20 percent and closed in a bear market on Monday for the first time since 2011.
The Dow closed Tuesday at 24,465, 551.8 points down from Monday after struggling all day. All of its 2018 gains have now been wiped out.
This article was posted: Wednesday, November 21, 2018 at 7:58 am