The stock market is passing a tough transformation for last two weeks and fortune 500 people have lost around a $100 Billion over this two weeks. While Jeff Bezos alone has lost $22 Billion in just 2 weeks due to Amazon’s stock drops.
Stock Market crash is not a new topic in the economic zone but for tech giants it’s really a tough time to lose money. The retail giant Bezos have seen $6.5 Billion rise in just 5 minutes 2 years ago. But this month, Amazon stocks has gone through a very rough drop which made him lose 16% of the entire lose of fortune 500.
The odd thing is, the money Jeff has lost in 2 weeks is the entire net worth of Elon Musk and on the other hand what he earned in 5 minutes 2 years ago is the entire net worth of Richard Branson. It is soo easy for Jeff Bezos, the richest person on earth with a net worth of $142 Billion, to lose and earn money.
Bezos is not the only person to lose. Other 2 tech giants Bill Gates and Mark Zuckerberg are also on list of losing tons of money. An estimated $32.1 Billion has been wiped from their collective Net worth and America is the single country to lost most of the money due to the stock drop.
The European Luxurious product tycone Barnerd Arnault, the owner of LVMH has also strayed $4.2 Billion due to the tightening of Chinese boarder check. Only on Friday this French tycone has lost $3.5 Billion after the social media rumor of the issue of boarder check for prevention of unauthorized products.