WASHINGTON
\nAmazon founder Jeff Bezos slipped to third place in the Forbes\u2019 Real-Time Billionaires List with his net worth dropping to $150.1 billion driven by a rout in Amazon shares.
\nThe billionaire saw $20.5bn of his wealth melt away after the e-commerce company\u2019s results left investors disappointed. This placed Bernard Arnault, chairman of French luxury group LVMH, in second place with a personal fortune of $157.7bn, according to Forbes.
\nIn contrast to the Forbes\u2019 list, the Bloomberg Billionaires Index named Mr Bezos the world\u2019s second richest person with a net worth of $148bn. At his peak this year, the Amazon founder enjoyed a net worth of more than $210bn.
\nAmazon shares were down 14 percent on Friday after it reported its first quarterly loss in seven years and the slowest sales growth since 2001 as the largest online retailer struggles to build off the major gains it made early in the pandemic. The company has been grappling with rising energy, a surge in inflation that may hold back sales, and labour costs, as well as changing shopping habits as people return to pre-pandemic activities.
\nBezos, 58, is now the third-biggest wealth loser this year, with his fortune dropping nearly $44bn since January 1, Bloomberg reported.
\nElon Musk, founder and chief executive of electric vehicle maker Tesla and rocket company SpaceX, is the world\u2019s richest person with a net worth of $246bn, the Forbes data showed. Musk, who struck a deal to acquire Twitter for $44bn, has sold about $8.5bn worth of Tesla shares in an apparent move to begin funding his buyout of the microblogging platform.
\nHe offloaded about 9.6 million shares of the electric vehicle maker this week, according to regulatory filings made with the US Securities and Exchange Commission.
\nMicrosoft founder Bill Gates is the world\u2019s fourth-richest person, with a net worth of $129.4bn, according to Forbes. He is followed by self-made billionaire Gautam Adani, with a personal fortune of $125.9bn, Forbes data showed.
\nThe Adani Group chairman edged out Warren Buffet, chairman of Berkshire Hathaway, on Monday to join the top five billionaires club for the first time, the rich list showed. In February, Adani, 59, was named the wealthiest person in Asia, with a net worth of $88.5bn and ranked as the 10th-richest person in the world at the time, Bloomberg reported.<\/p>\n","protected":false},"excerpt":{"rendered":"
WASHINGTON Amazon founder Jeff Bezos slipped to third place in the Forbes\u2019 Real-Time Billionaires List with his net worth dropping to $150.1 billion driven by a rout in Amazon shares. The billionaire saw $20.5bn of his wealth melt away after the e-commerce company\u2019s results left investors disappointed. This placed Bernard Arnault, chairman of French luxury […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-258552","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n