Jeff Bezos Loses $20 Billion This Week As Amazon’s Stock Tanks To Historical Lows

Amazon’s owner Jeff Bezos lost $20 billion this week as markets took their sharpest dive since the start of the pandemic. The drop came as a rection to the Federal Reserve adjusting its interest rates in response to rising inflation.

As a consequence, the entire rechnology sector, which includes cryptocurrency, online gaming, and e-commerce took a hit.

The financial tumble leaves Bezos vulnerable to losing his spot as the second-richest person in the world to French fashion magnate Bernard Arnault, who was one of few tycoons to escape the week financially unscathed.