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.
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