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Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day - Business - Nairaland

Nairaland ForumNairaland GeneralBusinessJeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day (25201 Views)

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Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by OLAADEGBU(op): 2:50am On Aug 06, 2024
Jeff Bezos loses $15BN in a single day leading massive $134billion stock slump for world's 500 richest people including Mark Zuckerberg and Elon Musk

Jeff Bezos lost $15billion from his wealth in a single day after a massive stock slump saw the world's 500 richest people including Mark Zuckerberg and Elon Musk lost $134billion overall.

Shares of Amazon.com Inc went down by 8.8 per cent on Friday as part of a wider sell-off in the market, according to Bloomberg. This dropped Bezos' net worth to $191.5billion, because his wealth being wrapped up in his company.

Bezos has been repeatedly offloading Amazon shares this year, selling $8.5billion in stocks in February and announcing plans to sell another $5billion worth of shares, which would still leave him with 912 million shares, or 8.8 per cent of the stock.

The tech-heavy Nasdaq 100 index fell by 2.4 per cent, which also impacted billionaires like Mark Zuckerberg and Elon Musk included in the list of the world's 500 richest people.

Zuckerberg's Meta Platforms Inc shares fell by 1.9 per cent, causing him to lose more than $3billion in value, while Musk's net worth of $252billion also dropped by $6.6billion as his Tesla shares plunged by 4.2 per cent.

Friday's $15.2billion loss is the third-worst wipeout Bezos has experienced after his wealth shrank by $36billion after his divorce in April 2019 and when Amazon's shares fell by 14 per cent in April 2022.

The recent plunge of the Amazon shares comes after the company said that it would continue to invest heavily into AI, despite fears by investors all over the industry that the gains fueled by AI this year are overdone.

Other billionaire who lost money due to the Nasdaq falling are Oracle Corp's Larry Ellison, whose wealth dropped by $4.4billion, as well as tech billionaires Sergey Brin and Larry Page who each lost more than $3billion.

The aftermath of the Nasdaq index falling on Friday was still felt on Monday as stock markets around the globe continued plunging amid fears the US economy may be on track for a recession as Japan suffered its worst sell-off since 'Black Monday' in 1987.

Experts at investment bank Goldman Sachs said they now believed there was a staggering 25 per cent chance of a recession in the US - up ten percent from their previous estimate of 15 per cent, while JP Morgan put the chances of a recession at 50 per cent.

US stock index futures tumbled on Monday, with those tied to the Nasdaq falling nearly 4 per cent, but traders are now ramping up bets that the Federal Reserve will announce an emergency interest rate cut in response to the global stock market crash and to avoid a huge recession.

The sell-off followed the release of a dismal unemployment report last week.

Top 10 billionaires - and how much money they lost

1. Elon Musk - Tesla: $235bn, -$6.57bn

2. Jeff Bezos - Amazon: $191bn, -$15.2bn

3. Bernard Arnault - LVMH: $182bn, -$1.21bn

4. Mark Zuckerberg - Meta: $174bn, -$3.39bn

5. Bill Gates - Microsoft: $155bn, -$1.95bn

6. Larry Page - Alphabet (Google): $150bn, -$3.45bn

7. Larry Ellison - Oracle: $148bn, -$4.37bn

8. Steve Ballmer - Microsoft: $142bn, -$2.83bn

9. Sergey Brin - Alphabet (Google): $141bn, -$3.24bn

10. Warren Buffett - Berkshire Hathaway: $135bn, -$1.31bn
DAILYMAIL.CO.UK

Oh no, so sad. 💔🎻

Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by TemplarLandry:
These guys are loaded.

I dedicate "I Believe" by Asake to them.
Great jam!
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by DMCY: 4:21am On Aug 06, 2024
When they talk about vanity, na this kind vanity I like😂
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by JoeyNaza: 2:02pm On Aug 06, 2024
This kind money sef. True true money get best-friends and strong enemies.
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Skillsnigeria: 2:02pm On Aug 06, 2024
Noted
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by 1bunne4lif(m): 2:02pm On Aug 06, 2024
That's my name up there 🏃🏃🏃🏃🏃
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by christejames(m): 2:02pm On Aug 06, 2024
How does this news cushion the effect of Tinubu's hardship on hapless Nigerians undecided?
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Chijeep(m): 2:03pm On Aug 06, 2024
a vivid example of THE RICH ALSO CRY, but wait ooo I don't think that any of these guys will feel the heat.
MY G, ABEG MAKE moreMONEY OOOO
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by forerunner022(m):
I lost #7,500 yesterday and I cried all the way home. This life nor balance.
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Toosure70: 2:03pm On Aug 06, 2024
God , touch my brain, Give me divine wisdom to add values
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by wellmax(m): 2:03pm On Aug 06, 2024
One question the money they lost, who gained it?
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Deziwealth: 2:03pm On Aug 06, 2024
Hahahahaha 😂😆
Who will the Igbos' animals blame now?
Tinubu?
I don't think so
Children of hate over to you.

Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by FitCorper: 2:03pm On Aug 06, 2024
I know say if I hail Jagaban now, nairalanders ready to eat me raw. But I love Jagaban. God bless Nigeria. #techbubble
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by chopnaira: 2:04pm On Aug 06, 2024
Recession is coming to the US. It will drag most of the world with it.

Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Arostar2023: 2:04pm On Aug 06, 2024
They will make it back when the stock market rebounds.
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by DryMouth: 2:04pm On Aug 06, 2024
.
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by STEWpid(f): 2:05pm On Aug 06, 2024

Vanity crew don dey vex,,


They were about to type it but when they remembered the hot backlash that would come - they just read and pass!!









C h a i..
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by FitCorper: 2:05pm On Aug 06, 2024
grin
wellmax:
One question the money they lost, who gained it?
Jagaban de set our compass to begin gain their loss. Life na merry go round.
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by wellmax(m): 2:05pm On Aug 06, 2024
If na Nigeria now we go don blame government tire
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Deziwealth: 2:05pm On Aug 06, 2024
FitCorper:
I know say if I hail Jagaban now, nairalanders ready to eat me raw. But I love Jagaban. God bless Nigeria. #techbubble
I'm with you, God bless Nigeria, I love jagaban too
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Opmic: 2:05pm On Aug 06, 2024
Abeg the money they lost can it be found
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Lurdd: 2:05pm On Aug 06, 2024
wellmax:
One question the money they lost, who gained it?
Good question
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Deziwealth: 2:05pm On Aug 06, 2024
wellmax:
If na Nigeria now we go don blame government tire
OSU pig hand work
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by iHart(m): 2:06pm On Aug 06, 2024
Who gained the money they lost?
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by FitCorper: 2:06pm On Aug 06, 2024
Deziwealth:
I'm with you, God bless Nigeria, I love jagaban too
God bless you and your household bro. It’s refreshing to see forward thinkers on Nairaland 😁
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by YeyeGbami: 2:07pm On Aug 06, 2024
Chaii omo see trillions of naira
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Gotocourt: 2:07pm On Aug 06, 2024
tongue
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by emmabest2000(m): 2:08pm On Aug 06, 2024
TemplarLandry:
These guys are loaded.

I dedicate "I Believe" by Asake to them.
Great jam!
These dude and dedication na bread and cheese

Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Wizuman: 2:08pm On Aug 06, 2024
I dey
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Akfrenzy(m): 2:08pm On Aug 06, 2024
grin and they're still breathing 😆😆

But I just comot 500k do something and I haven't been breathing fine since morning
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by MANNABBQGRILLS: 2:08pm On Aug 06, 2024
No be small thing for we Billionaires o,

We sef lose like 9.5....

But God dey sha.

We will RECOVER.


That is business for you.........
shares kinda business.
Re: Jeff Bezos, Mark Zuckerberg And Elon Musk Lose $149 BILLION In One Day by Praxis758: 2:08pm On Aug 06, 2024
They only lost on paper

It’s an academic loss.
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