Amazon CEO Jeff Bezos has lost $6 billion after the online trading giant's financial results have disappointed investors
The net worth of Amazon founder and CEO Jeff Bezos has decreased significantly, he has lost around $6 billion after his quarterly earnings were released, which was much below what investors and Wall Street were expecting, leading to a decline in the share value by 11%.
The loss could also be costing Jeff his position as the world’s 4th richest person. Forbes reported that he is currently ranking fifth, whereas Mexican business tycoon Carlos Slim Melu has taken over his position. Despite of the decline, Jeff continues to remain optimistic about his organization’s performance.
According to Dail Mail, Bezos said, Twenty years ago, I was driving the packages to the post office myself and hoping we might one day afford a forklift. This year, we pass 100 billion dollars in annual sales and serve 300 million customers," After all, Amazon is amongst those many enterprises that Jeff owns.
Business Insider has noted that Amazon Web Services( AWS) has succeeded to a great extent, while subscribers of Amazon Prime have dramatically rose in numbers in 2015. Whereas $6bn isn’t only a minute change that one could easily ignore, the loss has not impaired how much net worth of Jeff has boosted from 2015. In fact, his total value rose by 40%. Simply put, according to the 2015 annual billionaires list released by Forbes he had become the 15th wealthiest person, so being ranked fifth in 2016 is itself a huge jump.
Examiner reported that while Jeff has lost billions, Facebook CEO and founder Mark Zuckerberg has earned $6 billion in just a day, which has helped him become the 6th wealthiest person on the planet. The net worth of Jeff is $55.8 billion while Mark’s net worth is $47 billion. Unlike the disappointing final quarter results of the online retailer.
He has now succeeded in surpassing founder of Oracle Larry Ellision, who has a $44 billion of net worth. With 1.59 billion Facebook users signing each month, it’s not surprising that the advertising sales of social media service provider are over 57% in comparison to the numbers of last year.
Guardian reported that the net income earned by Facebook has increased by more than two times since the previous year. David and Charles Koch, who manage the private company Koch Industries are known for financing candidates of the Republican Party.
Amazon Inc. stock closed at $587 after going red by 7.61% on Friday January 30.
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