Amazon founder Jeff Bezos slipped to third place in the Forbes' 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's results left investors disappointed, helping fuel the worst month for technology stocks in years. This placed Bernard Arnault, chairman of French luxury group LVMH, in second place with a personal fortune of $157.7bn, according to Forbes.
In contrast to the Forbes' list, the Bloomberg Billionaires Index named Mr Bezos the world's 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.
Amazon shares were down 14 per cent 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, labour costs as well as changing shopping habits as people return to pre-pandemic activities.
Mr Bezos, 58, is now the third-biggest wealth loser this year, with his fortune dropping nearly $44bn since January 1, Bloomberg reported.
Elon Musk, founder and chief executive of electric vehicle maker Tesla and rocket company SpaceX, is the world's richest person with a net worth of $246bn, the Forbes data showed.
Mr 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.
He 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.
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