Amazon CEO Jeff Bezos, the world’s richest person, just lost a fortune in a single evening. Amazon reported third-quarter earnings Thursday that disappointed investors and sent Amazon stock spiraling down as much as 9% in after hours trading. As of 6pm ET, the stock was down 6.6%, or $118 a share. Jeff owns 57,610,359 shares of Amazon, according to the most recent Securities and Exchange Commission (SEC) filing, that means a loss of nearly $6.9 billion.
If this evening’s losses hold through tomorrow’s market close, Bezos will lose his title as world’s richest person to Microsoft co-founder Bill Gates, according to the Bloomberg Billionaires Index. Prior to Thursday’s Amazon stock price tumble, Bezos’s stock had been valued at around $102 billion, which suggests Bezos’s overall net worth (which stood at $111 billion, according to the Bloomberg Billionaires Index as of Thursday) has fallen by around $6 billion, to $105 billion.
Jeff Bezos has held the title of world’s richest person uncontested since October 2017, when his net worth overtook that of Gates. And when the Bloomberg Billionaires Index is updated at the close of trading in New York on Friday, the Amazon founder may not be the person at the top.