Tech's billionaires just lost a fortune

Stocks are tanking, and the tech world's richest executives are losing billions.Amaz...

Posted: Nov 21, 2018 9:19 AM
Updated: Nov 21, 2018 9:19 AM

Stocks are tanking, and the tech world's richest executives are losing billions.

Amazon, Apple, Facebook and Google are getting hammered as investors sell their shares and retreat into safer territory.

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The founders, CEOs and top investors in those companies are losing money quickly.

Amazon CEO Jeff Bezos has lost roughly $42 billion since his net worth and peaked in early September at $168 billion, according to the Bloomberg Billionaires Index. Amazon's stock (AMZN) has dropped more than 25% since then and is currently trading around $1,500 a share, leaving Bezos with a $126 billion nest egg.

It's not all bad news for him: Bezos is still the world's richest person.

On Tuesday, Bezos and wife MacKenzie donated $100 million to two non profits that aim to end homelessness in America. It's part of the pair's pledge to donate $2 billion to fund existing nonprofits that help homeless families and to create a network of preschools in low-income communities.

Facebook CEO Mark Zuckerberg's wealth is also taking a beating. He's lost roughly $34 billion from his peak worth in late July and is now worth $52 billion. He ranks as the seventh richest person in the world.

Facebook has been rocked this year with a cascading series of problems, including a proliferation of hate speech on its platform, Russian political interference and the Cambridge Analytica data privacy scandal.

Facebook's (FB) stock has lost 40% of its value since July and is currently trading around $130 a share. The company continues to struggle with executive departures and damaging exposés.

Like Bezos, Zuckerberg and his wife, Priscilla Chan, have pledged 99% of their wealth to their organization for philanthropic needs. They also recently donated $214 million to another nonprofit.

Microsoft founder Bill Gates, who still owns 1% of the tech company, has lost $5 billion from his high in early October. He's still worth roughly $95 billion and ranks as the second richest person the world, according to Bloomberg.

Famed investor Warren Buffett — who counts as the largest shareholder of his company Berkshire Hathaway — is still the world's third richest person. He's only lost about $4 billion since his wealth hit a peak of $93.4 billion in early February. Berkshire Hathaway is the largest holder of Apple stock, which has declined by 23% from its all time high. Apple has been hurt by reports that it cut orders for its iPhone XR, iPhone XS and iPhone XS Max.

Google execs Larry Page and Sergey Brin have lost a combined $20 billion from their peak wealth in July. Its stock (GOOG) has shed 20% of its value since July, and on Monday it closed in a bear market for the first time since 2011.

Mississippi Coronavirus Cases

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Reported Deaths: 5713
CountyCasesDeaths
DeSoto17561191
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Harrison14050202
Rankin11102217
Jackson10729188
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Madison8495168
Jones6607114
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Stone149525
Clarke144762
Calhoun139922
Smith127725
Yalobusha121134
Walthall114037
Greene112929
Noxubee112225
Montgomery111236
Carroll106422
Lawrence105617
Perry104031
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Jefferson Davis87727
Benton84823
Humphreys84224
Kemper80020
Quitman7049
Franklin69617
Choctaw62513
Wilkinson59625
Jefferson56520
Sharkey44817
Issaquena1606
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Alabama Coronavirus Cases

Cases: 436087

Reported Deaths: 6486
CountyCasesDeaths
Jefferson63969994
Mobile31211565
Madison27851208
Tuscaloosa21233271
Montgomery19698326
Shelby19093130
Baldwin16981188
Lee13036105
Morgan12526134
Etowah11987179
Calhoun11441206
Marshall10357123
Houston8886158
Limestone827876
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Elmore8120104
DeKalb7828103
Lauderdale7798103
St. Clair7763125
Talladega6394111
Walker6002177
Jackson594644
Colbert545276
Blount543986
Autauga532761
Coffee456762
Dale406883
Franklin372448
Russell349212
Chilton342873
Covington336068
Escambia330144
Dallas312096
Tallapoosa3120107
Chambers301170
Clarke293336
Pike261131
Marion251558
Lawrence250752
Winston232742
Bibb221248
Geneva208746
Marengo206529
Pickens199031
Hale182742
Barbour179337
Fayette177029
Butler172459
Cherokee164330
Henry158224
Monroe151320
Randolph144336
Washington140127
Clay129146
Crenshaw122944
Macon120937
Cleburne120724
Lamar119721
Lowndes113736
Wilcox106622
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Perry99118
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Sumter90026
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