BUSINESS
10/28/2016 08:42 am ET

Jeff Bezos Lost $3 Billion In One Hour. How Was Your Day?

Not pocket change.
Jeff Bezos' net worth took a hit, but he's suffered sudden big losses before.
Brendan McDermid / Reuters
Jeff Bezos' net worth took a hit, but he's suffered sudden big losses before.

That had to smart a little.

Amazon CEO Jeff Bezos lost $3.2 billion in one hour Thursday after his company announced tepid third-quarter earnings, Forbes reported.

At 52 cents per share, Amazon’s net income fell far short of analysts’ prediction of 78 cents per share, Forbes notes. The company’s stock price tumbled 6 percent initially, denting Bezos’ fortune.

By 4:45 p.m. the stock had shrunk from $818 per share to $782.10 ― a plummet of about 4.3 percent.

Bezos may not have been breathing any easier Friday morning before the bell. As of 8:42 a.m., the price was at $773.88, according to MarketWatch.

But the internet commerce magnate has been here before ― and then some. He lost $6 billion overnight in January after another earnings report.

And let’s keep this all in perspective: Forbes named Bezos one of the five richest people in the world this year, listing him at second place just a couple of weeks ago with a net worth of $67 billion.

We imagine there’s no need for austerity in the Bezos household.

HuffPost

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