Business mogul and billionaire Jeff Bezos lost his title as “the richest person on the planet” when his net worth fell by more than $ 13.9 billion (200 billion rand) in one day.
Unfortunately for Bezos, Amazon’s AMZN stock price was hit last week when the company’s second-quarter growth was down 7%.
Bezos is no longer the richest person
Competing for the title, Bernard Arnault, whose luxury goods conglomerate LVMH fell 1.4% last week, which means a loss of $ 2.9 billion (Rand 42 billion). Despite this, the French tycoon is now the richest person in the world.
While Arnault’s business interests – Louis Vuitton, Sephora, Moët & Chandon, and Tiffany & Co. – have increased his wealth by more than $ 100 billion in 2021, LVMH has leveled off in the past two months.
As of Monday, Bezos had a net worth of $ 192.6 billion, while Arnault’s net worth stood at $ 195.8 billion. In the battle of billionaires, $ 3.2 billion can break a person, apparently …
Amazon’s decline also saw his ex-wife MacKenzie Scott’s net worth plummet by $ 4.6 billion on Friday. Her net worth is now estimated at $ 56 billion, making her the 22nd richest person in the world.
The billionaires against the rest of us
In a world torn by poverty and glaring inequality, 86% of the world’s 2,755 billionaires boasted of a combined $ 5,000 billion increase in wealth in 2020.
At the same time, the median net worth of the average American family is around $ 121,700 (R 1.7 million), while the disposable income of households in South Africa was R 34,037, according to Statistics SA reports published in January 2021.
As of April 2021, South Africa had five “dollar” billionaires, all of whom saw their wealth increase in the first year of the pandemic.
SA’s dollar billionaires are Nicky Oppenheimer ($ 8 billion), Johann Rupert ($ 7.6 billion), Patrice Motsepe and Koos Bekker (both with over $ 3 billion) and Michiel Le Roux (1, $ 2 billion).
Bezos goes to space
Bezos also temporarily relinquished his title as the richest person in the world for 11 minutes on July 20, 2021 when the billionaire and three other passengers flew into space aboard Blue Origin’s New Shepard rocket.
Bezos was joined by his brother Mark, director of the Bezos Family Foundation, as well as Oliver Daemen, 18, and aviator Wally Funk, 82, who became the youngest and oldest of the astronauts, respectively. .
His space company Blue Origin also set a new record on July 20: in the altitude at which the New Shepard craft climbed, compared to Richard Branson and Virgin Galactic’s Spaceplane VSS Unity.
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