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Even billionaires aren't safe: This year's market slump has wiped $75 billion from the wealth of Jeff Bezos and Mark Zuckerberg [Yahoo! Finance]
Last amazon.com, inc. earnings: 4/30 04:01 pm
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Six out of the 10 top richest people in the world have experienced wealth declines between $30 and $60 billion this calendar year, totalling over $255 billion. Jeff Bezos's net worth is down $30.7 billion since January, whereas Mark Zuckerberg has faced a decline of $46.3 billion in wealth, according to Bloomberg's Billionaire Index . The sharpest drop belongs to Larry Ellison , whose wealth has fallen $59.6 billion to $188 billion—well off his peak of $400 billion last September when he surpassed Elon Musk as the world's richest person For billionaires, the losses are closely tied to the market. Shares of Amazon are down nearly 11% this year, Meta has fallen about 18%, and Oracle is off nearly 30%. Every member of the “Magnificent Seven”—including Alphabet Apple Tesla Microsoft , and Nvidia—is now down double digits from its 52-week high. A mix of forces is driving the downturn, from geopolitical tensions (including conflict with Iran ) to growing skepticism about whether the A
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