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Tech billionaires are watching their wealth free-fall amid an AI-driven slump—Larry Ellison and Jeff Bezos have lost more than $66 billion this year By Emma Burleigh Reporter, Success By E...
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When it comes to the world's richest billionaires, tech founders litter the top of the list. AI has been heralded as a multi-trillion-dollar industry, catapulting many founders to extreme wealth ; but now AI bubble fears and doubts over valuations have led to billions erased from CEOs' net worths overnight. For Larry Ellison , whose net worth has been hardest hit, that looks like a $59.2 billion loss since the year started—and we're only in February. Recommended Video After months of eyebrow-raising over software stocks and AI's impact on the sector, a selloff on Tuesday triggered billions to be wiped from the wealthiest's net worths. In the few days since then, Ellison has watched his wealth slide by $19 billion, according to current data from the Bloomberg Billionaires Index Amazon founder Jeff Bezos' fortune has also dropped $14 billion since Tuesday, contributing to his $6.82 billion loss for the year so far. The Tuesday sell-off, turbocharged by Anthropic's new legal AI
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- AMZN's free cash flow will go negative, GOOGL will not – analyst [Seeking Alpha][Seeking Alpha]
- Wall Street Roundup: Risk Off [Seeking Alpha][Seeking Alpha]
- Amazon.com (NASDAQ:AMZN) had its price target raised by analysts at Wells Fargo & Company from $301.00 to $305.00. They now have an "overweight" rating on the stock.[MarketBeat]
- Stock market today: Dow soars 1,000 points, leading S&P 500, Nasdaq higher as Wall Street rebounds from AI tech rout [Yahoo! Finance Canada][Yahoo! Finance Canada]
- Amazon.com (NASDAQ:AMZN) had its "buy" rating reaffirmed by analysts at Argus. They now have a $325.00 price target on the stock.[MarketBeat]
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