Why aren’t billionaires like Jeff Bezos losing $ 8 billion in two sessions?

Tram Ho

Between the time the market closed Friday afternoon (July 10) and until 13:00 on Tuesday (July 14), the total assets of billionaire Jeff Bezos evaporated $ 8 billion. That’s a big number, compared to the total value of the two New England Patriots ($ 4.1 billion) and the New York Giants baseball team ($ 3.9 billion) combined. But for Jeff Bezos, who owns $ 181 billion in assets, the loss of $ 8 billion is just a “normal thing” in business and it only makes his fortune 4.4%. never mind.

Starting March 18, Forbes magazine “closed” the list of the world’s richest billionaires in 2020, based on their total net worth and shortly after US President Donald Trump declared his love. a national emergency due to the Covid-19 epidemic, Amazon’s share price has risen nearly 69%.

The fact that consumers in the United States and around the world have chosen Amazon to shop online while at home avoiding the epidemic has helped the market value of the online retail giant reach a record of US $ 1,500 billion and at the same time. plus $ 68 billion in Jeff Bezos’ total assets. Even if this number has lost a little in the first 2 days of the week, investors did not feel worried. Most see it as just a “pen stroke” to rebalance their portfolios, or the downtrend is often seen after a stock has a strong break through.

Vì sao với những tỷ phú như Jeff Bezos, mất 8 tỷ USD trong 2 phiên giao dịch không phải là chuyện đáng quan tâm? - Ảnh 1.

Billionaire Jeff Bezos. Photo: Reuters

Jeff Bezos is not the only billionaire who got rich thanks to the pandemic. Elon Musk, CEO of Tesla and SpaceX, went from 31st position on the list of the richest people in the world in mid-March to 9th place after the trading session on July 14. The net worth of the billionaire has nearly tripled in the past four months, from $ 24.6 billion to $ 69.1 billion, largely based on Tesla’s 320% increase. This is also the first time Elon Musk is on the list of the 10 richest people in the world.

In an interview with Forbes in early July, Elon Musk said “really didn’t care much” about his fortune. “Those numbers go up and down, but what’s really important is creating great products that people love.”

Another name that has received a lot of attention over the past few months is Mukesh Ambani, an Indian businessman and president of Reliance Industries, which owns telecommunications company Reliance Jio. Since early 2020, Reliance Jio has received billions of dollars of investment from a series of “big”, including $ 5.7 billion from Facebook in April and $ 1.2 billion from the national investment fund of UAE Mubadala in June.

Most recently, on July 15, tech giant Google confirmed it would pour $ 4.5 billion into Jio. This information caused Reliance’s stock price to rebound sharply. Ambani is currently the 7th richest person in the world, with a total net worth of US $ 71.4 billion, nearly doubling from March. Last time Mukesh Ambani was listed as the 10 richest billionaires in the world gender is 2011, with a total asset value of 27 billion USD.

Of course, some people will go up, some people will have to go down and in fact many people go down.

By the end of January 2020, the net worth of business magnate Bernard Arnault was $ 108 billion. That figure quickly dropped to $ 76 billion in mid-March, when the pandemic caused consumers to tighten purchases of luxury goods. His current total assets of 111.1 billion US dollars is, No. 3 in the list of 10 richest people in the world by Forbes.

Although the total value of the assets since March has only decreased by $ 3.5 billion, this number is enough to make Warren Buffett, one of the most successful investors of all time, down 4 places in the rankings. and ranks as the 8th richest person in the world. This is the lowest position that Warren Buffett holds on the list of the richest people in the world for 20 years.

The family behind Walmart, with the names Jim Walton, Alice Walton and Rob Walton also could not hold their position and dropped from the list of the 10 richest people in the world, despite their total assets increased. 3 billion USD after the trading session on July 14.

The market is always volatile. The only certainty during the current period of uncertainty is that billions of dollars can be earned – lost – and regained in a matter of hours.

Share the news now

Source : Genk