Jeff Bezos lost $20 billion this week as markets took their sharpest dive since the start of the pandemic
. The drop came as the Federal Reserve adjusted interest rates. Bloomberg reports that tech billionaires bore the brunt as cryptocurrency prices, online gaming, and e-commerce took a hit.
Mark Zuckerberg lost over $10 billion, Changpeng Zhao of Binance lost nearly $18 billion, and Elon Musk lost nearly 10 percent of his net worth. The financial tumble leaves Bezos vulnerable to losing his spot as the second-richest person in the world to French fashion magnate Bernard Arnault, who was one of few tycoons to escape the week financially unscathed.
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