Jeff Bezos ducks tech doldrums as Larry Ellison’s wealth falls $4.5 billion
New York: Jeff Bezos, the world’s richest person, added $3.3 billion to his net worth on Tuesday even as the fortunes of fellow technology tycoons took a tumble. The founders of Facebook Inc., Alphabet Inc. and Oracle Corp. lost a combined $6.7 billion.
Oracle chairman Larry Ellison led the way, dropping $4.5 billion, with shares of the software giant tumbling 9.4% as it forecast slowing sales growth for cloud-related products. Facebook co-founder Mark Zuckerberg’s wealth slid $1.8 billion, bringing his two-day decline to $6.7 billion as the world’s biggest social network continued to grapple with fallout from a data leak. Alphabet’s Larry Page and Sergey Brin lost about $100 million each on Tuesday.
Bezos, the Amazon.com Inc. founder, has added $32.8 billion to his net worth since the start of the year, according to the Bloomberg Billionaires Index. That’s more than the individual market capitalizations of 63% of companies in the S&P 500 Index. Bloomberg