The good news about the Pfizer Corona Vaccine is bad news for the net worth of Jeff Bezos, Amazon CEO and major shareholder. Bezos, who has made big bucks in recent months from the explosive rise in Amazon stocks, saw $ 9 billion evaporate on Monday, according to Bloomberg’s daily roster of the rich.
American online retailer’s price has come under significant pressure due to promising vaccine news. Investors are finding that when a working vaccine hits the market, consumer hunger for online orders subsides. In the past few months, Amazon has benefited enormously from the lockdowns in many countries.
Not that Bezos is sitting in a corner now: at $ 185 billion, he’s still by far the richest man in the world. Much of that is still “trapped” in Amazon stocks, but Bezos sold another $ 3 billion worth of stocks earlier this month.
Mark Zuckerberg, number three on Bloomberg’s rich list, was also hit in the wallet. The CEO and major shareholder of the social media company Facebook suffered a daily loss of $ 5.4 billion and is now worth $ 106 billion.
Stock market guru Warren Buffett, CEO of the Berkshire Hathaway Investment Fund, did business again. After the good results of his investment vehicle, in which he has a great personal interest, his net worth rose by USD 4.2 billion to USD 83 billion, which ranks sixth among the top earners.
Bernard Arnault, the richest European and CEO of the French LVMH, did even better. The price jump of the conglomerate of luxury products, actually benefiting from a vaccine and increased consumer spending, rose personally by $ 7 billion and is currently at $ 104 billion.