Jeff Bezos loses N492.9bn hours before space expedition

Blue Origin founder, Jeff Bezos, lost a whopping N492.93 billion ($1.2 billion) from his wealth on Monday, just 24 hours before he began his space expedition.

Several campaigners have kicked against Bezos’ return to the planet from the space trip.

The loss was caused by a slump in the market valuation of his e-commerce firm, Amazon.

Amazon’s stock value had depreciated by 0.67 percent after trading hours on the New York Stock Exchange a day before he left earth for space.

The crash in Amazon’s stock value impacted the billionaire’s wealth which dropped by 0.60 percent following the $1.2 billion loss in revenue.

READ ALSO: I55,325 sign petition against Amazon founder, Bezos return from space

Bezos’ net worth stood at $203.7 billion as of Monday.

Amazon’s share price had slipped by $24.04 to close at $3,549.59 from $3,573.63 reported last Friday.

After Bezos was successfully lifted up to space by New Shepherd, the spacecraft owned by Blue Origin, the billionaire’s net worth increased by 0.35 percent after Tuesday’s trading.

Consequently, his net worth increased to $204.5 billion from the $203.7 billion reported on Monday.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now