World's richest lose $134 billion in stock slump, led by Amazon's Bezos

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World's richest lose $134 billion in stock slump, led by Amazon's Bezos - Business Standard

Quick Summary:

Bezos, 60, the world’s second-richest person, has been steadily offloading Amazon shares this year.

He would still hold almost 912 million shares, or about 8.8 per cent of Amazon, once those sales are complete.

Uncertainty over possible Federal Reserve rate cuts, as well as some high-profile earnings disappointments, have helped plunge the tech-heavy index into correction territory, wiping out more than $2 trillion in value in just over three weeks.