Jeff Bezos Tumbles On Forbes World's Richest List: 2022's Most Significant Net-Worth Reduction

Amazon.com, Inc AMZN founder Jeff Bezos reportedly experienced rough financial weather last year as his net worth decreased by billions. 

According to the Forbes annual ranking of the world's wealthiest people, Bezos' net worth is down $57 billion from last March. Bezos was the second-richest person in 2022, but this year he is at No. 3 with a net worth of $126 billion. The slide was largely driven by Amazon's stock price dropping 38% in 12 months. 

Amazon announced a fresh round of job cuts in March to streamline the company's costs, impacting about 9,000 workers. The job cut was on top of the previously announced layoffs that began in November 2022. 

In a statement, Amazon CEO Andy Jassy said the decision to lay off more employees took into account the economy and the "uncertainty that exists in the near future."

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The second-biggest loser was Twitter CEO Elon Musk. He lost his title of world's richest person and now sits in second place with a net worth of $191 billion, the Forbes real-time billionaire list shows. His fortune plunged $39 billion year-over-year. 

According to a report, Musk has become the only person in human history to lose $200 billion in net worth. 

His net worth peaked at $340 billion in November 2021. However, Musk saw his wealth drop to $137 billion by the end of 2022, driven by Tesla Inc shares falling about 65% last year.

CEO of luxury goods company LVMH Bernard Arnault has taken the top spot with a net worth of $228 billion, the Forbes billionaire list mentioned. 

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