Amazon, Apple, Facebook, and Google are getting hammered as investors sell their shares and retreat to safer land.
Founders, CEOs and top investors in these companies are losing money quickly.
Amazon Chief Executive Jeff Bezos has lost about $ 42 billion of its net worth and peaked at $ 168 billion in early September, according to the Bloomberg Billionaires Index. Amazon's stock (AMZN) has fallen from 25% since then, and is currently trading at around $ 1,500 a share, leaving Bezos with a $ 126 billion dollar.
Not all good news about him: Bezos is still the richest man in the world.
On Tuesday, Bezos and his wife, MacKenzie, provided $ 100 million in two non-profit funds to end homelessness in America. It is part of the couple's promise to donate $ 2 billion to fund existing nonprofit organizations that help families of homeless people and create a network of preschools in low-income communities.
The wealth of Facebook CEO Mark Zuckerberg also gets beaten. It lost about $ 34 billion of its top value at the end of July and now it is worth $ 52 billion. He is ranked as the seventh richest man in the world.
Facebook has been shocked this year with a number of problems, such as the spread of hate speech on its platform, Russian political interventions and the Cambridge Analytica private scandal.
The Facebook stock (FB) has lost 40% of its value since July and is currently trading at around $ 130 a share. The company continues to struggle with executive departures and damaging reports.
Like Bezos, Zuckerberg and his wife, Priscilla Chan, have committed 99% of their wealth to their organization for charity. Recently, $ 214 million has been offered to another nonprofit organization.
Microsoft founder Bill Gates, who still owns 1% of the company's technology, has lost $ 5 billion from its high in early October. It is still worth about $ 95 billion and ranked as the second richest man in the world, according to Bloomberg.
Well-known investor Warren Buffett – who is considered to be the largest shareholder of Berkshire Hathaway – is still the third richest man in the world. It lost only about $ 4 billion as its wealth reached the highest point of $ 93.4 billion in early February. Berkshire Hathaway is the largest shareholder in Apple, which has fallen 23% from its high all-time high. Apple has been hurt by reports that it is cut orders for iPhone XR, iPhone XS and iPhone XS Max.
Google executed Larry Page and Sergey Brin lost a total of $ 20 billion from their top wealth in July. Its stock (GOOG) lost 20% of its value since July, and Monday closed to a bear market for the first time since 2011.