Bezos Loses $7.4 Billion of Net Worth in 2014

Bezos

Amazon CEO and owner of The Washington Post, Jeff Bezos, has reportedly lost $7.4 billion of his net worth in 2014, according to Ben Miller of the Puget Sound Business Journal.

The loss is the company’s worst since 2008, however, Bezos remains on Bloomberg’s list of the top 20 billionaires with an estimated net worth of $28.6 billion.

The Wall Street Journal wrote of Amazon’s 22% loss in value: “Shareholders punished Amazon for its free spending on projects such as the Fire smartphone and other gadgets and a widening network of warehouses close to urban centers. The company has admitted it botched the phone’s rollout, mainly blaming its price for slow sales.”