Jeff Bezos Wealth, Amazon Value Crashes Amid Space Travel

Tuesday, July 20, 2021 at 12:15 PM by Khadijah Thabit

Over N492.93 billion was wiped off the fortune of Jeff Bezos on Monday, July 19, who is the richest person on planet earth
The Amazon founder's wealth dwindled as he prepares to be the second billionaire to visit space after Virgin Galactic boss, Richard Branson
The ecommerce businessman is going to space with his brother, Mark Bezos, and would also take Oliver Daemen, who will become youngest person to visit

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Jeff Bezos fortune has dwindled significantly a day to his journey to space. The Amazon founder is planning to leave earth as the second billionaire to do so.

Bezos lost N492.93 billion from his wealth which dropped by 0.60% after Amazon market valuation crashed by 0.67% on Monday, July 19, 2021, losing $24.04 on its share price, according to Forbes.

What you need to know about Bezos' quest

The decline in Bezos fortune came at a time his spacecraft company, Blue Origin, is aiming to launch its first humans to space, with Bezos' brother, Mark, Oliver Daemen, and Wally Funk named as passengers.

Flying on New Shepherd, which is the spacecraft owned by Blue Origin, cost Daemen, who will be the youngest person on space, $28 million for a seat.

But this historic moment set for today wasn't strong enough to encourage investors to invest more money in Amazon, from which Bezos sold $1 billion shares yearly, since 2017, to fund Blue Origin.

Bezos donates N82.3 billion to fund innovations

Despite being busy with space travel plans, the billionaire continued his philanthropy work after donating N82.3 billion to Smithsonian.