USA TODAY: Jeff Bezos just lost $4 billion — on paper

From USA TODAY

Jeff Bezos just lost $4 billion — on paper

SAN FRANCISCO — You might be nursing some losses in your stock portfolio. But at least you didn’t lose $1 billion, right? The company stock fortunes of some of the richest entrepreneurs in America got skinned over the last two weeks, as stocks sank to a two-month low and talk picked up that a correction was in the works. Amazon’s Jeff Bezos lost $4 billion alone, on paper at any rate. Google CEO Larry Page lost $1.4 billion, as did Google co-founder Sergey Brin. Facebook CEO and founder Mark Zuckerberg gave up $772 million. USA Today estimated the value of their holdings based on SEC filings, FactSet ownership data, and their companies’ stock prices from July 24, when the S&P 500 SPY hit a high, to the close of Aug. 7. Stocks recovered some lost ground in Friday’s 1% rally.

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