Bezos Ducks Tech Doldrums as Ellison's Wealth Falls $4.5 Billion

(Bloomberg) -- Jeff Bezos, the world’s richest person, added $3.3 billion to his net worth on Tuesday even as the fortunes of fellow technology tycoons took a tumble. The founders of Facebook Inc., Alphabet Inc. and Oracle Corp. lost a combined $6.7 billion.

Oracle Chairman Larry Ellison led the way, dropping $4.5 billion, with shares of the software giant tumbling 9.4 percent as it forecast slowing sales growth for cloud-related products. Facebook co-founder Mark Zuckerberg’s wealth slid $1.8 billion, bringing his two-day decline to $6.7 billion as the world’s biggest social network continued to grapple with fallout from a data leak. Alphabet’s Larry Page and Sergey Brin lost about $100 million each on Tuesday.

Bezos, the Amazon.com Inc. founder, has added $32.8 billion to his net worth since the start of the year, according to the Bloomberg Billionaires Index. That’s more than the individual market capitalizations of 63 percent of companies in the S&P 500 Index.

To contact the reporter on this story: Tom Metcalf in New York at tmetcalf7@bloomberg.net.

To contact the editors responsible for this story: Pierre Paulden at ppaulden@bloomberg.net, Peter Eichenbaum, Dan Reichl

©2018 Bloomberg L.P.