The stock market plunged into the crapper today, with the Dow Jones Industrial Average dropping more than 800 points.
Who were the big “losers”? Try this on for size: Amazon CEO Jeff Bezos dropped a cool $9.1 billion from his portfolio today.
Is the dude going broke? Uh, no. He’s still got about $145 billion, although admittedly it’s not a cash amount laying around the house or in his back yard.
This kind of reminds me of how ridiculous it has become to try to measure the wealth of the world’s richest individuals.
“A billion here and billion there and soon we’re talking about real money.” So said the late, great Republican U.S. Sen. Everett Dirksen in the old days when a billion bucks really mattered.
Aristotle Onassis, the late Greek shipping tycoon — and the husband of former first lady Jacqueline Kennedy — died in 1975 as the world’s second-richest human being. His net worth at the time of his death? About $500 million.
These days, when we’re talking about individuals’ worth running into the tens of billions, Ol’ Ari’s estate looks downright pauper-ish.