US: Bezos, Zuckerberg, Brin, Page lose billions after Gov considers antitrust probe
The fortunes of the founders of Google, Facebook, and Amazon tumbled more than US$16 billion dollars combined on Monday after reports surfaced that big tech firms may be the target of several antitrust probes.
Google founders Sergey Brin and Larry Page are US$2.6 billion and US$2.7 billion poorer, respectively. Brin’s net worth is now US$45.6 billion while Page is worth US$48.4 billion, according to Forbes’ Billionaires Real Time Ranking.
Facebook CEO Mark Zuckerberg’s fortune is US$4.8 billion smaller. His net worth is now US$61.2 billion.
Amazon founder and CEO Jeff Bezos was the biggest loser, with his net worth dropping US$6.5 billion. But he’s still the wealthiest person in the world with a net worth that Forbes pegs at US$139.8 billion.
On Monday, June 3, several news outlets reported that the Department of Justice and the Federal Trade Commission decided which agencies have jurisdiction over any possible antitrust cases against Google, Facebook, Amazon, and Apple. After the news broke, shares of each company fell sharply.
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
BHP Unveils £31bn Mining Megamerger Proposal with Anglo American
Apr 25, 2024 by
nhoch@pymnts.com
ByteDance Prefers Shutdown Over Sale of TikTok Amid US Ban Threats
Apr 25, 2024 by
CPI
FCC Votes to Restore Net Neutrality Rules
Apr 25, 2024 by
nhoch@pymnts.com
Apple Rejects Spotify’s Updated App Over In-App Pricing Disclosure
Apr 25, 2024 by
CPI
FCC Set to Reinstate Net Neutrality Rules Today
Apr 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI