/ 7 April 2001

IT HIGH-FLYERS SEE WEALTH PLUNGE

IF you’re disappointed with your investment in tech stocks, here’s something that might give you a little comfort – most tech company chief executives have seen huge declines in their personal wealth. Microsoft’s Bill Gates, No1 on the Forbes magazine list of the 400 wealthiest Americans in 2000, lost about $39bn over the last year – twice Ecuador’s Gross Domestic Product. Microsoft Chief Executive Officer Steven Ballmer lost about $12bn, more than Kenya’s annual GDP. Amazon.com CE Jeffrey Bezos had the biggest percentage loss: his 117 million shares dropped 84% in value to a mere $1.2bn. – Reuters