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Jeff Bezos, the billionaire founder of Amazon, experienced a significant decline in his net worth, which fell by $15.2 billion, leaving him with $191.5 billion, according to the Bloomberg Billionaire Index.

This dramatic drop reflects broader turbulence in the tech sector.

The Nasdaq 100 Index experienced a 2.4% decline, which adversely affected the net worth of several tech billionaires. Elon Musk's fortune decreased by $6.6 billion, while Larry Ellison of Oracle Corp. saw a reduction of $4.4 billion.

Technology billionaires Larry Page, Sergey Brin, and Mark Zuckerberg each lost more than $3 billion when shares of Meta Platforms Inc. and Alphabet crashed in the New York trade. The combined drop in their fortunes amounted to $68 billion, according to Bloomberg's wealth index.

Investors are worried that this year's big profits from AI might be too high or that the market is too focused on just a few companies. Amazon's stock saw its biggest drop since April 2022 after the company revealed it plans to keep spending a lot on AI, even if it means making less money in the short term.

At 60 years old, Bezos has been actively selling Amazon shares throughout the year, including $8.5 billion worth in February and an additional planned sale of 25 million shares worth $5 billion last month when Amazon reached a new record high.