The family behind gap has lost $1 billion this year as stock has plummeted

by MR Magazine Staff

Gap’s unraveling stock price is taking a toll on the wealth of the billionaire clan behind the company. Doris Fisher, who started the retailer in 1969 with her now-deceased husband, and her three sons—John, Bob and Bill Fisher—have seen their fortunes drop by a cumulative $1 billion this year. Today, the family is worth an estimated $7.3 billion, down from $8.3 billion at the beginning of the year. Their net worth has been driven lower by a cratering stock price—with the value of their Gap stock declining to $2.3 billion, from $4 billion—which has been partially offset by outside investments. Read more at Forbes.