Symbotic Founder Loses $9 Billion As Stock Plunges

Rick Cohen, the founder of AI-powered warehouse robotics company Symbotic, has seen his net worth drop significantly due to a sharp decline in the company’s stock price. This decline is attributed to construction delays, increased implementation costs, and a class-action lawsuit alleging misleading growth claims. Cohen’s net worth has fallen 41% this year, dropping him from the 94th to the 178th spot on the Bloomberg Billionaires Index.

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