Food-delivery billionaires see fortunes swoon as pandemic ebbs

A file photo of DoorDash founders (l-r) Andy Fang, Stanley Tang, Tony Xu and colleague Evan Moore in their office, Aug 21, 2013, in Palo Alto, California. Fang and Tang are no longer billionaires, and Xu’s net worth has fallen to US$1.1bil (RM4.83bil), according to the Bloomberg Billionaires Index. — Bay Area News Group/TNS

Early in the pandemic, as locked-down diners turned to ordering online, a new type of billionaire emerged: the food-delivery magnate.

The three co-founders of San Francisco-based DoorDash Inc each amassed fortunes of US$2.5bil (RM10.98bil) or more. Jitse Groen, who started European rival Just Eat Takeaway.com, racked up a US$1.5bil (RM6.59bil) fortune.