A grocery tycoon turned Walmart robotics supplier is one of this year's biggest wealth losers after $9 billion wipeout

• A grocery magnate turned robotics leader has had $9 billion wiped off his net worth this year.
• Rick Cohen ranks among the biggest wealth losers after a 41% drop in his personal fortune.
• His net worth has tanked due to an investor backlash against his AI-powered company, Symbotic.

A grocery tycoon turned robotics guru has had $9 billion wiped off his net worth after shares of his AI-powered company crashed, making him one of the world's biggest wealth losers this year.

Rick Cohen, 72, is the owner and executive chairman of C&S Wholesale Grocers, a food distributor founded by his grandfather. He's turned the family business into the eighth most-valuable private company in America with an estimated value of $35 billion, per Forbes.