Jeff Bezos, Amazon founder loses $20

On Friday, Jeff Bezos lost about $20.5 billion as Amazon Inc’s shares fell 14% according to the company’s earnings report. Amazon reported a quarterly deficit and its lowest sales growth in more than 20 years, according to Bloomberg.

The e-commerce behemoth lost $3.8 billion in the March quarter, compared to a profit of $8.1 billion in the previous year’s equivalent quarter. Bezos’ net worth has decreased to $148.4 billion from a previous value of more than $210 billion according to the Bloomberg Billionaire Index.

Jeff Bezos

Since January 1, Amazon’s assets have decreased by approximately $44 billion, putting Jeff Bezos in the top three wealth losers this year. The poor quarterly results released by Amazon on Friday only served to add to the already difficult month that technology companies have been having. 

On Friday, the world’s 500 richest people collectively lost $54 billion in the stock market meltdown.

Also read – Neil Parish, UK lawmaker gives resignation

About the author

Add Comment

Click here to post a comment