Agencies-Gaza post
Amazon loses $13 billion in hours
Amazon founder Jeff Bezos lost $13 billion of his assets after Amazon DotCom’s outcomes disappointed investors, Bloomberg reported.
Bloomberg stated that shares of the e-commerce giant fell more than 8% at the start of Friday’s trading with the New York Stock Exchange while posting a quarterly loss and the lowest rate of sales growth since 2001.
During the loss, Bezos’ total wealth will fall to about $155 billion, his total wealth at its peak last year was more than $210 billion according to the Bloomberg Billionaires Index.
Bloomberg Billionaires Index reported Bezos is the world’s richest man after Elon Musk, ranked fourth among those who lost fortunes this year.
In a related context, Amazon disclosed losses of $3.8 billion in the first quarter. “The pandemic and its aftermath have caused extraordinary growth and challenges.”
Source: HERE
