Jeff Bezos’ fortune could melt by more than $ 15 billion in today’s trading, after Amazon.com’s financial results disappointed investors and caused a solid 10% drop in shares of the leading e-commerce company at the opening of Wall Street.
Shares of the company fell sharply after it announced late last night that it had made a loss in the first quarter, while at the same time marked the weakest increase in its sales since 2001, BNR reported.
If this initial price decline continues, the net worth of Bezos’ wealth could fall to about $ 155 billion, according to the Bloomberg Billionaires Index. Last year, Jezh Bezos’ fortune peaked at 210 billion. dollars.
Even before Amazon’s share fell today, Jeff Bezos, the world’s richest man since Elon Musk, was already the fourth biggest loser this year, shrinking by $ 23 billion at the end of yesterday’s trade. , according to the Bloomberg Billionaires Index.
His company, Amazon, is struggling with higher labor costs after overstaffing during the pandemic and a surge in inflation that could limit sales.
On Thursday night, the company reported a net loss of $ 3.84 billion in the first quarter (a loss of $ 7.56 per share) compared to a profit of $ 8.1 billion in the same period last year.
Amazon’s revenue (sales) rose just 7.3% to $ 116.44 billion, slightly above market expectations.
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