New Delhi: Jeff Bezos lost nearly $20.5 billion on Friday after Amazon Inc stock fell 14% after the company reported its quarterly. According to Bloomberg, Amazon reported quarterly losses and the lowest sales growth in more than 20 years. The e-commerce giant posted a loss of $3.8 billion in the March quarter, compared to a profit of $8.1 billion in the same quarter last year. According to the Bloomberg Billionaire Index, Bezos’s net worth has fallen from a record high of more than $210 billion to $148.4 billion.
With a net worth of nearly $44 billion as of January 1, Bezos, the world’s second-richest man, is now the third-biggest money loser this year.
Amazon’s poor quarterly results released on Friday added fuel to one of the worst months in recent days for the technology companies. During the recent downturn in the stock market, the world’s 500 richest people lost about $ 54 billion on Friday.
The S&P 500 index fell 3.6 per cent on Friday, its highest in a day since June 2020. The index dropped the most in a month since the start of the COVID-19 pandemic in early 2020.
In terms of technology, the heavyweight Nasdaq lost 4.5 percent on Friday. In 2022, the index fell more than 13%, the biggest drop since the 2008 financial crisis. A disappointing outlook came as the world’s most valuable company, Apple Inc., declined 3.66 percent as it dominated record quarterly profit and sales.
According to Reuters, the unpredictable stock market will be tested next week as the US Federal Reserve prepares to boost interest rates and tighten monetary policy to combat rising inflation. As the market prepares to enter a typically six-month stock low, concerns about monetary policy have been intensified by the Ukraine-Russia crisis and China’s recent lockup.
live TV
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var currentScroll = $(this).scrollTop();
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$('html head').find('title').text($(this).children().find('.left-block').attr('data-title'));
$('meta[name=description]').attr("content",$(this).children().find('.left-block').attr('data-summary'));
$('meta[name=keywords]').attr("content",$(this).children().find('.left-block').attr('data-keyword'));
$('meta[name=news_keywords]').attr("content",$(this).children().find('.left-block').attr('data-keyword'));
pSUPERFLY.virtualPage(prevLoc,$(this).children().find('.left-block').attr('data-title'));
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//console.log("Keyword: " + $(this).children().find('.left-block').attr('data-keyword'));
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loadshare(prevLoc);
}
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}
});
if(lastHeight + last.height() < $(document).scrollTop() + $(window).height()){
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url = $(next_selector).attr('href');
x=$(next_selector).attr('id');
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//loadDisqus(jQuery(this), disqus_identifier, disqus_url);
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});
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var st = 0;
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