Jeff Bezos loses 13,000 million dollars of his fortune after Amazon results

Jeff Bezos saw $13 billion of his fortune ‘vanish’ after Amazon’s quarterly results disappointed investors.

Shares of the e-commerce company fell more than 8 percent in early New York trading on Friday as it reported a quarterly loss and the slowest sales growth since 2001.

If the loss persists, Bezos’s net worth will fall to about $155 billion, according to the Bloomberg Billionaires Index. At its peak in 2021, Bezos’s estate was worth more than $210 billion.

Bezos, the richest person in the world after Elon Muskwas already the fourth-biggest wealth loser among the billionaire group, down $23 billion through Thursday, according to the Billionaires Index. Bloomberg.

Amazon is dealing with higher labor costs after a hiring binge during the pandemic and a spike in inflation that may dampen sales. The company posted a net loss of $3.8 billion in the quarter ended March 31, compared with a profit of $8.1 billion in the same period last year.

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