Jeff Bezos loses $13B in hours as Amazon shares slump
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Tuesday
February 07, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
TUESDAY, FEBRUARY 07, 2023
Jeff Bezos loses $13B in hours as Amazon shares slump

World+Biz

Bloomberg
01 May, 2022, 11:15 am
Last modified: 01 May, 2022, 11:19 am

Related News

  • Google, Apple, Amazon give investors reason to fret
  • One third of Amazon 'degraded' by human activity, drought: study
  • Jeff Bezos to sell Washington Post to buy NFL team Commanders
  • Brazil begins first operations to protect Amazon
  • Brazilian Amazon deforestation up 150% in Bolsonaro's last month

Jeff Bezos loses $13B in hours as Amazon shares slump

He is now the third-biggest wealth loser this year

Bloomberg
01 May, 2022, 11:15 am
Last modified: 01 May, 2022, 11:19 am
Jeff Bezos speaks at an event before unveiling Blue Origin's Blue Moon lunar lander, in Washington. On Monday, July 12, 2021, the Federal Aviation Administration approved Blue Origin's attempt to launch people into space. Photo :AP via UNB
Jeff Bezos speaks at an event before unveiling Blue Origin's Blue Moon lunar lander, in Washington. On Monday, July 12, 2021, the Federal Aviation Administration approved Blue Origin's attempt to launch people into space. Photo :AP via UNB

ff Bezos saw $20.5 billion of his fortune melt away after Amazon.com Inc.'s results left investors disappointed, helping fuel the worst month for technology stocks in years.

Shares of the e-commerce company were down 14% on Friday after it reported a quarterly loss and the slowest sales growth since 2001. Bezos's net worth fell to $148.4 billion, according to the Bloomberg Billionaires Index, from a peak this year of more than $210 billion.

The world's 500 richest people lost a total of more than $54 billion Friday amid the broader market rout, according to the Bloomberg index. The benchmark S&P 500 Index fell 3.6% and the tech-heavy Nasdaq 100 Index slid 4.5%, closing out its worst month since 2008.

Bezos, 58, the world's richest person after Elon Musk, is now the third-biggest wealth loser this year, with his fortune dropping nearly $44 billion since Jan. 1.

Amazon is contending with higher labor costs following a hiring binge during the pandemic and a surge in inflation that may hold back sales. 

The company posted a net loss of $3.8 billion in the quarter ended March 31, compared with profit of $8.1 billion in the same period last year.

Top News

Jeff Bezos / Amazon

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Infographic: TBS
    FDI from US halves after sanctions
  • A woman speaks to a member of the military as they stand near rubble and damages following an earthquake in Gaziantep, Turkey, February 7, 2023. REUTERS/Suhaib Salem
    Rescue workers 'exhausted' as earthquake deaths cross 5,000 in Turkey, Syria
  • Photo: Reuters
    Watch: Ronaldo greets Bangladesh, says 'Salam Alaikum'

MOST VIEWED

  • Quake halts UN cross-border aid to Syria, unclear when will resume
    Quake halts UN cross-border aid to Syria, unclear when will resume
  • Workers and security forces process aid from Red Crescent that will be shipped on a plane of emergency relief to Syria to support victims of the deadly earthquake, at a military airbase near Baghdad International Airport in Baghdad, Iraq, February 6, 2023. REUTERS/Ahmed Saad
    Syria's Red Crescent ready to deliver aid to opposition-held areas
  • A woman sits amidst rubble and damages following an earthquake in Gaziantep, Turkey, February 7, 2023. REUTERS/Suhaib Salem
    German-Turkish community races to send money and blankets to quake victims
  • Photo: Collected
    Devastating earthquake in Turkey wrecks 2000-yr-old Unesco World Heritage site
  • People stand in front of collapsed buildings following an earthquake in Kahramanmaras, Turkey, 3 February, 2023. Photo: Reuters
    Unicef says Turkey-Syria earthquake may have killed thousands of children
  • A man standing amid rubble looks at the damage following an earthquake in Hatay, Turkey, February 7, 2023. REUTERS/Umit Bektas
    Turkey, Syria quake could affect up to 23 mn: WHO

Related News

  • Google, Apple, Amazon give investors reason to fret
  • One third of Amazon 'degraded' by human activity, drought: study
  • Jeff Bezos to sell Washington Post to buy NFL team Commanders
  • Brazil begins first operations to protect Amazon
  • Brazilian Amazon deforestation up 150% in Bolsonaro's last month

Features

Nimah designed by Compass Architects- Wooden tiles. Photo: Junaid Hasan Pranto

Trendy flooring designs to upgrade any space

7h | Habitat
Benefits of having high ceilings in your new home

Benefits of having high ceilings in your new home

7h | Habitat
Each Reverse Osmosi plant can produce approximately 8,000 litres of drinking water a day for around 250 families. Photo: Sadiqur Rahman

A drop in the ocean of persistent water crisis

8h | Panorama
Photo: Collected

Get your partner a lovely present this Valentine's Day

1d | Brands

More Videos from TBS

Challenging time waiting for RMG

Challenging time waiting for RMG

6h | TBS Round Table
"Full Moon Meditation" organized by Department of Theater and Performance Studies, University of Dhaka

"Full Moon Meditation" organized by Department of Theater and Performance Studies, University of Dhaka

6h | TBS Graduates
10 cricketers who have played over 400 T20 matches

10 cricketers who have played over 400 T20 matches

6h | TBS SPORTS
Harry Kane sets two record in one goal

Harry Kane sets two record in one goal

6h | TBS SPORTS

Most Read

1
Photo: Courtesy
Panorama

From 'Made in Bangladesh' to 'Designed in Bangladesh'

2
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

3
Master plan for futuristic Chattogram city in the making
Districts

Master plan for futuristic Chattogram city in the making

4
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
Economy

IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms

5
Belal Ahmed new acting chairman of SIBL
Banking

Belal Ahmed new acting chairman of SIBL

6
Photo: Collected
Crime

Prime Distribution MD Mamun arrested in fraud case

EMAIL US
contact@tbsnews.net
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net