• Ar
  • Es
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Feature
  • Videos
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Feature
Videos
Infographs
In Pictures
  1. Home
  2. News
  3. US & Canada
  4. Bezos' wealth could be halved after Amazon's quarterly report: Reports
US & Canada

Bezos' wealth could be halved after Amazon's quarterly report: Reports

  • By Al Mayadeen English
  • Source: Agencies
  • 28 Oct 2022 16:58

Seattle-based company Amazon's shares dropped close to 21% in extended trading after the company published its holiday quarter report.

  • Amaon CEO Jeff Bezos
    Amaon founder Jeff Bezos

The fortune of Amazon CEO Jeff Bezos could be nearly halved this week from its last year's record high as the forecast of the company's quarterly report triggered a strong drop in the value of its shares, Bloomberg reported on Friday. 
 
On Thursday, Amazon published a financial report that disappointed investors, and the fall in the value of its shares after the close of trading reached 21%. At the same time, in the first nine months of the current year, Amazon received a net loss of $3 billion against a profit of $19.041 billion for last year's same period. According to the results of the third quarter, Amazon's net profit decreased by 9% to $2.872 billion. 
 
If the drop continues at the close of today's trading, Bezos' fortune will automatically fall by $23 billion to $111 billion, according to Bloomberg. This is almost twice less than in July 2021, when his fortune reached $214 billion. 
 
Since this year's beginning, Bezos has lost more than $58 billion, while on Thursday alone, he lost nearly $5 billion, according to the Bloomberg Billionaires Index (BBI).
 
Bezos, Forbes says, was for four years the wealthiest person in the world, but in the April ranking, Elon Musk replaced him. Today, both Forbes Real-Time and BBI say that he is the third richest man after Musk and Louis Vuitton Moët Hennessy owner Bernard Arnault.

  • Jeff Bezos
  • Billionaires
  • Amazon

Trending Now

All
Amazon CEO Andy Jassy (The Guardian)

Amazon extends layoffs till 2023, original target was 10,000 job cuts

Most Read

Ukrainian President Volodymyr Zelensky speaks at a press conference on 25, February, 2022. (AFP)

Kiev unable to launch counteroffensive: Zelensky

  • Europe
  • 25 Mar
Europe's move has only increased Putin’s esteem outside the West -- but estimation of Europe’s political nous and understanding of Russia, however, is sharply diminished.

Lawfare Comes into Fashion: The New Geo-political ‘Rack’

  • Analysis
  • 25 Mar
President Joe Biden listens as German Chancellor Olaf Scholz speaks during a meeting in the Oval Office of the White House in Washington, Friday, March 3, 2023 (AP).

Hersh: Nord Stream explosion decision possibly 'anger' or 'punishment

  • US & Canada
  • 25 Mar
hhh

UAE, KSA, India, South Korea secretly supplying missiles to Ukraine

  • Europe
  • 28 Mar

Read this

All
Syria
MENA

Repeated strikes show coordination between 'Israel', terrorists: Syria

  • 31 Mar
Medvedev
Europe

'NATO peacekeepers' to be targeted if deployed in Ukraine: Medvedev

  • 31 Mar
Romanian Indian
US & Canada

Romanian, Indian families found dead crossing into US from Canada

  • 31 Mar
ds
US & Canada

Lockheed falls behind in GMLRS production to meet new demands

  • 31 Mar
Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS