The decision to retrench was costly
Amazon founder Jeff Bezos announced the layoffs. Investors shocked Bezos as news of the layoffs broke. Selling dominated Amazon shares. Bezos’s wealth has decreased by $ 67 million i.e. Rs 5,539 crore in one stroke. Amazon shares fell more than one percent. Due to the fall in Amazon’s shares, there was a big decline in the net worth of the company’s founder Jeff Bezos. According to the Bloomberg Billionaires Index, on Thursday it decreased by $ 670 million, or about Rs 5539 crore.
6.7 lakh crore assets decreased in 1 year
Jeff Bezos’s wealth has seen a major decline in the last one year. His net worth declined by Rs 6.7 lakh crore. They have suffered huge losses in one year. Amazon’s market cap decreased to $ 834.06 billion. Due to this decline in net worth, he is continuously slipping in the list of billionaires. Currently his wealth has come down to $108 billion. After this fall, he has reached number six in this list. Adani Group Chairman Gautam Adani overtook him and took the crown of the third richest person in the world. In this list, Bezos has now reached number six, slipping continuously.
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