Wednesday, June 29, 2022
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Amazon shares drop as Jeff Bezos loses $21BN and company faces biggest fall since 2014


The online retail company fell by more than 13 percent after investors reacted to Amazon’s weakest growth in two decades. There has also been a warning the company could suffer a further slowdown.

However, the fall on Friday now means Mr Bezos has lost around $40billion (almost £32billion) in this year alone.

The drop has left him with a fortune of $152billion (almost £121billion).

The Telegraph has revealed Amazon shares have taken a hit since consumers have emerged from the COVID-19 pandemic.

When coronavirus created economic barriers in 2020, Amazon stocks increased by more than 60 percent.

The company’s profitability has also been hit by rising inflation in wages and soaring fuel prices.

Shipping costs have also caused problems for the company.



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