JEFF BEZOS: No Longer a $100 Billionaire
Written by KingCnote on October 25, 2019
Shed a tiny tear this morning for the world’s wealthiest person: Jeff Bezos.
Overnight, his fortune directly tied to Amazon stock plummeted. He’s no longer a $100 billionaire. His wealth is “only” $98 billion.
On Thursday, stock traders retreated from Amazon even though they announced sales for the past three months of $70 billion. However, their shipping costs in the time “ballooned to $10 billion.”
Despite rising profits at Amazon — Nearly $1 billion monthly –, the company did not achieve Wall Street expectations based on earnings per share of stock. Overnight, traders dumped the stock and it’s selling at 7 per cent less. (Variety)