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02:09 PM
Sunday 03 May 2020
Books – Mostafa Eid:
American businessman Jeff Bezos, the world’s richest man and founder of Amazon’s e-commerce giant, lost nearly $ 10.5 billion in wealth on Friday, reducing his wealth to $ 139 billion, according to the Bloomberg billionaire list.
The loss fell by Bezos from the beginning of the year to $ 23.7 billion, according to Bloomberg.
This comes after a significant decrease in Amazon Company’s stake by 7.59% during trading on Friday, to close the share price of $ 2,286.04.
The decline in shares came after the company achieved a decrease in earnings during the first quarter of this year, which totaled $ 2.5 billion, or $ 5.01 per share, compared to $ 3.56 billion, or $ 7.09 per share during the same period in 2019.
This decline occurs despite the company’s revenue increase to $ 75.5 billion during the first quarter of this year compared to $ 59.7 billion during the same period in 2019.
The company also hoped that it could achieve operating losses of up to $ 1.5 billion during the second quarter of this year.
Analysts had expected the company to generate more than $ 4 billion in operating profit in the second quarter, but CEO Jeff Bezos expects to spend that amount, or perhaps more.
The company noted that the increase in expenses will come from spending hundreds of millions of dollars to develop testing capabilities for all its employees for the new Corona virus, starting with front-line workers, as well as personal protective equipment for hundreds of thousands. of company employees, concentrated cleaning of its facilities and higher salaries for equipment.
Bezos said in a statement Thursday: “If you are a shareholder in Amazon, you may want to take a seat, because we think a bit.”
Bezos added: “Under normal circumstances, in the next second quarter, we expect an operating profit of $ 4 billion or more. But these are not normal conditions. Instead, we expect to spend $ 4 billion and perhaps a little more on related expenses. with Corona, to deliver Products to customers and keep employees safe
According to Bloomberg List data, Mackenzie Bezos, the lost American businessman, lost about $ 3.66 billion of his fortune during trading on Friday, to $ 45.3 billion, due to a decline in Amazon stock.
And Jeff Bezos gave Mackenzie part of his fortune in a divorce settlement that took place last year, currently ranked 18th among the world’s richest.
