London Mail
  • Home
  • World
  • News
  • Opinion
  • Business
  • Tech
  • Science
  • Sports
  • Lifestyle
  • Health
  • Motering/Cars
  • More
    • Entertainment
    • Travel
    • Crypto
    • Food
    • Home Improvment
      • Real Estate
    • Press Release
No Result
View All Result
  • Home
  • World
  • News
  • Opinion
  • Business
  • Tech
  • Science
  • Sports
  • Lifestyle
  • Health
  • Motering/Cars
  • More
    • Entertainment
    • Travel
    • Crypto
    • Food
    • Home Improvment
      • Real Estate
    • Press Release
No Result
View All Result
London Mail
No Result
View All Result
Home Tech

Jeff Bezos loses $21bn as Amazon shares plunge

by London Mail
January 13, 2024
in Tech
Reading Time: 1 min read
0
SHARES
Share on FacebookShare on Twitter

Amazon said on Thursday night that revenues had climbed by just 7pc in the first three months of the year, its most sluggish growth since October 2001.

The company also recorded its first quarterly loss since 2015 as it took a multi-billion dollar writedown on its stake in Rivian, the electric car company.

Profitability was also hit by rising inflation in wages, fuel prices and shipping costs.

Mr Bezos’ stake in Amazon makes up the vast majority of his net worth, with his stake in space company Blue Origin and other investments making up the remainder.

Investors reacted most strongly to Amazon’s forecast that revenues would climb by between 3pc and 7pc in the coming quarter, a further slowdown.

Mr Bezos has put billions of his personal wealth into Blue Origin in an attempt to rival Elon Musk’s SpaceX. Mr Musk surpassed Mr Bezos as the world’s richest man last year as his electric car company Tesla soared to a $1 trillion valuation.

Mr Bezos has also pledged to put billions into a fund to work on projects battling climate change.

Source link

Related Posts

IMGP4O: Empowering the Future Digital Economy Through Democratized AI Compute
Tech

IMGP4O: Empowering the Future Digital Economy Through Democratized AI Compute

May 31, 2025
The benefits of using AI in business
Tech

The benefits of using AI in business

March 27, 2024
Apple reveals four new phones with better battery and camera
Tech

Apple reveals four new phones with better battery and camera

February 20, 2024
Next Post
It’s not good enough to claim ignorance over Covid deaths in care homes

It’s not good enough to claim ignorance over Covid deaths in care homes

Elon Musk buys Twitter for $44bn

Elon Musk buys Twitter for $44bn

Catherine Tate in The Enfield Haunting will take some beating as the worst show of 2024 | Theatre | Entertainment

Catherine Tate in The Enfield Haunting will take some beating as the worst show of 2024 | Theatre | Entertainment

Recommended

Britain’s biggest stock broker poised to approve £5.4bn Abu Dhabi-backed takeover

Britain’s biggest stock broker poised to approve £5.4bn Abu Dhabi-backed takeover

1 year ago
The swarm of UFOs caught on video near US Air Force base by dozens of stunned onlookers

The swarm of UFOs caught on video near US Air Force base by dozens of stunned onlookers

10 months ago

Election must focus on getting UK economy firing, say business leaders

1 year ago
KitKat fans spot new flavour in Tesco and can’t get over one detail

KitKat fans spot new flavour in Tesco and can’t get over one detail

3 weeks ago

Categories

  • Business
  • Crypto
  • Entertainment
  • Food
  • Health
  • Home Improvment
  • Lifestyle
  • Motering/Cars
  • News
  • Opinion
  • Press Release
  • Real Estate
  • Science
  • Sports
  • Tech
  • Travel
  • World
No Result
View All Result

Highlights

‘Masterpiece’ Netflix crime drama adaptation hailed ’superb’ as it debuts | Films | Entertainment

Urgent health warning as drinking water left in your car could be poisoning your body slowly over time

Hawaiian shirts, fanny packs and awful mispronunciations. Americans are driving Brits mad with outrageous social faux pas… have YOU done these?

‘I asked chefs which kind of olive oil is best and they all said the same thing’

Anyone with olive oil in their kitchen urged to avoid ‘mistake’ which can ruin taste

Carlos Alcaraz breaks his silence on dramatic new haircut – as bemused Rory McIlroy gives his verdict

London Mail

London Mail | Stay Informed, Stay Inspired ©2025, All rights Reserved

Navigate Site

  • Home
  • About
  • Advertise
  • Contact

Follow Us

No Result
View All Result
  • Home
  • Tech
  • News
  • Business
  • Science
  • Health
  • Sports
  • Lifestyle
  • Travel
  • Opinion

London Mail | Stay Informed, Stay Inspired ©2025, All rights Reserved