As Amazon shares fall, Jeff Bezos loses $13 billion within hours

Amazon.com Inc reported its first quarterly loss since 2015 for the quarter on Friday as sales growth slowed while the company faces challenges with rising costs. If the loss continues, Jeff Bezos's worth will come down. At his peak, his net worth stood upward of $210 billion.

Bezos is the world's second-richest person after Elon Musk. In 2022, Bezos is amongst the top losers of wealth. Through Thursday, Bezos has lost more than $23 billion.

The Seattle-based company has been struggling with sales and is facing higher labor costs following a hiring spree. Inflation is another reason why the results have been poor, coupled with the pandemic.


Amazon had a profit of $8.1 billion last year in the same period, while it has reported a net loss of $3.8 billion this quarter. The world's biggest online retailer projected sales in the range of $116 - $120 billion for the second quarter.

Experts said that e-commerce sales are down as people in the US cut down expenses due to high inflation and high gasoline prices increased the cost of delivery for Amazon.