Amazon shares plunge as Jeff Bezos loses $21 billion and the company faces the biggest drop since 2014 2022-04-29 18:52:00


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

However, Friday’s drop now means that Bezos has lost about $40 billion (about £32 billion) in this year alone.

This drop left a fortune of $152 billion (about £121 billion).

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

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

The company’s profitability was also hit by rising wage inflation and rising fuel prices.

Shipping costs have also caused problems for the company.