At the close of trading on Thursday, Bezos’s fortune was about $ 169 billion, according to the Bloomberg Billionaires Index, and the elimination of $ 20 billion on Friday represented a nearly 12 percent reduction in his fortune.
Including Friday’s losses, Bezos has lost about $ 40 billion in net worth since the beginning of the year – but remains the second richest man in the world, after Elon Musk.
The company has also spent billions on new warehouses to meet growing demand, but some analysts warn that it may have expanded too, too soon.
“Our teams are fully focused on improving productivity and cost-effectiveness throughout our fulfillment network. We know how to do this and we have done it again. “
To offset rising fuel costs and inflation, the retail giant has added a 5 percent increase in fees it charges to third-party vendors using its fulfillment services.
Despite the increase in fees, Olsavsky said millions of new Prime members have been registered during the quarter.
“Given the pace at which the business has grown in recent years, this change is not surprising,” Neil Saunders, CEO of GlobalData Retail, told Reuters.
