Saturday, July 29, 2017

Jeff Bezos lost $6 Billion overnight, but, who cares

On Thursday, Jeff Bezos, CEO of Amazon, surpassed Bill Gates to become the richest man in the world, and it lasted for only a few hours.  Later in the afternoon, Amazon’s stock took a significant dip and Bezos, who owns about 16% of Amazon’s stock, lost an estimated $6 billion dollar.  Bezos is so rich, though, that the lost barely matters.

Amazon as a company has had what the New York Times calls “Mind Blowing” success since 2002.  What was once an online book store now virtually owns the entire retail universe.  Its success is a testament to the evolution of retail into digital and is called one of the great tales of capitalism of our time.

Is this only the beginning of Amazon’s climb to complete retail and internet dominance, or are we finally at the peak?

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