Highlights

  • Dip in Amazon's share price has also hit Amazon founder Jeff Bezos' net worth
  • World's fourth richest person is now worth $113 billion after starting the year at $192.5 billion

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Amazon: world’s first company to lose $1 trillion in market value

It's not just Amazon that's bleeding money, the top five US tech companies by revenue have already lost nearly $4 trillion in market value so far this year

Amazon: world’s first company to lose $1 trillion in market value

As the rising inflation, tightening monetary policies and disappointing earnings updates triggered a historic selloff in Amazon's stock this year, Amazon Inc. becomes the world’s first public company to lose a trillion dollars in market value.

Shares in the e-commerce and cloud company fell 4.3%, pushing its market value to about $879 billion from a record close at $1.88 trillion on July 2021. Amazon and Microsoft Corp. were neck-and-neck in the race to breach the unwelcome milestone, with the Windows software maker close behind after having lost $889 billion from a November 2021 peak.

It's not just Amazon that's bleeding money, the top five US tech companies by revenue have already lost nearly $4 trillion in market value so far this year, thanks to rising inflation and macroeconomic headwinds.

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Amazon: world’s first company to lose $1 trillion in market value

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