Tag: Jeff Bezos

News & Politics Technology

Will Mark Zuckerberg Follow Jeff Bezos? Know What Experts Have To Say

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With Jeff Bezos stepping down as CEO of Amazon, Mark Zuckerberg becomes the last man standing, who founded Facebook and still owns the business empire. And experts link Jeff Bezos’ resignation to other high-profile resignations of Silicone Valley.

Jeff Bezos’ journey till resignation

What started as an online bookstore turned into the world’s largest marketplace for third party sellers. Jeff Bezos, the proud founder and owner of the tech giant Amazon, shot off his resignation to make way for others. He also owns The Washington Post. He has been at the helm of affairs for 27 years and he knows that his capable team will manage the job with perfection for another decade.

Mark-Zuckerberg-Follow-Jeff-Bezos

Other high-profile resignations of Silicone Valley

Bill Gates stepped down as Microsoft CEO in 2000 and further reduced his day-to-day role in the company eight years later.

Tim Cook took over the reins of Apple in 2011 after its founder Steve Jobs passed away.

Google founders Larry Page and Sergey Brin resigned from CEO and President of Alphabet in 2019 and appointed Sundar Pichai as the company CEO.

Would Mark Zuckerberg resign from Facebook?

Experts have different opinion about Zuckerberg’s future but they are certain at one thing that is his Facebook under the siege and until he brings his company out of the troubled waters, he won’t think of resigning from the top post. But the all eyes are now on Mark Zuckerberg as he is the only man left in Silicone Valley who still owns a company.

Source:- https://bit.ly/36G3Mbb

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Business

Jeff Bezos Announced $1 Billion Investment In India By Amazon

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Amazon chief JeffBezos announced $1 billion (£770m) investment in India. He said that the investment would be used to digitalize small and medium businesses. It would help the businesses to operate and sell their products online.

Jeff Bezos in India

He was in New Delhi to attend a company event where he said that the 21st Century was going to be the Indian century. He was on his three-day visit to India. While addressing the audience at the event, he said that democracy had dynamism, energy and growth.

Mr. Bezos said that Amazon would export goods worth $10 billion from India by 2025. Also, he underlined that the online retail giant had already committed its $5.5 billion investment in the country.

Jeff Bezos met with protests

Thousands of small traders from 300 cities registered their protest against Amazon that they alleged to have a negative impact on their businesses in the local market. They said that the retail giant was driving them out of market by offering lucrative discount offers and promoting a few big sellers on his platform.

Ecommerce market in India

India’s ecommerce market is presently dominated by Amazon and Flipkart that is owned by US retail giant Walmart. Also, Mukesh Ambani is preparing to launch his ecommerce website in competition to Amazon and Flipkart. Mukesh Ambani’s Jiomart would take advantage of its large mobile phone consumer base to expand its reach.

Source: https://bit.ly/2FSCn7W

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Business

Bill Gates Again Becomes The Richest Man After Jeff Bezos Hit Losses

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Amazon founder and CEO Jeff Bezos is no longer the riches man on the earth. He lost the title of being the wealthiest person of the world to Microsoft co-founder Bill Gates whose current worth is $105.7 billion.

Big loss to Amazon and Jeff Bezos

On Thursday, Amazon reported 7% fall in its shares after the after-hours trading. It cost Jeff Bezos $103.9 billion and his title of the richest man on the earth. He earlier broke the 24-year run of Bill Gates for the top position in 2018 when he was declared as the first man with a net worth of $160 billion. 

According to Forbes, Amazon reported a 26% drop in net income in its third-quarter results. But it was its first profit decline since 2017. Amazon shares dropped to $1,624 per share that is nearly 9% drop in after-hours trading.

It was in 1997 when for the first time Jeff Bezos entered The Forbes 400 list of wealthiest Americans. It happened a year after Amazon went public. At that time, its net worth was $1.6 billion. 

Bill Gates entered the Forbes’ list in 1987 with the net worth of $1.25 billion. But he lost the title be being the richest man to Bezos in 2018. One year later, Gates regained his title. 

Bezos couple divorce

In April, Bezos couple finalized their divorce conditions according to which Jeff Bezos gave MacKenzie Bezos his stocks worth around $36 billion. It was called the biggest divorce settle in the history. 

https://www.hindustantimes.com/business-news/jeff-bezos-loses-world-s-richest-man-title-to-bill-gates/story-2CghirRvuUQ3Li9bhjz31J.html
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