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Amazon Founder Jeff Bezos Loses $17 Billion Following Company's Mixed Q2 Earnings
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Jeff Bezos, the founder and Executive Chairman of Inc. (NASDAQ:AMZN), saw his net worth take a plunge, alongside the shares of his company, following its second quarter results last week. What Happened: The fourth-richest man in the world, with a net worth of $237 billion, according to the Bloomberg Billionaires Index, lost $17 billion last week on Friday, from $254 billion the prior day, after investors were unimpressed with the company's second-quarter earnings. The stock was down 8.27% on Friday, following the company's results, despite it beating consensus estimates on sales and earnings. Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — You Can Become an Investor for Just $500.25 This was largely attributed to the slowing momentum in the company's AWS cloud computing segment, which generated $10.2 billion in sales during the quarter, up 17.5% year-over-year, which fell short of consensus estimates at 20%. Amazon shares currently constitute a significant chunk of Bezos' net worth, with 884 million shares, or 8.3% of total shares outstanding, which, at the stock's current market price, is valued at $190 billion. The rest of his fortune comprises Blue Origin, his space exploration company, which, being privately held, is valued at the cost of investment. Why It Matters: According to analyst Eric Allen of Stealth, the market's reaction to the company's earnings was 'totally wrong,' since this was a capacity issue, with Amazon unable to meet the growing demand for its AWS computing resources. Amazon reported $167.7 billion in sales during the quarter, up 13% year-over-year, and ahead of consensus estimates at $161.9 billion. It posted a profit of $1.68 per share, which again beat analyst consensus estimates at $1.30. Bezos has been consistently offloading his stake in the company he founded, having sold 95 million shares in 2024 and 2025 so far, with net proceeds of $18.2 billion. Read More: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo courtesy: Shutterstock This article Amazon Founder Jeff Bezos Loses $17 Billion Following Company's Mixed Q2 Earnings originally appeared on Sign in to access your portfolio
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New marketing coordinator at Discover Kalispell steps into role
Aug. 4—For Annie Young, using professional skills to impact a community in a positive way is one of the best things about working in the marketing industry. Entering her new role as marketing communications manager of Discover Kalispell, Young looks forward to doing just that. "I'm inspired by this place, the joy it brings me personally and the opportunity to help others," Young said last week. "Seeing this team at Discover Kalispell do that day in and day out ... I'm thrilled to be a part of that." As the marketing communications manager, Young is responsible for the development and supervision of marketing and communication strategies, including working with agency partners to amplify the brand presence, continue to build out email marketing, managing the website and designing promotional products. Growing up, Young spent her childhood moving and traveling across the country as her father served in the Air Force. She attended the University of Arkansas, where she majored in journalism, advertising and public relations, and officially landed in the Flathead Valley about five years ago. Prior to moving to the valley, Young would often visit the region, enjoying the mountains and clear blue lakes. With the knowledge and experience of being a visitor to now having a local perspective, Young is uniquely positioned to amplify Discover Kalispell's voice. "I'm really excited to continue the work that's being done here and build on that. Specifically making sure Kalispell is positioned as an opportunity to experience Montana authentically," Young said. Prior to joining Discover Kalispell, Young spent 10 years as the marketing and communications director for Central Washington University Advancement, where she worked on the college's branding, design, marketing, merchandising and production. She looks forward to using the skills she's acquired over the years in a new way that works with the local business community. "The goal is to make sure we're supporting tourism in a way that supports local businesses but also preserves the way of life here," she said. Young, her husband Derek and her son Dillon live in the Flathead Valley. Her daughter, Sydney, lives in Lolo. Young officially started at Discover Kalispell at the end of June. Discover Kalispell is Kalispell's marketing organization that manages a sales and promotion strategy while working closely with the Kalispell Chamber of Commerce and the business community. A fun opportunity for visitors and residents both is the Huckleberry Treat Trail challenge through Discover Kalispell, Young said. The challenge includes a list of savory and sweet drinks and meals across the valley that includes huckleberries. Those who check in at the stops can earn points for a chance to win prizes. To learn more, visit Reporter Kate Heston may be reached at 758-4459 or kheston@ Solve the daily Crossword
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Australia household spending up modestly in June as services sputter
SYDNEY (Reuters) -Australian household spending rose modestly in June as a rush for cars and electronics was offset by a slump in services, showing lower borrowing costs and higher real incomes are only slowly flowing into the broader economy. Tuesday's data from the Australian Bureau of Statistics showed its monthly household spending indicator (MHSI) rose 0.5% in June, just half of the gain seen in May. Analysts had looked for an increase of around 0.8%. "Goods spending rose 1.3% as households spent more on food, new vehicles, and electronics," said Robert Ewing, ABS head of business statistics. However, spending on services fell 0.5% as consumers cut back on air travel and health services. The annual pace of spending growth did pick up to 4.8%, the fastest since early 2024 and well above a trough of 1.5% touched late last year. In volume terms, spending rose 0.7% for the entire June quarter to A$217.8 billion ($140.89 billion), implying a slim 0.2 percentage point contribution to gross domestic product. Household spending accounts for around 52% of GDP but has added little to economic growth for more than a year. Analysts have been hoping interest rate cuts from the Reserve Bank of Australia in February and May and an easing in cost-of-living pressures would make more of an impact. A report on consumer prices out last week showed inflation hitting a four-year low in the second quarter, leading markets to fully price in another rate cut when the RBA meets on August 12. The data also looks to have brightened the mood among consumers, with an ANZ survey on Tuesday showing its index of confidence bounced a sharp 3.9% in July to 90.6, the first reading above 90.0 since May 2022. The MHSI series has replaced retail sales data as the main ABS series on spending. It covers 68% of household consumption, more than double the retail survey, and offers a better guide on what to expect from household consumption in GDP. ($1 = 1.5458 Australian dollars) Sign in to access your portfolio
