The future of the American economy does not satisfy the billionaire Jeff Bezos. The founder of the e-commerce giant spoke about the issue during an interview with the media CNNSaturday, November 12, 2022. Chair blue origin He warned that the US economy could collapse into a massive recession. “The economy doesn’t look good right now.” he said, while drawing attention to several factors. “Things are slowing down, you’re seeing layoffs in many sectors of the economy” he added. Jeff Bezos also confirmed that: Odds are that if we’re not in a recession right now, we probably will be there very soon..
He recommended the formation of cash reserves
In his letter, the billionaire advised families to postpone major acquisitions, including those related to cars, refrigerators or televisions. He also advised small business owners to plan to put investment in new equipment on hold. He also recommended that they quickly build up their cash reserves. Note that Jeff Bezos is not the first person to warn of a US recession this year. Thus, analysts, academics, and even investors have mentioned the Fed’s efforts to fight inflation.
As a reminder, Jeff Bezos’ words came after he made the decision to allocate a large portion of his wealth to fund social businesses. Therefore, the fourth richest man in the world will fund charities like many of his peers. He announced on CNN his intention to do so during his lifetime. The first announcement announced the creation of a $10 billion fund over 10 years to fund the fight against climate change. The American magazine estimates the wealth of the Amazon chief Forbes With 124 billion dollars.
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