Amazon stocks surge after Q1 revenue
The Seattle-based company said it pulled in $127.36 billion in revenue for the January-March quarter, a 9% growth compared to the $116.4 billion it reported during the same period last year
Amazon’s efforts against counterfeit products led to disposal of six million items worldwide in 2022
The figure is double the number of the previous year, and the e-commerce giant credits initiatives that include a $1.2 billion investment to fight fraud on its platform
Big Tech companies to cut costs after $77 billion in profits evaporate
Apple, Microsoft, Alphabet, Meta and Amazon earned $243 billion in 2022, down 24% from the previous year
AmazonSmile’s end is alarming, say nonprofits that benefited
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The company also recently announced that it would lay off 18,000 employees and cut other less profitable parts of its business
How Elon Musk lost $130 billion in a year
The business magnate’s net value dropped significantly due to Tesla’s stock crash, while other tech chiefs also saw major losses, according to the Bloomberg Billionaires Index
Alexandr Wang is the new youngest self-made billionaire
The son of Chinese immigrants to the US, Wang dropped out of college after his freshman year to found Scale Al, a company that helps companies like Uber, Toyota, and Airbnb optimize their artificial intelligence systems
Silicon Valley start-up funded by billionaires hires top ‘anti-aging’ experts
The secretive Altos Labs, which is said to be backed by Jeff Bezos and Yuri Milner, has recruited leading specialists to find ways of reprogramming cells and ultimately prolong human life
Who is the wealthiest man in the world, Amancio Ortega or Bill Gates?
The fortunes of Zara and Microsoft founders fluctuate hourly, mirroring their shares’ market performance
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