Amazon.com Inc. is the world’s first public company to lose a trillion dollars in market value in 2022 due to rising inflation, tightening monetary policies, and disappointing earnings reports. As a result, the e-commerce and cloud company’s shares fell 4.3% on November 9, 2022, bringing its market value down to around $879 billion from a record close of $1.88 trillion in July 2021. So, Amazon Become World’s First Public Company to Lose $1 Trillion in Market Value.
Amazon and Microsoft Corp. were neck and neck in the race to break the unwelcome barrier, with the Windows software maker trailing by $889 billion from a November 2021 peak. In 2022, the world’s largest online retailer has spent adjusting to a sharp slowdown in e-commerce growth as customers resumed pre-pandemic habits. Its stock has dropped nearly 50% as sales have slowed, costs have risen, and interest rates have risen. According to Bloomberg data, co-founder Jeff Bezos’ fortune has decreased by approximately $83 billion to $109 billion since the beginning of the year.
So, it is to note that Amazon’s market cap shrinks to $879 billion from $1.88 trillion. And Microsoft is close behind, with $889 billion in value lost.