The future of the American economy does not please the billionaire Jeff Bezos. The founder of the e-commerce giant addressed the issue during an interview with the media CNNSaturday, November 12, 2022. The boss of Blue Origin warned that the US economy might collapse into a huge recession. “The economy doesn’t look great right now” he said, while drawing attention to several factors. “Things are slowing down, you are seeing layoffs in very many sectors of the economy” he added. Jeff Bezos also emphasized that: “The odds say that if we’re not in a recession right now, we’ll probably be there very soon”.
He recommended building up cash reserves
Addressing households, the billionaire advised them to delay major acquisitions including those concerning cars, refrigerators or televisions. He also advised small business owners to plan to suspend investment in new equipment. Also, he recommended them to quickly build up their cash reserves. Note that Jeff Bezos is not the first person to warn of the recession in the US economy this year. Thus, analysts, academics and even investors have mentioned the efforts put in place by the Federal Reserve to fight once morest inflation.
As a reminder, the words of Jeff Bezos come following he made the decision to devote a large part of his fortune to finance social works. The fourth richest man in the world will therefore fund charities like many of his peers. He announced on CNN his intention to do so during his lifetime. He made a first announcement of the creation of a fund of 10 billion over 10 years to finance the fight once morest climate change. The fortune of the boss of Amazon is estimated according to the American magazine Forbes at $124 billion.
