Jeff Bezos recently warned of an impending recession, warning companies and customers not to buy expensive products during the holidays.
Amazon’s founder stated people should save their money and avoid frivolous purchases. He said the US was set to enter a recession, so households shouldn’t buy “big-ticket products” like refrigerators, TVs, and new automobiles.
“Take a chance,” he told CNN.
“Dry powder […] A little risk reduction might help that tiny firm if the economy worsens, “He was quoted. It would be best if you played the odds.
He advised “big-screen TV buyers” to hold off and eliminate risk from the equation.
Bezos claimed the economy “looks bad” and is slowing down. “Layoffs are widespread,” he told CNN.
Bezos donated $124 billion to climate change charity in the same interview. He provided money to persons and organizations working to heal social and political differences. Unfortunately, the billionaire didn’t say how much he’d donate.
Bezos remarked, “Yes, I am giving away a large percentage of my wealth.” He’s pledged $10 billion through the Bezos Earth Fund, where he’s executive chair.
Dolly Parton earned $100 million through the “Bezos Bravery & Decency Award,” which recognizes leaders who “pursue solutions with courage and civility.”
Bezos resigned as Amazon’s CEO last year and said he didn’t know if the US was in a recession “technically.”
The e-commerce behemoth has laid off hundreds and suspended hiring. But, since it’s hard to anticipate when times would improve, the billionaire advised being rational and removing as much risk as possible. “Hope for the best, but expect the worst.”
