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Excerpt from news.google.com
Jeff Bezos loses $21 billion amid Amazons AI investment plans
Jeff Bezos’ wealth dropped by over $21 billion after Amazon announced substantial AI investments at the expense of short-term profits. Amazon shares fell 13%, reducing his net worth to $185.3 billion. This loss was second only to his $36 billion drop in 2019. Bezos, who sold $8.5 billion in shares in February, planned to sell an additional 25 million shares.
