Jeff Bezos, the creator of Amazon and a multibillionaire, recently advised consumers and businesses to think about delaying big purchases during the holiday season because an economic recession might be on the horizon.
Additionally, he counselled American families against investing in expensive products like brand-new vehicles and televisions at a time when the country is experiencing a recession.
In a CNN interview, the billionaire urged customers to save their funds and refrain from irrational Christmas buying.
Bezos suggested, “Take some risk off the table.”
He continued, “If you’re thinking about buying a big-screen TV, you might want to hold off, save your money, and see what happens. The same is true for new cars, refrigerators, and other appliances. Just take some danger out of the picture.
He continued, “If we do run into even more serious economic problems, a little bit of risk reduction could make the difference for that small business. You need to slightly adjust your odds.
The economy “does not seem good right now,” according to Bezos.
Separately, the founder of Amazon, Jeff Bezos, declared in the same interview that he will donate the majority of his fortune during his lifetime, making him the newest billionaire to make such a commitment.
Bezos announced the news in a joint CNN interview with his girlfriend Lauren Sanchez, whose “real-time” net worth Forbes magazine pegs at about $124.1 billion. The billionaire said the pair were developing the “capacity” to do it but did not say how or to whom he would distribute the funds. In the interview, Bezos stated, “The hard part is figuring out how to do that in a levered way.” “It’s not simple. Amazon was not simple to build. It required a great deal of effort and astute teammates. And I’m discovering—along with Lauren—that philanthropy is extremely similar. It’s not simple. It’s very challenging.
After leaving his previous position, Jeff Bezos is now the executive president of Amazon.
- Recession warning from Jeff Bezos, avoid buying tv and fridge this holiday season
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