Jeff Bezos advised businesses to delay purchases during the holiday season.
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.
In an interview with CNN, the business tycoon gave advice to consumers to keep their money secure and refrain from pointless purchases in the upcoming months.
He advised American households to forgo major purchases like brand-new automobiles and televisions because the country is currently experiencing a recession. “Keep some dry powder on hand, Mr. Bezos added, and take some risk off the table.
In the event that we have even more severe economic troubles, even a modest amount of risk reduction could make a significant impact on that small organization. You must slightly manipulate the probabilities.”
He continued, “If you’re thinking about buying a big-screen TV, you might want to hold off, save your money, and wait and see what happens. The same is true for new cars, refrigerators, and other appliances. Simply take some risk out of the equation.”
The economy “does not seem good right now,” continued Mr. Bezos. “Things are sluggish. Layoffs are occurring across a wide range of economic sectors, “He told the publication.
Jeff Bezos advised businesses to delay purchases during the holiday season.
The economy “does not seem good right now,” continued Mr. Bezos. “Things are sluggish. Layoffs are occurring across a wide range of economic sectors, “He told the publication.
Separately, the founder of Amazon stated in the same interview that Bezos will contribute the majority of his $124 billion fortune to charitable organizations in order to fight climate change and to aid those who can bring mankind together in the face of escalating social and political conflicts.
Mr. Bezos omitted to say how much of his money he intends to donate. However, he said “Yeah, I do” when asked if he would be giving the majority of his wealth to charity during his lifetime.
After giving up his position as CEO (Chief Executive Officer) last year, Jeff Bezos is now the executive president of Amazon.
