Bloomberg Business of Sports: A Dark Day for NYC, NFL
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Amazon Founder Jeff Bezos Loses $17 Billion Following Company's Mixed Q2 Earnings
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Jeff Bezos, the founder and Executive Chairman of Inc. (NASDAQ:AMZN), saw his net worth take a plunge, alongside the shares of his company, following its second quarter results last week. What Happened: The fourth-richest man in the world, with a net worth of $237 billion, according to the Bloomberg Billionaires Index, lost $17 billion last week on Friday, from $254 billion the prior day, after investors were unimpressed with the company's second-quarter earnings. The stock was down 8.27% on Friday, following the company's results, despite it beating consensus estimates on sales and earnings. Don't Miss: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— This AI-Powered Trading Platform Has 5,000+ Users, 27 Pending Patents, and a $43.97M Valuation — You Can Become an Investor for Just $500.25 This was largely attributed to the slowing momentum in the company's AWS cloud computing segment, which generated $10.2 billion in sales during the quarter, up 17.5% year-over-year, which fell short of consensus estimates at 20%. Amazon shares currently constitute a significant chunk of Bezos' net worth, with 884 million shares, or 8.3% of total shares outstanding, which, at the stock's current market price, is valued at $190 billion. The rest of his fortune comprises Blue Origin, his space exploration company, which, being privately held, is valued at the cost of investment. Why It Matters: According to analyst Eric Allen of Stealth, the market's reaction to the company's earnings was 'totally wrong,' since this was a capacity issue, with Amazon unable to meet the growing demand for its AWS computing resources. Amazon reported $167.7 billion in sales during the quarter, up 13% year-over-year, and ahead of consensus estimates at $161.9 billion. It posted a profit of $1.68 per share, which again beat analyst consensus estimates at $1.30. Bezos has been consistently offloading his stake in the company he founded, having sold 95 million shares in 2024 and 2025 so far, with net proceeds of $18.2 billion. Read More: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Photo courtesy: Shutterstock This article Amazon Founder Jeff Bezos Loses $17 Billion Following Company's Mixed Q2 Earnings originally appeared on Sign in to access your portfolio
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27 minutes ago
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Baltimore RHP Grayson Rodriguez to have season-ending elbow surgery
PHILADELPHIA — Baltimore right-hander Grayson Rodriguez will have season-ending surgery on his pitching elbow next week. Orioles interim manager Tony Mansolino made the announcement before Monday's game in Philadelphia. Rodriguez started the season on the injured list due to right elbow inflammation that flared up in spring training. A rehab outing scheduled for April 17 was canceled because of a strained lat muscle. The 2018 first-round draft pick, who missed three months of the minor league season in 2022 with a lat injury, hasn't pitched in the majors since July 31, 2024. He finished last season on the IL with a strained lat.
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Red Sox ride Duran HR, strong outing from Bello to 6th straight win, beating Royals 8-5
BOSTON (AP) — Jarren Duran hit a three-run homer and Brayan Bello pitched six effective innings, helping the Boston Red Sox beat the Kansas City Royals 8-5 on Monday night for their sixth consecutive victory. Rob Refsnyder drove in two runs, and Duran added a leaping, run-saving catch in front of the Green Monster in the fourth. Bello (8-5) allowed an unearned run and six hits. The right-hander has surrendered three earned runs or fewer in 13 of his last 14 outings. The Royals got back-to-back home runs from Vinnie Pasquantino and Maikel Garcia off Jorge Alcala as part of a four-run eighth. But Aroldis Chapman handled the ninth for his 21st save. Royals starter Bailey Falter (7-6) was pulled after four innings. He was charged with seven runs and eight hits. Refsnyder put the Red Sox in front with a two-run single in the first. Duran then pushed the lead to 5-0 with two out, hitting a 419-foot drive deep to center for his 12th homer. Boston rookie Roman Anthony was scratched from his scheduled start in right field due to mid-back tightness. He was replaced by Wilyer Abreu. Key moment With Boston leading 8-5 in the eighth, Kansas City's Bobby Witt Jr. singled to right field. Nick Loftin attempted to score from second, but Abreu's throw from right beat him and Loftin was tagged out in a collision with catcher Connor Wong. The Royals challenged, arguing Wong illegally blocked the plate, but it was upheld after a video review. Key stat The Red Sox have outscored their opponents 44-16 during their win streak. Up next Rookie right-hander Ryan Bergert (1-0, 2.78 ERA) starts for Kansas City on Tuesday night, and left-hander Garrett Crochet (12-4, 2.23 ERA) goes for the Red Sox. ___ AP MLB:
