"Hold Onto Your Money," Jeff Bezos Said. Does He Warn of Recession?

In the latest interview with CNN, Jeff Bezos, founder of business tycoon Amazon, warned consumers and businesses to keep their cash with them and avoid unnecessary purchases in the coming months, especially during the holiday season, as economic recession can be appearing soon. 

 

In the interview, he warned customers about the recession and advised them to save cash and avoid irrelevant shopping. 

He advised Americans to avoid high ticket purchases such as expensive cars and televisions. 

He alluded to the recession by saying, "take some risk off the table." He added, "keep some dry powder in hand…just a little risk reduction can make the difference for small businesses if we get serious economic problems. He mentioned that "you have got to play the probabilities a little bit." 

He also advised that if you are going to purchase a big-screen TV, you should wait for a while, hold onto your money and see what transpires. The same is absolute for the new automobile, fridge, or whatever you wish to purchase; just remove some risk from the equation, he added again.

Further, he said, the economy does not seem good right now; things are slowing down. You see layoffs in many sectors across economies.

Recently Amazon, Twitter, Meta, and other tech giants laid off their employees by thousands. He probably indicated why tech companies are laying off their employees. 

Additionally, he mentioned he will donate most of his $124 billion net worth to charity to deal with climate change and support people who can unify humanity.

However, he didn't mention clearly how much he will donate, but he said to donate most of his net worth. 

Currently, Amazon founder Jeff Bezos is the executive president of Amazon, and formerly he was the chief executive officer of this company.

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