Twitter At Verge Of Bankruptcy, Facebook Lost $700 billion, Amazon Lost $1 trillion

After the impact of a shaky economy and a return to life outside the home after the initial COVID-19 lockdowns, Amazon became the first company ever to lose $1 trillion in value. Facebook sees a dip of $700 billion whereas twitter in all its present controversies is on the verge of Bankruptcy.

Twitter at verge of bankruptcy, Facebook lost $700 billion, Amazon lost $1 trillion

The most recent employee to depart the company is apparently Yoel Roth, the head of safety and integrity who had been assigned to publicly address worries advertisers and users had about the platform.The Federal Trade Commission issued warnings after three top security employees resigned: chief information security officer Lea Kissner, chief privacy officer Damien Kieran, and chief compliance officer Marianne Fogarty (FTC). (Twitter and the FTC negotiated a deal regarding privacy issues in May.) Roth and Twitter’s head of client solutions, Robin Wheeler, left the firm after those departures.

This week, Amazon made history by losing more than $1 trillion in value for the first time. According to Bloomberg, it became so when its market worth dropped to $879 billion on Wednesday from its peak of $1.88 trillion in July 2021.

By Friday’s market close, Amazon’s market capitalization had already recovered and surpassed $1.02 trillion. But the mark it established on Wednesday will stand forever.

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After the first COVID-19 lockdowns, a return to normal life outside the home and a weak economy are having an impact on a number of businesses, not only Amazon. As of Friday’s market closing, Microsoft’s market worth was $1.84 trillion, down from its peak of roughly $2.5 trillion. As of Friday’s market close, the value of Meta, formerly known as Facebook, was just under $300 billion. Its worth peaked in August 2021 at just over $1 trillion. Although it has occasionally been lower this year, the Dow Jones Industrial Average is down 7% since 2022 began.

Written by Istafa Ali


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