In his usual morning round of tweets, President Donald Trump confirmed reports that he would go after Internet giant Amazon for “putting many thousands of retailers out of business.” And with that, the Commander in Chief cut billions of dollars from the net worth of the world’s richest man—Amazon CEO Jeff Bezos.
On Thursday, Trump tweeted that he’s “stated my concerns with Amazon long before the election”—appearing to confirm reports by news site Axios that the president was “obsessed” with Amazon, and was seeking to use antitrust laws against the company.
What the President Donald Trump has said about Amazon is not good news for online firms that are doing online business, but not paying taxes. Amazon has already come under Trump surveillance. The company may face legal troubles if they have any kind unpaid taxes. President Trump has been observing Amazon before the election time and was trying to impose antitrust laws on the company.
However President Trump hasn’t mentioned any time frame for the action that he wants to take against the company. But Trump has given a red signal. This news caused 9 percent drops in the share value of Amazon, resulting in $10.7 billion loss for Bezos who has large stake in Amazon around $107.7 billion.
Read more here: http://fortune.com/2018/03/29/amazon-stock-amzn-jeff-bezos-net-worth/