Jeff Bezos warns of recession and advises people not to buy TVs or fridges this holiday season

Amazon founder and billionaire Jeff Bezos recently warned consumers and businesses that they should consider postponing major purchases during the holiday season because an economic downturn could be looming.

Talk to CNN, the business mogul advised consumers to keep their money safe and avoid unnecessary spending in the coming months. He recommended American families avoid buying big-ticket items such as new cars and televisions as the United States faces a recession.

“Take some risk off the table,” Mr. Bezos advised People, adding, “Keep some dry powder on hand… Just a little bit of risk reduction could make the difference for this small business, if we go in again.” more serious economic problems. You have to play with the odds a bit.

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He added: “If you’re thinking of buying a big screen TV, you might want to wait, save your money and see what happens. The same goes for a new car, fridge or whatever. else. . Just take some risk out of the equation.”

Mr Bezos also went on to say that “the economy doesn’t look good right now”. “Things are slowing down. You’re seeing layoffs across many sectors of the economy,” he told the outlet.

Separately, in the same interview, the Amazon founder said he would donate the majority of his $124 billion net worth to charities to help fight climate change and support people who can. unite humanity amid growing social and political divisions. Mr Bezos did not specify how much of his wealth he plans to give away. However, when asked if he would donate much of his wealth to charity during his lifetime, he replied, “Yes, I do.”

Jeff Bezos is currently the executive chairman of Amazon, having left his former position as CEO (chief executive officer) last year.