At least publicly, he’s also been careful with what he’s said about tariffs. In an X post in March, Bezos wrote that his Washington Post’s opinion pages could cover the “damaging and distorting effects if tariffs are used to pick winners and losers.” Late Wednesday, Trump announced a flat 10% tariff, plus higher rates for many of America’s largest trading partners, including 34% on China. On Friday, China hit back with a matching 34% tariff–which, when combined with its existing tariffs, brings the total to 54%.

Against the backdrop of the biggest two-day stock market drop since 2022, Amazon sure looks like a loser. The world’s largest online retailer is heavily reliant on goods manufactured in China. Shares slid 9% on Thursday April 3 (vs. the Nasdaq’s 6%), wiping $16 billion from the net worth of the world’s second-richest person. On Friday, Amazon’s share price is down another 2% as of 1:30 p.m.