brad, does this mean that jeff bezos is also the best ceo in the world? gateslet's be clear, bill is giving away his fortune, so that does make it easier for jeff, but look, amazon is done an amazing job. the stock is up 20% this year. sincek it is a force 2013. there are a couple of pieces to it. the retail business itself is 20 three quarters of 20% growth. an entirely, different business that jeff's bond within amazon -- that jeff spawned within amazon. presented a lot of versatility. mark: what distinguishes him as a chief executive? brad: i think it is the ability to manage some a disparate parts of the business. it is also -- he has created a and ay that is relentless forward march. in terms of building these fulfillment centers close to customers, and then to continue to invent new things. you have to give amazon credit. they were probably the most poorly positioned to lead the tech industry in artificial intelligence, and yet, they got into the living room first with the amazon echo and the personal assistant. he has created a very fertile culture

i just don't think jeff bezos is being tweeted well. you don't like the -- jeff sessions.ze. i'm focused on the other guys. if you don't like him, you appoint him, you can get rid of him. dragging him out, not good. what do you think? >> it's pretty tough to be jeff sessions right now. he has a lot of support on capitol hill as we know. what is interesting, he doesn't have a lot of support among the regular americans. 37% of americans, you know, like the job he's doing and like him in office. >> neil: who? sessions or the president? >> jeff sessions. >> neil: that's roughly the same numbers for the president. >> they're in the same boat together. this is a distraction to what the administration is trying to accomplish. a lot of americans want to see it happen. >> neil: okay. judy, my point is it's a distraction that is self-made. i'm not saying you run across cabinet officials that disappoint. but this is something unlike i've ever seen. >> you're right, neil. it's unprecedented to be attacking a cabinet official this way. some viewers think this is a manipulation by presi

but right now given that run-up, jeff bezos is now the richest guy. not always had this top position. it's back and forth gone to the likes of carlos of mexico and warren buffett. but the fact of the matter most of those years, it has been bill gates' world and now it's jeff bezos. if you think of a half-trillion-dollar company called amazon where the sky seems to be the limit, he could get considerably wealthier than that. we'll take a look at the numbers here. nicole petallides will be watching them closely from her perch in the new york stock exchange. here to break down all the numbers. nicole. >> i'm loving earnings season and loving the way the tech stocks are moving here for this who are bullish on the market. we've seen market highs and jeff bezos moved into that number one spot. over the last year, he has gained about 25 billion in his wealth. and one day alone, he can gain over a billion like he did today. so now moves out bill gates from that top spot and bezos, who started selling books in his garage 22 years ago is now the first man to bu

and finally the boss of amazon, jeff bezos, has been crowned if only

and you can check the website. >>> amazon's ceo jeff bezos has overtaken bill gates as the richest personthe world with a fortune above $90 billion. that's according to "forbes" magazine amazon stock opened up 1.6% this morning adding $1.4 billion to mr. bezos net worth. we'll have more on that this half hour. you are up to date that is the news update. back downtown to "squawk alley." sarah, back to you >> thank you >>> and now let's send it over to seema mody at hq with the european close >> hi, sarah investors have a lot to chew on. trying to make sense of the currency yes, it hit 1.17 yesterday after fed chair janet yellen spoke today it's down by .5% against the u.s. dollar. still analysts at unicredit raise the forecast to 1.20 by the end of this year 1.25 by the end of 2018. that, of course, prompted discussion about whether the european equity rally can continue what can keep the stock market alive according to analysts, earnings take a look at the big names i have reported to day nestle, weaker than expected earnings as the world's largest food company continues to deal with pres

jeff bezos briefly at the top.before we see him back up there again. that is it for "daybreak: asia." $92 billion is what he was worth at the top. it is 1.4 billion away from bill gates. standby for "bloomberg whoooo. i enjoy the fresher things in life. fresh towels. fresh soaps. and of course, tripadvisor's freshest, lowest prices. so if you're anything like me... ...you'll want to check tripadvisor. we now instantly compare prices from over 200 booking sites... ...to find you the lowest price... ...on the hotel you want. go on, try something fresh. tripadvisor. the latest reviews. the lowest prices. ♪ it is 9:00 a.m. in hong kong. i am david ingles. toshiba slumping as a california judge rules western digital can try to stop the chip sale. retail sales out of japan miss testaments. the boj admitting the 2% target will take longer than thought. haidi: further and further away. i am haidi lun in sydney. more bad news for noble group, bankruptcy may be the only way forward. this is "bloomberg markets: asia." ♪

>>> the trump administration seemingly taking aim at amazon and jeff bezos the president tweeting this week, quote, is fake news washington post being used as a lobbyist weapon against congress to keep politicians from looking

. >>> and why the internet is buzzing over jeff bezos' first instagram post it's friday, july 21, 2017, "worldwide exchange" begins now. ♪ good morning a very warm welcome to "worldwide exchange. i'm wilfred frost. >> i'm seema mody in for sara eisen. happy friday >> thank you same to you. same to all of our viewers straight to the global market picture. the nasdaq managed to eke out a tenth straight gain yesterday. indeed hit another record close, albeit a fractional gain we saw a fractional loss from the s&p, around a tenth of a percent of a loss for the dow. a flat session all in all yesterday. 7 out of 11 sectors were negative this morning we are called higher by about 25 points for the dow. so again, just a small set of movement in the premarket. ten-year treasury note continued to slip over the course of the week last friday closed at 2.32 much closer to 2.2 now around 2.24% the yield on the ten year at the close yesterday. >> two central bank policy meetings that global markets responded to one is the bank of japan keeping rates unchanged but cutting the inflation forecast in eu

tell us what is behind this. >> nothing is going to stop jeff bezos to win over india.et with more than one billion people. he needs to have a strong digital payment system to make e-commerce as easy as possible. he has big ambitions in e-commerce and payments. one ofal competitors, them has their own large payment service. amazon needs that as well. freecharge is a good extension of that. emily: what does this mean for local competitors? >> amazon would be buying a struggling smaller competitor. for the smaller local competitors, they need to up their game. in the midst of the potential larger localthe competitors are in talks for a merger. this would mean there would be a stronger domestic behemoth to compete with amazon and jeff bezos. jeff bezos has said he wants to invest $5 billion in india so nothing is going to stop him. he will havege, better brand recognition and another channel to acquire new users. definitely something for local competitors to keep an eye on. emily: selina wang covering the other side of the globe. thanks so much for joining us. that does it

jeff bezos jumped past bill gates. time there was a change at the top of the rangings since 2013. his estimated earnings. $92 billion. but it sent the amount lower and put bill gates back at the top. >> 22 years ago jeff bezos was selling books out of his garage. yesterday for a time his net worth jumped $2.4 billion. his company keeping growing and spendingnd become an entrenched part of american life. for a brief time thursday jeff bezos was the wealthiest man on the planet. >> thank you. >> bezos owns about 80 million shares of amazon and its stock has been surging, helping the 53-year-old add to his amount. >> you cannot invent and pioneer if you cannot accept failure. >> reporter: it could be a tug-of-war for a time. his pacific northwest neighbor, the man atop the findings, microsoft's bill gates. >> i think it's inevitable with bill gates giving away a lot of his growth. >> reporter: he said amazon will likely land bezos at the top. >> people expect people at that height to be fill anthro pick. bezos isn't there

busy day for amazon and jeff bezos.e rest of retail compete, with already such high penetration of amazon prime day. >> what you said earlier was so right. they're building an ecosystem. and one of the cool things about prime day today is that if you do it with alexa start talking to it a two-hour head start. once again they're adding a little piece of the puzzle to the ecosystem. it was about 18 years ago today, that when i was at "time" magazine, i was the editor, we decided to make jeff bezos man of the year. and people were saying, well that's nuts. the internet bubble might burst. and one of my colleagues said, he's not in the internet business he's in the customer service business he'll be around in 20 years. he is. >> walter, i'm wondering for some historical perspective, didn't department stores kind of invent the modern holiday season and santa claus and reindeer are we seeing another wave of that from alibaba and from amazon, inventing these sort of e-commerce holidays, times to buy that didn't exist before >>

and finally the boss of amazon, jeff bezos, has been crowned if only briefly the world's richest man.zos‘ worth reached just over $90 billion, which put him ahead of microsoft founder bill gates. that's also in the ft. with me isjoel kibazo, who's an independent media and public affairs consultant and managing director of fti consulting. thank you very much forjoining us. let's start with this story in the independent, worship turns to violence injerusalem. independent, worship turns to violence in jerusalem. indeed. there was a feeling from israel that by removing the barriers and restrictions that had been placed, which were placed on the area after the two policemen were killed on the 14th ofjuly, the two policemen were killed on the 14th of july, that the two policemen were killed on the 14th ofjuly, that things would settle but this is pent—up emotion from the palestinians who feel that their area has been attacked and desecrated. remember, although it is seen as desecrated. remember, although it is seen as a desecrated. remember, although it is seen as a holy area for thejewish

tracee: he did, jeff bezos started out as the richest man dethroning bill gates who held the top spot13, thanks to surge in amazon shares ahead of its earnings report that gave bezos net worth of $93 billion surpassing the microsoft founder $90.8 billion fortune but that was short-lived, bezos slipped back to second place. lauren: poor jeff bezos. tracee: yes. lauren: thank you very much. cheryl: more time to work out and not worrying about being the richest man in the world. lauren: settle for second. cheryl: exactly. back to breaking news overnight we have been following for you, how would the failure of skinny repeal amendment affect health care stock, of course, the overall market, specially today nelson chief strategists at bell point. >> good morning, thanks for having me. cheryl: a lot happened overnight with the failure with mcconnell and republicans on getting anything done. we are seeing dow futures under a little bit of pressure. do you expect this to be a piece of thetory for traders today as to what happened with health care? >> it was certainly part of it and as news lea

jeff bezos has investors on edge after earnings.s the company poised to take over the consumer economy? let's dive into the battle over tax reform. republican leaders conceded the border adjusted tax does not have support to continue negotiations to overhaul the tax code. members of the big six, including steve mnuchin, economic council director gary cohen, mitch mcconnell, senate finance chairman orrin hatch, house speaker paul ryan and aside they are to set back tax in order to advance the tax reform efforts. our bloomberg national political reporter on capitol hill. the problem with abandoning this is how they raised revenues and they want to cut taxes. they saw the line in the statements that they want a lot to be permanent. how are they going to do it? >> they don't know yet. after months and months of them kicking around this border adjustment tax which has been pushed primarily by speaker ryan as a way to create a system where u.s. companies do not have to incentivize the move overseas -- they have had an enormous onck of sup

jeff bezos does.le on august 2nd and now it's been reported that jeff bezos is the richest person in the world. president trump continues to attack jeff bezos. if you're truly pro business, wouldn't the business you want to get behind in terms of america first be an amazon and google rather than -- >> coal companies? >> correct. >> this is the problem with the america first mentality, make america great mentality. it's a rear view mirror mentality, trying to remake america of the 1950s instead of the 2050s where apple, google and amazon reside. the president hasn't shown himself to be tech savvy. >> he knows how to tweet. >> that's one relatively easy skill. what amazon and google do is so highly complex. autonomous vehicles in a variety of different industries that are the future of this company vastly different than coal. csx said it's going to stop making coal-shipping cars because they see no future in it. natural gas is the future. this president from an economic perspective is looking backwards,

jeff bezos becomes a lord everyone else's they serve maybe they augment their income with a gig economy you know delivering locally a couple of meals or they or hire to fix a plumbing job for ten bucks or something like that of course the basic income that is talked about by the likes of mark zuckerberg he's the guy they want to distribute the basic income if they come up with facebook coin her or something like this they've got two billion users around the world they then become of the purveyor of the basic income so you're chatting on your facebook and if you click on enough maybe you'll make five bucks yeah and of course amazon prime is now available to people on welfare in america cards could be so he wants to merge basically well whole foods go down market and to be available for those who are on state subsistence to make some sort of. that capture this mark and i think probably to get state support for his monopoly sort of positions now the next section of this article they go into specific companies of these big five like the fang shares the emergence of oligarchic america the se

supermarket stocks crashed even wal-mart had to pull back because you're taking a business model jeff bezos offering food at below cost to get more people on the prime amazon prime or some other service and he's already said or there's already been talk about getting rid of cashiers getting rid of a lot of jobs delivering food by drone using these whole foods stores as socially drone launching present warehouses to really enjoy near the food market in america but just like to actually drivers truck drivers cashiers these are the minimum wage or little more than minimum wage jobs that are the ball work of the american economy if you get rid of drivers with automated goobers and you get rid of truck drivers with automated trucks you know you going to get really cashiers at whole foods and other go. restores have to compete now with amazon whole foods you're going to put millions and millions tens of millions of people out of a job there on to basic income as you say this is the likes of marx aka bergen people like that are coming forward and saying well maybe we need a basic income because th

jeff bezos yesterday jumped past bill gates.he first time there was a change at the top of the bloomberg rankings since 2013. the net worth of bezos was estimated at more than $92 billion. but quarterly earnings missed estimates, sending the company's shares lower and returned gates to the top. jeff glorer, plains why insiders say bezos won't stay two for long. >> 22 years ago jeff bezos was selling books out of his garage. yesterday for a time his net worth jumped $2.4 billion. his company keeps growing and spending and has become an entrenched part of american life. >> welcome! for a brief time thursday jeff bezos was the wealthiest man on the planet. >> thank you. >> reporter: bezos opens about 80 million shares of amazon, and its stock has been surging, helping the 53-year-old add to his personal fortune by a said $24 billion this year alope. >> you cannot invent and pioneer if you cannot accept failure. >> reporter: it could be a tug of war for a time for the title of the world's richest between bezos and his pacific northw

management first on "squawk box" tomorrow on cnbc. >>> with amazon going after whole foods, ceo jeff bezosbillionaires shelling out 200 million to back the farming startup called plenty joining us from san francisco is plenty's co-founder. good to have you with us >> good morning. thank you for having us. >> walk us through what your aspirations are here and how they dove tail with bezos. >> our aspirations are bold and big. we've been working to bring fresh food to people in communities around the world when people walk into a plenty farm, what they will walk into is about the size of a couple soccer fields and that small farm can produce as much as hundreds and even up to 1,000 acres of traditional fuel capacity. >> yeah. how is -- what is the difference in traditional yield and what makes that possible? >> well, when you walk into our farms, what you'll see is you will see walls of plants growing sideways we like to call them kind of a cathedral for happy plants and so 20 feet tall and even higher and as far as the eye can see, you'll see dense walls of plants and what that produces is

amazon, a gain of $17, makes founder jeff bezos the richest person in the world.ed republican leadership is trying to hammer out details of a plan, tax reform plan tomorrow. congressman roger williams is with us, republican from texas. i keep hearing about higher taxes on wealthy people. how do you feel about taxing more the rich? >> we need to have, we don't pick winners and losers, we have the highest tax rates in the world, we need to bring midline to compete, we don't need to be raising taxes, we need to be cutting taxes, empowering mainstreet, putting people back to work and creating cash flow in our country. stuart: tomorrow if we get the tax plan is there one single item you can tell us everybody agrees on? >> we need to cut our rates and i hope we can agree on things like repatriation. stuart: the one thing you are sure we are going to get that everybody agrees on is cutting individual tax rates or corporate tax rates? >> we can count on cutting corporate tax rate. stuart: that is one thing guaranteed? everybody agrees on that. >> most of us agree so we wi

's revenue.amazon what the second quarter means for the online retailers online and jeff bezos.ill we see a preview of a bigger move? samsung is unscathed despite the crises within the first half of the year. it has come within striking distance of apples top spot. amazon shares dipped thursday after they reported disappointing financial guidance, especially a potential loss in the third quarter. the earnings per share missed the low analyst estimates. amazon is preparing to step up competition with walmart and cloud computing challengers. we broke down the numbers. >> this is a company that is investing. there is a cost to all that free video. emily: where are the expenses? >> they don't specify. it's video. they are building fulfillment centers closer to cities. they are making all these great shows like "transparent" and "man in the high castle," that costs money. the stock is down 2% are in this an unflappable shareholder base. there is this deal of the company. emily: shares are down 3%. >> this is why bezos is number one or now he isn't. the point is, they are able to take

>> it does and of course amazon doesn't own the washington post, jeff bezos owns it personally.a bit of a head scratcher, quite frankly, and the president has never really said why it is, what he has against amazon because, yes, amazon is by pretty much any measure an american success story. jeff bezos is, he started that company in the '90s selling books out of i had garage and it's turned into a massive retailer around the world and a huge force that is, as you mentioned earlier, hiring a bunch of people or talking about it. so what exactly it is we don't know, other than perhaps what the washington post is reporting that might be at odds that the white house wants to get out. >> it is extra order naer. maybe the office of innovation led by jared kushner can work on that. we'll find out. thank you so much. i appreciate you joining. >> you bet. >> thank you. that's going to wrap me up for the hour. i'm sfefny ruhle, thank you for watching vel semiand ruhle. right now i have the honor of handing off to my friend, colleague, a hee he hero of mine who by the way was on tv with set

think about jeff bezos. what does that mean?you take the stock or 5 for 1 split and trading at a thousand bucks, you bring it down to 200. now everyone can buy it. ic that's the next big announcement coming out of amazon. that's what i'm looking for. cheryl: interesting take and that would make a lot of sense. really quick, you mention jeff bezos, do you agree or disagree with buying whole foods? >> huge deal, they will crush fresh direct and everyone else out there. the building, the lobby is loaded with amazon boxes, you know, people just buying food, yeah, don't get in the way of this thing, this is a brilliant, brilliant deal. cheryl: thank you, adam. >> okay. lauren: dow rise of the future of the senate health care reform bill. >> my view is it's probably going to be dead but i am -- i've been wrong, i thought i would be president of the united states. [laughter] lauren: and facebook cutting the price of its virtual reality head sets again. we will tell you exactly why and before we go to break, let's show you how the marke

is the confidence in jeff bezos deserved? >> yeah.ou look at a 20 year history of a public company. he called his shot at how he was going to run the company. investing for the long-term. they have periodically signaled they are entering into investment cycles were they will spend a lot of money on things like fulfillment centers. they operate the company with a lot of discipline. they give you these broad estimates, but they always hit those estimates. if you do that enough times, investors trust you. he has earned the trust. emily: will this deal accrue any anti-trust scrutiny? how big is too big? >> that's a fair question. they have a larger influence than even what they are selling themselves. in the current environment with his ownership of "the washington post" and the way donald trump views that, there is an incentive to say maybe we should look a little that direction. emily: they sat next to each other at that meeting at the white house. they are not best friends. >> no. look at the president's tweets. by any rational measure

instagram has a new member, amazon ceo jeff bezos published his first post yesterday, a flyover video he's building for his rocket company. a drone flies in and stopped above bezos with a sign that says rocket factory coming soon. they will build reusable rockets that could deliver cargo and passengers to space by the end of the decade. >> #goodtobejeffbezzose. >>> just ahead the new dating app that helps you find your favorite celebrity look alike. >>> when is it okay to touch the queen? the breach in royal protocol that has people talking. your trending stories are next. as moms, we send our kids out into the world, full of hope. and we don't want something like meningitis b getting in their way. meningococcal group b disease, or meningitis b, is real. bexsero is a vaccine to help prevent meningitis b in 10 to 25 year olds. even if meningitis b is uncommon, that's not a chance we're willing to take. meningitis b is different from the meningitis most teens were probably vaccinated against when younger. we're getting the word out against meningitis b. our teens are getting bexsero. be

what the second quarter scorecard means for the bottom line and founder jeff bezos.s, twitter's flatline. the struggling network beats on revenues and earnings in the second quarter, but did not move the needle on user growth. we will discuss its prospects for a turnaround. and samsung unscathed despite the crises within over the first half of the year. business is booming for the korean conglomerate. how it is within striking distance of apple's top spot as the world's most profitable company. first, amazon dipping in after-hours trading due to disappointment with its financial guidance, especially its projection of a potential loss in the coming quarter. the earnings-per-share missed lowest analyst estimates. results showing amazon is prepping to step up competition with rival walmart and cloud computing challengers microsoft and alphabet. investors continue to have faith in ceo jeff bezos to keep the company growing by entering new categories like groceries and appliances, along with expanding abroad. joining us now to break it all down, our guest host for the hou

but brad is the confidence in , jeff bezos deserved?> for consistency, he called this shot early on about how he was going to run the company. free cash flow, investing in the long term. the have periodically signaled they are entering into -- cycles cycle where where they will spend a lot of money on certain things. they operate the company with a lot of discipline. they give you these broad estimates, but they always hit those estimates. if you do that enough times, investors trust you. if he has earned the trust. -- i think he has earned this trust. emily: will this accrue any anti-trust scrutiny? the move that amazon is making? will they get too big? >> that's a fair question. as they build out all of these infrastructure capabilities and they have a larger influence. they are selling themselves. and in the current environment with his ownership of the washington post and the way donald trump views that, there is a some incentive to say yeah, maybe we should look a little that direction. amalie: and despite they sat the fact they sa

amazon and jeff bezos are known for making bold investments even at the expense of profits. looking forward, investors will want to know when and how those big investments will want to pay off especially how the whole foods acquisition fits into the plans. i'm deidre bosa, san francisco. >>> r.j.hodaby joins us to talk about the mixed quarter for amazon and what he sees for the company. r.j., welcome. good to see you again. did something go wrong here? why were people so surprised with the number? >> no, i don't think anything went wrong here. i think it was just a heavier investment quarter than usual for this company. if you look at the things that they're spending on, we'll get more clarity on the call this afternoon. it looks like they're investing in fulfillment centers, i'm guessing u.s. and international. there's technology expenses as well. i'm assuming that has to do with the echo portfolio products, some of the other investments they're building on and the aws investments as well. i'd be more concerned if we weren't seeing the top line accelerate. that's the real n

which has proved very lucrative for this person — the firm's founder — jeff bezos.person in the world — overtaking microsoft's bill gates. but it was a brief reign. as the share price has come down again, he has dropped back into second place. joining me now is ben preston. amazon don't tend to go for big profits, so why were wall street disappointed this time? well, the shares are indicating they will be down a little today. in the context today i think they're still likely today i think they're still likely to be satisfied with these results. it's the same old amazon in lots of ways. the amount they sell gets larger but they don't let those profits fall to the bottom line. they prefer to reinvest into the future. it's a formula that's worked well for them. building an empire is understating it, he is going global, seems to be getting into every aspect of our lives, tv investment, original content, where do you think they're going to go next? that's rightt they're going to go next? that's right t all started with the smartphone which has redefined the way we live a

back for a second to amazon, jeff bezos had a short-lived run as the world's richest man, richest mansay it. amazon shares lifting bezos net worth to roughly, get this, $91 billion. we did a little math. if you had as much money as bezos you could afford to buy -- and with amazon shares not faring well, bezos net worth is back down, back below microsoft's bill gates below $89 billion. >> he could add to the list, he could buy 32 nfl franchise teams. he could buy the entire nfl. how about $10 billion left over for popcorn. gerri: take the stock of those things, which would you buy? >> i think the nfl teams, you are guaranteed to win the super bowl. gerri: that's a good idea. >> that's amazing, if you think about warren buffett and bill gates, jeff bezos better learn how to play bridge now that he's up with the ranks of the top. gerri: they're cool, though. they are cool. gerri: money is cool, great job, ken, great to see you, again. coming up, attorney general jeff sessions heading to el salvador to crack down on the murderous ms-13 gangs. he's facing friendly fire at home. potsch: you

jeff bezos is same basic ilk. he runs amazon. he has a rocket company.to colonize deep space. he is not sure about mars. for scale, here is a astronaut sitting up on tail end of the rocket. it is big. if you every want to go into space, and like my, you break into cold sweat when elevator doors take too long to reach the floor, this is the rocket, not like no windows like the other guy. before we end i have a space age quiz. i have three copies of the book to give away. i know there is couple of ringers in here, you probably shouldn't weigh in, but for you civilians, you know who i am talking about david. for you civilians, who was the third man to step on the moon? >> pete conrad. >> wow. give the man a hand. most people don't get that one. probably made these two easy. i will be completely embarrassed. who was the first woman to fly in space? >> did it with the accent. [inaudible] >> most people say sally ride. she was female cosmonaut in 1963 was it? val tina. [inaudible] what's that? was he wearing a shirt? okay. question number three, last one. what

and jeff bezos -- and ceo -- and amazon ceo jeff pesos is the richest man in the world.rg. ♪ ♪ vonnie: this is "bloomberg markets." i'm vonnie quinn. breaking news, bill ackman, the billionaire investor pershing square capital management told a stake in business outsourcing company automatic data processing, according to people familiar with the matter. as we know it, ackman may acquire more through the new for, he filed documents all according to people who asked not to be identified. .hares are up 18% he has a market valuation of $50 billion. let's get to data now midway through the session. the dow jones is shaping up its games of 2/10 of 1%. is your weaker today. a stronger dollar, but below 94 if you look at the dollar index. the spread continuing to whiter, 95 basis points, 10 basis point moving last concessions or so. jeff bezos maybe the richest person in the world, but is he delivering the same value to his shareholders? amazon will report value to its shareholders. for more, spencer joins us on the phone from seattle. bezos thes jeff richest person in the world

we were talking about jeff bezos being the richest man alive. think also a couple other things working against tech which is this month the market has been inclined to sell the winners. the year to date winners are the worst performers this year and then earnings season, you've had to have absolutely across the board blowout numbers to get rewarded on the first day. so you saw alphabet. you had a little pullback on generally good numbers amazon the same effect i think all that is causing people to wonder whether it's time to take some chips away from tech. >> i think, especially looking at amazon, i mean, it's been great growth stock it always trades at a super high multiple people take some profit taking off that i think there are psychological markers, right, like when you hit that 500 million mark. i think we maybe that's the limit there. so i think -- >> logical versus fundamental catalyst. >> amazon traditionally the bottom line is not the thing you want to look at. they have given a weird range in the estimates. we could lose $300 million

you end up with an american social security pool all capital so if the economy goes through if it jeff bezos comes through wipes out an entire class of worker that worker has a piece of amazon and then they would get their kids get eighteen years of age or whatever there's money for college to be educated there's money for health care so it's kind of a twist on the tobin tax a little bit where you would tax all financial transactions a little bit this is a live a more equity oriented or stockbroker friendly if you will what do you think of this idea of turning social security into a real investment scheme i think is great or how you do it will number ways but you could approach it right now there's no investment at all now it's just cash treasury spencer cash and one day be so screwed administration calls and says hey we need to cash back in to give it to a so called good ponzi scheme and that you have people dying and people being born and it feeds the in the pool of capital and made sense of the depression when you have lots of young workers but not so much today it's like a sovereign weal

either the washington post with jeff days of paid around two hundred fifty million dollars for jeff bezos has a deal through amazon with the cia he for six hundred million dollars an awfully twice what he paid for that paper probably three times what it's worth right now so again we're we're having these people these so capitalism right now we need anti trust laws to be enforced so we're right now barack obama didn't know antitrust laws and he didn't need approval from congress to do that you know it was teddy roosevelt who was a republican who came in and broke up the trust before bulk of the monopoly so if you believe in capitalism you supposed to believe in the power of competition but what we have now is capitalism that eliminates competition so what amazon dot com does if you say if you will if you are started diapers dot com which happened what jeff bezos does was offer the same product for less money he'll take a loss until you're out of business i mean that's not supposed to happen in america gerri we're out of time i could talk to you forever but i love that i love having you on

because it involves the internet sales giant amazon and the newly crowned richest man in the world jeff bezos you see amazon through one of its going to lackey corporations is trying to muscle power lines through the historic community to power and amazon data center expansion in the area now one would think that any story involving amazon a historic minority community fighting for fighting for their neighborhoods that includes properties acquired under eight hundred sixty six law that allowed freed slaves to own land would make for great anger to your average journalist but sadly apart from a few local papers and alternative news sites this story has been largely ignored but why would this be well journalist adam johnson of fairness and accuracy in reporting is spawning a very interesting pattern of coverage concerning mr bay's those amazon and tech reporting in general by a least three of the biggest newspapers in the united states the new york times the wall street journal and the washington post johnson writes a review of one hundred ninety articles from the new york times wall street jou

plus there is a new richest man in the world the first trillion dollar company, the details on jeff bezos' power lunch . >>> welcome, everybody i'm brian sullivan's better looking twin brother let's look at the markets. the dow, s&p and nasdaq hitting record highs again today telecon and consumer discretionary are the best performing sectors not a lot but enough, the nasdaq and the s&p may be down a bit right now but hitting lord highs, verizon, merck, boeing, disney are your dow leaders. boeing's move comes on the back of 10% gain yesterday. on the flip side, the transports are having their worst day in over a month 5% below their record high get this, just breaking a few minutes ago, adp shares, they probably make your payroll checks, soaring on news that bill ackman's pershing square is building a stake in the company. >> i'm michelle caruso-cabrera it's the busiest names of the earnings season. check out the names, verizon, u.p.s., adp, mastercard, twit to name a few lr then the after-the-bell biggies, and this is a biggie, amazon, starbucks and intel. here to take us inside the numbe

james, james: the thing is, there is no way that my thinking 's in line with jeff bezos thinking.robably several steps ahead. about how they could leverage the whole foods infrastructure. here i couple things we know -- the restaurant business is an $800 billion industry. over 20%ood sales is in china versus 2% in the u.s. the margins are right for the taken in terms of prepared food. a think we could be in situation where amazon could leverage their data and analytics and predict the type of taste preferences on the palate of each individual markets, leverage the infrastructure of whole foods to act as a commissary,/the margins, and then deliver celebrity chefs tied in dishes for five dollars a pop for prime members. it could potentially open up a whole new array of food services beyond delivery and grocery. caroline: wow. eileen, you were just talking about it not being the time to go into the food delivery company, even though it might be looking at delivery hero which is had an ipo. do you see this sort of potential for the restaurant chains themselves? eileen: absolutely, i c