Amazon’s Jeff Bezos will be appearing before the House Judiciary Committee’s antitrust subcommittee via video conference for the first time, along with Apple’s Tim Cook, Google’s Sundar Pichai, and Facebook’s Mark Zuckerberg.
The 56-year-old CEO, who just had an increase of $13B in his net worth last week, is expected to face a tough cross-examination over Amazon’s dominance in the industry and provide precise answers regarding the company’s private-label business, as Amazon was found using data from third party merchants, to possibly use against them, developing its own private-label biz.
Lawmakers have previously put high-level executives of Google, Amazon, Apple, and Facebook on the hot seat, aggressively questioning them, and Bezos will likely get the same treatment. This marks the culmination of a year-long investigation on the four powerful tech companies.
The mogul may have previously spoken about his willingness to testify before Congress, but no one can deny that he’s been dodging them pretty well over the past years, not even talking about the issues in public. This hearing may be quite challenging for the controversial CEO whose current net worth just reached $178.2 billion amidst the widespread job losses in the pandemic.
An outspoken critic of Amazon’s effect on small businesses, Stacy Mitchell, provided insight via Business Insider saying, "What I'm assuming is on the committee's mind is getting to the bottom of questions that Amazon has dodged answering so far."
Meanwhile, Elon Musk and Bezos continue their feud wherein Musk recently called the aspiring trillionaire too old, and Blue Origin too slow to ever send people to the moon.
The two billionaires share the same ambitions when it comes to space, founding SpaceX (Musk) and Blue Origin (Bezos), but have been head to head for many years now. Bezos has not yet commented on Musk’s latest jab.