Jeannine Mancini
·4 min read
Amazon.com Inc. Founder Jeff Bezos, a key figure in modern business, saw a massive increase in his net worth from $107 billion in early 2023 to $177 billion a year later, marking a $70 billion gain, according to Fortune. This equates to an increase of $191,780,822 per day or about $7,990,868 per hour.
To put this into perspective, Bezos earns the equivalent of the median lifetime earnings of a typical U.S. worker — $1.7 million in 2023 — in approximately 0.21 hours or about 12.76 minutes. In other words, what an average worker earns over an entire career, Bezos earns in just under 13 minutes.
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Bezos’s wealth growth is mainly driven by his ownership of Amazon stock. Since Amazon’s initial public offering in 1997, the company has expanded significantly, not just in online retail but also in areas like cloud computing with Amazon Web Services and digital streaming. These expansions have continually pushed Amazon’s stock price upward, significantly impacting Bezos’s net worth. In 2023, Amazon’s retail e-commerce sales worldwide were projected to reach $746.22 billion, highlighting the company’s dominant position in the e-commerce sector.
Bezos received a total compensation of $1.7 for fiscal 2022. This total compensation package included a base salary of $81,840, with no bonuses, stock options or awarded stock. The remaining $1.6 million came from other types of compensation. Bezos’s base salary has remained unchanged since 1998.
Over the years, Bezos has sold approximately $27 billion worth of Amazon stock, including a notable sale in 2010 of 6 million shares worth $793 million.
Apart from Amazon, Bezos has diversified his investments. He founded Blue Origin Enterprises, a private spaceflight company with ambitious goals like building space hotels and amusem*nt parks. He also purchased The Washington Post in 2013 and has made investments in various other ventures, including Arrived Homes, a company that allows individuals to invest in rental properties for as little as $100.
His investments range from emerging technologies to traditional media, showcasing his ability to identify and capitalize on various business opportunities. This varied investment approach not only buffers his financial assets against market volatility but also positions him at the forefront of multiple pioneering industries.
Despite criticism over his relatively low philanthropic giving compared to his net worth, Bezos has begun to increase his charitable contributions. In 2020, he committed $10 billion to the Bezos Earth Fund to combat climate change and has made donations to various causes including education and homelessness.
While Bezos's financial achievements may seem beyond reach, they serve as a testament to the power of vision, innovation and persistence. His story offers hope and inspiration, reminding people that with dedication and strategic thinking, significant achievements are possible.
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This article Jeff Bezos Made Over $7.9 Million An Hour Every Hour In 2023 — In Under 13 Minutes, He Brought In The Equivalent Of What The Typical Person Earns In A Lifetime originally appeared on Benzinga.com
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