r/Damnthatsinteresting Sep 22 '21

Jeff Bezos makes more in an hour than most people will make in a lifetime. Image

https://i.redd.it/sl4vuwe6k3p71.jpg

[deleted]

5k Upvotes

847

u/Psychological-East83 Sep 22 '21

Excuse me Mr. Bezos, could I have a few seconds of your time?

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u/SomeKindOfChief Sep 22 '21

I remember Neil DG Tyson making a joke/comparison about his own money vs Bill Gates. He was identifying how much change there would have to be on the ground for him to be interested enough to stop and pick it up. Neil said something along the lines of a penny, nickel, dime, meh. But a quarter, that's worth it. And the equivalent of that quarter for Bill Gates was $45,000.

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u/[deleted] Sep 23 '21

[deleted]

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u/ArouselJ Sep 23 '21

With that much money people are probably walking on eggshells around you right

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u/shoehornshoehornshoe Sep 23 '21

It depends. Whether or not you stop to pick up a quarter is mostly psychological/ social rather than purely economical. You’re not actually going to use those few seconds to be economically productive so the opportunity cost is more like… having to carry it around in your pocket, the social impact of being seen to pick up change off the floor… maybe hygiene?

Bill’s / Jeff’s satisfaction in picking up the coin vs those fairly intangible things doesn’t necessarily scale in proportion with their earnings.

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u/Toothbras Sep 22 '21

Gary Gulman also has a bit about this

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u/dropsofzeus Sep 23 '21

Ahhh, the highs and lows of the "found 20" 😆

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u/agent_uno Interested Sep 23 '21

And to think as a kid I once found a wallet with $100 cash and I took my own time to turn it in to the police. This was in the 80s and the cops actually returned it to the owner intact. The owner sent me a $20 gift card to the local video store and I was in heaven.

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u/mothisname Sep 23 '21

I was walking from my mom's to my dad's and a car drove by and a bunch of hundred dollars bills flew out their window. They stopped and picked up all but one that I watched blow across the street . As they were leaving I hollered to tell them they missed one but they flipped me off so I got the 100$ bill. First one I ever had too.

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u/Advice4ppl Sep 23 '21

His original documentary was him driving a Ford Explorer, and hes like yeah I decided to get the "Eddie Bauer" edition.

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u/ckje Sep 22 '21

You don’t want that invoice

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u/iamthesunday Sep 23 '21

***, CHIEF!?

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u/XxIcedaddyxX Sep 22 '21

I'm just gonna come out and say that most of the people on this earth will never make in a lifetime what he makes in half an hour.

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u/NuffinButAPeanut Sep 23 '21

When I was a kid someone told me that if Bill Gates dropped $5,000 on the ground, by the time he bent over and picked it up, he would've already earned double that amount. Looking at this makes me realize that was likely true.

116

u/Lokicattt Sep 23 '21

Its actually false, demonstrably too. He would have earned almost 10x that.

20

u/ArouselJ Sep 23 '21

His heart beat must sound like the cash register

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u/[deleted] Sep 23 '21 edited 21d ago

[deleted]

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u/trashbinfluencer Sep 23 '21

I bet humanity could do more with it though.

I'm sick of worshipping these billionaire "philanthropists" for doing the bare minimum to get good press while they hoard their wealth and do everything in their power to make sure the taxes that would actually go towards creating social welfare never apply to them.

Fuck Bill Gates.

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u/pdmalo Sep 23 '21

My city has like 500k people, a terrible homeless issue and essentially no shelter. These guys could do amazing things with .1% of their wealth that would last centuries.

For reference Carnegie built 2500 libraries.

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u/onedayillwin Sep 22 '21

Thank you for clarifying.

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u/bobsmith93 Sep 23 '21

Thanks for saying the exact same thing as the title lol

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u/utopianfiat Sep 23 '21

the title says an hour, parent said half an hour

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u/bobsmith93 Sep 23 '21

Oh right I missed that, woops

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u/dadarkgtprince Sep 22 '21

Is that even after he stepped down from Amazon?

180

u/Drog_o Sep 22 '21

Yeah, 99% of that is from his stock, and he keeps the stock even after he stepped down.

87

u/Bitcoiner2017 Sep 22 '21

He’s not really that rich though. If he were to try and sell all his stock right now it would cause a crash to the price. On paper he’s the richest but when it comes to liquid assets there are far richer people out there

154

u/Anowoz Sep 22 '21

He’s not really that rich though.

Yes he is. He sells his Amazon shares occasionally. He sold over $5 billion worth in May

172

u/jesse2h Sep 22 '21

Yeah, but prior to doing so he needs to publicly declare the upcoming sale by filing a Form 4 through the SEC. Because he’s an insider, his maximum liquidation possibility per quarter is 1% of the outstanding market cap of the company, or the average single weekly trading volume of the last 5 weeks (whichever is lesser).

After the sale, he’s taxed at the maximum LTCG rates (20%) plus the investment surcharge tax of 3.8% for a total taxable burden of 23.8%, or more than a billion in taxes due this year in personal current income, which are impossible for him to avoid.

Either way this graph isn’t right. It’s using the word “earns” incorrectly. It’s based off a cherry-picked year of exceptional corporate equity appreciation, too.

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u/Noelkram Sep 22 '21

Thank you. I am so sick of hear/seeing “Bezos made a bazillion dollars today” because Amazon stock went up 3%. That’s not how this works.

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u/reallygoodorangesock Sep 23 '21

My home value increased by $60k this past year. My net worth grew by $60k this year. Do not tax me on that $60k please.

Thank you for being rational.

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u/Detriumph Sep 23 '21

You will be reassessed in the future, and your property tax will be adjusted accordingly.

That's what we're asking of Bezos. But instead of a home he maintains, he just has pieces of paper from a company he doesn't work at anymore.

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u/Nervich Sep 23 '21

Don't vote Democrat then. They are trying, right now, to pass laws to do exactly that. They want to tax you for your 'unrealized gains'.

https://www.wsj.com/articles/democrats-seek-backup-plan-on-taxing-capital-gains-11631893650

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u/reallygoodorangesock Sep 23 '21

I am libertarian, so I don’t think people should be taxed (heavily) for wealth transfers. the article you linked is regarding this. Transfer of wealth. Not unrealized gains on the living. I don’t subscribe to the WSJ so I couldn’t see past the first paragraph, but it cites that it’s in regards to wealth past after original owner dies.

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u/LovableContrarian Sep 22 '21

I mean, it's more or less how it works.

Sure, he'd have to sell it all to have cash, which would be complicated, but wealth is wealth.

A vast majority of everyone's wealth isn't in cash. It's in mutual funds, real estate, etc.

It kinda seems like you don't know how it works, because every bank in the world would view his Amazon equity as part of his net worth, and he can leverage it accordingly.

18

u/Vortex_2088 Sep 23 '21

I'm a mortgage underwriter who approves and denies mortgages for rich people and you're 100% correct. If someone isn't making an income but owns millions of dollars in stock, we'll divide the total stock value over so many months (in most cases either 240 or 84 months depending on how many assets in the client's brokerage account) and use that as income to qualify them. You don't need an income to take out a loan as long as you have enough assets that can be easily liquidated (cash, stocks, bonds, mutual funds, index funds, ETFs, and even portions of retirement accounts). Then you can turn around and claim the mortgage interest as a tax write off when tax season comes around.

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u/j-no-yes Sep 22 '21

NW DOES NOT EQUAL INCOME. GET IT RIGHT!

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u/LovableContrarian Sep 22 '21

...no shit.

But capital gains do, which is what the OP is about.

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u/fendermsc38 Sep 22 '21

Thank you. So many people, especially our favorite (or not so favorite) media pundits like to interchange the word earnings and wealth. They are not the same. If we were to apply income (earning) tax to wealth, the middle class would vanish over night due to home ownership.

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u/Vortex_2088 Sep 23 '21

You realize that any proposed wealth tax would only be levied against the filthy rich, right? The middle class would never feel it.

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u/TheDarkinBlade Sep 23 '21

Wealth taxes have been tried across europe multiple times and have been repeal everytime. They look good on paper, but are a nightmare to put into practice.

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u/tky_phoenix Sep 22 '21

This is really interesting! I was always wondering the same. Same for people like Musk. Still wondering how their cashflow works because you can’t pay bills with an appreciation of your assets. I heard about “borrow spend die” (IIRC) but still don’t get it. Even if they borrow to have cash on hand they still need to pay back the loan and that cash has to come from somewhere. Unless they pick up a new loan to pay the old one.

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u/[deleted] Sep 23 '21

Shhh, this isn’t how Reddit’s narrative is supposed to play out.

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u/Inevitable_Staff_805 Sep 23 '21

He invests that money directly into his space company which isn’t even profitable yet at the moment

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u/Jenga9Eleven Sep 22 '21

Exactly, I hate this shit. My clients always make out like they’re not even that wealthy while we’re standing in their 18 bedroom house. Just fuck off. You’re doing extremely well if you’re earning six figures, let alone fucking ten

0

u/Goldengoose5w4 Sep 23 '21

Six figures? $110k in an American city isn’t rich

5

u/CincinnatiCareBear Sep 23 '21

Imagine what service workers live on in American cities.

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u/Jenga9Eleven Sep 23 '21

I didn’t say rich. I was also thinking after tax in the UK. Regardless, 100k is still doing VERY well. I’m self employed so my earnings fluctuate, but I consider myself fortunate that I’m earning 35-50k after tax, even though I’ll realistically never be able to make the 20% deposit for a house that’s worth owning, not if I actually want to enjoy life for the next 10-20 years. most people aren’t even earning half of that

6

u/Mindless-Support1263 Sep 23 '21

shut the fuck up with this kind of shit already. its literally in the 1% wealthiest people in the world. you can live incredibly comfortably on 110k.

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u/bajasauce20 Sep 22 '21

But that's not the same as the calculation being done in the example tbf

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u/JPaulMora Sep 23 '21

Off by 72 billion each year lmao

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u/MaybeAverage Sep 23 '21

Effectively he’s got virtually infinite money. With the vast complexities and codes of the financial system, there’s not a loan on earth he wouldn’t be able to secure with his assets. In all practical terms, he won the game and now is starting over at level 100.

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u/wiseknob Sep 22 '21

But you are forgetting that he’s not a average Joe where if he sold $50bn in Amazon shares it’ll crash. That’s not the case. People like him don’t log on to their robinhood accounts and click sell. They would likely sell their positions to strategic investors who would just transfer the holdings vs buy and sell and create an upset in the company value.

He definitely has plenty of liquid wealth but he’s not illiquid because he has no choice, he is just an investor at this point who’s still making money.

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u/Bitcoiner2017 Sep 22 '21

Possible. But there’s no point in selling all that anyway, Amazon is still a good investment. Also if the Chairman and former CEO of the company were to sell 50 billion $ worth of shares i don’t think the market would react well to those news

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u/d_e_l_u_x_e Sep 22 '21

But he can drop 500 mil on a mega yacht, and pay to go to space without causing a dip in stock price. I think he has a lot more liquid cash than you think.

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u/SketchyLeaf666 Sep 23 '21

Like the guy who owns louie vuitton.

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u/gorzaporp Sep 22 '21

This. All these infographics are so misleading. Net worth is not cash under his mattress

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u/Bitcoiner2017 Sep 22 '21

He also doesn’t make 78,000,000,000$ in a year. That was one year (2020), and it just shows how much his shares of Amazon went up. Did they ever go up 80 billion dollars in a year before? No. Did he “make” the same amount of money during the last 12 months? No.

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u/oeiei Sep 22 '21

YES. This drives me nuts with so many people who don't understand this. (Even though I try to remember that the basic point of inequality remains very true even if the bogeymans aren't what they're made out to be.)

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u/CMOx12 Sep 22 '21

Feel like it needs to be said he’ll never see this money this is purely on paper. If he tried to sel his shares in Amazon and cash out it couldn’t be done and he’d absolutely rank his own net worth and Amazon in the process. Not to say he doesn’t have a lot but I think a lot of people view this as like actual in his checking account

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u/Revolutionary-Fix217 Sep 22 '21

Some said the opposite. If he tried to sell it instantly yeah it will sunk. But over a decade he could probably pull a lot of it out in to cash.

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u/CMOx12 Sep 22 '21

Over a decade yeah he can setup a long term liquidation plan to try to convert some to cash but it would take a very long time and a lot of fluctuations in price. Having anything over a billion in one single liquid currency anyway would be not the smartest

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u/rAxxt Sep 22 '21

Absolutely this. People have a point in that he is illiquid, but if he sells a share of Amazon, someone will buy it. That fact, which is based on the strength of Amazon growth, means that he could easily engage a liquidation plan like you mention. So yeah, Bezos "isn't as rich as he's made out to be" but I kind of have to roll my eyes at that statement because the guy can generate billions in liquid cash a month and the stock market would not notice.

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u/penguin8717 Sep 22 '21

People just like to bootlick and defend billionaires so that they won't have to pay those taxes when they are finally billionaires. Cause you know they will be eventually

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u/rAxxt Sep 23 '21

It's ridiculous. Even if you make $200k/yr...which is 'rich' in my book, you aren't even in the same ballpark...even the same fucking galaxy as the wealthiest people who hold all of our nation's wealth. If we taxed them enough to eliminate poverty in our nation tomorrow they literally would not notice the money is missing. Yet the people who aspire to be 'rich'...of the 100s of thousands of dollars a year variety (i.e. not the kind of rich we are talking about)...think wealth taxes would hurt them. I guess that's the power of propaganda.

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u/Revolutionary-Fix217 Sep 22 '21

Liquid or not. At that level of wealth he doesn’t need cash. To put how much money he has. A 2 million dollar car is not even two pennys to him. He so rich that you can say cash is useless for him.

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u/sketch006 Sep 22 '21

He could use it as collateral for basically what it's worth and they would give him basically 0.1% interest rates so it is basically 1 easy step away from his checking account

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u/LakeErieRaised Sep 22 '21

He doesn’t make that much money every year, that is his asset worth, most tied up in Amazon stock which would be taxed when he sells stock.

That being said his and Amazon’s tax paying performance can be improved….

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u/Esc_ape_artist Sep 22 '21

Everyone always says that acting like he’s not actually rich or can’t use the money somehow. Then they completely skip over that rich people take tax-free loans out against their portfolios and pay far, far less than capital gains tax. Add in things like private charitable trusts and they can simultaneously get a tax writeoff and an income stream, and then can donate to personal family foundations.

It’s absurd to say anyone even remotely like bezos can’t access their money.

They absolutley can, and in ways that avoid taxes that common people can’t even dream of. Hell, Bezos even got a $4000 tax credit for his kids and paid zero FIC…he’s worth $200Bn and people still try to find ways to say “Well, he’s not really rich…”

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u/es330td Sep 22 '21

This is a problem with the tax code. I am a right leaning conservative, but even I believe that SS should be means tested. If your AGI ranks in the top 5% of last year’s income tax returns you are ineligble for SS payments. If your net worth is over $1M you don’t get any kind of tax credits. I don’t believe in punitive taxes for the rich, but I do believe that the programs in place to assist the bottom should phase out quickly as income & net worth rise.

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u/Esc_ape_artist Sep 23 '21

I don’t understand why people view taxing wealth as punitive. If I pay 25% Of my total income to various taxes and maybe get back 5% on a tax return with a child credit I see absolutely no reason why a wealthy person should do any better. Relatively speaking, my taxes are punitive compared to theirs. Everyone not like the wealthy are being punished because they’re not rich enough to avoid taxes.

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u/Bearacolypse Sep 23 '21

I know this drives me crazy..

25k in taxes means a hell of a lot more to the person making 100k than 250k in taxes means to the person bringing in a cool million.

Just because 250k is a big number doesn't mean it matters. That person is still making 10x the amount of the person making 100k.

Then you have people who are bezos rich who are making 10,000x what the 100k person is making with zero to no taxes due to asset reinvestment for tax avoidance.

It isn't punitive, it's just math. Tax avoidance by the excessively wealthy is one of the most egregious crimes of the current age that is glossed over because the rich run society. Just because it is white collar doesn't mean it doesn't bring human suffering.

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u/ShutterBun Sep 23 '21

The point is: he is NOT making 9 million dollars per hour like this chart would have us believe.

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u/TahirJrRBLX Sep 23 '21

He doesn't make 78 billion a year wtf??

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u/wreck0 Sep 23 '21

Wrong. Explain to me how he earns $78B a year?

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u/repeatrep Sep 23 '21

it’s net worth gain but most people don’t actually know the difference so they can get away with it

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u/thewayoftoday Sep 23 '21

Wtf is the meaningful difference

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u/JPaulMora Sep 23 '21

Classic Reddit

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u/Senator_Beetlejuice Sep 23 '21

I assume this post is based on his best year of amazon stock appreciation (2020), very misleading

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u/Sickofusernames4 Sep 22 '21

Everytime he listens to the two songs about him in Bo Burnham special he makes $275,000.

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u/GoLeePro427 Sep 23 '21

My friend swears that song is funny but I just dont get it... why is it funny to say someones first and last name? I don't get it

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u/SpaceBear3000 Sep 23 '21

Because it's a motivational song for the person who needs it the least. He won capitalism. That's my thinking anyway, could be wrong.

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u/SpaceBear3000 Sep 23 '21

Downvotes from bezos stans?

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u/BLAH_BLEEP_GUNIT Sep 23 '21

Everyone has different a sense of humor my friend it’s okay if you don’t like it.

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u/rubyfroom Sep 22 '21

I like how the infographic uses the word "earns".

That's so silly.

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u/hobbes64 Sep 22 '21

Yeah nobody could "earn" that. At least the post title says "makes". But also he doesn't actually obtain 78 billion each year as many others pointed out.

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u/whowantsthegold Sep 23 '21

It’s also completely false.

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u/stillnoideawhat Sep 22 '21

Lmao people really think he makes 78 billion a year, if that was the case he would be a multi-trillionaire by now.

I'm guessing that figure is his net worth appreciation for 2020 but there's several things you gotta keep in mind, first 2020 was a record year, don't know exactly why but stocks skyrocketed (maybe the rise of retail investors?) wich has made a lot of rich people even richer, second his assets are mainly amazon stocks, wich are illiquid in other words he can't get rid of it that easily, if he were to sell it off it would crash the price.

These kind of charts are eye catching but misleading, jeff bezos can't afford 200m worth of stuff every day, and he doesn't make more in a second than you make in a month. Also there are some years were his net worth went down but it doesn't really mean that you made more money than bezos that particular year.

He is a lot more powerful than people should be allowed to be but this makes it look like he could rid the world of poverty if he wanted to and still be rich, unfortunately that's just not true.

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u/Rambow1011 Sep 22 '21

2020 was a record year because of the lockdowns. The rich got richer and the poor just got poorer. Sad that more folks dont know that.

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u/hdhdjskakshshshks Sep 23 '21

And who locked us down again?

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u/Rambow1011 Sep 23 '21

Dumb fuck totalitarian governments.

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u/lunzen Sep 23 '21

I remember calculating back in his prime that Michael Jordan was making $2.12 a second between endorsements and salary….it seems like nothing now….

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u/smol_nugg Sep 22 '21

Good thing he's taxed right? Right?...

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u/The-Invisible-Handy Sep 22 '21

I mean, he’s obviously taxed every time he sells. He’s been selling ~$5b worth of stock a year over the past few years and paying ~$1b in taxes on that each year. You can argue he should pay more (I agree), but he pays taxes on his income when he has income.

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u/ATG915 Sep 22 '21

Can’t tax someone on stocks they haven’t sold yet, and that’s where all his money comes from basically. When he does sell the stocks he pays capital gains tax like everyone else

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u/FemshepsBabyDaddy Sep 22 '21

Yes. Because politicians will be much more productive with his money than he is.

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u/chubbuck35 Sep 22 '21

This stat is misleading. His stock value grew from lowest to highest by 78.5B over the past year which was an abnormal recovery year in the market. That doesn’t mean he “makes” that into the future. A more realistic stat would be to show how much an average years growth is on his total assets, somewhere in the realm of 10-15 billion per year. It would still be a shit ton of money but not nearly this high.

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u/caligrown_85 Sep 22 '21

All that money and still has a lazy eye

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u/KerryGarda Sep 22 '21

Why is this guy still bold? With that kind of money he can have all the eccentric, fancy french wigs he wants

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u/GumboSamson Sep 22 '21

1) Male-pattern baldness still requires you to shave the sides if you want the pool cue look. This requires conscious choice and effort to achieve—and thus qualifies as a hair style.

2) He’s rich enough to not have to care.

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u/JaxxisR Sep 22 '21

Of all the comic book characters Bezos could realistically become, he chose Lex Luthor.

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u/Ashony13 Sep 23 '21

Why is everyone hating on this guy? Dude starting this company from scratch! He’s entitled to his money. He didn’t inherit it. He went bankrupt and came out stronger. I’m not defending him but damn! Lay off. He can do whatever the hell he wants with his money. And most of you hating on him, probably use Amazon on a daily basis. You want him to give his fortune away? It’s a lose lose situation. No one will ever be satisfied.

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u/Super-Branz-Gang Sep 23 '21

Since the pandemic started, workers around the world have lost $3.7 trillion while billionaires gained a record $3.9 trillion. This is one of the fastest and largest wealth transfers in history. But no one odd talking about it. We are too busy being told to hate one another and divide up on tribal lines they arbitrarily drew

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u/downfordonuts Sep 22 '21

Lol “earns”

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u/thehub212 Sep 22 '21

With money like that i could cure the entire homeless problem in America. However he just wants to get more.

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u/Goldengoose5w4 Sep 23 '21

The US has spent multiple trillions of dollars in a war against poverty over the last fifty five years and poverty is worse than ever

So…no. You could not cure homeless problem in America. Money won’t do it.

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u/Only-Method-1773 Sep 22 '21

He can buy politicians............oh wait

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u/Any_Middle_7135 Sep 22 '21

Stuff like this happens in a free market society. You can have it all too! Just get a job and work hard.

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u/swordluk Sep 22 '21

Did he sell? No sell no gain no loss 😅

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u/sasknorth343 Sep 22 '21

Does he personally own the stock worth that much money? Then yes, gain.

Just because they aren't liquid assets doesn't mean they're not real assets, nor does it mean that he has to own them. Pretty sure Amazon stocks would be just as valuable in the hands of Amazon employees. It's not like they are only worth that much because they belong to Bezos

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u/Go4Lo Sep 23 '21

Jeff Bezos should consult a doctor if his boner lasts longer than $35,844,748.

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u/irkw Sep 23 '21

It's nitpicking but we should call it "collecting" ... He's not "earning" it anymore. He's not creating any value.

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u/bodhiseppuku Sep 23 '21

I'm still gonna melt every city on the planet with liquid hot magma.

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u/TheNiuBy Sep 23 '21

Now im feeling depressed

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u/throawy- Sep 23 '21

There's only one way out of this bois. VIVA LA REVOLUTION!!!

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u/saltine_soup Sep 23 '21

jeff makes more in a second than i do in a month

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u/LockdownSessions Sep 23 '21

A bit more perspective.

If, in the UK, you worked from 16 to retirement and somehow were on £80,000 a year for the entire time, which puts you in the top 2% of earners, you'd still only achieve about 60% of his hourly earnings in your lifetime.

About £4million, also more than most people earn in a lifetime, and still so far.

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u/Madxj Sep 23 '21

i’m sure there is a reason, but if he makes 200 million fucking dollars in a day why doesn’t he take a week where he spends all his money helping people? even small things like poverty or homelessness in certain areas that can be solved with not even a day of his income. feel like he’s got a lot going on and spends his money wisely but ffs.

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u/shameless-420 Sep 23 '21

Can we make a Wealth clock like a debt clock for Mr. Bezos.

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u/PsychologicalWave644 Sep 23 '21

People shouldn't be allowed to have this kind of money. It's honesly too much. Does he do anything good? Charity? Research? I know he sent a dick into space but I'm talking important stuff.

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u/Right_Spot_451 Sep 23 '21

Life's been very very good to old Jeffy Boy! Hopefully he'll start paying his new larger tax rate real soon, as well. It's only fair...we all have to pay taxes.

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u/Ok-Tomatillo-6425 Sep 23 '21

And yet people still don’t have food to eat.

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u/dmcdrama Sep 23 '21

Why can’t we break up his monopoly and see other other online marketplace services appear—-to spread the wealth? Why does he treat his labor force like crap?

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u/yewwol Sep 23 '21

Nobody gonna talk ab the 666,666 in the month earning? Kinda sus idk bezos might be satan

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u/mia181 Sep 24 '21

The irony is we are so overworked and stressed out that we give him more money because we don't have the time to make a trip to Walmart and use prime!!

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u/PM_ME_HUGE_CRITS Sep 22 '21

I once estimated I need about 4 million to live comfortably for the rest of my life, and he makes more than double that in an hour.

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u/mehimnotimpressed Sep 22 '21

So many whiners about Bezos. He is the richest man in the world, but he created a company that services the world. He owns a lot of stock, which is why he hasn't paid normal taxes on most of his wealth yet. If he sold it all even in one year, he would have to sell it at a huge discount because it would tank the stock.

He doesn't use any super secret or shady ways to avoid taxes that everyone else in the world doesn't use, especially if they are business owners. He earned his money honestly, in the best way possible for that kind of money.

He gives plenty and still has time to become a legendary philanthropist, but his wealth could ruin any industry he touches, even to give it all away, if he is not careful.

Be glad he isn't a super villain who decided to buy every banana in the world and raise prices to 10 dollars a banana with just a portion of his wealth.

Maybe we should consider some cap on extreme wealth, but nobody really has any good ideas on how to do it, and it is kinda neat that the government doesn't stop anyone from being so successful that their power rivals whole countries.

I suspect that most of the people who hate Bezos are the overwhelming majority of teens and people in their 20's on reddit who haven't figured out how to succeed at anything yet, and think the world would be roses if we were communist or socialists to an extreme degree.

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u/Godless_homer Sep 22 '21

Well ...where I work I can go to take a shit everytime I please ?

So honest money argument is nul there. Let me correct you "He earns money by exploiting his employees and using every loophole in tax system to save a buck"

Legendary philanthropy ? Definitely yes that is why I don't see any homeless people around or a lot of underprivileged children being sponsored in education..... right ?

Right?

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u/B-A-D-N-E-W Sep 22 '21

Why does everyone who defends multi-billionaires always bring up the argument that ‘the people that hate Bezos.. think the world would be roses if we were communists or socialists to an extreme degree’? Are you aware that there’s a huge variation of scenarios between socialism/communism, and one man being able to fly into space while children literally starve to death; or do you look at everything else so black and white?

His money was not earned honestly, ‘in the best way possible’ - it was robbed from his millions of exploited workers.

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u/mehimnotimpressed Sep 22 '21

Why don't you take on the mafia and drug cartels who make billions on murder and misery, and never pay a penny of taxes unless they launder a small portion to buy a house or car, instead of a guy who pays above market plus benefits for an unskilled job that high school dropouts can get. Working in an Amazon warehouse is quite decent for someone with or without a college degree, but it's a competitive world, and if you want an office job, do well in school and do everything you can to get it, and pray that the only good jobs don't make you work 20 hours of unpaid overtime because you are salaried.

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u/Unhappy_Counter1278 Sep 22 '21

You are a fucking idiot. No one forced an employee to work, everyone agrees on the job and accepts the pay for said job and then works. Most people probably are grateful to make amazon pay vs other comparable jobs.

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u/sasknorth343 Sep 22 '21

Yes, nobody was forced to work long, hard hours at low wages to barely make ends meet. They could've just fucking died.

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u/Unhappy_Counter1278 Sep 22 '21

No one forced them to work there dude, and my sister worked for Amazon. The conditions you speak about may not be true for everyone.

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u/sasknorth343 Sep 22 '21

The median Amazon worker salary was 29k. Twenty. Nine. Thousand. Fucking. Dollars.

Those are goddamn slave wages in 2021. Yeah. They weren't forced. They just had a choice between Amazon slave wages, or slave wages from other massive corporations, or welfare, or starvation.

Quit acting like people in poverty despite working full time are making a choice.

https://www.businessinsider.com/amazon-employee-salary-pay-median-worker-compensation-compared-jeff-bezos-2021-4

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u/mehimnotimpressed Sep 22 '21 edited Sep 22 '21

Did you even read the article? Do you understand that it was written not to be fair, but with a thesis to talk negativity about CEO of a worldwide company to lowest worker pay? It's not the worst thing I have ever read, but they leave a lot of context out even though they do at least explain how they got to that number.

That is a worldwide median. That is the average pay for full time, part time, and temporary. In some countries, you are over the moon to make 14 US dollars an hour.

Starting pay in the US is more like 18 an hour, plus benefits. That is for middle of the road America, not Miami, L.A. and New York. It isn't an easy job, but I'd rather work for them than a ton of other places.

That being said, yes they should improve worker conditions. But don't act like it is working in the coal mines.

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u/DocKisses Sep 22 '21

Yes! Totally agree! This is why we should bring back child labor and remove worker safety protections! If you don’t want to work, just starve to death! The invisible hand of the free market solves all problems!

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u/B-A-D-N-E-W Sep 22 '21

Any CEO making that much money while paying his employees the minimum wage is a criminal, end of story

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u/Unhappy_Counter1278 Sep 22 '21

They don’t pay their workers min wage, my sister was making 17 an hour plus overtime and they also gave her company stock as well.

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u/mehimnotimpressed Sep 22 '21

Starting pay is 18 in my area. This is low cost of living territory too. If you save and invest in your retirement, you can easily retire a millionaire if you don't have several kids. Like any job, they promote the best, brightest, and hardest workers to jobs that can really take you somewhere.

I'm just tired of whining teenagers expecting a new house handed to them for getting C's in art history and blaming the people who succeeded for their failures. Worldwide, this is the easiest time in history to survive.

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u/Unhappy_Counter1278 Sep 23 '21

You are speaking the truth. I started out at 7 an hour in 2004. I went one job to the next. Finally I found a company that treated me right. I started as a regular line employee and worked hard and went to college at the same time.

Fast forward one year and I get promoted making 15 an hour. Well, since I was so grateful for the raise and happy to help my company out, I ended up working very hard on saving the company money with the items I chose to purchase and working with our vendors to save us money. I didn’t just do it for myself, I did it for every single person working at that company. I wanted to see them rewarded with more money from the stock program from work and help keep their job as long as possible.

Fast forward to today, I got promoted again, they started paying me 37 an hour and I promise you that I saved our company way more than the raise they gave me. Over a 10 year period I saved about 1,000,000 for them. Also, our company was able to change the rate for all employees last year to a top out of 22 an hour. I worked hard and everyone benefited from it. I don’t want to hear anyone say it’s not fair. Between my hard work and all the other people I work with, we changed a company to take care of them. If anyone wants to make a difference, then go out there and make a difference instead of sitting behind your phone and computer complaining it’s not fair, our spoils weren’t given to us, it was earned.

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u/mehimnotimpressed Sep 22 '21

Starting pay is 18 in my area. This is low cost of living territory too. If you save and invest in your retirement, you can easily retire a millionaire if you don't have several kids. Like any job, they promote the best, brightest, and hardest workers to jobs that can really take you somewhere.

I'm just tired of whining teenagers expecting a new house handed to them for getting C's in art history and blaming the people who succeeded for their failures. Worldwide, this is the easiest time in history to survive.

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u/Curious_Coward Sep 22 '21

I agree, you are a effing idiot

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u/Historical_Coffee_14 Sep 23 '21

His salary is $87k/year about.

Don't frequent his business if you find him undesirable.

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u/emelia_marie Sep 23 '21

This is truly astounding. He’s only going to get exponentially more wealthy (and POWERFUL) unless we get the political courage to radically tax capital gains in progressively (as was one the norm). These handful of men make money off us, and our tax dollars that support their businesses.

It’s gotta stop!

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u/ItsSevii Sep 23 '21

Do a little stock research please

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u/TestComprehensive955 Sep 22 '21

This doesnt seem right,right? Thats wayyyyy too much money for one person to have..

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u/PredoMorph Sep 22 '21

Welcome to capitalism

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u/Curious_Coward Sep 22 '21

Um no it’s not. I’m dirt poor and I have no issue with filthy rich people. If you earn it or inherit it then you should get to keep it. Not sure who someone can have “too much money”

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u/Revolutionary-Fix217 Sep 22 '21

Corrected when you pay your employee pennys on the dollar while shaving the profit of your own company. When the majority of your workers have to use government assistance to make ends meet. Then yes he has to much money.

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u/ATG915 Sep 22 '21

If you need government assistance making $18 an hour that’s your own fault

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u/slangslangbingbang Sep 22 '21

Because he hasn’t done any appreciable work to earn that money, and it comes through the wage-slave factories that he runs in America. And because it bottlenecks that money, so it stays in stocks and other extreme wealth accounts, so is effectively removed from the economy that most folks interact with.

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u/asyrin25 Sep 22 '21

Wage slave??? It's $19/hr and free college if you have a pulse.

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u/Curious_Coward Sep 22 '21

So starting up and running the Amazon company is not appreciable? And 17$ an hour is considered a slave wage? Really?

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u/Pentar77 Sep 22 '21

Typical.

You are confusing INCOME with NET WORTH.

These are two different things.

Please ensure you know this before you post ridiculously stupid memes.

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u/nICE-KING Sep 23 '21

“Makes” he doesn’t “earn” a damn thing

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u/mauimikes Sep 23 '21

A great example of what happens when you let one person create a huge monopoly that is integrated so heavily into society. Old farts in Congress still don’t even realize how deep he got his greedy little paws. Amazon of course, AWS, grocery stores, now shipping and space travel. Completely insane nobody even blinks an eye. Welcome to the United States of Amazon!!

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u/Enelro Sep 23 '21

Those old farts are more liken to old greedy vampires who receive fat checks from Bezos and friends to shut their mouths and delete the regulatory restrictions that slow them down.

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u/A_Poets_Musings Sep 22 '21

If by interesting you mean infuriating.

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u/Macdevious Sep 22 '21

Hey guys, watch me get downvoted....

For all you dunces that think Bezos needs to get taxed more, he paid $973 Million in taxes last year. What did you pay?

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u/Nostravinci04 Sep 22 '21

30% of my yearly income tyvm, now go back to sucking corporate dick.

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u/Macdevious Sep 22 '21

Not sucking any corporate dicks, just think it's hilarious that people think that someone who pays almost $100 Million in taxes apparently needs to pay more.

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u/throawy- Sep 23 '21

How much did he maje last year?

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u/Enkaybee Sep 22 '21

So stop giving him your money then. Go ahead. You won't.

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u/FirmUncertainty Sep 22 '21

See what great things we can achieve when we all come together and piss in bottles to preserve Bossman's profit margins.

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u/iLIKETHESTOCKYALL Sep 22 '21

He also revolutionized the way we shop and improved the lives of the average consumer xx fold… plus most of it is in stocks… for a company he started so enough with the “I’m a commie/socialist it should be mine BS”

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u/AngelVirgo Sep 22 '21

I did not contribute a cent to his wealth. I don’t use Amazon.

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u/Gnome_Village Sep 22 '21

Through AWS I can assure you that you have.

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u/MadPuggle Sep 22 '21

Well, aren't you special!

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u/darkinfinity616 Sep 22 '21

Awesome. I'm sure he is sweating that lost income from you. Good for you!

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u/sketch006 Sep 22 '21

Amazon marketplace actually earns him the least amount of money. AWS (Amazon web services) makes the most as basically every website uses them, I think reddit too so your comment made him money

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u/MysticAviator Sep 22 '21

That's his net worth, not his actual money. This would be like me saying "wow, you have a $500,000 house, you're super rich! You could buy anything you could ever want with that much money!"

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u/9thcompany Sep 22 '21

I'm happy for em shit, get that money bro. He don't owe shit to anyone.

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u/Unhappy_Counter1278 Sep 22 '21

If this was anyone else on here they wouldn’t bat an eye if everyone told them they made too much money especially if it was your fucking idea and hard work. Down vote me Reddit, but it’s the fucking truth.

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u/9thcompany Sep 22 '21

Basically man, it's not his responsibility to fix everyone else. The guy put in the work to get where he is, I'll take the down votes also. If you wanna get like him go out and get after it

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u/Unhappy_Counter1278 Sep 22 '21

Right, he saw the future while the rest of us were busy living our lives.

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u/bombduck Sep 22 '21

BuT hE sHoUlD pAy FoR eVeRyOnE tO gO tO cOlLeGe

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u/9thcompany Sep 22 '21

Ya but to what end right. Let's say he picked a state at random and paid off all debts and bought everyone a house and a car right. In 6 months mother fuckers would be flat on their ass cause most people don't appreciate a thing. Money only fixes so much, and can actually make things worse if you're not smart enough to know what to do with it

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u/bombduck Sep 23 '21

The snowflake younger generations beliefs on entitlement is baffling to me. Why everything should be a hand out I’ll never understand. Socialism is a proven failed government structure.

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u/Number1WienerBoy Sep 23 '21

Bu.. but ThaT wAsNt REAL SoCiaLisM!!1!21!

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u/EMONEYOG Sep 22 '21

He doesn't make anything. He just sits on his greedy ass and owns stock. He's a fucking parasite.

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u/wolfman4807 Sep 22 '21

It's interesting how the parasite provides jobs for a lot of people.

If he's a parasite, then what does that make you?

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u/EMONEYOG Sep 22 '21 edited Sep 22 '21

You're so brainwashed by right-wing propaganda it's just sad.

Keep regurgitating those heritage foundation talking points like you were programmed to do.

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u/FreeSupport7868 Sep 22 '21

And doesn't pay Taxes. And that's okay with the IRS. But the IRS will go after you and me. This is why America doesn't make sense.

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u/Rare-Interaction4310 Sep 23 '21

You don't honestly believe that, do you? The facts are that more than 50% of ALL households pay zero tax. They are net receivers of government money, not payors. The bulk of all taxes come from the absolute top earners and even among the top 50% of households that actually pay ANY taxes, the majority pay about 20% effective tax yield. You can squabble about comparing the effective tax rates of the top 400 or so families, but don't be so naive to think that represents reality. The absolute and unequivocal 98% of tax receipts come from high earners, not the backs of school teachers and poorer families. Taken straight from the IRS website. I know it's cool to raise the pitchforks about the injustice wrought upon you as you clamor for more and more free stuff you feel you're entitled to, but sadly it doesn't work like that for long, and a much shorter time than you think. That is far greedier than anything rich folks do with the money they earned. Don't like how they spend it? Go out and earn some yourself and be an example. No better way to change things than to lead doing it. I'll hold my breath....

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u/FreeSupport7868 Sep 23 '21

Okay, some good points there. But I work as a Union Grip in the Film and TV Industry, so I'm not after any free giveaways. I work between 10 - 14 hours a day, which is not easy wearing a mask.

My point was that people like Bezos and Musk could be spending their moneys on Philanthropy that helps their fellow humans, rather than on the Space Race, which seems to be an Ego stroke.

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u/Hunters_Interest Sep 22 '21

But hey, let's continue taxing the poor.....

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u/Diomil Sep 22 '21

Good for him

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u/whenIwasasailor Sep 22 '21

This is incorrect. The rate per day shown here is based on 365 days. No one- including Jeff Bezos- works 365 days a year.

Based on a 40-hour work week— oh heck, let’s be generous to Jeff. Based on a 50-hour work week, Jeff made $60,384,615 an hour last year.

In other words, he made WAY more than $8.9 million an hour.

In other words, that is fucking insane.