Knowledge | Posted by Si Thu Aung
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.
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.
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 amusement 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.
Ref: 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 (finance)
Photo Credit: finance
