Introduction
Jeff Bezos, the CEO of Amazon, is one of the richest individuals on the planet. In August 2020, the media reported that Bezos had become the world’s first centibillionaire– meaning he was worth over $100 billion.
In this article, we’ll break down just how much money that is by exploring how much money Jeff Bezos makes per minute. We’ll also put his earnings into context by comparing them to the average American’s income, examining the factors that contribute to his wealth, and discussing the ethics of billionaire wealth.
A Breakdown of Bezos’s Earnings per Minute
According to Forbes’ real-time billionaire tracker, Bezos is currently worth an estimated $185 billion. If we divide that figure by the number of minutes in a year, we get the following:
$185 billion รท (365 days x 24 hours x 60 minutes) = $251,010 per minute
That’s right: Jeff Bezos makes over $250,000 per minute. To put it another way, in the time it takes the average person to check their email, Jeff Bezos has already earned more than most people make in a year.
It’s difficult to fathom just how much money this is. For a bit of perspective, the minimum wage in the United States (as of 2020) is $7.25 per hour, or about $0.12 per minute. This means that Bezos makes more money in a single minute than the average minimum wage worker earns in 2 days.
Putting Bezos’s Earnings into Context
It’s not just the sheer amount of money Jeff Bezos makes that is staggering– it’s also how lopsided the distribution of wealth has become. According to a study by the Institute for Policy Studies, the median Amazon worker made just $28,446 in 2019. That means Bezos earns nearly 9,000 times as much money per year as the median Amazon worker.
Of course, it’s not fair to compare Bezos’s earnings to those of the average American worker. After all, Bezos is a business owner and entrepreneur who has created one of the most successful companies in the world. Nonetheless, the wealth gap between the ultra-rich and everyone else has been growing wider in recent decades.
Some argue that this trend is problematic, as it contributes to income inequality and social unrest. Others contend that Bezos has earned his money through hard work and innovation, and that such wealth disparities are simply a natural byproduct of capitalism.
What Contributes to Bezos’s Massive Income?
There are several factors that contribute to Jeff Bezos’s massive wealth beyond just his salary at Amazon. For one thing, Amazon itself is an incredibly lucrative company. In 2019, Amazon reported $280.5 billion in revenue and $11.6 billion in net income.
But Amazon isn’t the only source of Bezos’s wealth. Bezos is also an active investor and owns significant stakes in several other companies, such as the Washington Post and Blue Origin (a space exploration company). According to Forbes, Bezos’s other investments are worth an estimated $18.5 billion.
Of course, it’s worth noting that not all of Bezos’s income is guaranteed. As an investor, his net worth is affected by fluctuations in the stock market and the performance of the companies he invests in. Nonetheless, it’s clear that he has a diverse range of income sources and is not solely reliant on his salary at Amazon.
The Ethics of Billionaire Wealth
As we’ve seen, the topic of billionaire wealth is a contentious one. Some argue that people like Jeff Bezos have an obligation to use their wealth to benefit society, such as by donating large sums to charitable organizations or supporting social causes. Others believe that billionaires have earned their money fairly, and that it’s not their responsibility to solve society’s problems.
There are valid points on both sides of this debate. On the one hand, it’s hard to justify the extreme wealth disparities that exist in our society, especially when so many people are struggling to make ends meet. On the other hand, it’s important to recognize the value that innovation and entrepreneurship bring to our economy and society as a whole.
Personally, I believe that billionaires like Jeff Bezos have a moral obligation to use their wealth for the greater good. At the very least, they should be paying their fair share of taxes and using their influence to advocate for policies that benefit society as a whole. However, I also think that it’s important to acknowledge the complexity of this issue and to avoid demonizing successful individuals for their wealth.
Visualizing Bezos’s Wealth
It’s one thing to hear about how much money Jeff Bezos makes per minute– it’s another thing to actually visualize his wealth. To help put this figure into perspective, let’s take a look at some comparisons:
- Bezos makes enough money to buy a new Tesla Model S (starting price: $69,420) every 16 seconds.
- Bezos makes enough money to buy the median-priced home in San Francisco ($1.4 million) every 5 minutes and 35 seconds.
- Bezos makes enough money to donate $1,000 to charity every 23 seconds and still have more money left over than the average American earns in a year.
These comparisons are admittedly a bit tongue-in-cheek, but they help illustrate just how much money Jeff Bezos really has. It’s a truly staggering amount, and one that is difficult to wrap one’s head around.
Conclusion
In this article, we’ve explored the question of how much money Jeff Bezos makes per minute. We’ve seen that the figure is truly staggering– over $250,000 per minute, to be exact. We’ve put his earnings into context by comparing them to the average American’s income, examining the factors that contribute to his wealth, and discussing the ethics of billionaire wealth. We’ve also visualized Bezos’s wealth to help readers better understand just how much money he has.
Ultimately, the topic of billionaire wealth is a complex and contentious one. It’s clear that wealth inequality is a growing problem in our society, and that extreme concentrations of wealth can be harmful to social cohesion and economic stability. At the same time, it’s important to recognize the value of innovation and entrepreneurship, and to avoid demonizing successful individuals simply for their wealth.
