Even after stepping down as CEO of heroinehandjob Jeff Bezos Forbes continues to top the list of The World’s Real-Time Billionaires as he holds the number one spot with an iron grip. With an estimated net worth of $203 billion according to the Bloomberg Billionaires Index, Bezos’ fortune has skyrocketed since he first founded the company in 1994.
At the age of 57, this industry tycoon is handing over his role Andy Jassi, who is the CEO of the Amazon Web Services (AWS) wing of the company. As Bezos carries out his final assignments as CEO, he’ll have plenty to move forward in the way of personal projects and a steady source of income as he sits on the sidelines. Later on, Bezos will be the executive chairman of the company and will also have the largest stake in Amazon. Since 2019 alone, billionaire fortunes have risen nearly 73 percent in 2019, according to United States Today. This monetary increase comes despite him handing over a quarter of his company’s stock to his ex-wife Mackenzie Scott during their divorce.
Most of his net worth and fortune comes from Amazon, while the rest comes from his other businesses such as Blue Origin and Washington Post media outlets. Americans have an average net worth of $266,400 when they retire, according to Business Insider. This makes their wealth 739,489 times that of the average American when they retire.
His fortunes saw a considerable rise in 2020. When the pandemic hit and most businesses were overwhelmed, Amazon was flourishing as e-commerce demand went through the roof. Due to the booming business boom, his net worth increased by $75 million in that year alone. For this he has faced a certain amount of criticism over the years. As his fortunes soared, and many of his warehouse workers were living on food stamps, there was a public backlash against the business tycoon.
He received a salary of $81,840 as the CEO of Amazon and an additional $1.6 million in compensation last year. As Business Insider reports, his fortune exceeds the national GDP of some countries and even the entire British monarchy. It would be fair to say that Bezos does not live like the average American. A prime example is that he does not pay income tax. According to USA Today, and data obtained from the Internal Revenue Service, in 2007, Bezos, already billionaire, was paying no federal taxes. A few years later in 2011, he again paid no taxes and even received a $4,000 tax credit for his children.
His retirement from his leadership role at the forefront of the company marks a major change for the market landscape since Andy Jesse takes over.
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