Amazon CEO Jeff Bezos earns $ 13 billion in one day during pandemic

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Illustration from article titled Jeff Bezos Earns $ 13 Billion In One Day During Pandemic

Photo: Eric Baradat / AFP (Getty Images)

The United States hangs on the precipice of economic collapse, with about 25 million Americans to be kicked out of uninsured against the protracted coronavirus pandemic later this week and the white house mulling tax cuts and fuck you replacing. But every cloud has an obscene understudy: the richest man in the world and macabre Amazon overlord Jeff Bezos is doing great!

According to a Estimation Bloomberg, Jeff Bezos saw his estimated net wealth rise by $ 13 billion to $ 189.3 billion on Monday. It was the largest single-day increase in the news agency’s eight-year billionaire index in history. Much of that increase was simply the reversal of a sudden drop in shares of tech companies last week (Microsoft increased by 4.3 percent Monday, while Tesla rose 9.5%). However, Amazon’s stock is up about 73% since the start of the year – fueled by increased online shopping and demand for cloud services, i.e. the pandemic – and Bezos’ personal treasury has jumped $ 74.4 billion since the start of 2020. During this same period of Amazon horrible treatment of its underpaid and overburdened armies of warehouse workers and contractors has largely not changed and in some ways allertuer pire, “Bonus” payments to staff notwithstanding.

A study released in april of the Institute for Policy Studies revealed that 34 of the country’s 170 richest billionaires “saw their wealth increase by tens of millions of dollars” during the pandemic, including Bezos, Tesla / SpaceX CEO Elon Musk, the Zoom founder Eric Yuan, former Microsoft CEO Steve Ballmer and Silicon Valley real estate mogul John Albert Sobrato. The report notes that “Jeff Bezos’ surge in wealth is unprecedented in modern financial history and varies widely from day to day,” the $ 25 billion Bezos accumulated between January 1 and April 15 far exceeding the GDP of Honduras ($ 23.9 billion in 2018). .

The report also warned that the country’s billionaires would likely emerge from the pandemic as if nothing had happened “or even witness a sharp increase”, in part because their overall tax burden as a percentage of their wealth dropped by 79% from 1980 to 2018.

(While the tech moguls did well, study co-author Chuck Collins told Gizmodo that the billionaire class would likely lose money as a whole during the pandemic. He added that he was almost certain they would “rebound a lot faster than everyone else. —And the stock market as a whole, thanks to the big winners.”)

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Bloomberg noted that Bezos’ ex-wife Mackenzie Bezos, who separate from Amazon CEO last year amid a labyrinthine cock spike scandal, saw his net wealth rise by about $ 4.6 billion on Monday. This places her as the 13th richest person in the world and his second richest wife, just behind L’Oreal heiress Françoise Bettencourt Meyers. She, unlike her former husband, signed the Make a donation to donate most of his wealth over the course of his life.

Musk posted equally depraved gains on Tesla stock skyrocket this year, with the Bloomberg Billionaire Index showing it’s up from $ 46.9 billion to $ 74.5 billion in total since the start of the year. Facebook CEO Mark Zuckerberg rose $ 14.8 billion to $ 93.1 billion, while Ballmer rose $ 18 billion to $ 76.1 billion.

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