Jeff Bezos steps down as Amazon CEO today with a $203 billion fortune

midian182

Posts: 7,081   +62
Staff member
What just happened? Jeff Bezos, the world's richest man and alleged supervillain, steps down as CEO of Amazon today, exactly 27 years after he founded it. Fifty-seven-year-old Bezos shouldn't struggle to afford various pastimes now his involvement with the company has lessened—he has an estimated fortune of $203 billion.

It was back in February when Bezos announced he would be stepping down as CEO of Amazon in the third quarter of 2021, becoming the Executive Chair of the company's Board of Directors as Andy Jassy takes on the chief executive role.

Bezos is retiring as CEO to dedicate more time to his other ventures, including the Bezos Earth Fund, The Washington Post, the Amazon Day 1 Fund, and his Blue Origin space company.

Bezos received a $81,840 salary and $1.6 million in other compensation from Amazon last year, with most of his wealth coming from Amazon holdings and other assets. His fortune is 762,012 times the median net worth of an American at 65, which is the average retirement age in the US. The median net worth of people in that age bracket is $266,400, according to Business Insider.

As with most tech companies, Amazon has seen its bottom line and share price rocket during the pandemic, pushing Bezos' fortune even higher. The company that he started in his garage almost three decades ago has a market cap of $1.7 trillion and made $386 billion in revenue last year.

He may be praised for his business acumen, but Bezos isn't the most loved billionaire. He will be traveling to space for Blue Origin's first space tourism trip on July 20 with his brother Mark and other passengers, leading to a petition demanding he not be allowed back to Earth. The Change.org site is currently just under 2,000 signatures short of its 150,000 target.

Something else that won't have helped endear Bezos to the public is a recent report that shows he paid no tax in 2007 and 2011 and even claimed and received a $4,000 tax credit for his children. There was also his divorce from wife MacKenzie, which had some sordid details, and Amazon's reputation for not being the best place to work.

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dragosmp

Posts: 31   +34
Blue Origin seems to be needing any help it can get. Since 2015 that company tranformed from a new-space company and a SpaceX competitor, into a pork chasing old-space dinosaur. That is unacceptable for sure, I'd love JB to put its considerable talent in coming up with a decent space transport company.
 

tellmewhy

Posts: 102   +50
He doesn’t have the money, the money have him.

He spend time to manage it and he can’t consume it because it’s size is out of the human scale.
 

captaincranky

Posts: 17,205   +5,959
At least I have more hair than he does
His hair loss may actually be a blessing in disguise, since his, "mid life crisis", is long overdue. As you may or may not know, the purchase of a souped up convertible is often symptomatic of a certain amount of loss of sexual potency that men often experience as they approach, the big six-oh. In Bezos case, at least he won't have to comb his hair at every red light.. ;) (y) (Y)

He also has many options for a multiplicity of prostate restoring snake oils which are available in abundance directly from his "alma mater". No doubt he's at the very least, still a, "Prime" member, which would definitely come in handy, in case he should succumb to panic or anxiety attack while perhaps having a bit of difficulty at a urinal.

It should be, "a truth held self evident", that if you can afford a Ferrari rag top, there's absolutely no need to have a "rug" on your top.
 
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Lionvibez

Posts: 2,403   +1,999
" a petition demanding he not be allowed back to Earth."

lmao that killed me this morning thanks for the laugh.
 

whateversa

Posts: 52   +62
His hair loss may actually be a blessing in disguise, since his, "mid life crisis", is long overdue. As you may or may not know, the purchase of a souped up convertible is often symptomatic of a certain amount of loss of sexual potency that men often experience as they approach, the big six-oh. In Bezos case, at least he won't have to comb his hair at every red light.. ;) (y) (Y)

He also has many options for a multiplicity of prostate restoring snake oils which are available in abundance directly from his "alma mater". No doubt he's at the very least, still a, "Prime" member, which would definitely come in handy, in case he should succumb to panic or anxiety attack while perhaps having a bit of difficulty at a urinal.

It should be, "a truth held self evident", that if you can afford a Ferrari rag top, there's absolutely no need to have a "rug" on your top.

In case you are not aware, probably every second man on this planet wants a sports car before they even get their first job. Perhaps the difference now is that he has the time to enjoy it. If I had lots of cash, I would certainly have a few cars... I would not like the attention it might bring, but enjoying a car that many spent their careers designing and building is something a person can appreciate and enjoy. A smooth cruise on an open road.
 

Nobina

Posts: 3,291   +3,369
He has a lot of money but he probably has all the material things he wants already.
 

Avro Arrow

Posts: 1,727   +2,044
TechSpot Elite
This is why the economy is suffering so badly. The economy is kind of like a machine that produces oil. Like all machines, it needs oil to operate and if you start taking more and more of the oil away (like taking wealth out of the economy) in huge amounts like this, the machine will eventually grind to a halt and won't make any more oil for itself or for anyone else.

When someone has obscene amounts of wealth hoarded away like Lex Bezos does, they have to literally decide each and every morning to not end world hunger, homelessness or both. Then they buy a $500 billion "yacht within a yacht". Opulence at that level is not only obscene, it's economically harmful.

Who says that Billionaires aren't unfeeling psychopaths? I sure as hell don't.
 

TheBigFatClown

Posts: 967   +389
This is why the economy is suffering so badly. The economy is kind of like a machine that produces oil. Like all machines, it needs oil to operate and if you start taking more and more of the oil away (like taking wealth out of the economy) in huge amounts like this, the machine will eventually grind to a halt and won't make any more oil for itself or for anyone else.

When someone has obscene amounts of wealth hoarded away like Lex Bezos does, they have to literally decide each and every morning to not end world hunger, homelessness or both. Then they buy a $500 billion "yacht within a yacht". Opulence at that level is not only obscene, it's economically harmful.

Who says that Billionaires aren't unfeeling psychopaths? I sure as hell don't.

It's an interesting viewpoint. Spending $500 million on a Yacht employs and feeds all the people and industries that built the yacht.

I'm not real educated on world hunger issues. I'm not real educated on what Bezos has done for charity either but I would guess it is something.

Bill Gates is the billionaire that scares me. He wants to get us all vaccinated. I've never seen anybody so hell bent on getting every person on the planet injected with EUA vaccines as much as these people. They must REALLY care about humanity with a love that goes deeper than any ocean. Or not......

The link below suggests he gave 100 million to feed hungry people.
Link of donations
 
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kiwigraeme

Posts: 481   +368
A net worth of $266 400 for an American at 65 years old - least the article doesn't quote the quite useless average. Most of that is tied up in property - the median 401k is $64 500 - they will have other funds as well - Fix your roof , get a new car , pay some medical - it's not a lot .
As someone commented on one other comments - NZ is a Nanny state - so you can have none and still get a Superannuation and accommodation - free medical , free local transit - Even if you never worked a day in your life - or you left NZ after college/uni at say 20 and returned at 65 - can still live in say Thailand for just under 6 months to still get it . So if I was an American I would be trying for at least $200 000 disposable income ,
Checked NZ net worth at 65 - it is high - but stupidly high house prices - but hey reverse mortgage- tuck luck kids- and there are say 20% with nothing much .
As stated below it's much more relaxing to have 200 Million than 200 Billion - unless you really want to change the world
 

Bl00dyMinded

Posts: 333   +462
Bezos doesn't have a 200B fortune. He owns 200B worth of Amazon stock, which makes sense because he started the company. It's not as if he was paid 200B.
Finally, someone know what they are talking about. People think this man has $200B sitting in his bank account. Same as every other rich person, thats why they don't pay taxes on how much fortune they have. But pay on how much they were paid or gained.
 

Mr Majestyk

Posts: 824   +730
I signed a petition for this clown never to come back form space. Get all the billionaire's in an air-lock and jettison them in one go. We immediately fix 80% of the world's problems.
 

p51d007

Posts: 2,832   +2,181
His hair loss may actually be a blessing in disguise, since his, "mid life crisis", is long overdue. As you may or may not know, the purchase of a souped up convertible is often symptomatic of a certain amount of loss of sexual potency that men often experience as they approach, the big six-oh. In Bezos case, at least he won't have to comb his hair at every red light.. ;) (y) (Y)

He also has many options for a multiplicity of prostate restoring snake oils which are available in abundance directly from his "alma mater". No doubt he's at the very least, still a, "Prime" member, which would definitely come in handy, in case he should succumb to panic or anxiety attack while perhaps having a bit of difficulty at a urinal.

It should be, "a truth held self evident", that if you can afford a Ferrari rag top, there's absolutely no need to have a "rug" on your top.


I've never had to "want" a sports car. I've been driving them for the past 40 years. I hate passenger cars, vans, station wagons, SUV's... I've driven a "sports" car almost all my life
because that is what I prefer.
 

rhdevries

Posts: 6   +3
I wonder: Why do I feel repugnance for this guy? He is just repellent.
Not sure why you have that feeling but its likely to be a feeling of jealousy or envy. Totally natural with many people, though. It's part of evolution to make us feel that way in order to spur us on.
 

rhdevries

Posts: 6   +3
This is why the economy is suffering so badly. The economy is kind of like a machine that produces oil. Like all machines, it needs oil to operate and if you start taking more and more of the oil away (like taking wealth out of the economy) in huge amounts like this, the machine will eventually grind to a halt and won't make any more oil for itself or for anyone else.

When someone has obscene amounts of wealth hoarded away like Lex Bezos does, they have to literally decide each and every morning to not end world hunger, homelessness or both. Then they buy a $500 billion "yacht within a yacht". Opulence at that level is not only obscene, it's economically harmful.

Who says that Billionaires aren't unfeeling psychopaths? I sure as hell don't.
Not sure what you're on about, he doesn't have wealth 'hoarded away'. He owns a part of Amazon, which creates economic value. If he sold all that stock it would just mean someone else would buy it with money and the net effect would be the same.
 

Bobbydpue

Posts: 220   +145
I wonder: Why do I feel repugnance for this guy? He is just repellent.
You've never met him or had any kind of an exchange of communications with him, so how can you judge him based on the media who's purpose is to make money and creating outrage is the easiest way to make more money?
 

Bobbydpue

Posts: 220   +145
I signed a petition for this clown never to come back form space. Get all the billionaire's in an air-lock and jettison them in one go. We immediately fix 80% of the world's problems.
I don't see how that would fix anything. Their heirs or the government would get all of their money, their businesses would likely close, and tens or hundreds of thousands of people would lose their jobs. I don't see a single problem fixed by killing any person who's successful. Where is the line between being okay and needing to die?

When I looked up "how much money has Jeff Bezos given to charity" this is what I found for 2020:

"Amazon founder Jeff Bezos was the top American philanthropist in 2020, giving away $10.1 billion to non-profit efforts associated with climate change and education,"

I don't get people's hate for someone they don't know. I'm not going to let the media tell me what my opinion is. The media makes a lot more money delivering bad new or creating drama than facts or anything good.

Here is a portion of a story CNN ran about Jeff Bezos when I did a search for "Jeff Bezos is a terrible person":

"According to the World Bank, 689 million people are living in extreme poverty, which is defined as less than $1.90 per day. Half of them are children. The coronavirus pandemic has demolished two decades of progress, pushing an additional 120 million people into extreme poverty -- a number that is only expected to rise by the end of the year.
With an estimated net worth of $187 billion, there's a whole lot Bezos could do to change that -- especially given the time he'll now have on his hands since he's stepping down from his role as Amazon's chief executive. "

CNN is pointing their finger at a rich person saying their money should be used to help the poor while the US government spent $6.55 Trillion in 2020 and somehow forgot about the poor? I'm sure it was an accident just like every year for generations. Obama, Clinton, Bush, Bush and Trump did nothing to improve education in America and neither will Biden, but lets point our finger at someone who's not charged with creating and modifying policy to improve America. If you are upset Bezos didn't pay taxes you should be angry at the rich people who wrote the tax laws and not the people who follow them for their benefit.
 

yeeeeman

Posts: 421   +371
Well, thanks to all the *****s that pay subscription on netflix, all the *****s that buy products only from amazon, all the....this dude has wallops of money. Nice