Amazon.com Inc. Founder and former CEO Jeff Bezos is a figure synonymous with immense wealth and success. As of November, he ranks as the third-richest person in the world. Over the past decade, his net worth has skyrocketed by $125.6 billion. This substantial increase breaks down to $12.56 billion per year, $34.4 million per day, $1.43 million per hour and about $23,833 per minute.
Bezos primarily derives his income from his substantial 9.73% ownership stake in Amazon, valued at $88.43 billion. His financial endeavors encompass more than just his Amazon holdings. He shifted his focus to Blue Origin, a private space exploration company, after relinquishing his CEO position at Amazon in 2021. His investment in Blue Origin appears to be yielding positive results, with seat prices for its maiden flight in 2021 ranging from $28 million to as high as $30 million for some passengers. In a 2020 interview, Blue Origin CEO Bob Smith revealed that the company had transformed from generating virtually no revenue to achieving annual revenue in the hundreds of millions of dollars.
Don’t Miss:
In addition, Bezos has a diverse investment portfolio managed through Bezos Expeditions. Noteworthy investments include $1.7 billion in Rivian Automotive Inc., $190 million in Everfi, $116 million in Unity Biotechnology, $112 million in Airbnb Inc., $37 million in Uber Technologies Inc. and $5 million in Business Insider. However, not all of his investments have proven to be lucrative, as evidenced by Rivian’s recent $1.72 billion loss attributed to supply chain challenges.
To illustrate Bezos’s earning power, consider the cost of luxury items. A Rolex watch costs between $7,000 and $12,000 on average. This means that every minute, Bezos brings in enough money to purchase nearly two high-end Rolex watches.
Trending: You can now partially own mansions with $99.
His wealth is not only evident in his earnings but also in his spending. He recently expanded his real estate holdings with a $79 million mansion in South Florida’s Indian Creek, an area known for its affluent residents. This follows his acquisition of the neighboring $68 million property in August. According to the New York Post, Bezos’ real estate portfolio is valued at $500 million.
Bezos exemplifies the success that can come from investing in startups. With platforms like StartEngine, investing in startups is now more accessible, allowing anyone to start with just a few hundred dollars. This opens the door for more people to potentially experience the high rewards that come with investing in the next significant innovation.
Bezos announced his intention to donate the majority of his $162 billion fortune in his lifetime. In an interview with CNN, he said he aims to focus his philanthropic efforts mainly on combating climate change and supporting initiatives that bring people together amid growing social and political divides.
While Bezos did not provide detailed plans on how he will distribute his wealth, this announcement is significant as it’s the first time he has committed to giving away most of his fortune. The move comes amid criticism for not joining the Giving Pledge, where many of the world’s wealthiest people have pledged to donate a majority of their wealth to charitable causes.
Read Next:
“ACTIVE INVESTORS’ SECRET WEAPON” Supercharge Your Stock Market Game with the #1 “news & everything else” trading tool: Benzinga Pro – Click here to start Your 14-Day Trial Now!
This article Jeff Bezos Makes $23,833.34 Each Minute — Enough To Buy Multiple Rolex Watches Every 60 Seconds originally appeared on Benzinga.com
.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Credit: Source link