Jeff Bezos now richest man in the world (allegedly)

Yeah so all the crappy wages he is paying his employees has finally payed off!

Jeff Bezos cheapest bastard on the planet

According to Forbes and Bloomberg, the Amazon CEO had a net worth of over $89 billion as of the close of markets Wednesday, while Bill Gates had a net worth of just over $90 billion.

Well, this is amazing. His employees can't afford to pay rent and his warehouse (like around where I live) have notoriously crappy conditions and bad wages but that's cool!

Woop woop go Jeff Bezos!

originally posted by: toysforadults
Yeah so all the crappy wages he is paying his employees has finally payed off!

Jeff Bezos cheapest bastard on the planet

According to Forbes and Bloomberg, the Amazon CEO had a net worth of over $89 billion as of the close of markets Wednesday, while Bill Gates had a net worth of just over $90 billion.

Well, this is amazing. His employees can't afford to pay rent and his warehouse (like around where I live) have notoriously crappy conditions and bad wages but that's cool!

Woop woop go Jeff Bezos!

Don't be jealous...

a reply to: Edumakated

I'm not jealous I don't even want that much money, I would get more fulfillment out of rewarding my employees, a few million would be fine with me.

I mean 800 million in a day?

Come on my entire family could retire off that and give everyone they know a million dollars and be fine.

No , The richest man in the World are Krupp and Medicci , their wealth is in trilions

www.bibliotecapleyades.net...

His employee's cannot afford rent because of 17 years now of super easy lending and super low lending rates allowing for rampant speculation in Real Estate (and every other market segment) to heights unsustainable in the long run. You can also thank the Chinese/Other foreign type investors that come in and purchase, in cash, above asking price, much of the new development you see being built..before it's even finished! Why? It does not matter that they get rented out, what matters are the loans they get to take out on the buildings as collateral and keep doing it over and over again. All brought to you by the US Government. Clinton, Bush, Obama, and Trump.

99 billion....lol, please. It would not be enough to buy 1/4 of the Real Estate in Seattle.

originally posted by: toysforadults
a reply to: Edumakated

I'm not jealous I don't even want that much money, I would get more fulfillment out of rewarding my employees, a few million would be fine with me.

I mean 800 million in a day?

Come on my entire family could retire off that and give everyone they know a million dollars and be fine.

There is a difference between wealth and income...

Income is how much you make in a given year.

Wealth is how much you have put away.

Bezos is wealthy because he founded the company. He still owns about 79 million shares. A single share of Amazon is trading just over $1000 right now which is why he is worth almost $80 billion.

For example, my boss started the company. I figure he probably pays himself $500k/yr. However, I'm sure if he were to sell the company, he'd probably get $20 million or so. So he is worth $20 million on paper, but he doesn't actually make $20 million (at least not until he sells the company).

Amazon is a massive company, so the figures are mind boggling. Amazon employs almost 350,000 people worldwide. When he started the company in 1994, it was just making $20k/week selling books before most people even knew what the internet was... it was also LOSING MONEY. Bezos was already making good money in investment banking. He risked it all and started the company. He has created countless other millionaires in the process as well as providing 350,000 jobs.

You can't hate on the guy's success. Risk all your savings and start your own company. If it is successful you can give all your money away to your friends as you please...

originally posted by: xavi1000
No , The richest man in the World are Krupp and Medicci , their wealth is in trilions

www.bibliotecapleyades.net...

Be nice if that was real huh

a reply to: Edumakated

The other thing people forget is that he cannot just sell off a large portion of his shares without tanking the rest of the company. His wealth, while real, is not liquid.

a reply to: AugustusMasonicus

Not liquid huh

What he can not get financed

a reply to: toysforadults

They're hiring by me and starting pay is $24.00 those wages aren't that bad. Maybe if you live in Malibu they might be.

originally posted by: toysforadults
Not liquid huh

What he can not get financed

That's not liquidity.

Bezos is a paper billionaire Gates has the cash a reply to: toysforadults

a reply to: toysforadults

Bezos is a little bitch.

I have more stars and flags than he does.

originally posted by: toysforadults
a reply to: AugustusMasonicus

Not liquid huh

What he can not get financed

Liquidity means you have access to your money easily... it is in cash or securities that you can easily sell. Some people are wealthy on paper, but they aren't liquid. For example, let's say you bought a house 20 years ago in San Francisco. There is no mortgage on the house and the home is worth $2 million. On paper, you are a millionaire because of the equity in the home. However, that wealthy isn't liquid. You just can't tap into on a whim. True, you could take out a mortgage or home equity line to get cash, but until you actually sell the property and get cash, you aren't all that "liquid". In other words, it is a pain to get to the money.

On the other hand, a guy who has $2 million in cash or securities that he can easily convert to cash is liquid. They can get the money immediately.

Bezos is definitely filthy rich by any measure, but again all of the wealth is tied up in the company shares. Yes, he probably has a few billion sitting around he can get to at any point to buy a yacht, hookers, Washington Post or whatever else he fancies, but he can't access all $80 billion of his wealth without causing a serious issue with the company. First, if he were to try to sell all his shares to get his $80 billion, it would tank the value of the stock. First, there are probably covenants that won't allow him to do it. Second, other investors would then start to question the future of the company.

By the way, quick google search is showing Bezos has given about $100 million to various charities. To be fair, that is kind of light giving for someone of his wealth now. However, his wealth has also tripled over the past three years because Amazon stock took off so much. However, last month he asked twitter for philanthropic ideas for future giving.

When people are bashing the uber rich they never really look to see all the other things they've done with their money. Often times, it is done quietly. Museums, hospitals, universities, etc all have major benefactors that make what they do possible. People really have no idea because they are so blinded with envy.

originally posted by: DBCowboy
Bezos is a little bitch.

I have more stars and flags than he does.

Yeah, but you bought them on Amazon.

Isn't the Sand King a trillion-are?

a reply to: AugustusMasonicus

a reply to: DBCowboy

Well, to be fair, some of them came from me but as your socket puppet account I'm kinda left with no option.

originally posted by: AugustusMasonicus
a reply to: DBCowboy

Well, to be fair, some of them came from me but as your socket puppet account I'm kinda left with no option.

People would freak if they knew that we were both actually Zazz accounts.