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Jeff Bezos Becomes the Richest Man In Modern History, Topping $150 Billion (bloomberg.com)
An anonymous reader quotes a report from Bloomberg: Jeff Bezos is the richest person in modern history. The Amazon founder's net worth broke $150 billion in New York on Monday morning, according to the Bloomberg Billionaires Index. That's about $55 billion more than Microsoft co-founder Bill Gates, the world's second-richest person. Bezos, 54, has now topped Gates in inflation-adjusted terms. The $100 billion mark that Gates hit briefly in 1999 at the height of the dot-com boom would be worth about $149 billion in today's dollars. That makes the Amazon chief executive officer richer than anyone else on earth since at least 1982, when Forbes published its inaugural wealth ranking. Bezos crossed the threshold just as Amazon prepares to kick off its 36-hour summer sales event, Prime Day. The company's share price was $1,825.73 at 11:10 a.m. in New York, extending its 2018 gain to 56 percent and giving Bezos a $150.8 billion fortune. A little more than a week ago, Facebook co-founder Mark Zuckerberg overtook Warren Buffett to become the world's third-richest person.
When is enough money enough money? I ponder...
If you're pondering this, you're wasting your time. The disease of Obscene Greed has proven to be limitless, and we'll soon be counting the world's trillionaires.
With a few more years of stagnant employee wages and no corporate tax we can get him to $200 billion in no time.
Interesting how when he makes $150 billion, it's because he deserves it. When i make $150,000 it's because IT salaries are too high and we need more visas.
And he still pays his warehouse workers a shit wage. He's a fucking asshole.
The disease of Obscene Greed has proven to be limitless
According to the required federal reporting on CEo compensation, Bezos was paid $80k in 2017 (previously he had been making the Amazon salary cap of $176k). He refused the boards offer of additional stock. I'm pretty sure that's not what limitless greed looks like.
His wealth is all from stock he got when Amazon went public, that he's still holding on to. Seems reasonable to me that someone who starts a company in his garage and eventually takes it public gets some chunk of stock when that happens. Is he somehow evil because the company was quite successful in the years that followed?
Socialism: a lie told by totalitarians and believed by fools.
This means more retails shops like Sears/ToysRUs will close down, I am pretty sure this affects retail real estate all over the country. So literally hundred of thousands of people will lose their jobs and there is a cascading effect.
Amazon accounts for around 5% of retail, smaller than WalMart, They're the big dog in online retail, (when they can keep their site up), but they're far from the reason broken businesses like Sears are failing.
Socialism: a lie told by totalitarians and believed by fools.
Well stated.More over he does not have 150 billon to play with. Being that he wants to maintain (rigid) control over his company, he cannot sell most of his stock without risking losing that power. Further, that valuation is all just paper.Until he liquidates his position, his valuation will go up and down and follow the stock price. If Amazon stock tanks tomorrow, he is going to be quite a bit less rich. Finally, if / when he sells, dumping that much stock will lower the price, so he is going to have to take a long time to sell off, or accept that he isn't going to get 'full value' for his options. He could probably tank the price by himself just by putting all his stock on the market all at once.
That doesn't mean that he still isn't a rich bitch, though.Given that he has a strong track record in building companies, he could probably get a couple of hundred billion loaned to him by banks with his stock as collateral.If he wanted a 'Trump style' paper empire, he could buy many, many big companies with leveraged collateral, and pay back the interest with profits.He could become the worlds first trillionaire if he stopped fucking around with Amazon, and really pursued the goal.
Of course, who cares? At a certain point, its just numbers in a computer. He'll still be dead of cancer or a bad ticker in 50 years, and he cannot drink any more beer that you or I can in a single day. I kinda feel bad for him. He cannot go anywhere without an armed security escort. He will always have a huge number of people who dislike him, for no other reason than he has stupid piles of cash. In a way, hes trapped by his own success.
HA! I just wasted some of your bandwidth with a frivolous sig!