Rich Get Richer
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June 4, 2020
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June 6, 2020RICH get RICHER and THE poor STAY pOORER
Per hour, he earns a whopping $8,961,187 million — that's roughly 315 times Amazon's $28,466 median annual worker pay. An Amazon worker earning the $15 minimum wage would need to work about 597,412 hours, or 24 hours a day for about 68 years, just to earn what Bezos makes in one hour.
We did the math to calculate how much money Jeff Bezos makes in a year, month, week, day, hour, minute, and second
In 1994, Bezos founded Amazon.com in a garage in Seattle, shortly after he resigned from the hedge fund giant D.E. Shaw. In fact, he had originally pitched the idea of an online bookstore to his former boss David E. Shaw (a rumor that Shaw himself has confirmed), who wasn't interested.
Though Amazon.com originally started out selling books, it has since morphed into a one-stop-shop for everything under the sun, and is arguably the world's most important retailer. At any rate, it is hard to dispute its self-description as the "earth's most customer-centric company."
Its pattern of constant diversification is evident in some of its unexpected recent expansions, which include its acquisition of Whole Foods in 2017 and its launching of its own branded over-the-counter drugs in Feb. 2018.
Amazon announced on Tuesday plans to raise the company's minimum wage in the US to $15. Despite this salary increase, Amazon workers don't make close to what CEO Jeff Bezos makes. We calculated how much Bezos makes in one year, month, week, day, hour, minute, and second.
Business Insider previously calculated Bezos' annual and hourly earnings using Forbes' annual billionaire's list, published every March, but we've updated these calculations using the latest Forbes 400 list, published on October 3.
This estimation of Bezos' wages are being used for the sake of comparison. A large portion of his wealth is tied to Amazon stock, which can increase or decrease in value at any given time.
At the annual earnings rate Business Insider calculated — again, an estimation based on the change in his Forbes net worth year-over-year — Bezos has earned $6.54 billion a month, more than $1.5 billion a week, and more than $215 million a day in the last 12 months.
Per hour, he earns a whopping $8,961,187 million — that's roughly 315 times Amazon's $28,466 median annual worker pay. An Amazon worker earning the $15 minimum wage would need to work about 597,412 hours, or 24 hours a day for about 68 years, just to earn what Bezos makes in one hourear Earnings = $78.500.000.000
Monthly Earnings- $6,541,666,666 Day Earnings= $218,068,493 Minute Earnings = $149,353Bezos' hourly rate is equivalent to $149,353 a minute. To put things in perspective, Bezos makes more than three times what the median US worker makes in year — $45,552, according to data by the Bureau of Labor Statistics — in one minute.
In one second, Bezos also makes more than twice what the median US worker makes in one week — $2,489 compared to $876, respectively. For Bezos, time is money — a lot of it.Bill Gates
The only Harvard dropout in the Top Five, Bill Gates' knack for increasing wealth is staggering, even for an already wealthy guy. The Microsoft co-founder's net worth has more than doubled since 2009.4
Through the Bill & Melinda Gates Foundation, he has also spent billions to fight polio and malaria. Additionally, he pledged $50 million in 2014 to help fight Ebola.5 Bill Gates stepped down from the boards of Microsoft and Berkshire Hathaway on March 13, 2020.
Bill and Melinda Gates work together to expand opportunity to the world’s most disadvantaged people by collaborating with grantees and partners. They also participate in national and international events and travel extensively to focus attention on the issues the foundation champions.
Bill began his major philanthropic efforts in 1994, when he created the William H. Gates Foundation, which focused on global health. Three years later, he and Melinda created the Gates Library Foundation, which worked to bring public access computers with Internet connections to libraries in the United States.
Its name changed to the Gates Learning Foundation in 1999 to reflect its focus on ensuring that low-income minority students are prepared for college and have the means to attend. In 2000, to increase efficiency and communication, the two groups merged into the Bill & Melinda Gates Foundation.
In 1975, Gates left Harvard University in his junior year to focus on Microsoft, the company he founded with his childhood friend Paul Allen. As chief software architect and chairman,
Bill led the company to become the worldwide leader in business and personal software, services, and solutions. In July 2008, Gates transitioned into a new role as chairman of Microsoft and advisor on some key development projects.
He is a member of the board of directors of Berkshire Hathaway Inc.
Gates grew up in Seattle with his two sisters. His father, William H. Gates Sr., is a co-chair of the foundation and a retired attorney. His late mother, Mary Gates, was a schoolteacher, University of Washington regent, and chairwoman of United Way International. The Gateses have three children.
Bernard Arnault Family
French national Bernard Arnault is the chairman and CEO of LVMH, the world's biggest luxury goods company. The company owns some of the biggest brands on earth including Louis Vuitton, Hennessey, Bulgari, Marc Jacobs, Dior, Sephora, and many more.
An engineer by training, Arnault's business chops became apparent whilst working for his father's engineering company, Ferret-Savinel. He converted the company to a real estate company in 1976.
Arnault acquired luxury goods maker Financière Agache in 1984, eventually selling all of its holdings other than Christian Dior and Le Bon Marché department store. He became chairman of the board of LVMH in 1989. His own investments are broad, including technology concerns and yacht companies.
Bernard Arnault has lost more money due to the coronavirus than any other billionaire. Meet the CEO of luxury goods giant LVMH, who was once the world's 2nd-richest person.
Before the coronavirus, luxury conglomerate LVMH was posting record-breaking revenues and sending Bernard Arnault's net worth soaring. That all changed over the past few months as the pandemic forced retail stores to close, left millions unemployed, and sent both LVMH's share price and Arnault's net worth into a free fall.
Arnault has lost more money from his personal fortune during the pandemic than any other billionaire, Bloomberg reported. The 71-year-old CEO now has a net worth of $77 billion, down from $109 billion in January, per the Bloomberg's Billionaires Index.
The French businessman is still the richest person in the fashion industry. Before the coronavirus, Arnault was growing richer at a faster rate than many other billionaires. In 2019, his fortune grew by more than $31.4 billion, according to Bloomberg's Billionaires Index.
In March 2019, the French billionaire overtook Warren Buffett to become the third-richest person in the world. A few months later, he surpassed Bill Gates to become the world's second-richest person for a brief period before dropping back to third. And in October, Arnault made $5.1 billion within 48 hours after a surge in share prices of his conglomerate.
Bernard Arnault is the fourth-richest person in the world, worth an estimated $77 billion, down from $109 billion in January.
The 71-year-old French businessman is the chairman and CEO of LVMH Moet Hennessy Louis Vuitton SE, known as LVMH, a position he's held since 1989. LVMH is the world's largest maker of luxury goods.
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