Jeff Bezos
Source: Getty Images

Jeff Bezos’s Net Worth Is 2.8 Million Times the Median U.S. Household Income

By

Aug. 31 2021, Published 4:41 p.m. ET

Like the Blue Origin launch vehicle that took him to space in Jul. 2021, Jeff Bezos’s net worth has been skyrocketing—and apparently he has much of that money in cash.

Article continues below advertisement

This year, the title of the wealthiest person in the world has alternated between Bezos, Tesla CEO Elon Musk, and LVMH CEO Bernard Arnault, with their fortunes hovering around the $200 billion mark.

But Bezos claimed the top spot in mid-Aug. 2021, according to Forbes, and as of Aug. 30, the Amazon founder had a net worth of $197.2 billion. Of course, all that money puts Bezos under the scrutiny of those who wish ultra-billionaires would share the wealth a little.

Article continues below advertisement

How much does Jeff Bezos have in cash?

Jeff Bezos
Source: Getty Images

According to Bloomberg, Bezos’s net worth comprises $1.34 billion in cash, $9.15 billion in private assets, and $171 billion in public assets. He had about 51.7 million shares of Amazon as of May 2021, reports MarketWatch.

Bloomberg also reports that Bezos’s net worth “can buy 107 million troy ounces of gold [and] 2.67 billion barrels of crude oil and is equivalent to 0.928 percent of the GDP of the United States, 2.33 percent of the total wealth of the 500 richest people in the world, 49.1 percent of the top 100 U.S. college endowments, 3,076 percent of the top 200 U.S. executives’ total awarded compensation, 8.56 percent of U.S. existing home sales, [and] 2,827,707 times the median U.S. household income.”

Article continues below advertisement

What does Jeff Bezos say about his net worth?

In a 2018 conversation with Axel Springer CEO Mathias Döpfner, Bezos said that the “only way” he can imagine deploying “this much financial resource” is to spend the money on space travel—specifically through Blue Origin, his spaceflight company.

“Blue Origin is expensive enough to be able to use that fortune, and I’m currently liquidating about a billion dollars a year of Amazon stock to fund Blue Origin, and I plan to continue to do that for a long time,” he explained. “I’m very lucky because I feel like I have a mission-driven purpose with Blue Origin that is I think incredibly important for civilization long-term, and I am gonna use my financial lottery winnings from Amazon to fund that.”

Article continues below advertisement

What do others say about Bezos’s net worth?

In a Squawk Box appearance in Ju. 2021, Sen. Elizabeth Warren called Bezos out as she made another push for a wealth tax. Last year, during her presidential run, Warren proposed a 2-percent annual tax on net worths of $50 million and a 6-percent annual tax on net worths over $1 billion.

Article continues below advertisement

“I want to see us tax wealth, however your wealth is tied up. It shouldn’t make a difference whether you have real estate, or whether you have cash, or whether you have a bazillion shares of Amazon. Yes, Jeff Bezos, I’m looking at you,” Warren said on the CNBC show. “Whatever form you have your assets—diamonds, yachts, paintings—I think there ought to be a tax on that annually.”

She continued: “Jeff Bezos has not paid taxes on the wealth that he has. … [He is worth] a bazillion dollars. He has not paid taxes on all of that wealth. … In fact, Jeff Bezos, many years, has either paid nothing in taxes or has paid 1 percent.”

Advertisement

More From Market Realist

    • CONNECT with Market Realist
    • Link to Facebook
    • Link to Twitter
    • Link to Instagram
    • Link to Email Subscribe
    Market Realist Logo
    Do Not Sell My Personal Information

    © Copyright 2021 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.