You vs Jeff Bezos’ Personal Wealth Calculated

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You vs Jeff Bezos’ Personal Wealth Calculated
By Seattle City Council from Seattle [CC BY 2.0], via Wikimedia Commons

The pandemic saw job losses on a scale that no one could have predicted.

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Unemployment Rate Skyrockets

The US unemployment rate skyrocketed from 4.4% in March 2020 to 14.7% in April 2020. According to the US Bureau of Labour Statistics this is the highest rate of unemployment seen in the US in at least 72 years.

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But they say it is an ill wind that doesn’t blow well for someone. And that someone is Jeff Bezos.

With most shops closed during the pandemic people turned to online shopping in their droves. Amazon, the world’s largest online shop, started to thrive at levels never seen before.

This saw Amazon's stock price rise from a pre-lockdown price of $1,862 on January 15th 2020, to the current price of $3,036.

Jeff Bezos' Personal Wealth

According to reports, Jeff Bezos' personal wealth increased by $24 billion over the 2 months of the pandemic.

$24 billion is a lot of money. Too much for most people to get their head around. Stratos Jet Charters developed a calculator that shows you how many seconds it takes Jeff Bezos to earn your wage.

The results are staggering.

They have preloaded the calculator with $35,096. This is the yearly salary of the average Amazon employee.

Can you guess how long it takes Jeff Bezos to earn that?

Try it with you own wage to see how you compare.

Source: Stratos Jet Charters

The Billionaires That Aren't Doing So Well

With that being said, not all of our favourite billionaires are doing well this year.

Bernard Arnault, who is the CEO of luxury brand Moët Hennessy – Louis Vuitton, is losing personal wealth at a rate of $1,040 per second or $2.6 billion per month in 2020. Luxury goods are not doing well in the pandemic. No surprise there.

World famous stock market investor, Warren Buffett, is also having a hard time this year. As stock markets plunge due to the pandemic, so does Buffett's personal wealth. He is losing wealth at a rate of $1,213 per second or $3.1 billion per month. Ouch.

Try not to feel too sorry for them, however. Arnault and Buffett are still worth a very healthy $91 billion and $71 billion respectively.

Jacob Wolinsky is the founder of ValueWalk.com, a popular value investing and hedge fund focused investment website. Jacob worked as an equity analyst first at a micro-cap focused private equity firm, followed by a stint at a smid cap focused research shop. Jacob lives with his wife and four kids in Passaic NJ. - Email: jacob(at)www.valuewalk.com - Twitter username: JacobWolinsky - Full Disclosure: I do not purchase any equities anymore to avoid even the appearance of a conflict of interest and because at times I may receive grey areas of insider information. I have a few existing holdings from years ago, but I have sold off most of the equities and now only purchase mutual funds and some ETFs. I also own a few grams of Gold and Silver
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