The Wealth of Jeff Bezos: Earning $1.9 Million Every Hour — What Does He Spend It On?
Jeff Bezos continues to teeter between wealthiest and second-wealthiest billionaire in the U.S. as the battle between Amazon’s founder and Elon Musk rages on — according to the Forbes Real-Time Billionaires list. With a net worth of $197.5 billion, Bezos holds most of his wealth in Amazon stock.
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While this number seems staggering to most people, it’s even more amazing if you break down his earnings by the hour. In 2014, Bezos had a net worth of $30.5 billion, according to Forbes. That number increased steadily over the years and, in 2018, he reached No. 1 on Forbes’ billionaires list for the first time.
Bezos’ wealth increased by $167 billion in the past 10 years, or $16.7 billion per year, roughly $45.8 million per day, and roughly $1.9 million per hour. Of course, since Bezos’ investments make money while he sleeps, we didn’t use an 8-hour workday or 40-hour workweek for these calculations.
What would you do if your wealth increased by nearly $2 million every hour? Here are some ways Bezos’ spends his money.
Real Estate
Like many billionaires, Bezos purchases real estate for investments and for his own enjoyment. In 2023, he purchased two mansions in Florida’s wealthy Indian Creek Island, sometimes called “Billionaire Bunker” island. The neighboring properties cost $68 million and $79 million, according to NYPost.com.
In February 2020, Bezos purchased a Beverly Hills estate for $165 million, with a 13,600-square-foot mansion on nine acres. He also owns a $78 million property in Maui, Hawaii, and properties in Washington, California, Texas, and New York, according to Benzinga.
Media Ventures
In addition to real estate, Bezos invests in companies he knows and trusts. One of his largest venture capital endeavors involved buying The Washington Post for $250 million in 2013.
Space Travel
Another investment in Bezos’ portfolio is Blue Origin, the aerospace company he founded in 2000. The New Shepard rocket developed by the company has helped make space tourism possible, albeit for a hefty price. In June 2021, Blue Origin auctioned off a seat on its first suborbital flight for $28 million. Other passengers, like William Shatner, have flown free as honored guests.
Vacations
While Bezos has been to space on the New Shepard, he also enjoys more earthly vacations, according to various news sources. Last year, he cruised the Mediterranean with his fiancée Lauren Sanchez. During the trip, he proposed to Sanchez, gifting her a diamond ring valued at $3.5 million.
Yachts
Like many billionaires who live on the coasts, Bezos also enjoys yachts. He is the owner of the Koru, a 417-foot sailing yacht valued at $5 million. It’s a common tactic for billionaires to use vehicles like yachts and private jets as tax write-offs if they can claim it as a business expense.
Cars
Although as recently as 2013, Bezos was driving a Honda Accord, the billionaire has a substantial luxury car collection valued at roughly $20 million, according to Benzinga. Vehicles include a Cadillac Escalade, Land Rover Range Rover, Ferrari, Bugatti and a Mercedes-Benz.
Charitable Contributions
Billionaires also use charitable contributions to avoid paying taxes. Supporting causes they believe in gives them a chance to put their money to good use and make a positive change in the ways they best see fit. Bezos founded the Bezos Earth Fund, with a personal commitment of $10 billion, to fund grants for projects related to climate change and nature preservation.
Bottom Line
Based on this research, it’s clear billionaires like many of the same things as everyone else, from nice cars to vacations. But the bulk of their money goes into purchases and activities that will generate more income, such as venture capital endeavors.
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This article originally appeared on GOBankingRates.com: The Wealth of Jeff Bezos: Earning $1.9 Million Every Hour — What Does He Spend It On?
