Thats crazy he could let me hold a billi and it wouldnt affect him at all meanwhile it would set up my family for generations
He owns a lot of it and it's pretty much an essential business. Amazon Web Services for cloud computing is also pretty huge. They also have their own delivery trucks now and are phasing out UPS/FedEx
Bill Gates could have been richer than this if he stayed on Microsoft/didn't sell his shares. He also gave away a loooot more.
you know anything about his tax situation? apparently he doesn't pay any or very little jus wondering
seriously what about amazon makes him so much money? Is it because he owns a very large percentage of it because plenty of multi billion dollars companies don't have people at the top nearly as rich as this
A share of amazon right now is worth almost 3,000 dollars. It’s been going up steadily since the company went public years ago.
Back when the company went public a share of amazon was probably around a dollar (or something like that)
At that time Bezos probably bought millions of shares (as well as others).
And think of it this way. He bought millions of shares when it was trading at a couple dollars. Every dollar Amazon goes up he gains some millions of dollars. And it’s gone up to 3,000 dollars per share
you know anything about his tax situation? apparently he doesn't pay any or very little jus wondering
He doesn't get taxed on his wealth.
Wealth/Shares in his companies can go up but he won't be taxed on it because Capital Gains under the tax code are not recognized until the asset is sold. A Capital Gain is when the assets purchase price becomes < than it's current value.
Bezos doesn't sell his shares so he doesn't get taxed on them.
Also for his actual income there are a bunch of ways to manipulate the complicated tax code to pay less. Deloitte/EY/PwC all have special tax CPA groups that specialize in doing high net worth people's taxes.
if you're interested in the topic
review.chicagobooth.edu/economics/2019/article/capitalisn-t-morality-or-immorality-wealth-tax
i would love to ask him his thoughts about money
cause at that level of wealth, i feel like it almost doesn't exist
Bill gates once said once you hit 100 million money irrelevant
Not exactly that but something to that effect
What’s the point of having that much money if you only have 2.5 m ig followers? He doesn’t even get that many likes.
@genghiskharti
if you're interested in the topic
https://review.chicagobooth.edu/economics/2019/article/capitalisn-t-morality-or-immorality-wealth-tax
listening to it now. thanks
@genghiskharti
if you're interested in the topic
https://review.chicagobooth.edu/economics/2019/article/capitalisn-t-morality-or-immorality-wealth-tax
"But actually, the history goes in the opposite direction, because the income tax was introduced at the beginning of the 20th century and initially was only 1 percent. Within 50 years, it reached 90 percent, so once you start to introduce a taxation, I think that there is a tendency to use that as a source of revenue every time you need some. And the other question is, who do you define as rich? Because the definition of rich is somebody that makes more than you do. Everybody is happy to tax the ones that are above $50 million because none of us is in that category. But if you keep going down, at some point it will reach your level of wealth, and then you start saying, “Why me?”"
this paragraph killed me lmao what a bootlicker