- Amazon CEO Jeff Bezos’s net worth grew by $US75 billion in 2020.
- Bezos announced on Tuesday he is stepping down as Amazon’s CEO.
- The billionaire has been criticised for failing to adequately reward Amazon’s frontline workers.
- Visit Business Insider’s homepage for more stories.
In 2020, the rich got richer.
On Tuesday, Amazon CEO Jeff Bezos announced he is stepping down from his role leading the company. According to Bloomberg’s Billionaire Index, Bezos is currently the second richest man in the world â€” worth $US188 billion as of January 31.
Bezos’s net worth grew by $US75 billion in 2020, according to Bloomberg’s Billionaire Index. Here is a chart that puts Bezos’s billions in perspective. As a reminder â€” Bezos began 2020 as the richest man in the world.
Business Insider took note of Bezos’s net worth, as estimated by Bloomberg, on the 1st and 15th of every month through December 1. This helped avoid exaggerating brief peaks and tumbles in Bezos’s net worth, as he and other billionaires regularly gain or lose billions of dollars in a single day.
Bloomberg provides some helpful comparisons for Bezos’s net worth, which is 2.7 million times the median U.S. household income. For example, his wealth is equal to almost 8% of all home sales in the US. His gains this year alone are greater than the annual GDP of Costa Rica or Lithuania.
Bezos’s net wealth climbed through 2020 as Amazon shares skyrocketed, due to the rise in online shopping. Business Insider’s Eugene Kim reports that Bezos is back in the trenches during the pandemic, taking a more hands-on approach as COVID-19 disrupts business.
Critics have slammed Bezos for failing to adequately reward Amazon’s frontline workers during the pandemic. Bloomberg recently reported that more than 4,000 of the company’s warehouse workers are on food stamps, even as Bezos’s net worth grew by billions. (Amazon has called Bloomberg’s conclusions “false,” noting that the company pays all workers $US15 minimum wage.)
“Warehouse workers have gone on strike and sued the company during the pandemic, alleging Amazon did not protect them enough from COVID-19,” Allana Akhtar reports. “Amazon said more than 19,000 workers tested positive for COVID-19 between March 1 and September 19.”