Jeff Bezos Makes $1.43 Million Per Hour — Here's What He's Been Spending It On
Amazon.com Inc. Founder Jeff Bezos ranks among the world's wealthiest people. Beginning as a niche online bookstore in 1994, his company has since evolved to become the world's most valuable online retailer.
The past decade has been particularly transformative for Bezos's net worth thanks to the staggering appreciation in Amazon's share price. As more consumers around the world embraced online shopping, Amazon's business flourished, bolstering investor confidence and driving up its stock valuation.
The stock's surge was mirrored in Bezos's personal fortune. According to the Bloomberg Billionaires Index, Bezos's net worth is currently $155 billion, with Amazon equity being his largest asset. This positions him as the third-richest person on the planet.
Data from Bloomberg also indicates that Bezos's net worth was $29.4 billion 10 years ago. This means his wealth has increased by $125.6 billion over the last decade. That breaks down to $12.56 billion per year, $34.4 million per day and $1.43 million per hour.
While Bezos's rate of wealth accumulation is impressive, it's also intriguing to delve into how the billionaire allocates and spends this fortune.
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Yacht
Bezos and his fiancée Lauren Sanchez were recently spotted touring the Mediterranean on his new vessel, Koru.
Formerly known as Project Y721, Koru is a triple-masted sailing yacht that’s 417 feet long. It was created by renowned Dutch shipbuilder Oceanco and reportedly cost $500 million. According to Boat International, Koru is the largest sailing yacht in the world.
With nine staterooms, Koru can accommodate up to 18 guests and has 36 crew members.
Superyachts often travel with support ships that provide additional crew accommodation and carry toys like smaller boats, helicopters, jet skis and submersibles.
Koru is no exception. It is accompanied by a support vessel named Abeona, a 246-foot motor yacht that features a helipad.
Real Estate
Like many billionaires, Bezos has built up a considerable real estate portfolio.
For instance, he purchased the Warner Estate for $165 million in February 2020. Located in Beverly Hills, this estate sprawls across nine acres and features a 13,600-square-foot mansion.
Fast forward to 2021, and Bezos parted with $78 million for a 14-acre estate in Maui, Hawaii.
According to Architectural Digest, the tech mogul has also purchased "several properties in his home state of Washington, a number of New York City apartments, a few sprawling estates in California, a ranch in Texas, and a number of places in Washington, D.C."
Interestingly, despite Bezos' extensive property holdings — and the fact that he can probably afford to buy any house he wants — he also opts to rent.
Earlier this year, Bezos and Sanchez were reportedly renting a home in Malibu, California, from legendary jazz saxophonist Kenny G for $600,000 per month.
Venture Capital
Aside from his journey with Amazon, Bezos has delved deep into the world of venture capital investments. His personal investment arm, Bezos Expeditions, has a diversified portfolio spanning various industries.
One of the most noteworthy investments in the portfolio is Blue Origin, an aerospace manufacturer and spaceflight company founded by Bezos. According to the company, its mission is to "enable millions of people living and working in space for the benefit of Earth."
Another standout in Bezos’s portfolio is The Washington Post. In 2013, Bezos purchased the media giant for $250 million.
Bezos has also backed companies that help democratize the investing world.
For instance, he has invested in Arrived Homes, a platform that allows everyday investors to buy shares of rental properties for as little as $100. If you want to earn passive income from real estate but don't want to go through the hassle of buying a house, you might want to take a closer look at this innovative approach.
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