Amazon’s Jeff Bezos on Track to Become World’s First Trillionaire
Amazon CEO Jeff Bezos is reportedly on track to become the world’s first trillionaire, with a recent study showing that his net worth has grown an average of 34 percent over the last five years. The research predicts Bezos will become a trillionaire in 2026.
USA Today reports that a recent study from the business analysis firm Comparisun alleges that Amazon CEO Jeff Bezos is very likely to become the world’s first trillionaire after seeing his net worth grow on an average of 34 percent over the last five years.
Comparisun’s projections show that Bezos could reach trillionaire status by 2026 based on taking Bezos’ average percentage of yearly growth over the past five years and applying it to future years. Following Bezos, the next several likely trillionaires are Chinese tycoons, including Jack Ma, CEO of Alibaba.
Bezos’ net worth was estimated at $143 billion as of Thursday morning according to Bloomberg’s Billionaires Index. Bezos’ net worth has surged by more than $28 billion in comparison to this time last year.
Breitbart News recently reported that e-commerce giant Amazon plans to stop paying warehouse workers an extra $2 per hour at the end of the month after raising workers’ wages beginning in March to compensate them for coming into work during the Wuhan coronavirus pandemic.
Dave Clark, Amazon’s senior vice president of worldwide operations told Recode: “We’re going to do one more extension on it and push it out until the end of the month.” The $2 raise has been in effect since mid-March alongside increased overtime pay and was originally planned to run until the end of April but was extended by the company.
Amazon also cut a policy that allowed workers to take unlimited amounts of unpaid time off in order to allow workers to stay home if they felt unsafe coming to work during the pandemic. One Amazon employee told the Guardian: “Now they’re forcing people to go to work because if you run out of unpaid time off, that’s it, you’re fired.”
Amazon told Business Insider that its pay incentives for employees since the beginning of the pandemic have reached nearly $800 million. The firm also expects to spend $4 billion on increased wages, personal protective equipment, and increased cleaning of its facilities.