Jeff Bezos now richest man in the world (allegedly)

Poor guy needs a few extra bucks with a tax cut.

When I was a kid I was told that the dishonest never prosper. I wonder if there is a planet out there were that statement is not erroneous.

Your Tax Dollars Subsidize Amazon. Are the Jobs Worth It?
Warehouse jobs pay half what manufacturing jobs do, yet cities compete to offer the biggest tax breaks to the world's largest retailer.

Why the Post Office gives Amazon a $1.46 subsidy on each box
In 2007 the Postal Service and its regulator determined that, at a minimum, 5.5% of the agency’s fixed costs must be allocated to packages and similar products. A decade later, around 25% of its revenue comes from packages, but their share of fixed costs has not kept pace. First-class mail effectively subsidizes the national network, and the packages get a free ride. An April analysis from Citigroup estimates that if costs were fairly allocated, on average parcels would cost $1.46 more to deliver. It is as if every Amazon box comes with a dollar or two stapled to the packing slip—a gift card from Uncle Sam.

a reply to: toysforadults

Lol, you sound a little bit jealous towards a man who made FAR better decisions in life than you.... I live in downtown Seattle, I know LOADS of Amazon/AWS workers, they all make very healthy pay... Yes, warehouse workers make little, this is not unique to Amazon. Warehouse workers take little to no education and are a 'dime a dozen', they don't deserve high pay, similar to that McDonalds worker who thinks they deserve a livable wage... If you want to make more money, get a damn education and create a better life for yourself, i.e. like Jeff Bezos did... Congrats, Jeff.. When you have haters, it means youre doing something right!

originally posted by: toysforadults
Yeah so all the crappy wages he is paying his employees has finally payed off!

Jeff Bezos cheapest bastard on the planet

According to Forbes and Bloomberg, the Amazon CEO had a net worth of over $89 billion as of the close of markets Wednesday, while Bill Gates had a net worth of just over $90 billion.

Well, this is amazing. His employees can't afford to pay rent and his warehouse (like around where I live) have notoriously crappy conditions and bad wages but that's cool!

Woop woop go Jeff Bezos!

The article also talked about how much wealthier the wealthy have grown (from your article):

In 1987, according to Forbes, there were 140 billionaires in the world with a combined net worth of $295 billion. Now, billionaires number 2,043 and have a combined $7.7 trillion.

I mean, it's just obscene. And people wonder why most of the population is struggling and we are seeing a societal breakdown. The top fraction of the 1% are hoarding most of the resources, and at a level that is unique to human history. It is just disgusting.

originally posted by: redhorse

originally posted by: toysforadults
Yeah so all the crappy wages he is paying his employees has finally payed off!

Jeff Bezos cheapest bastard on the planet

According to Forbes and Bloomberg, the Amazon CEO had a net worth of over $89 billion as of the close of markets Wednesday, while Bill Gates had a net worth of just over $90 billion.

Well, this is amazing. His employees can't afford to pay rent and his warehouse (like around where I live) have notoriously crappy conditions and bad wages but that's cool!

Woop woop go Jeff Bezos!

The article also talked about how much wealthier the wealthy have grown (from your article):

In 1987, according to Forbes, there were 140 billionaires in the world with a combined net worth of $295 billion. Now, billionaires number 2,043 and have a combined $7.7 trillion.

I mean, it's just obscene. And people wonder why most of the population is struggling and we are seeing a societal breakdown. The top fraction of the 1% are hoarding most of the resources, and at a level that is unique to human history. It is just disgusting.

Two things.

1) Inflation skews the numbers some. $1 billion in 1987 is the equivalent of $2.1 billion today. It is like how making $100,000 today isn't nearly as impressive as making $100,000 in the 80s. However, as more people get educations, etc you have more and more people hitting these benchmarks.

2) The economy creating more billionaires is a good thing. It means people are taking risks, creating companies with immense value, and being rewarded for it. The vast majority of these billionaires are in tech fields. To have a capitalist economy go from 140 billionaires to more than 2,000 is a good thing. The vast majority of these people are first generation wealth.

3) The stock market is why wealthy see their wealth increase. However, it isn't just the "wealthy". It is anyone who has assets in the equity markets, i.e., your average 401k holder.

People become billionaires because they create value far in excess of their billions.

originally posted by: Edumakated
3) The stock market is why wealthy see their wealth increase. However, it isn't just the "wealthy". It is anyone who has assets in the equity markets, i.e., your average 401k holder.

I started my 401K at 23 years old and put in as much as was allowed ever since. I just hope the stock market holds up until I retire and I can be a 1%er!

Let that be a lesson to you youngsters just starting out. Put money away from every paycheck. You'll thank me for that advise in 45 years

originally posted by: LogicalGraphitti

originally posted by: Edumakated
3) The stock market is why wealthy see their wealth increase. However, it isn't just the "wealthy". It is anyone who has assets in the equity markets, i.e., your average 401k holder.

I started my 401K at 23 years old and put in as much as was allowed ever since. I just hope the stock market holds up until I retire and I can be a 1%er!

Let that be a lesson to you youngsters just starting out. Put money away from every paycheck. You'll thank me for that advise in 45 years

Exactly. Most people rather make excuses though. The thing is you will be a 1%er through your own hard work and sacrifice only to have some simps on here be envious of you and want to take half your wealth to spread around.

originally posted by: Edumakated
The thing is you will be a 1%er through...sacrifice...

I got there with some sacrifices.

How does having one billion less than Bill Gates make Jeff Bezos the richest man in the world?

I'm confused.

originally posted by: Junkheap
How does having one billion less than Bill Gates make Jeff Bezos the richest man in the world?

I'm confused.

Carry the seven.

And Bill Gates is a nerd.