Amazon founder and CEO Jeff Bezos has come a long way with Amazon. Starting as an online bookstore, he grew the company into one that completely redefined e-commerce, and commerce in general. In the meantime, his company has also made him the richest man in the world with a net worth of $157.4 billion. Around 90% of Bezos’s wealth is locked up in Amazon stock, of which he owns 80 million shares. The remaining 10% comes from his salary and outside investments.
With all these billions, Bezos could spend millions a day for the rest of his life and never run out of money. Although he does not do this, he still is known for his spending escapades. Here is how Jeff Bezos spends his billions:
Bezos has houses all across America. However, his main residence is in Medina, Washington, an island off the coast of Seattle. His house is estimated to be worth $70 million and he’s neighbors with tech titans like Bill Gates.
All in all, Bezos has a real estate portfolio that is worth well over $300 million. Ranging from ranches in Texas to Spanish mansions in Beverly Hills, Bezos has many different climates and styles to choose from.
Bezos recently broke real estate records by purchasing the most expensive home in Washington D.C. With three of the finalists for Amazon’s second headquarters located around the nation’s capital, Bezos knew that he had to think ahead and buy a property where he would be spending half his time. Interestingly enough, Bezos took the most expensive property purchase in D.C. from none other than our former president, Barack Obama.
Although Bezos drives a 1996 Honda Accord, he makes up for it with his other luxury vehicles and toys. Bezos owns a $65 million Gulfstream G-650 private jet. This is the longest range business jet and has a top speed of about 710 mph. Obviously, such a high-profile man will need equally high-profile security. It has been said that Bezos spent $1.6 million dollars on private security alone in 2017.
Lastly, Bezos is spending a lot of his money for one of his intellectual dreams, a 10,000-year clock. On his property in Texas, he is currently in the process of building one of these into a mountain. He has already put $42 million dollars into the project, which is meant to get humans to think more long-term about humanity.
Although Richard Branson’s Virgin Galactic & Elon Musk’s SpaceX are the two private space companies that take all the glory, Bezos does have his own private space exploration company as well. It is called Blue Origin and it has the mission of making tourism to space affordable for the average Joe.
Bezos is shelling out a whopping $1 billion a year to fund the production of rockets and further research. In his opinion, there will be customers that pay for short periods of time in the gravity-free zone by the end of 2018.
Bezos defines his philanthropic strategy as donating to what is necessary here and now. While most of his tycoon counterparts focus on donating to problems that have to be fixed eventually in the long term, Bezos likes making an immediate impact with his money. He feels that his investments and companies are the aspect of his life that will make a long term impact. Most recently, Bezos gave $35 million to Seattle’s Fred Hutchinson Cancer Research Center and $1 million to the Reporter’s Committee for Freedom of Press.
In the past, Bezos has donated hundreds of millions to organizations such as Princeton University, University of Washington, Teach for America, the Oprah Winfrey Leadership Academy, and the Long Now Foundation. However, he has been criticized for amassing this monumental fortune while the median Amazon employe earn’s just $28,446 a year.
As you can see, the CEO & founder of one of the most influential companies today has quite a spending habit. In the end, he remains humble and is continuing to grow Amazon into a corporation with a focus on bettering the world.