Social media was lit up with comments this week following a report that Amazon founder and CEO Jeff Bezos could assume the first-ever title of "trillionaire" in the near future. 😒
While Bezos isn't flaunting his wealth online like 'Papa John,' he's been accumulating disturbing amounts of money in a time when many are struggling. A recent study from Comparisum is even pinning Bezos, 56, as the world's likely first trillionaire, estimating his net worth to hit $1 trillion by 2026.
This projection was deducted by taking the average percentage of Bezos' yearly net worth growth over the past five years and applying it to future years. Over the last five years, Bezos' net worth grew an average of 34% despite losing $38 billion in a 2019 divorce settlement with ex-wife MacKenzie Bezos.
Though the study itself isn't completely new, the eye-opening findings started to circulate on Twitter on Wednesday, leading many commenters to scorn the fact that Bezos is thriving as over 36 million Americans struggle to find work.
According to Bloomberg's Billionaires Index, Bezos' current net worth is roughly $143 billion. Bill Gates, the co-founder of Microsoft, is number two on the list with a $106 billion net worth, while Facebook founder and CEO Mark Zuckerberg is the third name with a net worth of $78.2 billion.
Zuckerberg could also potentially reach trillionaire status in 15 years when he's just 51 years old.
As residents across the country remain stuck in quarantine, Amazon is poised to emerge from the coronavirus pandemic in a favorable spot. In fact, sales for the e-commerce giant in the first three months of 2020 tallied $75 million, rising over 25% from the same period the year before.
Amazon has also hired 175,000 additional employees to meet demand sparked by the coronavirus, though CNBC recently reported the firm is planning to end wage increases and double overtime for frontline workers come June.
Those who find Bezos' ultra-rich position inappropriate reacted online by pointing to the underlying issue of income inequality that this news highlights.