Title Title
Fact check: Does Jeff Bezos make more in 10 seconds than median Amazon employee in a year? Fact check: Does Jeff Bezos make more in 10 seconds than median Amazon employee in a year?
Summary Summary
WikiTribune is fact checking a claim made by Bernie Sanders about what Amazon's owner makes compared to the company's employees WikiTribune is fact checking a claim made by Bernie Sanders about what Amazon's owner makes compared to the company's employees
Highlights Highlights
Content Content
Bernie Sanders <a href="https://mobile.twitter.com/BernieSanders/status/1032069466052538368">tweeted</a> on August 21 that Amazon founder, chairman, and CEO Jeff Bezos makes more money in ten seconds than the median employee of his company does in year.  Bernie Sanders <a href="https://mobile.twitter.com/BernieSanders/status/1032069466052538368">tweeted</a> on August 21 that Amazon founder, chairman and CEO Jeff Bezos makes more money in ten seconds than the median employee of his company does in year.
[contribute-c2a text="WikiTribune is fact checking this claim. You can edit or expand this story" buttons="edit"] [contribute-c2a text="WikiTribune is fact checking this claim. You can edit or expand this story" buttons="edit"]
https://twitter.com/BernieSanders/status/1032069466052538368?s=20 https://twitter.com/BernieSanders/status/1032069466052538368?s=20
<strong>Claim:</strong> <strong>Claim:</strong>
In ten seconds, Jeff Bezos makes more money than the median employee of Amazon does in a year. In ten seconds, Jeff Bezos makes more money than the median employee of Amazon does in a year.
[contribute-c2a text="You can edit or expand this story" buttons="edit"] [contribute-c2a text="You can edit or expand this story" buttons="edit"]
<strong>Fact check:</strong> <strong>Fact check:</strong>
Bezos received $1,681,840 (€1,455,608) as annual compensation in 2017 (<a href="https://www1.salary.com/Jeffrey-P-Bezos-Salary-Bonus-Stock-Options-for-Amazon-Com-Inc.html"><em>salary.com</em></a>). Of this $81,840 was base pay and $1.6 million in other forms. Bezos received $1,681,840 (€1,455,608) as annual compensation in 2017 (<a href="https://www1.salary.com/Jeffrey-P-Bezos-Salary-Bonus-Stock-Options-for-Amazon-Com-Inc.html"><em>salary.com</em></a>). Of this $81,840 was base pay and $1.6 million in other forms.
The billionaire owns 16 per cent of electronic commerce company <a href="https://en.wikipedia.org/wiki/Amazon_(company)">Amazon</a>. With the increase of Amazon's stock price, his net worth rose $40 billion in first five months of 2018, an average of $30,000 every 10 seconds. This is more than the <a href="http://time.com/money/5301812/jeff-bezos-net-worth-2018-amazon-worker-salary/">$28,446 the median-earning Amazon worker</a> worldwide makes in a year (<em>Time</em>). The billionaire owns 16 per cent of electronic commerce company <a href="https://en.wikipedia.org/wiki/Amazon_(company)">Amazon</a>. With the increase of Amazon's stock price, his net worth rose $40 billion in first five months of 2018, an average of $30,000 every 10 seconds. This is more than the <a href="http://time.com/money/5301812/jeff-bezos-net-worth-2018-amazon-worker-salary/">$28,446 the median-earning Amazon worker</a> worldwide makes in a year (<em>Time</em>).
Note that the $40 billion is not money Bezos made the same way one earns a salary but rather the increase in the price the market was willing to pay for his company. In other words, it's the increase in the amount he could potentially make if he sold his Amazon shares at market price. Note that the $40 billion is not money Bezos made the same way one earns a salary but rather the increase in the price the market was willing to pay for his company. In other words, it's the increase in the amount he could potentially make if he sold his Amazon shares at market price.
[contribute-c2a text="Something missing from the story? Say so" buttons="talk"] [contribute-c2a text="Something missing from the story? Say so" buttons="talk"]
Categories Categories
Business Current Affairs, Internet, Technology, United States, Business
Article type Article type
developing developing
Tags Tags
Author byline Author byline
Yes Yes
Has hero Has hero
No No
Hero Alignment Hero Alignment
full No
Hero Image URL Hero Image URL
None None
Featured Image URL Featured Image URL
Sources Sources
<p><a href="https://www1.salary.com/Jeffrey-P-Bezos-Salary-Bonus-Stock-Options-for-Amazon-Com-Inc.html">“Jeffrey P. Bezos – Executive Compensation”, salary.com</a></p> <p><a href="https://www1.salary.com/Jeffrey-P-Bezos-Salary-Bonus-Stock-Options-for-Amazon-Com-Inc.html">“Jeffrey P. Bezos – Executive Compensation”, salary.com</a></p>
<p><a href="http://time.com/money/5301812/jeff-bezos-net-worth-2018-amazon-worker-salary/">“Jeff Bezos Is Already $40 Billion Richer This Year—While the Typical Amazon Worker Has Made Just $12,000”, time.com</a></p> <p><a href="http://time.com/money/5301812/jeff-bezos-net-worth-2018-amazon-worker-salary/">“Jeff Bezos Is Already $40 Billion Richer This Year—While the Typical Amazon Worker Has Made Just $12,000”, time.com</a></p>
<p><a href="https://www.forbes.com/profile/jeff-bezos/">“Jeff Bezos – CEO and Founder, Amazon.com”, forbes.com</a></p> <p><a href="https://www.forbes.com/profile/jeff-bezos/">“Jeff Bezos – CEO and Founder, Amazon.com”, forbes.com</a></p>
<p><a href="https://finance.yahoo.com/quote/AMZN/">“Amazon.com, Inc. (AMZN)”, finance.yahoo.com</a></p> <p><a href="https://finance.yahoo.com/quote/AMZN/">“Amazon.com, Inc. (AMZN)”, finance.yahoo.com</a></p>

Subscribe to our newsletter

Be the first to collaborate on our developing articles

WikiTribune Open menu Close Search Like Back Next Open menu Close menu Play video RSS Feed Share on Facebook Share on Twitter Share on Reddit Follow us on Instagram Follow us on Youtube Connect with us on Linkedin Connect with us on Discord Email us