Fact check: Does Jeff Bezos make more in 10 seconds than median Amazon employee in a year?

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Bernie Sanders tweeted 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.

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Bernie Sanders on Twitter

Count to ten. In those ten seconds, Jeff Bezos, the owner and founder of Amazon, just made more money than the median employee of Amazon makes in an entire year. An entire year.

Claim:

In ten seconds, Jeff Bezos makes more money than the median employee of Amazon does in a year.

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Fact check:

Bezos received $1,681,840 (€1,455,608) as annual compensation in 2017 (salary.com). Of this $81,840 was base pay and $1.6 million in other forms.

The billionaire owns 16 per cent of electronic commerce company Amazon. 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 $28,446 the median-earning Amazon worker worldwide makes in a year (Time).

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.

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