Jeff Bezos, the man who co-founded Amazon and today is the CEO and 12% shareholder in the highly profitable company, has a net worth of $118 billion. Just to make that a bit more visual, that’s $118,000,000,000. It’s a lot of money, anyway you look at it. Bezos is said to be the richest individual in the world. The world. Perhaps now we understand the source of the “Amazon smile”. Last year (2019) alone, Amazon posted $280 billion in revenue and $11.9 billion in profits. At least they will actually pay federal income tax for 2019, unlike 2018 when they paid $0 on $11 billion in profits.
Amazon is one of the few companies whose business has surged during this time of coronavirus pandemic. More and more people are ordering household supplies and even food that they cannot find in their local stores, or just to keep from having to spend much time in the local stores. Amazon announced last week that they will be hiring up to 100,000 additional workers to cover the increased demand. And yet …
Amazon maintains one of the stingiest paid sick leave policies among major corporations. To add insult to injury, Amazon under CEO Bezos is requesting donations from their customers to cover sick leave for their employees! Think on that one for a minute.
The man with more money than anybody deserves or needs, more money than he could possibly ever spend, is too cheap to fully cover his employees sick leave, but expects his customers, many of whom are currently laid off from their jobs, to pitch in.
As if that weren’t enough to make you want to dump a pan of hot berries on his bald pate, he also managed to profit ‘bigly’ by selling $3.4 billion in Amazon shares just before the stock market peaked in mid-February. Can we say, insider trading? Had he held onto those shares until this week, he would have lost $317 million … not that he’d even notice, for that’s pocket change for him.
I have been an Amazon customer since 2003, have a monthly standing order for household cleaning supplies, and frequently order other things we need, but … I’m going to start looking for alternatives. Today!