Jeff Bezos retires 739,489 times richer than average American

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When Jeff Bezos steps down Monday as Amazon’s CEO at age 57, he will carry with him an estimated $197 billion — a staggering fortune that is 739,489 times the median net worth of an American at age 65.

That median net worth is $266,400, Business Insider reported, citing data from the
Federal Reserve.

Amazon announced in February that Bezos would step down this year and assume the mantle of executive chairman of the e-commerce giant’s board.

He is expected to dedicate more time toward initiatives like the Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post and the Amazon Day 1 Fund, CNBC reported.

Bezos received an $81,840 salary and $1.6 million in other compensation from the company last year, according to Business Insider.

His net worth exploded by $75 billion during 2020 as the COVID-19 pandemic drove sales into the stratosphere on his company’s online marketplace, sending shares skyward.  

Jeff Bezos.Jeff Bezos’ net worth skyrocketed as Amazon purchases increased during the pandemic.APJeff Bezos.Jeff Bezos has faced criticism for his wealth as Amazon workers live on food stamps and toil in poor conditions.AP

Bezos, who makes more money every second than the average American worker makes in a week, has drawn criticism for getting richer while thousands of Amazon workers live on food stamps and toil in poor conditions.

He will be replaced by Andy Jassy, current CEO of Amazon Web Services, the company’s cloud platform.