In fact, the monthly paycheck of the world's richest person, Amazon CEO Jeff Bezos, is barely bigger than that of a junior engineer at his company. The company had faced criticism for the wage gap between workers and C-suite executives, CNBC reported at the time. Read on for a look at how Bezos' wealth stacks up against a typical American worker, the Queen of England, and the oil-rich country of Qatar. These are not people who are sitting there doing tea and typing, she points out. Bezos probably didnt need any stock awards anyway, as he already owned almost 79 million Amazon shares (16 percent of the company) as a founder, worth over $100 billion. Based on the year-over-year change in his net worth, Bezos has made $152,207 per minute and $2,537 per second. However, despite Amazon's dominance, you may still be surprised at how much money Bezos makes a day or per second. Bezos doesn't need it - he already owns 16% of Amazon, a stake. I empower them to understand that they do know better, says Low-Kramen. We believe that all Company-incurred security costs are reasonable and necessary and for the Companys benefit, and that the amount of the reported security expenses for Mr. Bezos is especially reasonable in light of his low salary and the fact that he has never received any stock-based compensation, Amazon said in an SEC filing on Thursday. Low-Kramen is holding court during a sold-out day of lectures, lessons and discussions at the Sofitel Hotel in New York Citypart of a two-day workshop she conducts around the country called Be The Ultimate Assistant. Apple is facing numerous challenges, but Morgan Stanley analyst says there are reasons to buy the stock. The Amazon CEO's net worth took a hit of more than $10 billion in 2019 and he still didn't lose his spot as the world's richest person. SALT LAKE CITY Jeff Bezos is the richest person in the world, even though he makes $81,840 a year, CNN reports. By the time . It can be relentless on days, and the demands of such a job aren't for everyone. she was an administrative assistant who'd recently graduated from Yale. Bezos just asked Hiatt what her career goals were. She was my sounding board for sure during that time. They can pay a lower interest rate on their loans by borrowing against their stock holdings than they would normally have to pay through capital gains taxes when they sell their stock. On any given day, the net worth of Jeff Bezos can wobble up or down. Updated on: February 1, 2023 by Steve Bennett. He recently lost a quarter of that stake to his ex-wife, MacKenzie Bezos, as a result of their divorce. Amazon founder Jeff Bezos, on the other hand, had a salary of $81,840 in 2017still modest by CEO standards. as well as other partner offers and accept our. Life equips you for the challenges you face, it is a journey of self-actualisation and personal growth. The requests kept coming. Bezos' fortune currently stands at roughly $130 billion. For all of Amazons global compensated workforce other than Bezos, the median compensation last year was $28,848, making the CEO pay ratio 1 to 58. Bezos earned 58 times that in 2020, with an annual compensation of $1,681,840, the same as the year prior. Amazons stock surged more than 4% Thursday, for its third-straight record close, as the company benefited from a surge in e-commerce demand with the COVID-19 pandemic resulting in stay-at-home mandates. If you break it down further, the billionaire makes about $390 an hour, $6.56 a minute . Offers may be subject to change without notice. Copyright 2023 Market Realist. Her speakers have included Reggie Love, a former personal aide to Barack Obama; Zelda La Grange (Nelson Mandela); and Lauren Jiloty (Bill Gates and Hillary Clinton). Hes made that salary for the last 10 years, according to CNN. Theyre directly impacting the bottom line, and theyre not asking for things to compensate them for that.. This is the same base salary Bezos . Basically, Bezos doesnt need stock-based awards, given that he already owned 55,495,676 Amazon shares as of April 3, or 11.15% of the shares outstanding. The company has received criticism over its working conditions, especially for drivers, who have reported urinating in water bottles and defecating in bags when on the clock. Find out what youre really worth using tools like Glassdoor. ", Money is an inescapable issue for Low-Kramens students and people like them. Jeff Bezos is the founder and CEO of Amazon. Nobody asks us to do it. Learn how you can help create a productive, creative, and compassionate work culture. Lauren Jiloty Senior EA to Bill Gates, will also be sharing her story, offering advice on how to get to the top and stay there. What Jeff Bezos' Smart Take on Personal Branding Can Teach You About the Importance of Thought Leadership . Of this total $81,840 was received as a salary, $0 was received as a bonus, $0 was received in stock options, $0 was awarded as stock and $1,600,000 came from other types of compensation. They are career-driven and business savvy with a thirst for success and most importantly recognition. Presuming his wealth creation continues at a similar pace, Bezos will make the annual salary of one of Amazons newly minted $15/hour employees every 11.5 seconds. Since mid-October 2019, Bezos' fortune has grown by $80 billion. Also in Amazons proxy statement, the company disclosed that the median annual total compensation for its full-time U.S. employees was $36,640 in 2019, up 4.4% from 36,096 in 2018. After his mother divorced his father, she married Cuban immigrant Miguel . He thinks ahead, sweats the details, and makes things fun. . How to create the ultimate home office: Our top tips & tricks http://bit.ly/3YhseYr, YES this speaks to me! The data tells us the 15 best-paid CEOs in tech have a combined annual income of over $83bn - which is greater than the entire gross domestic product of hundreds of countries. Supporting executives at that level means mirroring them and knowing how to manage them. Executives assistants do a very tough job. At a cafe sipping on coffee? Full-time US workers also got an approximate $1,500 boost in 2019 from the year prior after the e-commerce giant raised its US minimum wage at the end of 2018 to $15 an hour. Bigger picture: Bezos still makes a lot of money. Amazon stock hits record high on hopes for a coronavirus-related boom, Need more to stream? Annual SalaryMonthly Pay25th Percentile$34,000$2,833. Heres how, Amazons Jeff Bezos and wife MacKenzie finalize divorce, Report: National Enquirer paid $200K for private Bezos texts, Fed raises interest rates by 0.5%, the highest rise since 2000, Here are the 14 inductees for the Rock & Roll Hall of Fame. He was accompanied by Mark Bezos, his brother, Wally Funk, an 82-year-old. His fortune has become so vast that it can be compared to the British monarchy and the GDP of entire countries. "Amazon CEO Jeff Bezos and his girlfriend, Lauren Sanchez, have weathered a tabloid scandal, a lawsuit, and maybe even interference from a foreign government. To see themselves in a different way, as a very powerful and influential set of eyes and ears.. We just do it, and we do it so well that they're going to ask us to do it again.. Personal information Jeff Bezos. While Bezos has handed over the keys to Andy Jassy, he remains as chairman and CEO. The assistant to the president of a private college says she specializes in office secrets and booking travel. Number of Investments 34. Break that down on an hourly basis and, assuming he makes money 24 hours a day, he increased his net worth by $19 million an hour in the past year. Other compensation, including the founders security and business travel expenses, add up to $1.6 million. I thought, Well, I guess I am. Six months after she told her manager that she hoped to be named chief of staff, she was promoted all the way to vice president of administration and given a 20% salary increase. Ann Hiatt was executive assistant to Jeff Bezos and Marissa Mayer, and chief of staff to Eric Schmidt. Copyright 2012-2019 Your Coffee Break Ltd. Made with love in London. However, we all know that isn't how much Bezos is truly making. (Left to right:) Lucy Brazier, Melba Duncan and Al-Husein Madhany are in the business of educating ambitious executive assistants on how to be better at what they do and encouraging them to seek higher compensation. Professional assistants from across the world will come together to experience two days of intensive training and motivation from the worlds most passionate speakers in the business. CEO Melba Duncan, former executive assistant to Lehman Brothers chairman Peter G. Peterson, says she first learns all about the executive in need, and once I understand the personality, the temperament, the behavior and the expectation, I then match that person with our candidate database., Landing a place on that database is no easy task. Amazon founder Jeff Bezos has a net worth of $1 billion, according to Bloomberg. Bezos has never taken a stock award, either, since he owns 16 percent of Amazon, which is worth $100 billion on its own, CNN reports. twice as rich as the entire British monarchy. In Amazons Jeff Bezos has made 34 investments. She credits her talent for balancing big hand gestures and a glass of red on her Cajun roots. and before that she was EA to Jeff Bezos (CEO of Amazon.com). If the US had introduced a moderate wealth tax in 1982 when the first Forbes 400 data on American billionaires was published his net worth at the time would have been about half that, or $86.8 billion, according to a September 2019 studypublished in Brookings Papers on Economic Activity. Amazon stock shot up almost 40-fold, sending Bezos's personal fortune above $12 billion. Amazon's founder and CEO, Jeff Bezos, whose "real-time" worth Forbes magazine estimates at roughly $188 billion, used the contribution to launch his Bezos Earth Fund. But then, Furlano says, I told him that it put me in the midrange for our industry. Amazon has done really well during the coronavirus pandemic. The Amazon headquarters' telephone number is 1-888-280-4331 or 1-206-266-1000 (Jeff Bezos). Some of the worlds most coveted gatekeepers are the women behind influential figureheads such as Nelson Mandela, Bill Gates and Eric Schmidt. The billionaire has pledged $10 billion toward climate programs under the Bezos Earth Fund. Visit Business Insider's homepage for more stories, a bachelor's degree from Princeton University. According to the Bloomberg Billionaires Index, Bezos total net worth of $140 billion as of April 15 made him the worlds richest person, well above Bill Gates, co-founder of Microsoft Corp., in second-place at $103 billion. The other billionaires in Bezos ranking are Tesla CEO and Dogecoin fan Elon Musk, Bernard Arnault, Bill Gates, and Meta's Mark Zuckerberg. However, Bezos is still doing pretty well for himself. Bezos, who has a bachelor's degree from Princeton University, makes $152,207 every minute, according to Business Insider's calculations. The Forbes website reports that Amazon shares make up 3% of its total. I wanted to do the job better, she says. In other words, he makes more in one week than the median Amazon worker. All Rights Reserved. There are six college degrees that left graduates earning a median salary of $40,000 . Hiatt studied up on the Amazon and cited several of the company's goals and initiatives, which aligned with her career goals. Nobody is going to say you did a great job. Nearly 11 jobs per 1,000 in San Francisco are executive assistants, according to the Bureau of Labor Statistics. Often, the changes are enormous. The billionaire also sells his Amazon shares from time to time to raise money for other projects. The British royal family was worth an estimated $88 billion in 2017, according to Forbes. Subscribe to Observers Business Newsletter. By clicking Sign up, you agree to receive marketing emails from Insider The average American man with a bachelor's degree will earn about $2.2 million in his lifetime, according to the Social Security Administration, and the average American woman with a bachelor's degree will earn $1.3 million in her lifetime. Jeff Bezos' annual salary was $81,840, but his total compensation totaled $1,681,840 when including "things like security . Shaw, moving to Seattle and founding Amazon in a home garage in 1994. He's made that salary for the last 10 years, according to CNN. What is Jeff Bezos personal assistant salary? He wanted to see how meticulous his potential assistant could be. The students who take that course are mostly working assistants looking to up their game. Personal Life. How much money does Jeff Bezos actually have in his bank account? Here are a Few Tips to Get You Started, 39 Questions to Make Small Talk With Anyone, How Working Remotely Can Increase Happiness. Though Bezos' annual salary is only $81,840, most of his wealth comes from his Amazon shares. Though it might be a tall order for Jeff Bezos to give a raise to all of Amazons 575,000 employees worldwide, increasing the hourly minimum for the lowest-paid 350,000 in Amazons home country is a good place for the richest man on the planet to start. Read more: Amazon logistics salaries revealed: Here's what workers bulking out Amazon's supply chain make, from entry-level analysts to senior management. Being an assistant to Jeff Bezos also proved to be a great steppingstone because Hiatt went on to work for other Silicon Valley legends as a Chief of Staff. Having already sold 16 billion dollars of bonds for the purpose of acquiring Whole Foods Market Inc., the company is now preparing to issue more bonds in 2018. He says that in cities like San Francisco and New York annual compensation for experienced assistants can reach $500,000, but most are in the high five figures and are undervalued for their hours and work. Bezos is Amazons top shareholder with a stake of more than 11 percent, which translates to $179 billion at Amazons market capitalization of about $1.63 trillion. From 1998 to 2021, Bezos earned a base salary of $88,840, with additional compensation bringing the total to more than $1.6 million each year. Amazon adds some free HBO content, no Prime Video required. Based on the year-over-year change in his net. NOW WATCH: WATCH: Day of the Dead saw muted celebrations this year in Mexico, where 91,000 have died from COVID-19, Amazon logistics salaries revealed: Here's what workers bulking out Amazon's supply chain make, from entry-level analysts to senior management, urinating in water bottles and defecating in bags. The regulations of FLSA undoubtedly mentioned that any executive assistant who is assisting "a senior executive of a big organization or business owner" is qualified as exempt. When they say, Im a level-four assistant, everybody understands what that means. Brazier, 50, is another self-made expert on executive assistants. (Video: Reuters) Jeff Bezos's Blue . His wife, MacKenzie, was its accountant. It motivated employees who feared for their jobs as well. first person in history to be worth $200 billion. As Chief Executive Officer, Director at AMAZON COM INC, Jeffrey P. Bezos made $1,681,840 in total compensation. The key is to remain humble and grounded and realize that you always have something to learn. +3.51% The fund, which . Bezos total compensation last year, which includes no stock awards, was $1.68 million. Bezos received an $81,840 salary and $1.6 million in other compensation from the company last year, according to Business Insider. In his final letter to shareholders as CEO, Bezos wrote that, "Two and a half years ago, when we set a $15 minimum wage for our hourly employees, we did so because we wanted to lead on wages not just run with the pack and because we believed it was the right thing to do." Amazon adds some free HBO content, no Prime Video required, Medicare just crushed the hopes of 750,000 Alzheimers patients a year. As a result of his successful business ventures, he is one of the world's richest people. When looking at Bezos' spending power compared to a typical American household, the comparison is stark. Jrg Carstensen/picture alliance via Getty Images, Susan Walsh/AP; Joshua Roberts/Reuters; Axel Schmidt/Getty Images. Theyre schooled on how business organizations worktricks like adopting various social styles to be persuasive and strengths like the ability to say no to a CEOs face. She kept a 4% stake in Amazon, which now makes her the third-richest woman in the world. The Amazon headquarters' telephone number is 1-888-280-4331 or 1-206-266-1000 (Jeff Bezos). To her credit, she had done her "homework" and studied the company. That included $1.6 million in security services for Bezos, in addition to the security arrangements provided at the companys facilities and for business travel. Jeff Bezos buys $500M superyacht amid luxury industry boom The voluptuous Sanchez, a former anchor for Fox News in Los Angeles, was by Bezos' side for the ninth test flight of the "New. Working for Bezos, though, doesn't come without any downsides. You might start by approaching The Duncan Group, a New York-based search firm that places top-level assistants with CEOs and wealthy families, charging 30% of a first years salary that averages between $125,000 and $150,000. Jeff surely was making a nice salary at the . Photo courtesy byCareer-Intelligence // Going for a walk? In fact, his base salary in 1998 was $81,840. Their latest investment was Angel Round - HempNFibers on Oct 9, 2022, when. Combining tips of the trade, tech pointers and Tony Robbins-type affirmations, she seeks to boost both the know-how and spirits of her students, who include top-level assistants, administrative staffers for companies and government, and household managers for super-wealthy families whose identities theyve sworn to conceal. Most of Bezos wealth is tied to his shareholding in Amazon. Net Worth: $123.70 Billion: Name: Jeff Bezos : Salary: $185,000 + Monthly Income: $16000 + Even businesses that appear successful on the surface will not endure if they do not create value for those they touch. The first thing to know, Bonnie Low-Kramen tells a full conference room, is that you are not secretaries. In fact, Bezos' fortune is comparable to the GDPs of entire countries. Based on current stock prices, the value of his stockholdings exceeded $133 billion. Facebook is due to release 2018s executive compensation figures later this month. To reach Jeff Bezos by email, write to [emailprotected] If you have any questions, you can contact me at [emailprotected] com. Tom Cruise is enjoying the fruits of his success! For more than 20 years, John Connors has served as Jeff Bezos' executive assistant. Currently, Andy Jassy, formerly the CEO of Amazon Web Services, is the CEO. That means Bezos salary was just 2.2 times that of the median U.S. full-time employee, while his total compensation was 45.9 times. From 1998 until 2021, Bezos' base salary of $81,840 has remained the same. He continues to rank among the worlds top billionaires even after stepping down as Amazon CEO in 2021. var sharebutton_is_horizontal = false; document.write('