Business

Amazon’s Australia donation is less than Jeff Bezos makes in 5 minutes

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In a heartfelt Instagram post on Sunday, Amazon CEO Jeff Bezos announced that the company would donate 1 million Australian dollars, or about $690,000, to the Australian wildfire recovery effort.

That’s less than he made every five minutes in 2018, according to a Business Insider estimate based on Bezos’ net worth as reported by Forbes.

Wildfires have devastated Australia since late July, killing at least 28 people and burning more than 2,000 homes. In a blog post, Amazon said it would channel the money to relief agencies helping victims and restoring wildlife.

The internet was quick to criticize the size of Amazon’s donation, noting that it represented a tiny fraction of Amazon’s $936 billion market cap. Facebook has said it will donate 1.25 million Australian dollars, and celebrities including Kylie Jenner have pledged larger donations than Amazon. One woman said she raised nearly double what Amazon pledged by selling nude photos online.

Bezos makes roughly $78.5 billion per year, which breaks down to more than $215 million a day, or $149,353 per minute. That figure is an estimate based on how much his net worth grew from 2017 to 2018 and doesn’t reflect Bezos’ exact salary from Amazon. Much of Bezos’ wealth is tied to Amazon stock, which fluctuates in value.

An Amazon representative did not immediately respond to a request for comment.



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