Jeff Bezos could become world’s first trillionaire by 2026

[Hamartia Antidote]

https://nypost.com/2020/05/14/jeff-bezos-could-become-worlds-first-trillionaire-by-2026/

Amid the collapsing economy due to the coronavirus pandemic, Jeff Bezos is expected to come out smelling like a rose — and reach the exalted status of the world’s first trillionaire, according to research.

The Amazon founder — whose fortune is estimated at $143 billion, up from $125 billion on April 12, according to the Bloomberg Billionaire’s Index — was trending on Twitter after recent research suggests he could achieve that feat by 2026.

The e-commerce giant’s sales topped $75 billion in the first quarter, driven by spiking demand during the pandemic that has kept people at home and depending on at-home delivery services, according to Marketwatch.

Comparisun, a small-business advice platform, said it analyzed market capitalization of the 25 highest-valued companies on the New York Stock Exchange according to Macrotrends, and the net worth of the world’s 25 richest people according to Forbes.

It then calculated the average yearly percentage growth over the last five years and applied that growth rate to come up with an idea of how that value would change in the future, according to the report.

Bezos, who owns an 11 percent stake in Amazon, has been the world’s richest person since 2017. He also is one of the world’s five richest people who hasn’t lost money this year as a result of the coronavirus pandemic, according to Esquire.

If his net worth does reach $1 trillion, he’d be worth more than the individual GDPs of 179 countries with a combined population of 3.4 billion — 43.7 percent of all humans alive, the outlet reported.

It’s also worth noting that Bezos also had to relinquish much of his wealth to his wife from a divorce proceeding last year.

 

[tower9]

How does that help the average American? The future is very scary. As automation and AI take hold, these tech billionaires will gobble up all of the wealth and the average American worker will be out of a job.

 

[ZeEa5KPul]

How does that help the average American? The future is very scary. As automation and AI take hold, these tech billionaires will gobble up all of the wealth and the average American worker will be out of a job.

Who cares? The average American is just livestock. Correction: he was livestock, with the tech revolution making him worthless he's now just a parasite.

 

[Philosopher]

There is a large gulf of difference between could and will. All this is just based on the assumption the growth trend will continue for him.

How does that help the average American? The future is very scary. As automation and AI take hold, these tech billionaires will gobble up all of the wealth and the average American worker will be out of a job.

That is why the average person should make it a priority to attain financial freedom and not always rely on others giving them a job. Business can be a brutal battle ground seemingly devoid of moral and ethics. I cannot really fault the likes of Bezos for what they are doing. At end of the day, he is just pursuing his own business goals, it is not his responsibility to continue creating jobs for people. It is the public representatives i.e the governments that should be protecting the interest of their people. In the end, even governments in capitalistic societies can do so much, it is up to the average person to make a difference in their own lives. I understand not everyone has the same ability to become entrepreneurs and so on, but I always remember this: "Build your dreams, or someone will hire you to build theirs".

 

[Hamartia Antidote]

How does that help the average American? The future is very scary. As automation and AI take hold, these tech billionaires will gobble up all of the wealth and the average American worker will be out of a job.

That's true in all countries. We don't have a monopoly on that problem. Plus Amazon is worldwide. It's not like he's pocketing money from only Americans.

 

[Secularindian]

How does that help the average American? The future is very scary. As automation and AI take hold, these tech billionaires will gobble up all of the wealth and the average American worker will be out of a job.

Average Americans Makes 5 times of an average Chinese And 25 times of Indian

So we should worry about our population first

 

[tower9]

That's true in all countries. We don't have a monopoly on that problem. Plus Amazon is worldwide. It's not like he's pocketing money from only Americans.

Yeah it is true worldwide, that's why the future is fucked up for the middle class and poor.

There is a large gulf of difference between could and will. All this is just based on the assumption the growth trend will continue for him.



That is why the average person should make it a priority to attain financial freedom and not always rely on others giving them a job. Business can be a brutal battle ground seemingly devoid of moral and ethics. I cannot really fault the likes of Bezos for what they are doing. At end of the day, he is just pursuing his own business goals, it is not his responsibility to continue creating jobs for people. It is the public representatives i.e the governments that should be protecting the interest of their people. In the end, even governments in capitalistic societies can do so much, it is up to the average person to make a difference in their own lives. I understand not everyone has the same ability to become entrepreneurs and so on, but I always remember this: "Build your dreams, or someone will hire you to build theirs".

Absolutely agreed but with less opportunities you can only do so much. In the future, the threshold will be set higher and higher and you will need a lot of capital just to start a business when having automated robots will be a necessary requirement.

 

[Hamartia Antidote]

Yeah it is true worldwide, that's why the future is fucked up for the middle class and poor

As cruel as it sounds people like Bezos are using money to move technology and humanity forward.

Feeding the masses just maintains the status quo.

 

[tower9]

As cruel as it sounds people like Bezos are using money to move technology and humanity forward.

Feeding the masses just maintains the status quo.

Yeah so basically unlike the prior industrial revolutions, the next stage of technological development will basically need far less workers and far less humans. The average human will be fucked as tech giants swallow up most of the world's business and profits.

 

[Hamartia Antidote]

Yeah so basically unlike the prior industrial revolutions, the next stage of technological development will basically need far less workers and far less humans. The average human will be fucked as tech giants swallow up most of the world's business and profits.

Swallowing up other companies has been going on for ages. That's why there isn't 10,000 car companies.

 

[Philosopher]

Absolutely agreed but with less opportunities you can only do so much. In the future, the threshold will be set higher and higher and you will need a lot of capital just to start a business when having automated robots will be a necessary requirement.

Unfortunately this is correct, not everyone is born into the same financial level. Many people will find it much harder to obtain such financial freedom, but nevertheless, they should make it their goal. With regards to robotic technologies, I think people will have no choice but to adapt to that new reality. Just like people had to do so with the arrival of the industrial evolution. Automations can actually be a blessing. For example, in the next few years I will hopefully start my own business, and in my area of interest (like many others), staff costs is the biggest cost to the business. Should automation become cheap enough, it will be a no brainer for people like me. Yes there are limitations to this and yes it does raise a moral issue of increasing unemployment, but unfortunately life is not fair. These waves come and we have no choice but to try and ride with them.

 

[Prince Kassad]

He's only at like 150B. It's a lot, but the article is misleading; there's a LOT of distance between him and a trillion. assuming Amazon stock grows 36% per year, every year, for the next six years.

Note that that's higher than 4 of the last 5 and 6 of the last 10 years, so that's pretty aggressive.

 

[Hamartia Antidote]

Unfortunately this is correct, not everyone is born into the same financial level. Many people will find it much harder to obtain such financial freedom, but nevertheless, they should make it their goal. With regards to robotic technologies, I think people will have no choice but to adapt to that new reality. Just like people had to do so with the arrival of the industrial evolution. Automations can actually be a blessing. For example, in the next few years I will hopefully start my own business, and in my area of interest (like many others), staff costs is the biggest cost to the business. Should automation become cheap enough, it will be a no brainer for people like me. Yes there are limitations to this and yes it does raise a moral issue of increasing unemployment, but unfortunately life is not fair. These waves come and we have no choice but to try and ride with them.

I'm sure you'll agree if you feel socially responsible to NOT automate.. your competitor without those same reservations is likely to put you out of business.

Nice guys finish last.

 

[Philosopher]

I'm sure you'll agree if you feel socially responsible to NOT automate.. your competitor without those same reservations is likely to put you out of business.

Nice guys finish last.

Definitely. In business you have to brutally pursue your goals. Game changing technologies like robotics leave you no option. You either have to adapt or be left behind.

 

[FairAndUnbiased]

As cruel as it sounds people like Bezos are using money to move technology and humanity forward.

Feeding the masses just maintains the status quo.

Bezos isn't at the forefront of automation in ecommerce right now. He's still keeping Amazon warehouses filled with low wage contract workers because they're cheap enough.