Amazon has been doing big business amid the coronavirus pandemic. However, for many customers in the United States, the site was down for about 15 minutes on Thursday afternoon. This may not seem like a big deal to the average person, but for billionaire Jeff Bezos he was losing millions by the minute.
How Much Did Jeff Bezos Lose In Amazon Site Crash?
While the issues on Amazon were resolved rather quickly, that does not mean the company did not lose money. Jeff Bezos reportedly lost $6.6 million while the site was down. You might need a minute to pick your jaw up off the floor because that is a massive amount of money. If that isn’t enough to shock you, Business Insider reported that Bezos makes $2,489 per second. This is more than twice what the median US worker makes in one week. And to break down the math even further, that’s $149,353 per minute. Amazon’s estimated revenue is over $443,000 per minute. Isn’t that insane?
One Twitter user could not believe how much Bezos lost in 15 minutes and followed up saying “Imagine if we didn’t shop there for a month?” Others simply could not calculate the math or didn’t care saying “The trillions can afford to not have gotten a few to several million during that time. What a pittance.”
According to the Bloomberg Billionaires Index, Bezos is mentioned as one of the five people who hasn’t lost money in 2020. Clearly that has all changed today. The Index ranks the world’s richest people and even with this loss, Bezos still tops the list.
Average People Make Way Less In Their Lifetime Than Jeff Makes Per Hour
The average person makes around $2 million in their lifetime. This is obviously without accounting for spending money on a house or necessities, paying taxes etc. Let’s just reiterate that Bezos lost more money in a span of 15 minutes than an average person would make in their entire lifetime. If you work out the math, an average American spending $1 is equivalent to Bezos spending $1.3 million. It’s quite ironic that the money that average people spend on Amazon is exactly the thing that makes Bezos richer. Some American’s are still making below or just about minimum wage so it really puts into perspective the disparity of wealth between billionaires like Bezos and others that are struggling to pay their bills.
In August 2019, several customers experienced a similar issue loading Amazon Prime Video. There’s nothing worse than not being able to binge-watch your favorite shows. The outage affected the website, mobile app and hosted AWS sites.
Bezos is still slated to become a trillionaire by the year 2026. So all in all its pretty safe to say that a few million dollars will not affect his wealth all that much because it continues to grow at a rate of about 34% each year.