Amazon founder and CEO Jeff Bezos is already a billionaire and the richest person in the world. But a recent study is now predicting that he could become a trillionaire in the next several years.
This news has angered a lot of people, as Amazon looks to be benefitting from the current coronavirus pandemic while cutting back on benefits for the company’s workers.
Jeff Bezos To Become A Trillionaire
A study by Comparisun revealed that Jeff Bezos could become the world’s first trillionaire by 2026. The site points out that, although he lost $38 billion in his divorce last year, his net worth has grown by an average of 34 percent over the last five years.
Bezos’ current net worth is $143.7 billion, according to Forbes. Many people believe this is already too much money for one person to have. In the past, Bezos has been criticized for not donating enough of his fortune to important causes. For instance, he was slammed for donating less than $700,000 to Australia during the wildfire crisis.
Some also take issue with how Amazon’s employees are being treated, particularly during the current pandemic. According to Complex, Amazon sales in the first three months of the year were over $75 million, compared to $60 million last year. Unlike many other businesses, Amazon seems to be thriving in the midst of the pandemic.
Amazon Workers Fight For Rights During COVID-19
Some Amazon workers have staged walkouts and protests over working conditions during the COVID-19 crisis. Two employees were fired after speaking out. The New York state attorney general reportedly said Amazon provided “inadequate” protections to warehouse workers in the state.
Now CNBC reports that Amazon is ending wage increases and double overtime pay for workers in June. “We are grateful to associates supporting customers during a time of increased demand, and are returning to our regular pay and overtime wages at the end of the month,” a spokesperson said.
The company has also faced criticism for ending its unlimited unpaid time off policy, which allowed employees to stay home without pay and not face penalties. Meanwhile, cases of COVID-19 have been reported at 19 Amazon warehouses around the country.
In response to news of Bezos potentially becoming a trillionaire, people on Twitter called him “evil” and condemned his “atrocious greed.” Others argued that no one should be a billionaire or a trillionaire. What do you think? Let us know in the comments.