Earning Rp. 197 Trillion a Day, Amazon Boss Revenue is Almost Equivalent to New Zealand GDP Page all

CANBERRA, KOMPAS.com – When other countries hoard debts due to spending amid a corona virus pandemic, boss Amazon Jeff Bezos instead it generates 19 billion Australian dollars, or more Rp. 197 trillion in one day.

The nominal income is almost equivalent to Gross Domestic Product (GDP) New Zealand.

Monday (7/20/2020) when technology stocks surged, Bezos’ net worth was estimated to rise 19 billion Australian dollars, bringing the total to 270 billion Australian dollars (Rp 2.8 quadrillion).

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With that much value, it means that Jeff’s income in a day is only slightly different from the amount New Zealand GDP that is, 20 billion Australian dollars (Rp. 207 trillion), obtained from sheared sheep, milked milk, and any other goods and services produced in this country of 4.8 million people a year.

The money Jeff gets in a day is equal to the Australian Government’s expenditure on school every year.

Amazon paid a two percent tax in Australia in 2018, with revenues of more than 1 billion Australian dollars (10.3 trillion IDR) and a tax bill of 20 million Australian dollars (207 billion rupiah).

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Last year, ABC reported hundreds of millions of dollars may have flowed abroad, namely to Luxembourg

In February, when Jeff Bezos’s wealth was far less, at 171 billion Australian dollars (1.7 billion rupiah), a man tried to visualize this amount using rice grains.

Another way to put this wealth in perspective is to compare it with the market value of famous big companies.

Jeff personally has more money than the market capitalization value of any Australian company, including the four big banks.

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He has enough money to buy Australian companies such as Telstra, Wesfarmers (owners of Coles, Bunnings and Kmart), Woolworths and BHP.

After buying all of that, he still still had enough money to buy the Australian national airline company, Qantas.

How can you have that kind of money?

Most of Bezos’s wealth comes from Amazon’s 11 percent ownership, the company he originally founded as a bookseller online in 1995.

Because millions of people have to stay at home to prevent the spread of Covid-19 disease, shopping requests online Amazon and service cloud computing jumped, so the company’s shares rose about 73 percent this year.

A study released this April by the Institute for Policy Studies found that 34 of the 170 richest billionaires “had seen their wealth increase by tens of millions of dollars” during the pandemic, including Jeff Bezos; Tesla / SpaceX CEO Elon Musk; Zoom founder Eric Yuan; and former Microsoft CEO Steve Ballmer

The report notes that “Jeff Bezos’s surge in wealth was unprecedented in modern financial history and varied greatly from day to day.”

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In the first 3.5 months of 2020, Jeff earned 36 billion Australian dollars (373.4 trillion rupiah) more than the GDP of Honduras, a country of 10 million people.

The increase of 19 billion Australian dollars that Jeff achieved was the biggest increase in anyone’s net worth in one day, since Bloomberg began to record changes in the daily wealth of the richest people in the world 8 years ago.

Only a few days earlier, UN Secretary General Antonio Guterres had stated that wealth inequality was a matter of “determining our time.”

“While we are all in the same sea, it is clear that some are on the latest release of the cruise ship, while others are holding on to floating debris,” he said.

Jeff is now 100 billion Australian dollars (Rp. 1 quadrillion) richer than a man who is synonymous with wealth, namely Bill Gates, or whoever is the next richest person on the list.

The report also warned that US billionaires might emerge from the pandemic as if nothing had happened.

One reason for this, the report said, was that they paid far less tax than before. Their tax burden has dropped 79 percent from 1980 to 2018.

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