On Tuesday, Amazon announced plans to increase the company’s minimum wage in the US to $15 — more than twice the federal minimum wage of $7.25.
Currently, the median annual worker pay at Amazon is $28,466.
But neither Amazon’s minimum wage increase nor the median annual worker pay is close to how much Amazon CEO Jeff Bezos — the world’s richest man, according to Forbes — makes.
We calculated the CEO’s annual earnings by finding the difference between Bezos’ 2017 and 2018 net worths (calculated in October of each year) as provided by the Forbes 400 list. But what does that translate to per month, or even per second? From his annual earnings, which we determined to be $78.5 billion, we then calculated how much Bezos earns in smaller time frames.
Business Insider previously calculated Bezos’ annual and hourly earnings using Forbes’ annual billionaire’s list, published every March, but we’ve updated these calculations using the latest Forbes 400 list, published on October 3.
This estimation of Bezos’ wages are being used for the sake of comparison. A large portion of his wealth is tied to Amazon stock, which can increase or decrease in value at any given time.
Read more starting with, ‘At the annual earnings rate Business Insider calculated’….