When billionaire Jeff Bezos cut health benefits on September 13 for part-time workers at his grocery store Whole Foods the richest man in the world saved the equivalent of what he makes from his vast fortune in just a few hours.
That’s according to an analysis from Decision Data’s “Data in the News” series, which found that Bezos could cover the entirety of annual benefits for part-time employees who work less than 30 hours a week with what he makes from stocks and investments in just a fraction of a day.
“Doing a quick calculation with existing publicly available numbers shows that Bezos makes more money than the cost of an entire year of benefits for these 1,900 employees in somewhere between 2-6 hours,” the study says.
The analysis used an estimate that Whole Foods would contribute between $5,000 and $15,000 annually per employee for benefits. At the middle of that range, $10,000, that comes to $19 million a year.
Bezos makes just under $9 million an hour, according to a 2019 Business Insider analysis, which would mean he makes enough money in a little over two hours to cover the benefits he cut. Decision Data used an earlier study which found Bezos makes $4.5 million an hour to conclude he would need approximately four and a half hours to cover the cost.
“CEO worth more than $110 billion cuts health care for 2,000 workers after raking in $9 million an hour,” tweeted economist Robert Reich, citing the 2019 Business Insider figure.
The disconnect between Bezos’ wealth and the cost of the benefits was remarked on by a number of observers.
“Jeff Bezos makes $3,182 a second,” said Jacobin writer Luke Savage.
Presidential candidate and former Secretary of Housing and Urban Development Julián Castro called the move “shameful” and noted that Bezos’ crown jewel, online retailer Amazon, pays nothing in taxes.
“Amazon pays zero dollars in federal income taxes,” Castro tweeted. “Jeff Bezos is the richest man in modern history, and yet they continue to degrade the rights of their workers.”
Former acting CIA director explains why Trump’s inaction on Russian bounty scandal will make things worse
It was revealed nearly two weeks ago that the Russian government is paying a bounty to the Taliban for killing American soldiers.
Since then, President Donald Trump has denied that he and his administration didn't know anything about it. Then he claimed it was a hoax. Now it has become clear that the stories are not only true but that if Trump read his presidential daily briefing in 2019, he would have been aware of the problem.
Speaking to the House Thursday, Trump's former acting CIA director Michael Morell explained that things are being made far worse by the president's denial.
Here are 7 hilarious videos about wearing COVID-19 masks to send people who won’t wear them
While late-night shows are off for a Summer break, Americans are glued to TikTok and Twitter for their humor and every folks have delivered.
The latest trend is to mock fools who refuse to wear masks. While many people who refuse to wear a mask tuck their tails and sulk as they walk away, some take it to a whole new level of fury. Those precious souls are being mocked and shamed all around the world.
Here are seven videos that are hilarious or adorable that encourage wearing masks during the COVID-19 pandemic:
Wearing a mask is like wearing a lifejacket.https://twitter.com/mattbooshell/status/1280933495674732544
Trump tells Fox News the ‘Black Lives Matter’ sign on Fifth Avenue is like he’s being ‘prosecuted’
President Donald Trump appeared to reveal another quid pro quo during an interview with Fox News host Sean Hannity.
MSNBC's Lawrence O'Donnell pointed it out during an interview with Sen. Kamala Harris (D-CA).
"I was very nice to Mayor de Blasio. I got him ventilators when he needed them... I got him the gowns. I got him the masks. I got him everything. Then he throws a big Black Lives Matter sign right down in the middle of Fifth Avenue. I was so good to him and to Gov. Cuomo, like nobody's ever been good. And then all you end up doing out of that place is getting prosecuted."