Jeff Bezos says Amazon is donating $690,000 to Australian bush fire efforts

Wealth

Jeff Bezos, founder and CEO of Amazon, pictured on September 13, 2018.

Bloomberg | Getty Images

Billionaire Amazon founder Jeff Bezos has been criticized over the company’s $690,000 donation to bushfire relief efforts in Australia.

In an Instagram post on Sunday, Bezos pledged 1 million Australian dollars ($690,000) on behalf of the tech giant.

“Our hearts go out to all Australians as they cope with these devastating bushfires,” he said. “Amazon is donating 1 million AU dollars in needed provisions and services.”

However, Amazon’s donation was met with backlash online, with many comparing the figure the firm was parting with to Bezos’ personal net worth.

Bezos has a net worth of $116.7 billion, according to Forbes, and according to a 2019 Business Insider analysis was earning almost $9 million an hour in 2018. Meanwhile, Amazon has a market capitalization of more than $930 billion.

The conglomerate’s move to help tackle the bushfires was also compared to other high-profile contributions, with many pointing out that a string of celebrities with far less personal wealth than Bezos had donated more out of their own pockets.

Marvel star Chris Hemsworth, whose net worth is estimated at $76 million, matched Amazon’s donation, while singer Pink, who Forbes says has a fortune of $57 million, pledged $500,000.

Billionaire Kylie Jenner has donated $1 million, while actress Bette Midler matched Pink’s donation and rock bank Metallica gave more than $500,000.

A spokesperson for Amazon was not immediately available for comment when contacted by CNBC.

Products You May Like

Articles You May Like

Trump wants second stimulus checks to be more than $1,200. Experts question whether that’s the right relief
Pharma giant Merck raises 2020 outlook, saying the worst of the coronavirus impact is behind it
U.S. weekly jobless claims rise for a second straight week, total 1.434 million
Clorox names longtime executive its new CEO, as company beats estimates on pandemic-led demand
From travel pods to private jets, affluent travelers are eager to make vacations happen

Leave a Reply

Your email address will not be published. Required fields are marked *