New Delhi. Not everyone knows what is the salary of Jeff Bezos, one of the richest people in the world. But people definitely want to know. Amazon founder Jeff Bezos has now revealed this secret himself. He told that as the founder of Amazon, he takes a nominal salary of only $ 80,000 (about Rs 67 lakh) every year and there has been no change in his basic salary since 1998. Despite this, Bezos topped the list of the world’s richest people. Let us tell you that till October 2024, Jeff Bezos was the richest person in the world, until Elon Musk overtook him.
In an interview given to The New York Times, Bezos said that his decision to keep the salary low was deliberate. He said that I am the founder. They already own a large share of the company and do not feel comfortable taking a higher salary.
Why do they take less salary?
Bezos also explained the reason behind keeping the salary low. He said in the interview that he has a large stake in Amazon, hence there was no need for additional salary. Even though his official salary is modest, Bezos has earned millions from Amazon shares. According to a report by Inc.com, between 2023 and 2024 alone, he made $8 million every hour from his stocks.
In the year 2021, Bezos stepped down from the post of CEO of the company and after this Bezos gradually sold some parts of his Amazon stock. A report by Fortune suggests that he is planning to sell 25 million shares by the end of 2025. Still, Bezos did not ask for additional allowances from Amazon’s compensation committee. He expressed pride in his decision and said that taking more compensation would have been uncomfortable.
Even ProPublica’s 2021 review report states that Bezos did not pay any federal income taxes in 2007 and 2011. The report says that Bezos actually reported investment losses in excess of his salary, which helped him avoid taxes during those years.
This practice of profiting from stocks by keeping their official salary low is common among billionaires and also reduces their responsibilities. This method of saving tax has become a matter of debate. However, Bezos defended his stance, saying that his wealth from Amazon stock already gives him a lot of incentives, so the decision to take a lower salary reflects his sense of responsibility.
Tags: Amazon CEO, Business news, Jeff Bezos
FIRST PUBLISHED : December 17, 2024, 2:41 PM IST
