According to The Wall Street Journal, Founder of Amazon, Jeff Bezos Reportedly just bought the most expensive property in Los Angeles from David Geffen, another incredibly rich man, for $ 165 million. (It’s the Warner Estate that spans nine acres in Beverly Hills.) That’s a wild amount of money for everything – I mean apart from a 747? – but especially for a place where you probably live. (Bezos spent around $ 80 million earlier this year on a few apartments in New York, so it’s not clear where his five-foot, seven-inch frame will primarily reside.) For the context, $ 165 million is an eighth percent of it Bezos’ net assets of $ 131.9 billion.
The Warner Estate was designed in the 1930s for Jack Warner, who was the former president of Warner Bros. it took ten years to build, and has terraces, guest houses, a tennis court and a golf course. That’s a lot of house. Dang!
It is literally impossible to imagine how rich the richest people on earth are. The difference between their bank accounts and yours – yes, you, the person reading this – is that they can spend the monthly interest on their property and buy things like planes and islands. It is probably important to note that Amazon has paid zero dollars in federal income tax on $ 11 billion pre-tax profit in 2018; this year it pays $ 162 million on $ 13.3 billion profit – a whopping 0.012 percent effective tax rate.
America is traditionally ruled by men like this, who own businesses and utilities – for example, Amazon Web Services is where much of the internet runs – and that’s why you probably paid more of your income in taxes than Jeff Bezos ever did . I hope that the purchased palace of Bezos is comfortable, but I also hope that it is full of evil spirits.