- Jeff Bezos is the richest person in the world with a fortune around $130 billion.
- At a recent awards event hosted by Axel Springer, Bezos said he liquidates a whopping $1 billion in Amazon stock every year to fund Blue Origin.
- “You’re not going to spend it on a second dinner out,” Bezos said of his wealth.
At a recent awards event hosted by Axel Springer and Business Insider US editor-in-chief Alyson Shontell, Jeff Bezos suggested finding ways to “deploy this much financial resource” is harder than it seems.
The Amazon founder and CEO made an average of $107 million per day in 2017, a figure that’s unfathomable to most people. “[Y]ou’re not going to spend [this type of wealth] on a second dinner out,” Bezos said.
The value of $1 to the average person is the same as $1,355 to someone with a $2 billion net worth, according to Business Insider calculations. Bezos’ net worth is 65 times that amount; the value of $1 to the average person is about $88,000 to Bezos.
The only way he’s able to make good use of his wealth is to reinvest it into other businesses and make big bets, he said. Every year, Bezos liquidates a whopping $1 billion in Amazon stock to fund his space travel company Blue Origin.
“I am very lucky that I feel like I have a mission-driven purpose with Blue Origin that is, I think, incredibly important for civilization long term,” Bezos told Axel Springer CEO Mathias Döpfner.
But it’s not all business in the Bezos household. Part of his billions go toward “lots of pleasures,” including epic vacations with his family. Bezos’ wife MacKenzie planned a recent trip to Norway, he said, where the couple and their four children stayed in an ice hotel for three days and went dogsledding and saw timber wolves.
“It really was an incredible vacation, a pretty incredible holiday,” Bezos said. A once-in-a-lifetime vacation like that would probably require months, or even years, of saving for the average person to afford. For Bezos, it’s literally pocket change.
As for that $23 million mansion Bezos is renovating in Washington, DC – he’s reportedly spending $12 million on renovations, which is about $136 in Bezos dollars.
Below, check out the real cost of 12 purchases, and the relative “cost” for someone with a $2 billion fortune (the average net worth of the world’s billionaires).
Disclosure: Axel Springer is Business Insider’s parent company.