Jeff Bezos Is Now the World's Second Richest Person (bloomberg.com) 58
An anonymous reader quotes a report from Bloomberg: Jeff Bezos has leapt past Amancio Ortega and Warren Buffett to become the world's second-richest person. Bezos, 53, added $1.5 billion to his fortune as Amazon.com Inc. rose $18.32 on Wednesday, the day after the e-commerce giant said it plans to buy Dubai-based online retailer Souq.com. Bezos has a net worth of $75.6 billion on the Bloomberg Billionaires Index, $700 million more than Berkshire Hathaway Inc.'s Buffett and $1.3 billion above Ortega, the founder of Inditex S.A. and Europe's richest person. Amazon's founder has added $10.2 billion this year to his wealth and $7 billion since the global equities rally began following the election of Donald Trump as U.S. president on Nov. 8. The rise is the third biggest on the Bloomberg index in 2017, after Chinese parcel-delivery billionaire Wang Wei's $18.4 billion gain and an $11.4 billion rise for Facebook Inc. founder Mark Zuckerberg.
That's nice dear (Score:5, Insightful)
Why should I care?
Re: That's nice dear (Score:1)
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He owns the Washington Post for one thing, or have you not noticed how shit the paper is since he bought it?
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I read somewhere that Putin is worth something like $200 Billion.
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That's the rumor. But so was Qaddafi and he died in the street, shot & skewered, like a duck
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I wouldn't say he owns the USA, he just gets to appoint the president.
Pity he didn't pick one who speaks better English than he
Good for him? (Score:3)
Okay. He has a lot of money and owns something that's considered valuable. Good for him.
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Wealth is not equal to income. They certainly are related, but they are not the same thing.
I do not have a problem with taxation of gains from holdings. Given that there's usually no labor associated with holdings, if anything perhaps holdings should be taxed at a higher rate.
Re: Good for him? (Score:2)
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We have an asset tax based on real property. It's called property taxes. We also have taxes on some other goods that are based on transactions, like sales taxes, and in some places taxes on vehicles for registering for license plates that's based on a percentage of the vehicle's initial purchase price, depreciated over time. Thing is, if one documents one's purchases and all of the tax paid (ie, keeps receipts) one can deduct those taxes paid from one's federal income tax filing.
Taxing non-profit-making
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Cash Out (Score:2)
He better cash out. Alibaba makes Amazon look like a corner market. Buying Souq.com and making Kindles won't change that.
Re:Cash Out (Score:5, Informative)
That's some interesting alternative facts.
Amazon Revenue FY2016: $136 billion USD
Alibaba Revenue FY2016: $15.6 billion USD
Re:Cash Out (Score:5, Interesting)
Alibaba info here: http://alibaba.newshq.business... [businesswire.com] under Full Fiscal Year 2016 Operational and Financial Results
Amazon info here: https://www.sec.gov/Archives/e... [sec.gov]
Re: Cash Out (Score:1)
Where is an upvote button? Thanks for posting that
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From your own link, you clown:
In the quarter ended March 31, 2016:
Revenue was RMB 24,184 million (US$3,751 million), an increase of 39% year-over-year; China retail marketplaces revenue was RMB18,340 million (US$2,844 million), an increase of 41% year-over-year; and mobile revenue was RMB13,084 million (US$2,029 million), an increase of 149% year-over-year;
Annual active buyers on our China retail marketplaces increased to 423 million, an increase of 16 million over the prior quarter, while mobile MAUs in March reached 410 million, an increase of 17 million over December 2015;
GMV transacted on our China retail marketplaces was RMB742 billion (US$115 billion), an increase of RMB142 billion (US$22 billion), or 24% year-over-year, with mobile GMV accounting for 73% of total GMV;
Our cloud computing and Internet infrastructure business continued its rapid expansion, with revenue increasing 175% year-over-year to RMB1,066 million (US$165 million), representing an acceleration of the 126% year-over-year growth rate achieved in the prior quarter; and
Non-GAAP free cash flow was RMB4,388 million (US$681 million) in the quarter and RMB51,279 million (US$7,953 million) for fiscal year 2016.
Those number and that growth is making Amazon shake in their little booties.
Alibaba hasn't even TRIED to enter western markets. People in the west are seeking out Alibaba on their own accord. Most of the third party sellers on Amazon are in fact people who buy in bulk from Alibaba and relist on Amazon for double or triple the price.
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So... what you're saying is that Alibaba is tiny in comparison to Amazon but that it actually causes Amazon to be even more profitable than before?
Do you have a link to a video of Amazon shaking?
Re:Cash Out (Score:4, Insightful)
It's easier to have higher percentage growth when you're less than 1/10th the size of your competitor.
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He's cherry picking numbers. Amazon does 10x the revenue of Alibaba just from first-party sales.
He won't be for long (Score:2)
Several of us internet people have his e-mails and we know his cowardly acts committed in violation of the law.
And if he doesn't answer our questions, we'll ruin his ass with the lawsuit.
~I kicked EA's ass in court, Bezos is next with the way he treats employees. I have ten former workers on my side to testify.
All that money and yet... (Score:2)
Elon Musk is still going to beat him to Mars. ;)
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This is his overall wealth, not his income, and it has nothing to do with Amazon's profit. This is largely based on the amount of stock he owns and the current value of that stock. Same for Bill Gates.
Equity rally began before election (Score:4, Informative)
"Amazon's founder has added $10.2 billion this year to his wealth and $7 billion since the global equities rally began following the election of Donald Trump as U.S. president on Nov. 8."
The equities rally began on November 7th, the day before the election and the Monday after a two day Federal Reserve meeting on November 1-2nd.
https://www.federalreserve.gov... [federalreserve.gov]
During the Fed meeting, stronger language was made to suggest interest rate hikes coming in the future.
You will notice if you look at the markets, the Dow lept more on the Monday than the Tuesday of the election and Wednesday after the election. The climb of the stock market is nothing to do with politics and everything to do with the fact the markets had been waiting in a holding pattern for confirmation of rate changes for months prior.
In case anyone is wondering (Score:5, Informative)
Bill Gates is still enjoying the #1 position.
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