Jeff Bezos bought the most expensive property in LA with an eighth of a percent of his net worth
It’s impossible to conceptualize how much money Bezos has
www.theverge.com
According to The Wall Street Journal, Amazon founder Jeff Bezos has reportedly just bought the most expensive property in Los Angeles from David Geffen, another unimaginably wealthy man, for $165 million. (It's the Warner Estate, which spreads out over nine acres in Beverly Hills.) That's a wild amount of money for anything — I mean, aside from a 747? — but especially for a place you might presumably live in. (Bezos spent around $80 million on a few New York apartments earlier this year, so it's not clear where his five-foot, seven-inch frame will primarily reside.) For context, $165 million is an eighth of a percent of Bezos' $131.9 billion net worth.
The Warner Estate was designed in the 1930s for Jack Warner, who was the former president of Warner Bros.; it took a decade to construct, and has terraces, guest houses, a tennis court, and a golf course. That's a lot of house. Dang!
I'm curious how much Bezos paid on his taxes considering his company is great at avoiding them.
It is probably important to note here that Amazon paid zero dollars in federal income tax on $11 billion in before-tax profit in 2018; this year, it will pay out $162 million on $13.3 billion in profit — a whopping 1.2 percent effective tax rate.