How did the 2008 recession affect Jeff Bezos net worth?

For Amazon founder and CEO Jeff Bezos, 2018 follows up with a great 2017. His net worth gained $40 billion during the year. His personal and base salary is only $81,840 per year, but it is the stock prices that increases his wealth.

Although there was a recession in 2018, he happened to do well as a result of the growth of value in Amazon stock. Although recessions affect all companies negatively including Amazon, the stock increase was sufficient for him to do better financially. His upward financial trend continued in 2018 just as in 2017.

Directly due to stock prices, Jeff Bezos’ net worth increased by $10 billion just during the first two weeks of 2018. By March, he had increased about $30 billion. According to some calculations, he was making $230,000 per minute.

The recession hit a lot of companies in the year 2008 and this includes Amazon. All of the major companies suffered because people stopped purchasing items from them. How will they purchase when they are not getting any money. They do not see the point of purchasing items when they have to struggle to find money to make ends meet. After that year, Amazon decided to try selling Kindle which was a big hit to people.

Even if people were still struggling at that time, almost 48% of Amazon’s net worth came from the sales of this device. People saw the need to have this reader in order to read their favorites while on the go. The great thing is that it does not take up too much space too.

Jeff Bezos is the richest man in the United States because he created Amazon which is one of the biggest companies in the world compared to Facebook, Apple and Google. He only owes a small share of it. Like most Americans, the 2008 recession hit everyone hard including major companies. This is because people stopped buying products off of Amazon.

This made Amazon suffer. When the recession hit, it caused a lot of financial problems with many Americans. People lost their houses and their houses went into foreclosures. They lost their jobs. Since people were not bringing in any money, they certainly couldn’t buy anything off of Amazon. Therefore, the net worth of Jeff Bezos was affected but only over the time of the recession it went down somewhat.