The Amazon founder and CEO and the other 174 Americans on the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people, would collectively owe $61 billion under Warren’s proposed tax.
Jeff Bezos, the world’s richest person, would have to pay $4.1 billion in the first year under U.S. Sen. Elizabeth Warren’s proposed wealth tax, based on his current net worth of $137.1 billion.
The Amazon founder and CEO and the other 174 Americans on the Bloomberg Billionaires Index, a ranking of the world’s 500 richest people, would collectively owe $61 billion.
Warren, a Massachusetts Democrat, proposed on Thursday a tax of 2 percent on those with assets of $50 million to $1 billion and 3 percent on all fortunes exceeding $1 billion. The tax would raise $2.75 trillion over a decade from about 75,000 families,The Washington Post reported, citing an economist advising Warren on the plan.
Almost all of Bezos’ net worth is tied up in Amazon stock, and such a tax bill could force him to sell some. He currently has $2.5 billion of cash and other liquid assets, according to the Bloomberg wealth index’s net worth analysis. Bezos, 55, eventually may share the tax burden with his wife MacKenzie. The couple announced earlier this month that they plan to divorce.
Most Read Business Stories
- Explosion of U.S. tech jobs concentrated in just 5 metro areas, study finds
- Magnolia residents' AI-powered surveillance camera tracks people, cars at entrance to neighborhood, experts caution bias
- Burien has been plagued by noise from Sea-Tac Airport. So residents sued the government -- and won.
- Was $1.3 billion cyberattack an act of war? Merck squares off against insurers in case with wide relevance
- Boeing 777X's fuselage split dramatically during September stress test
Editor’s note: A comment thread was erroneously attached to this story when it was first published. It has since been removed, in accordance with our policies regarding stories from wire services.
Read more stories about income inequality here.