The Billion Dollar Ballers and How Much They Pay Their Staff
By: Charles Tyrwhitt
Owner of Amazon, saw his fortune grow considerably over lockdown. While other businesses sank or floated thanks to restrictions and lack of versatility, Amazon truly excelled.
In the three months building up to June 30th, Amazon employed a further 175,000 staff across its operations, as online sales grew by more than 50 per cent, and web services grew by 29 per cent.
Did you know that Amazon warehouse operatives are earning a mere $12 per hour? Now, to put that into perspective, Amazon turn a profit of $4,722 a second which translates to $17 million an hour.
2) Bill Gates
Featuring prominently as the world's wealthiest individual over the past few decades, he is no stranger to a dollar bill. In fact, he only recently got pipped to the post by Jeff Bezos, who has now vanished into the distance when it comes to net worth.
Bill Gates has an estimated net worth of $98 billion, but surprisingly, the lowest-paid member of his company is only operating at an hourly wage of $11.68 an hour, totalling $23,360 per year.
Despite giving away a lot of his money to charity, Gates joins Bezos, not only in the plus-$100 billion club, but also in the club that pays their staff effective minimum wage.
3) Bernard Arnault
The name LVMH mightn't ring any bells but we're fairly confident the companies within will. The world's biggest luxury goods company, LVMH includes brand such as Hennessey, Louis Vuitton, Dior, and many more.
Mr Arnault's estate is worth around $76 billion, making his family the third richest in the world after Bezos and Gates.
Does big wealth at the top, however, filter through to the bottom? The answer is no. According to reports, the lowest-paid member of staff in the LMVH team is earning an hourly rate of $11.30.
4) Warren Buffet
If there was ever a man to speak to regarding your investments, it's Berkshire Hathaway founder, Warren Buffet.
Buffet filed his first tax return at the age of just 14—declaring his earning from his paper round. He now boasts a net worth of over $67 billion,
When it comes to his staff, however, how does a man known for his frugality, pay?
Well, you might be surprised to discover that the lowest-paid employee in Buffet's organisation is considerably higher than that of his three counterparts already accounted for in the rich list.
Work for Berkshire Hathaway as the lowest-paid entity and you'll walk away with $13.17 an hour—not necessarily anything to write home about but still better than the others.
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