Verge: Jeff Bezos bought the most expensive property in LA with an eighth of a percent of his net worth

TrojanAg

Member
Oct 25, 2017
1,364
Considering the housing crisis in California and especially the homeless situation in Los Angeles at the moment, all I can say is fuck this guy. That money could have been put to good use.
 

Shaun Solo

Member
Oct 25, 2017
729
Hey, this guy should run as a Dem for president! Imagine how the Dems would destroy the GOP with that kind of money!!

/s
 

Molecule

Member
Nov 2, 2017
875
Because while the politicians are useless, Amazon is the one taking advantage of it. Amazon is consistently doing things to get out of paying taxes while also taking advantage of providing service in these countries. You're using Trumpian language to defend this. Is that your intention?
Not at all. Thanks for the explanation.
 

Chairman Yang

Member
Oct 25, 2017
1,243
I’ll never understand how someone with that much wealth wouldn’t want to be remembered as one of the world’s greatest heroes for all time. He could solve student debt, fund public schools, aid Flint’s water crisis, etc etc w/o breaking a sweat.
Bill Gates did that, and to much better causes than first-world issues like student debt. While a chunk of larger society does consider him a hero, lots of people here seem to hate him just as much.
 
Jan 29, 2018
2,342
I bet if he has enough meetings with Amazon executives on the property he can claim the purchase as a business expense and get a tax deduction.
 

AstronaughtE

Member
Nov 26, 2017
2,177
We need to start killing these men and taking their wealth. I'll take a ban for it but it fucking needs to be said.

I drove by a local church over the weekend and poor folk were huddled up for warmth just trying to survive under an awning out front and this man can blow cash on a extravagance unlike anything ever seen. How are people ok with this?
Isn't that the problem in this day and age? It's not like he's hording gold or stacks of cash.
 

Chairman Yang

Member
Oct 25, 2017
1,243
I’m sorry but eat the fucking rich. This is insane. No human should be this wealthy when there are so many homeless people in America. He’s just doing this to get richer, he’s not going to ever live at all the properties he owns for a reasonable amount of time. Tax him at 99.9 goddam % and call it a day. Fix most of America’s socioeconomic problems over night by taxing people like him.
It would fix nothing. How do you think America will use that extra tax revenue? To build houses like Singapore and solve housing? They can already do that now but don't.
 
Oct 25, 2017
6,649
Considering the price, I thought the home would be more extravagant and bigger, but I know location and history play a huge part in it.
 

Orayn

Member
Oct 25, 2017
1,664
Redistribute all of it, literally just divide up his money over the population of the earth. I will go buy beer with my ~$16 Bezos-bux.
 

Adventureracing

The Fallen
Nov 7, 2017
2,933
Bill Gates did that, and to much better causes than first-world issues like student debt. While a chunk of larger society does consider him a hero, lots of people here seem to hate him just as much.
How much is bill gates worth now and how much was he worth when he started? Like I’m glad he at least put some of his money to good use let’s not pretend he isn’t still hoarding vast sums of money which could achieve untold good in the world.

I don’t expect others to think this way but as far as I’m concerned it’s essentially immoral to be a billionaire and nothing I’ve read has convinced me otherwise.
 

Jarmel

The Jackrabbit Always Wins
Moderator
Oct 25, 2017
5,424
New York
For reference you could buy Jack Warner's brother Harry's estate for a measly $39 million

That honestly looks way nicer. Has much more character.
 

ToddBonzalez

Member
Oct 27, 2017
2,436
why cant rich people ever seem to buy normal shit like the rest of us?
no one needs property like that
Because it's 1/8th a percent of his net worth. Buying a massive estate in LA is a much smaller expenditure to Bezos than a normal person buying a tiny apartment in the midwest.
 
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Jiraiya

Member
Oct 27, 2017
4,473
Bezos is Amazon essentially. His wealth is related to Amazon. The company taking advantage of loopholes and Bezos doing so with his personal wealth is a distinction that I don't feel is meritous. Sure people are vitriolic towards him in this thread but check out a thread about Amazon's taxes and you'll see similar language around the company. It's just how the OP and article are stated.
So that means going after businesses directly affects the owner? I'm not against going after both....but bezos being this rich has allot to do with the breaks businesses get.
 

Tobor

Member
Oct 25, 2017
4,262
Richmond, VA
If I was Bezos, I would sell the company, donate 99% of the money to fixing the world, and use the remainder to live comfortably for the rest of my life.

Of course, this attitude is at least a part of the reason I’ll never be Bezos.

I’m too lazy, not ambitious enough, not in the right place at the right time, and I’m not a sociopath.
 

Chairman Yang

Member
Oct 25, 2017
1,243
How much is bill gates worth now and how much was he worth when he started? Like I’m glad he at least put some of his money to good use let’s not pretend he isn’t still hoarding vast sums of money which could achieve untold good in the world.

I don’t expect others to think this way but as far as I’m concerned it’s essentially immoral to be a billionaire and nothing I’ve read has convinced me otherwise.
He planned a while ago to automatically give away the vast majority of his wealth away upon death.
 

The Albatross

Member
Oct 25, 2017
12,149
Amazon stock itself doesn't pay a dividend, but he undoubted generates millions of dollars every calendar quarter from other dividend and interest-generating holdings. He's also virtually always liquidating his Amazon shares. You can find how much and when in publicly filled documents with the SEC. For example, this was what he did just this past week:
Damn. $3.8b in a week. Not bad. I remember cashing out a savings bond I had once and feeling pretty flush that week. Must feel something like that for Jeff.
 

Adventureracing

The Fallen
Nov 7, 2017
2,933
He planned a while ago to automatically give away the vast majority of his wealth away upon death.
And when he actually gives away that money ill be impressed and give the credit that is due. As of right now though he continues to amass huge amounts of wealth which could be achieving untold amounts of good but is instead sitting in a bank account somewhere.
 

Eeyore

Member
Dec 13, 2019
1,419
So that means going after businesses directly affects the owner? I'm not against going after both....but bezos being this rich has allot to do with the breaks businesses get.
I'm not going to argue with you that Amazon needs to pay taxes but until Americans and other nations stop giving them a free pass and act like giving them a tax break to bring jobs is appropriate not much is going to change. There is not the will in my country to hold anyone accountable. Politicians, companies, even rapists. So I can't help but think the people more on the fringe on the right and left are the only ones that care.
 

Bilix

Member
Oct 25, 2017
574
That’s why I don’t talk bad about Bezos. Dude could hire a hit on me even though I’m a nobody and his bank account wouldn’t even blink.
 

Pein

Member
Oct 25, 2017
4,611
NYC
GODDAMN.

I felt like absolute shit because I literally just wanted to donate some money to sick dog fund but I only have $14 in my account and I can't afford to get an overdraft fee, I dunno man, life just feels unfair. Billionaires can buy anything, do anything and don't even have to think about it.
 

Omnistalgic

Member
Oct 27, 2017
4,048
NJ
No one needs this kind of wealth, but it’s kinda impossible to find the solution since we are democratic republic. I certainly don’t trust governments to distribute wealth fairly or “glean” from the very rich to help those less fortunate.

at the end of the day, you cant be mad at him. Bill Gates is supposed to be pretty altruistic with his wealth but nothing he’s done has affected my life. As a state worker, I also know secondhand how mark Zuckerberg’s funds for newark schooling were squandered and ultimately wasted.

it’s sad to see, but the only answer is, well i don’t really know. Hope someone above is seeing things...
 

Chairman Yang

Member
Oct 25, 2017
1,243
Taxing the richest people in America would do nothing to help America’s socioeconomic problems?

ok boomer
Yes, it literally won't. It'll yield some tax revenue and decrease the American government's financing costs since it'll be able to borrow less. And that to not a huge degree (Europe's wealth taxes were a disappointment in how much actual revenue they earned and how much they cost to implement, for example).

America can implement the social programs it needs now. It won't, but might in the future. Billionaire taxes will make people feel good and not do a damn thing to change that.
 

Kurdel

Member
Nov 7, 2017
11,573
I wish I spent only 1/8th of a percent on groceries.
Yeah, I love how all these analogies just utterly fail to capture the obsene level of wealth.

And by love I mean we need to eat the rich before we fucking alter our vocabulary and expressions used to talk the ever increasng wealth gap.
 

SnatcherHunter

The Fallen
Oct 27, 2017
6,914
Would you then pay the taxes and upkeep expenses on those 300k houses for all those people who didn't have the means to support themselves before but would somehow magically have their life fixed now?

Charity is a great thing, but statements like this aren't based in reality.
Yes, it would be a lifetime plan. It is literally petty cash for Jeff.
 

Pwnz

Member
Oct 28, 2017
7,952
Places
Side note, got to respect Warner for only doing 13k square feet. I don't know how you'd possibly handle more. I've been to larger ones like Stan Hewytt at 65k and its ridiculously large.

13k gives you enough room to do 5 master bedrooms, usual rooms, and extras like a theater room.

Larger ones have sun rooms, rooms to greet people and check mail, just absurd.
 

spad3

Member
Oct 30, 2017
5,061
California
Cool the most expensive house in LA is like buying groceries for him


Not really cool
groceries actually cost a ton of money, him buying that house is like him buying a pack of gum.

an EIGHTH of a percent. 1% of 131.9 BILLION is $1.319 BILLION. divide that by 8 and you get $164,875,000.

He's 56, let's say he lives until 100, he could spend a billion dollars a year for the rest of his life and not even get halfway through his net worth.

To exaggerate a bit more, Bezos could wipe his ass with a million dollars every single time he has to take a shit from now until the last time he shits in his life and he wouldn't get anywhere near his net worth.
 

dabig2

Banned
Oct 29, 2017
3,037
And when he actually gives away that money ill be impressed and give the credit that is due. As of right now though he continues to amass huge amounts of wealth which could be achieving untold amounts of good but is instead sitting in a bank account somewhere.
This. When Jeff Bezos and all these other boomer/Gen X billionaires die, they've already done decades and decades worth of damage to this country. And even if you consider their death charity, it's probably not going where it needs to go to affect real structural change that can be accomplished with all that "Fuck you" money. Especially when you consider they're likely not dying until the climate catastrophe really gets into gear for 1st world countries (3rd world will be destroyed by then).

It is the definition of waste and inefficiency to just have these wealthy freeloaders benefit from socialism for the rich at the expense of everyone else for decades and decades with a promise that they may or may not give it back.



(and it's probably much worse now compared to 2016)

No thanks. We are too deep in the hole to keep the same 40 year status quo. Take it all now.