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

[Saucycarpdog]

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!

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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.

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[Bronx-Man]

We're gonna tear it down.

 

[maxxpower]

An 1/8 of a percent, goddamn.

 

[nsilvias]

why cant rich people ever seem to buy normal shit like the rest of us?
no one needs property like that

 

[Anoregon]

why cant rich people ever seem to buy normal shit like the rest of us?
no one needs property like that

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I do

 

[Fatoy]

why cant rich people ever seem to buy normal shit like the rest of us?
no one needs property like that

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It's an asset. One that will probably appreciate.

 

[Galkinator]

Cool the most expensive house in LA is like buying groceries for him

Spoiler

Not really cool

 

[Eeyore]

It's an asset. One that will probably appreciate.

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I appreciate how fucked up it is and how little he needs to do to grow his wealth.

 

[Deleted member 39374]

Overpriced tbh, 100M of that is literally just the address

It'll keep appreciating though. there's literally no room left in LA for these types of properties + it's likely a very profitable short term rental house and filming location

 

[Zhengi]

So he paid $3 million more for his home than Amazon paid in federal taxes.

At least his property tax bill to California will be something.

 

[Face it Tiger..]

eat the rich.

 

[Randomly Generated]

It's an asset. One that will probably appreciate.

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Come on, this is a status symbol.

 

[Baji Boxer]

It's an asset. One that will probably appreciate.

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Which is kind of meaningless when you're worth $100,000,000,000 lol.

 

[Genesius]

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.

 

[Aurica]

That's disgusting.

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.

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I don't get it either, but money changes people. It changes the way you think. He's just not a good enough person to avoid changing more for self-interest. I remember thinking as a kid that if I won the lottery when I was older, I'd give away more than half. That's me as a kid. I think if I had that much money, I'd feel sick to my stomach with myself.

 

[TaySan]

Meanwhile they are thousands of homeless in my city. No one needs this type of wealth ever.

 

[Deleted member 24052]

Ya know, I read a headline like this. And I read about Bloomberg's ridiculous spending in the 2020 election. And I just think, ya know? What's the point. These people have so much money they can do anything, and nobody can stop them. Shit's just gettin' worse, too.

 

[Vincent Alexander]

Money rules the world. Fucking pathetic.

 

[clockworkinyou]

Wait is that second picture from the Fresh Prince of Bel-Air?

 

[Dr. Feel Good]

Meanwhile Venice, Skid Row, and Hollywood are run rampant with homeless.

 

[Trieu]

Okay I have to admit I giggled a bit about the fact that they decided to include his height next to all the gigantic money figures in this one.

 

[Palette Swap]

Can't wait for the day these people realize "tax the rich" is a benevolent program they should get on with, because the alternative is to eat them.

Ya know, I read a headline like this. And I read about Bloomberg's ridiculous spending in the 2020 election. And I just think, ya know? What's the point. These people have so much money they can do anything, and nobody can stop them. Shit's just gettin' worse, too.

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Yeah, it's a learned helplessness, and it's fucked up.

 

[Video Games Are Dumb]

You can't convince me he works any harder than anyone on this thread.

This is straight up wrong.

 

[finalflame]

Nice.

 

[Everybody Lies]

Billionaire is often a respectable way of saying hoarder

 

[Dyle]

For reference you could buy Jack Warner's brother Harry's estate for a measly $39 million

StackPath

 

[ParanormalFupa]

No way can you fit a golf course let alone 1 hole on 9 acres...

 

[SerAardvark]

I used an eighth of a percent of my net worth and got myself a nice piece of bubble gum.

 

[Cation]

Lol that house alone isnt worth that much. Kinda shows how ridiculous LA pricing is for the richest man to spend 8% of his net worth on a house. That's significant af for one property. dafuq

 

[The Albatross]

As a future billionaire myself, I have to protect the billionaire class here and make one small revision.

article byline is: "If you make $60,000 a year, that's like spending $75 on a house"

Jeff Bezos does not make $131b (his net worth) in a year. It's kind of tough to calculate what he actually makes in a year because his net worth is all based on his ownership stake in his company, Amazon which is valuable partly because of his ownership stake in it. I'd imagine he doesn't take much regular pay from Amazon, and lives off of dividends, right? As a future billionaire I have to figure out how the payment model works.

There's not enough written about Jeff Bezos' crazy eye.

You can't convince me he works any harder than anyone on this thread.

This is straight up wrong.

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He definitely works harder than me. I spent a non trivial amount of time today arguing about the character motivations of John Marston in a 10 year old videogame.

 

[Shoeless]

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.

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I'm still trying to pinpoint the exact moment in my nerd youth when I finally realized that no millionaire/billionaire was actually going to dress as a bat to fight crime, shoot arrows to fight crime, or build an advanced personal mech/battlesuit to fly around and fight crime.

Comics taught me that all these people with these funds would use them for good, then reality was like... yeah, sorry kid...

 

[Trickster]

I would probably do the same if I were in his position not gonna lie. However obviously you're not gonna become very popular by flaunting your wealth like this

 

[Kurita]

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.

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It's a mystery.
All these motherfuckers could team up to make the world a MUCH MUCH better place.

What's the point of buying this? To sell it later for a few more millions you don't even need?

 

[Bitch Pudding]

In your face, Elon!

 

[Deleted member 39374]

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.

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His ego (gotta have a bigger house than elon) is worth more to him than solving any global issues

 

[Instant Vintage]

Wait is that second picture from the Fresh Prince of Bel-Air?

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Nope, it's New New's house from ATL. LOL

 

[gutshot]

Lol that house alone isnt worth that much. Kinda shows how ridiculous LA pricing is for the richest man to spend 8% of his net worth on a house. That's significant af for one property. dafuq

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No, 0.125% percent.

 

[Tobor]

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.

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My assumption has always been that the drive and psychosis needed to be successful on that level requires a lack of empathy and humility.

What makes you that rich is what keeps you from being that good.

There are always exceptions, of course, but as a rule...

 

[Rover]

The purchase, which was reported by The Wall Street Journal, is only .00125% of Bezos's $131 billion net worth - the equivalent of the average American family buying a home for $122.

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(They did the math wrong in this quote, lol)

 

[Bee.Cups]

Lol that house alone isnt worth that much. Kinda shows how ridiculous LA pricing is for the richest man to spend 8% of his net worth on a house. That's significant af for one property. dafuq

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It was actually closer to .125% of what he's worth.

 

[Slayven]

Am I looking at that right? he has to take a uber to his pool?

 

[Maximo]

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.

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[Video Games Are Dumb]

He definitely works harder than me. I spent a non trivial amount of time today arguing about the character motivations of John Marston in a 10 year old videogame.

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Let me assure you, you put more effort into that than he has anything this entire month.

 

[Deleted member 24052]

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.

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Because the kind of person it takes to accumulate this kind of wealth is not the same kind of person that would want to do those things. More than likely.

 

[Sendero]

Honestly, for being among the richest persons in the world, that property does not look particularly interesting.
Would never choose LA (or USA for that matters) as main residence, either.

But sure, as an valuable asset, it might be ok.

 

[Torpedo Vegas]

Lol that house alone isnt worth that much. Kinda shows how ridiculous LA pricing is for the richest man to spend 8% of his net worth on a house. That's significant af for one property. dafuq

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Not 8%, 1/8 of 1% or I believe it is 0.125% of his total wealth.

I was never great at math.

 

[pj-]

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.

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If he "solved" student loan debt, he'd have about negative 870 billion dollars left over to tackle those other problems you mentioned

 

[shuno]

Can't blame him. Nice estate.

 

[Dankir]

Beautiful property

 

[mutantmagnet]

why cant rich people ever seem to buy normal shit like the rest of us?
no one needs property like that

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Having an estate is useful. You now have the option to do things in private that the rest of us have to use a public setting for. It is also improves your security as a super wealthy individual.

Does Bezos need an estate that big? Probably not but the idea of having huge swaths of land to cordon off for yourself has some merit.