American treasure Jeff Bezos won’t be missing any meals or paying any bills late this month. The CEO of Amazon and world’s wealthiest man just added another $24 billion to his fortune, putting him at a modest $138.5 billion.
Fun Fact: Jeff Bezo’s net worth is roughly half the state of Indiana’s annual GDP.
Online retail demand has surged during the pandemic as non-essential stores have been closed and consumers have been reluctant to shop in supermarkets. Meanwhile, the transition to a stay-at-home economy has led to a surge in the consumption of digital services like streaming.
Even Amazon’s advertising business is booming, according to Fortune Magazine, as “shoppers come to Amazon’s e-commerce portal to search for basic items, rather than things like travel and auto, which have been severely impacted by the pandemic.”
How nice for Jeff.
Funner Fact: Nigel’s overpriced N95 mask from China that he ordered several weeks ago from Amazon has yet to arrive, but his son’s “Chuckie” doll from “Child’s Play” showed up in under 24 hours. Thus, if COVID doesn’t kill him, “Chuckie” will.
Amazon’s revenues jumped nearly 25% in the first quarter of 2020, but it’s not all good news. The company said in an earnings call that it would spend roughly $4 billion on COVID-related expenses in the second quarter, essentially wiping out its profit for the period. Expenses cited were higher wages and bonuses for warehouse employees, inefficiencies related to social distancing policies in its warehouse, personal protective equipment, and $300 million to build a lab to produce tests for the coronavirus that it could use on its employees.
Funnest Fact: Rob Kendall has been praying for one of the WIBC hosts to die of COVID-19 so he can officially be hired as a full-time host.
Hammer and Nigel have more in today’s edition of “Is This Anything?”
Point to Ponder: What do you want to bet that Jeff Bezos is one of those rich guys who never picks up the check at dinner? Hell, I’ll bet he shaves his head so he doesn’t have to pay for haircuts.
https://omny.fm/shows/hammer-and-nigel-show/is-this-anything-17
