Over the weekend, Sen. Bernie Sanders (I-Vt) renewed his criticism of Jeff Bezos, arguing that the Amazon.com, Inc. (NASDAQ:AMZN) founder could afford billions in additional taxes under a proposed 5% annual wealth tax on billionaires.
Bernie Sanders Targets Jeff Bezos’ $270 Billion Fortune
Sanders (I-Vt.) took to X on Sunday to criticize Bezos’ wealth and spending, arguing that the billionaire should contribute significantly more in taxes.
"Last year, Jeff Bezos sailed on his $500 million yacht to his $55 million wedding in Venice to give his wife a $5 million ring while his real tax rate was less than 1%," Sanders wrote.
According to Sanders, his proposed 5% billionaire wealth tax would mean Bezos would owe $12.7 billion, Sanders said, while still retaining roughly $240 billion.
Bezos currently has a net worth of $270.2 billion, according to Forbes.
Sanders and Rep. Ro Khanna (D-Calif.) have backed legislation that would impose a 5% annual wealth tax on Americans with net worths of at least $1 billion.
Sanders’ office said the proposal would apply to 938 billionaires and could raise $4.4 trillion over a decade.
Sanders and Bezos Clash Over Billionaire Taxes
Sanders has repeatedly criticized Bezos over billionaire wealth and taxation.
In May, Sanders argued that a 5% wealth tax could help fund $12,000 payments for a family of four, expand Medicare coverage to dental, vision and hearing care, guarantee universal child care and raise starting teacher pay to $60,000.
Bezos has pushed back against the idea that taxing billionaires more would resolve broader economic problems.
In an interview, Bezos said he was open to paying more taxes if there were a serious debate, but cautioned, "don’t pretend that that’s gonna solve the problem."
Bezos has also argued that the bottom half of earners contribute only about 3% of taxes and suggested they should pay zero federal income tax.
Bezos’ Yacht and Lavish Wedding Draw Sanders’ Attention
Sanders’ latest comments also point to Bezos’ luxury lifestyle, including his superyacht Koru and his 2025 wedding to Lauren Sánchez in Venice.
Koru, which Bezos began sailing in 2023, has been estimated to be worth around $500 million and spans roughly 417 feet.
The couple’s three-day Venice wedding attracted global attention and protests over its lavish nature. Reports have estimated the event’s cost at roughly $40 million to $50 million, while earlier rumors had put the figure far higher.
The couple’s engagement ring has been estimated at $3 million to $5 million.
Price Action: Amazon shares closed at $262.65 on Friday, down 0.94% and rose 0.19% to $263.15 in after-hours trading, according to Benzinga Pro.
Benzinga Edge ranks Amazon in the 92nd percentile for Growth, with the stock showing a positive price trend across the short, medium and long term.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: QIAN JUN on Shutterstock.com
Login to comment