Who is Lauren Sanchez? What is Jeff Bezo’s net worth? Who is Jeff Bezos’ fiancée’s net worth?
The early noughties journalist has since become a senior player in her husband’s Bezos Earth Fund for philanthropic activities.
Lauren Sánchez’s media career has helped her generate an estimated net worth of $30 million.
Born in Albuquerque, New Mexico, the 53-year-old began her professional journey in the 1990s as a news anchor and journalistfor several networks, including Extra, Fox Sports News, and KTTV Fox 11. Her talent earned her an Emmy award for her work on UPN News 13.
Sánchez has also made appearances in several films and TV shows, including “Fight Club,” “The Day After Tomorrow,” and “NCIS”.
In recent years, Sánchez has gained additional public attention due to her relationship with Amazon founder Jeff Bezos. The couple announced their engagement in 2023 and she is the vice-chair of the Bezos Earth Fund with her husband.
For his part, Bezos garnered the majority of his wealth as the CEO and founder of Amazon. Like many billionaires, the former Amazon boss’s wealth was not derived from his annual income resulting from his labor.
Bezos’ ‘low income’
From 1998 to 2021, Bezos earned a base salary of $88,840, with additional compensation bringing the total to more than $1.6 million each year. While a much higher salary than most people in the United States could dream of, it does not come close to totaling over $204 billion, as Forbes reports his net worth to be.
By keeping his income relatively low, Bezos has been able to evade paying taxes on his wealth, which in the United States is taxed differently than income. When he stepped down as CEO of Amazon, he owned 10.3% of the company’s stock which is where the majority of his wealth is held.
Around the world, many governments remain unable or unwilling to tax the wealthy. ProPublica had reported that from 2008 to 2018, Bezos’ wealth increased by more than $127 billion, yet he only “reported a total of $6.5 billion in income.” Over that period, he paid $1.4 billion in federal taxes or around 1.1% of his total wealth. In 2011, Bezos actually reported a loss in income and was able to claim a tax credit which resulted in him being given an additional $4,000 on his tax refund.
Undermining of competitors
Many leaders and activists have highlighted the detrimental impact Amazon has had on local businesses. One reason many consumers have moved online is that they can find products for a lower price than what may be offered by a local retailer. Amazon as a multinational company is often able to cut the profits on each individual sale because their total volume is so large that it offsets the potential loss. Smaller businesses, with lower total sale volumes, are unable to compete with these prices and many have closed their doors.
The Institute for Local Reliance conducted various studies examining the impact Amazon has had on local economies and found that between 2007 and 2017 more than 65,000 small businesses closed. Around forty percent of this mass closure came from local apparel, book, and toy stores.