Amazon Launches New Grocery Store Concept — Here’s All You Need To Know About the World-Dominating Company

Gabrielle Olya
·10 min read
Amazon Launches New Grocery Store Concept — Here’s All You Need To Know About the World-Dominating Company
Amazon Launches New Grocery Store Concept — Here’s All You Need To Know About the World-Dominating Company

Amazon continues to expand its grocery store reach by launching a new class of location to pair with its Whole Foods and Amazon Go offerings.

It seems as though even a global pandemic can’t put a dent in Amazon’s dominance in the online retail space — or its founder Jeff Bezos’ astronomical wealth. The pandemic is helping the e-commerce giant’s bottom line, with second-quarter results beating investor and analysts? expectations, Forbes reported. Although some analysts believe Amazon stock prices are bound to fall after their continued rise, the company — and Bezos — will likely stay filthy rich.

Here’s a mind-blowing look at Amazon — and the man behind it — by the numbers.

Last updated: Oct. 22, 2020

At Least 15: The Number of Amazon Fresh Stores That Will Be Opening Across the US

First came the organic, high-end grocery experience with Amazon’s purchase of Whole Foods. Then came quick, just-walk-out shopping with the Amazon Go stores. Now Amazon is expanding its reach again and targeting the full-service grocery store with its introduction of Amazon Fresh stores. The first store opened in September in Southern California, and at least 15 others are planned. Amazon Fresh stores will have national name-brand products in addition to produce, meat, seafood and prepared foods. Shoppers will also be able to pick up Amazon packages and drop off returns.

4,000: Number of Items Sold Per Minute by Small and Medium Businesses on Amazon

U.S.-based small and medium-sized businesses sell more than 4,000 items per minute in Amazon?s stores, on average, according to the 2019 Amazon SMB Impact Report. Small and medium-sized businesses selling on Amazon account for 58% of the site’s total sales.

$280.5 Billion: Amazon's 2019 Net Sales

Amazon reported net sales of $280.5 billion in 2019 — a 22% increase from the previous year.

150 Million: Number of Paying Amazon Prime Members Around the World

As of January, there were over 150 million paid Amazon Prime members. Prime membership costs $12.99 a month or $119 annually.

$3,000: Milestone Value Amazon Shares Surpassed

Amazon’s stock value broke the $3,000 mark for the first time on July 6, CNN reported. Despite the pandemic-induced recession, Amazon stock prices have continued to rise on expectations of strong sales and earnings growth. Amazon closed trading on Oct. 21 at $3,184.94.

$18: Amazon Stock Price at IPO

Amazon became a publicly-traded company in May 1997. The IPO price at the time was $18.

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$1.5 Trillion-Plus: Amazon's Value

Amazon is one of only three companies to be valued over $1.5 trillion, CNN reported in July. The others are Apple and Microsoft.

$400 Billion: Standalone Value of Amazon Web Services

In addition to its retail sales of consumer products and subscription services, Amazon brings in a substantial amount of revenue from Amazon Web Services, which is now the world?s leading public cloud service, Forbes reported. The financial publication estimates that AWS’ standalone value is nearly $400 billion.

$13.7 Billion: How Much Amazon Paid To Acquire Whole Foods

Amazon acquired Whole Foods in 2017 for $13.7 billion in cash — by far its largest acquisition to date. Its second-largest acquisition is Zappos, which Amazon purchased for $1.2 billion in 2009, according to Visual Capitalist.

$30 Billion: How Much Amazon Pays Its US Employees Annually

Amazon has over 590,000 employees in the U.S. In 2019, the company paid over $30 billion in compensation to its American employees, according to its SEC filing.

$700 Million: Total Amount of Increased Pay for Hourly Workers During COVID-19

In March, Amazon increased pay for hourly employees across the globe, including a $2 an hour raise in the U.S. and Canada. Amazon also doubled the regular hourly base pay for overtime hours. The pay increases were effective through the end of May. These pay boosts for hourly employees and partners during the coronavirus pandemic were expected to cost the company nearly $700 million.

In addition to the pay increases, Amazon paid out a special one-time Thank You bonus to all front-line employees and partners who were with the company throughout the month of June. The amount of the bonus varied by role and ranged from $150 to $3,000. In all, Amazon paid out over $500 million in Thank You bonuses.

$15: Minimum Hourly Wage of Amazon Employees

Amazon raised its minimum wage to $15 an hour in 2018. That’s more than double the federal minimum wage of $7.25.

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2.4%: The New Tax Rate for Amazon for Its High-Earning Seattle Employees

On July 6, the Seattle City Council approved a new tax for the city?s largest businesses for their highest earners, CNBC reported. The new ?JumpStart Seattle? tax goes into effect in 2021. The highest bracket in the new tax applies to companies — like Amazon — with annual payroll expenses above $1 billion. Amazon will be taxed 2.4% for employees making more than $400,000.

$187.5 Billion: Jeff Bezos' Record-Breaking Net Worth

On July 8, Bezos was worth $182.6 billion, setting a new record for the world’s richest person, according to Forbes. His net worth has risen even more since then — as of Oct. 21, Bezos was worth $187.5 billion. The second-richest person in the world, Bill Gates, is worth $116.4 billion.

$25 Billion: How Much Bezos' Net Worth Increased From January to April

While millions of Americans lost their jobs and numerous businesses shuttered their doors for good amid the coronavirus pandemic, Bezos has been getting richer. His net worth increased $25 billion between Jan. 1 and April 15, according to the Institute for Policy Studies’ Billionaire Bonanza 2020 report. That jump is more than the entire GDP of Honduras.

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34%: How Much Bezos' Wealth Increases Every Year

According to Comparisun calculations, Bezos’ net worth has increased by an average of 34% in each of the past five years, CNBC reported. If his net worth continues to grow at that rate, he will be a trillionaire before the end of 2026.

57 Million: Number of Amazon Shares Owned By Bezos

As of August 2019, Bezos owned over 57 million Amazon shares — about 12% of the company, CNBC reported.

$38 Billion: Cost of Bezos' Divorce

Jeff Bezos and MacKenzie Scott announced their divorce in January 2019. They had been married for 25 years and have four children together.

As part of the divorce settlement, Scott received 25% of the couple’s Amazon stock, according to an April securities filing, CNN reported. That gave her a 4% stake in the company, which at the time was worth around $38 billion.

$65 Million: Cost of Bezos' Private Jet

Bezos owns a Gulfstream G650ER worth $65 million, Business Insider reported.

$165 Million: Cost of Bezos' Beverly Hills Estate

In February, Bezos dropped $165 million to buy the Warner Estate in Beverly Hills — a new record selling price for California real estate, The New York Times reported. The home was previously owned by DreamWorks co-founder David Geffen.

0.13%: The Percentage of Bezos' Net Worth That He Spent On That Mansion

Even though Bezos broke records by shelling out $165 million for his new California home, that’s a drop in the bucket for the richest man in the world. At the time of the purchase, that nine-figure sale price represented just 0.13% of his overall net worth, the Los Angeles Times reported.

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420,000: Total Number of Acres Owned By Bezos

In addition to the Beverly Hills estate, Bezos owns three adjacent New York City apartments, which he purchased for $80 million; a nearly 29,000-square-foot estate in Medina, Washington; a Spanish-style Beverly Hills mansion, which he purchased in 2007 for $24.45 million; a four-bedroom Beverly Hills home, also purchased in 2007, which he bought for $12.9 million; a 30,000-acre Texas ranch; a Washington, D.C.-mansion, purchased in 2016 for $23 million; and four condos overlooking Central Park, three of which he purchased in 1999 for $7.65 million and a fourth purchased for $5.3 million in 2012, Business Insider reported.

As of January 2019, Bezos ranked No. 28 in the nation for the most land owned with 420,000 acres, according to the 2018 Land Report 100.

$2,489: How Much Bezos Makes Every Second

Based on Bezos’ annual earnings, Business Insider estimated that he makes $2,489 every second — more than double what the average worker makes in an entire week. The median American worker makes $957 a week, according to the Bureau of Labor Statistics.

$81,840: Bezos' Annual Salary

Bezos makes an annual salary of $81,840, according to Amazon’s SEC filing for 2019. However, his total earnings for the year were $1.68 million.

1-to-58: The Ratio of Jeff Bezos' Pay to That of the Average Amazon Employee

In 2019, the median Amazon employee compensation was $28,848. Bezos’ compensation of $1.68 million is 58 times the median earnings of an Amazon worker.

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$1,400: Average Amount Prime Members Spend Every Year

The average Amazon Prime member spends $1,400 on the site every year, according to Statista. Non-Prime member Amazon shoppers spend an average of $600 a year.

$1 Million: How Much Jeff Bezos Invested In Google

Bezos was an early investor in Google, according to Visual Capitalist. He invested $1 million in the company in 1998.

$2 Billion: Amount Pledged To Bezos' Philanthropic Day One Fund

Bezos launched the Day One Fund with a $2 billion commitment “to focus on making meaningful and lasting impacts in two areas: funding existing nonprofits that help families experiencing homelessness and creating a network of new, nonprofit tier-one preschools in low-income communities,” the organization states on its website. In 2019, $98.5 million was donated to 32 recipients from 23 states to support these causes.

$10 Billion: Amount Pledged To the Bezos Earth Fund

Bezos announced in February that he was launching the Bezos Earth Fund to fight climate change.

“Climate change is the biggest threat to our planet,” he shared on Instagram. “This global initiative will fund scientists, activists, NGOs ? any effort that offers a real possibility to help preserve and protect the natural world. […] I?m committing $10 billion to start and will begin issuing grants this summer. Earth is the one thing we all have in common ? let?s protect it, together.???”

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$100 Million: Amount Bezos Donated To Feeding America

In April, Bezos announced that he would be donating to Feeding America to help fight food insecurity, which has been exacerbated by the coronavirus pandemic.

“I want to support those on the front lines at our nation?s food banks and those who are relying on them for food with a $100 million gift to @FeedingAmerica,” he shared on Instagram. “Feeding America will quickly distribute the funds to their national network of food banks and food pantries, getting food to those countless families who need it.?”

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Jordan Rosenfeld and Mark Evitt contributed to the reporting for this article.

This article originally appeared on GOBankingRates.com: Amazon Launches New Grocery Store Concept — Here’s All You Need To Know About the World-Dominating Company