Jeff Bezos is a multi-billionaire1 and gives large amounts of money to various charities. The most recent of which is $123 million for fighting homelessness.2 This is an eye-catching amount. Some might regard it as stupendous. But is it?
Bezos has a net worth of $125.7 billion, which makes the $123 million slightly less than 1% of his nett worth. How does this translate from the stratosphere into the average household American nett worth?
The median figure for 2022 is $121,760, which includes property. For a person of Bezos’s age that increases to $213,150.3
Returning to the $123 million (which is just under 1% of Bezos’s nett worth) what does the average American donate to charity? “The short answer is that the average itemized tax return includes $4,790 in charitable deductions….” This is just over twice what Bezos got praised for in percentage terms. So, to be an average American Bezos should have donated $250 million to homeless charities.
Additionally, it should be remembered that charitable payments are tax deductible in the USA so the $123 million is a headline figure and not what he actually paid out.
Notes
2 Jeff Bezos Donates 40 Grants Worth $123 Million to Fight Homelessness (businessinsider.com)
3 What Is The Average Net Worth Of Americans? – Forbes Advisor
Odeboyz's Blog 