Jeff Bezos Could Pay Every American's Rent For An Entire Month And Still Be Richer Than Warren Buffett

As housing costs continue to strain American households, a calculation reveals the scale of wealth inequality in the United States.

Jeff Bezos, the founder of Amazon and one of the world’s richest individuals, could theoretically cover every American renter’s monthly housing costs and still have more wealth than legendary investor Warren Buffett.

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According to data from the National Multifamily Housing Council and PolicyAdvice, roughly 44.1 million Americans rely on rental housing. With average monthly rents combined, the total rental bill for the nation comes to about $40.41 billion per month.

Bezos, whose net worth Forbes estimates at $186.9 billion, could cover that entire sum and be left with $146.49 billion, still putting him $10.19 billion ahead of Buffett, whose net worth is $136.3 billion.

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The calculation, while hypothetical, underscores the depth of the housing affordability crisis facing many Americans. A 2024 study from Harvard found that 22.4 million U.S. households spend more than 30% of their income on rent, with 12.1 million spending more than 50%.

The contrast is even sharper when considering that the median U.S. rent accounts for 29.1% of the average American household income, according to Zillow. Meanwhile, Bezos has made headlines recently for his stock sales, offloading $8.5 billion in Amazon shares in February alone. 

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An SEC filing previously reported by Benzinga indicates plans to sell an additional 25 million shares valued at nearly $5 billion. The sales have fueled speculation about Bezos’s plans, from increased investment in his Blue Origin space venture to a potential bid for an NFL team.

Buffett’s Berkshire Hathaway has also been making moves, selling large portions of its Apple and Bank of America holdings. Buffett has indicated a preference for building cash reserves in the current economic climate, finding Treasury bonds an attractive option amid market volatility.

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As financial maneuvers play out among the ultrawealthy, the rental market continues to evolve. USA Today reports that in 2024, the monthly cost of renting across all 50 of the largest metro statistical areas is 37% cheaper than buying a typical home. That economic reality has contributed to 34% of Americans renting their homes this year, according to DoorLoop.

While Bezos and other billionaires are not responsible for solving the nation’s housing crisis, the contrast between their wealth and the financial struggles of many Americans highlights the growing debate around economic inequality and affordable housing policies.

As the 2024 election approaches, candidates may face increased pressure to address the symptoms of the housing crisis and the underlying wealth disparities that exacerbate it.

In the meantime, millions of Americans will continue to allocate large portions of their income to housing, while the fortunes of the ultrawealthy fluctuate by billions in a single day’s trading.

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