U.S. business inventories rise 0.5% in February

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Amazon CEO Jeff Bezos total 2020 pay stays at $1.7 million, with most representing security costs

Amazon.com Inc. Chief Executive Jeff Bezos base salary for 2020 remained at $81,840, the same as 2019 and just a little more than double the median total compensation U.S. full-time employees of $37,930. In the ecommerce and cloud giant’s 2020 proxy statement filed late Wednesday, Amazon disclosed that Bezos total 2020 compensation was $1,681,840, also the same as the year before, as he again received no stock awards and “all other compensation” remained at $1.60 million. For Bezos, all other compensation represents costs to the company for security arrangements for Bezos, which the company said it believed was “reasonable” in light of Bezos’ “low salary.” But despite the low salary, Bezos acknowledged in a letter to shareholders that he was “wealthy,” as recent filings show he owned 53.21 million Amazon shares, representing 10.57% of the shares outstanding, and valued at $180.1 billion at current prices. The stock, which rose 1.6% in morning trading, has rallied 46.7% over the past 12 months while the S&P 500 has advanced 49.2%.

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