President Donald Trump has made it clear that he has beef with Jeff Bezos, the resident of online retail giant Amazon.com, Inc. (NASDAQ:AMZN) through his social media posts.
The U.S President has for a long time been known to be against Bezos even though as a government official, Trump is supposed to be impartial. There has been speculation that his beef with the fact that Bezos is wealthier than Trump especially considering his competitive nature. Even before he became president, Trump had earned himself quite a reputation for being extreme when it comes to business and especially competition in business.
If the above was the case, it would be understandable why Trump seems to be taking jabs at Bezos. Marc Fisher, a senior editor at The Washington Post claims that President Trump might be Jealous of the Amazon CEO and that this might be the reason why he has been lashing out at the online retail giant. Fisher pointed out that Bezos was on top of the list of Forbes richest people in the world while Trump was at position 766 on the list.
Fisher suggested that Trump does not like his current position on the list which is perhaps why he has been criticizing Amazon. The Washington Post editor also added that Trump does not understand how online retailers have taken over the markets so quickly. However, this is least likely to be the reason that Trump has been targeting Bezos so much. It has for a long time been known that Amazon and other major companies practice tax evasion. Trump has been using this as a point to attack Bezos and his company.
Trump was at some point known to be one of the top richest people but other people have come up that are worth a whole lot more. For example, Bezos is worth about $118 billion which is a big mountain compared to Trump’s $3.1 billion net worth which also seems to be dwindling each year.
Trump recently criticized Amazon in a tweet for paying a small amount in taxes compared to the massive revenue that the company makes from its highly successful businesses. However, the company has been using this model to make sure that it maintains low prices for the products it sells. Lower prices play a critical role in helping Amazon to stay ahead of the competition and this is something that the customers find to be very convenient.
Trump is also reportedly against Bezos for using the United States Postal Service as a “delivery boy” and this has reportedly been causing the U.S economy to lose a lot of money every year. Bezos has been relatively calm about the whole situation and appears as that guy who is just cool and collected regardless of the situation. This has helped paint a positive picture of Bezos as well as the entire firm. It is also worth noting that Amazon is largely responsible for keeping the postal service in business.