• As the holidays approach, the ultrawealthy will decamp to some of the world's most expensive destinations.
• Whether aboard yachts or ski lifts, the 0.01% tend to travel to familiar locales.
• Here's a look at some of the most popular places for the rich during the holidays.

Deck the gangways with boughs of holly.

Billionaires are deploying their private jets and superyachts in preparation for the holiday season, with many headed to familiar hot spots.

Each December, the richest among us depart for expensive destinations to enjoy time with their families — and often other billionaires.

This year will be nothing different.

"It's going to places that are exclusively pretty much high net worth," Winston Chesterfield, the founder of Barton, a consulting firm focused on luxury and the wealthy, told Business Insider. "They want these private resorts away from everyone else because they don't want to be around everyone else."

Many of the world's largest yachts have already sailed to warmer waters.

Jeff Bezos' yacht Koru and Barry Diller's Eos are both floating in the Caribbean Sea, according to ship tracker Marine Traffic. Eric Schmidt's Whisper is headed to Barbados, and Len Blavatnik's Odessa II was most recently docked in Antigua.

Once their billionaire owners are aboard, several of these ships will likely make their way to St. Barths.

"I always say if you want to have your toes in the sand and eat a croissant that feels like you're in Paris, St. Barths is the place for you," Elisabeth Brown, the membership director at luxury concierge service Knightsbridge Circle, told BI.

Known for its exclusivity, fine hotels and restaurants, and natural beauty, the island has been a favorite among the uberwealthy for decades. Rockefellers and Rothschilds built estates there in the mid-1900s.

Last year, Bezos, his fiancée, Lauren Sánchez, and Michael Jordan were spotted on St. Barths, and David Geffen's superyacht, the Rising Sun, was seen nearby.

For those who don't stay on yachts, popular luxury hotels like Eden Rock and Cheval Blanc, owned by billionaire Bernard Arnault's LVMH, cost upward of $5,000 per night for a room at this time of year.

The less expensive hotels aren't exactly cheap — which is part of the appeal. A room in the least expensive hotel available for the week between Christmas and New Year's costs more than $3,000 per night.

"There is nothing mass-market about it. It's impossible to be there unless you are really wealthy," Chesterfield said.

Other superrich travelers opt for colder destinations, choosing to embrace the winter weather.

"The holidays in the mountains are more of an escape than any other holidays, even escapes to their own remote private islands and things," Chesterfield said.

In Europe, that means the Alps. Gstaad, St. Moritz, Courchevel — which was a favorite of Russian oligarchs — and Val-d'Isère are classic choices for the ultra-high net worth set, Chesterfield and Brown said.

Recently, Chesterfield said he's seen some choose quieter destinations, like Crans-Montana in Switzerland, where billionaire Vicky Safra has a home, or Kitzbühel, Austria.

"You're less likely to bump into people that you know there," he added.

Some of the very wealthy own eight-figure chalets that they rent out for as much as $40,000 a week during peak season. Real estate prices continue to rise in these locations, with homes in Gstaad, the most expensive locale, costing 41,500 euros per square meter (about $43,350), according to property consultancy Knight Frank's 2024 Alpine Index.

Buying luxury condos within resorts, like the Six Senses in Courcheval, is becoming more common, too, in large part due to the amenities, which include spas, saunas, ski valets, and concierges.

Stateside, Aspen remains the most elite ski resort.

The town has the highest density of residents worth more than $30 million in the US, according to a 2023 study by data firm Altrata. Billionaires like Steve Wynn, Daniel Och, and Terry Taylor own homes there, and in recent years, wealthy celebrities like Rihanna and Kylie Jenner have been photographed downtown during the holidays.

"It is the closest you'll get to a European après situation," Brown said. "Great mountains, great skiing, the hotels are top-notch, the restaurants are awesome."

There's a restaurant by chef Nobu Matsuhisa, designer shops like Prada and Gucci, and private clubs to make the uber-rich feel at home. Plus, there are plenty of top resorts like the St. Regis and Little Nell, where rooms cost four figures a night.

Of course, sometimes billionaires are just like us — at least kind of. One of Brown's clients is gifting their family a trip to Disney World, though it will cost more than the typical American family's vacation to Cinderella's Castle.

"It's a few days, for about seven or eight people. It'll probably end up being $75,000, give or take," Brown said.

• Jeff Bezos had dinner with Donald Trump and Elon Musk at Mar-a-Lago on Wednesday evening.
• Musk confirmed the dinner took place, describing it as a "great conversation."
• Bezos is the latest tech giant to meet Trump in Florida, after Mark Zuckerberg and Sundar Pichai both visited.

Jeff Bezos seems to be trying to patch up his feud with Donald Trump and Elon Musk.

The former Amazon CEO was pictured at Mar-a-Lago with fiancé Lauren Sánchez on Wednesday night in images circulating on social media, as he joined the president-elect for dinner.

Trump had previously told NBC's "Meet the Press" that he and Bezos were planning to have dinner.

Tesla CEO Elon Musk was also in attendance, confirming that the meeting had taken place in a post on X, describing it as a "great conversation."

Bezos, who also owns rocket company and SpaceX rival Blue Origin, is the latest tech figure to try to make nice with Trump in recent weeks.

Meta CEO Mark Zuckerberg and Google boss Sundar Pichai have both met with Trump at his Florida resort in recent weeks. Meta, Amazon, and OpenAI CEO Sam Altman have all donated $1 million to the incoming president's inauguration fund.

Bezos has had a rocky relationship in the past with both Trump and Musk.

The Washington Post owner clashed with Trump in his first term over his newspaper's coverage of his presidency.

However, Bezos praised Trump following an assassination attempt in July and said he was "very optimistic" about a second Trump term at the NYT's Dealbook conference earlier this month.

Bezos has also previously sparred with Musk, who is set to play an active role in the Trump administration after donating over $200 million to pro-Republican campaign groups during the election.

Musk wrote in a post on X last month that Bezos had told people they should sell Tesla and SpaceX stock because Donald Trump would lose the election, which the Amazon founder denied as "100% not true."

Blue Origin competes with SpaceX for lucrative NASA and federal contracts. In the leadup to the election, the billionaire came under fire over The Washington Post's failure to endorse a candidate, with multiple reports suggesting Bezos made the decision to do so.

Amazon and Elon Musk did not respond to requests for comment, sent outside normal working hours.

• The elite group worth more than $100 billion includes Elon Musk, Jeff Bezos, and Bill Gates.
• The 16 members have grown almost $900 billion richer this year and are jointly worth $2.8 trillion.
• Walmart heirs Jim, Rob, and Alice Walton joined the club for the first time in September.

Elon Musk, Jeff Bezos, and Mark Zuckerberg are among the handful of people on the planet with a net worth above $100 billion.

Members of this elite group have amassed 12-digit fortunes by owning huge amounts of stock in some of the world's most valuable companies. Most are founders and either current or former CEOs, and some, such as Warren Buffett, would be much richer if they didn't give billions to charity.

The 16 people in this very exclusive club have a combined wealth of about $2.8 trillion, according to the Bloomberg Billionaires Index. They're worth more than Amazon or Google owner Alphabet, which command market values of around $2.4 trillion each.

All but one of them have grown richer this year, adding a net $890 billion to their collective fortunes. Walmart ($762 billion), Eli Lilly ($740 billion), and JPMorgan ($675 billion) are all worth significantly less than that.

Walmart heirs Jim, Rob, and Alice Walton joined the exclusive group in September, thanks to their net worths surging by upward of $43 billion this year.

Here's the list of individuals worth at least $100 billion, showing Bloomberg's estimate on December 16, how much it's changed this calendar year, and the source of their wealth.

1. Elon Musk

Net worth: $474 billion

YTD change in wealth: +$245 billion

Source of wealth: Tesla and SpaceX stock

Elon Musk is the CEO of the electric-vehicle maker Tesla and the spacecraft manufacturer SpaceX. He's also the owner of X, the social network formerly known as Twitter. His other businesses include The Boring Company, Neuralink, and xAI.

Musk's wealth has nearly doubled this year — surging by $245 billion or almost Jeff Bezos' entire net worth — because Tesla stock has jumped by over 85% and SpaceX's valuation has surged to $350 billion, per Bloomberg.

2. Jeff Bezos

Net worth: $251 billion

YTD change in wealth: +$74.5 billion

Source of wealth: Amazon stock

Jeff Bezos is the founder, executive chairman, and former CEO of Amazon, the e-commerce and cloud-computing giant.

He also founded the space company Blue Origin and owns The Washington Post.

3. Mark Zuckerberg

Net worth: $221 billion

YTD change in wealth: +$92.6 billion

Source of wealth: Meta stock

Mark Zuckerberg is the cofounder, chairman, and CEO of Meta Platforms, the social-media titan behind Facebook, Instagram, WhatsApp, and Threads.

Meta's Reality Labs division makes virtual-reality and augmented-reality headsets and experiences.

4. Larry Ellison

Net worth: $194 billion

YTD change in wealth: +$70.9 billion

Source of wealth: Oracle and Tesla stock

Larry Ellison is the cofounder, chief technology officer, and former CEO of Oracle, an enterprise software company specializing in cloud computing and database platforms.

He invested in Tesla prior to joining the automaker's board in 2018 and made more than 10 times his money on paper by the time his term as a director ended in August 2022.

5. Bernard Arnault

Net worth: $178 billion

YTD change in wealth: -$29.3 billion

Source of wealth: LVMH stock

Bernard Arnault is the founder, chairman, and CEO of LVMH Moët Hennessy Louis Vuitton. His conglomerate owns a bevy of luxury brands, including Dior, Fendi, Dom Pérignon, Sephora, and Tiffany & Co.

LVMH stock has struggled this year, falling over 10% and eroding Arnault's net worth in the process.

6. Larry Page

Net worth: $175 billion

YTD change in wealth: +$48.2 billion

Source of wealth: Alphabet stock

Larry Page cofounded Google with his Stanford University classmate Sergey Brin in a friend's garage in 1998 and served as CEO until 2001.

He took the reins again between 2011 and 2015 after Google was restructured as a subsidiary of Alphabet alongside other businesses such as YouTube and Waymo.

7. Bill Gates

Net worth: $165 billion

YTD change in wealth: +$23.9 billion

Source of wealth: Microsoft stock

Bill Gates is the cofounder and former CEO of Microsoft, which makes the Office application suite, the cloud-computing platform Microsoft Azure, and Xbox consoles.

He's renowned for his philanthropic work at the helm of the Bill & Melinda Gates Foundation, one of the world's largest charitable entities.

8. Sergey Brin

Net worth: $164 billion

YTD change in wealth: +$44.3 billion

Source of wealth: Alphabet stock

Sergey Brin cofounded Google with Page in 1998 and served as the search-and-advertising titan's first president.

He and Page stepped down from their respective roles as Alphabet's president and CEO in 2019.

9. Steve Ballmer

Net worth: $156 billion

YTD change in wealth: +$25.4 billion

Source of wealth: Microsoft stock

Steve Ballmer served as Microsoft's CEO between 2000 and 2014. He joined the company in 1980 as Bill Gates' assistant, initially negotiating a profit share, which he later swapped for an equity stake when it became excessively large.

Ballmer retired as CEO in 2014 with a 4% stake — a position now worth more than $130 billion. He promptly bought the Los Angeles Clippers for $2 billion and remains the basketball team's owner.

10. Warren Buffett

Net worth: $143 billion

YTD change in wealth: +$23 billion

Source of wealth: Berkshire Hathaway stock

Warren Buffett acquired Berkshire Hathaway when it was a failing textile mill in 1965 and has since grown it into one of the world's largest companies. His nearly 15% stake is worth around $141 billion.

The famed investor's conglomerate owns scores of businesses, including GEICO, See's Candies, and BNSF Railway, and holds multibillion-dollar stakes in public companies such as Apple and Coca-Cola.

Buffett has gifted about half his Berkshire shares to the Gates Foundation and his four family foundations since 2006.

11. Michael Dell

Net worth: $130 billion

YTD change in wealth: +$51.4 billion

Source of wealth: Dell stock

Michael Dell is the founder, chairman, and CEO of the eponymous computer maker. Dell stock has roughly tripled since March last year to $119, valuing the company at over $80 billion, as investors wager it will be a key beneficiary from the AI boom.

Dell owns about 46% of his company, and pocketed well over $10 billion from the sale of Dell-backed VMware to Broadcom last year.

12. Jim Walton

Net worth: $117 billion

YTD change in wealth: +$44.5 billion

Source of wealth: Walmart stock

Jim Walton is the youngest son of Walmart founder Sam Walton, who gave each of his four children a 20% stake in the budding retail business over 70 years ago. Jim and his two surviving siblings, Rob and Alice, each still own over 11% of the company.

Jim's net worth crossed $100 billion in September following an 80% surge in Walmart stock this year.

13. Jensen Huang

Net worth: $115 billion

YTD change in wealth: +$71.4 billion

Source of wealth: Nvidia stock

Jensen Huang cofounded Nvidia in 1993, but the microchip maker has become a market darling within the past two years as its semiconductors have proven pivotal to developing artificial intelligence.

Nvidia's stock price has skyrocketed from under $15 at the end of 2022 to $132. That has boosted the company's value to $3.2 trillion — meaning it now rivals Apple as the world's most valuable company —and bolstered Huang's superrich status in the process.

14. Rob Walton

Net worth: $115 billion

YTD change in wealth: +$43.3 billion

Source of wealth: Walmart stock

Rob Walton, Sam Walton's eldest, sat on Walmart's board for more than 40 years before retiring this June.

His net worth passed $100 billion for the first time in September, making him the second Walton to join the club after his younger brother, Jim.

15. Alice Walton

Net worth: $114 billion

YTD change in wealth: +$43.8 billion

Source of wealth: Walmart stock

Alice Walton is Sam Walton's only daughter, and the world's richest woman after overtaking L'Oréal heiress Françoise Bettencourt Meyers earlier this year.

She joined her brothers, Jim and Rob, in the $100 billion club in September.

16. Amancio Ortega

Net worth: $104 billion

YTD change in wealth: +$16.9 billion

Source of wealth: Inditex stock

Amancio Ortega is the founder and former chairman of Inditex, a fashion retail group home to brands such as Zara, Bershka, and Massimo Dutti.

The billionaire philanthropist and real-estate investor stopped running Inditex in 2011. His daughter Marta Ortega Pérez was appointed chair at the end of 2021.

• Big Tech companies and CEOs are already lining up six-figure donations to Donald Trump's inauguration.
• Amazon, Sam Altman, and Meta are each prepared to donate $1 million.
• There are virtually no limits on inaugural donations, meaning Big Tech companies can cut massive checks.

Big Tech companies and the moguls behind them are preparing to make six-figure donations to President-elect Donald Trump's inaugural committee.

Jeff Bezos' Amazon, OpenAI CEO Sam Altman, and Mark Zuckerberg's Meta have all been reported to have made or will make $1 million to the outfit tasked with planning and organizing Trump's triumphant return to power.

"The financing of inaugurations is really a cesspool when it comes to campaign financing," Craig Holman, a lobbyist for government watchdog Public Citizen, told Business Insider.

Holman said there are few, if any, limits to inaugural donations, and what makes them particularly appealing is that megadonors and CEOs don't have to worry about picking the loser.

"Unlike financing a campaign, when you don't know for sure who is going to win, here in the inauguration, you've got the winner," he said. "So corporations and other special interests just throw money at them at the feet of the president with the hope of currying favor."

Jeff Hauser, executive director of the Revolving Door Project, a public interest group, said donations to the inaugural committee are less likely to irk the opposition.

"They are frequently a mechanism for entities that sit out elections to get good with the incoming administration," he said.

Trump's 2017 inaugural set a record, raking in roughly $107 million. Las Vegas Sands CEO Sheldon Adelson donated $5 million, the largest single donation. AT&T gave just over $2 million. For many in Washington, it was a time to make nice with an incoming president that few thought would win the 2016 race.

This time, Trump's inaugural offers one final major opportunity for CEOs to curry influence with the president-elect at his peak.

Since he'll be term-limited, the next major fundraising opportunity likely won't come until Trump begins preparations for a presidential library (should that even occur). At that point, companies will have missed their window to make a final impression before mergers and acquisitions.

2017 Trump inaugural donors benefited greatly

Playing ball can have major benefits. OpenSecrets found in 2018 that "of the 63 federal contractors that donated to the inauguration, more than half won multimillion-dollar bids" from the federal government later on.

Foreign donors can't contribute to a president-elect's inaugural committee, and the committee must publicly disclose details about donations over $200 within 90 days of Inauguration Day. Otherwise, there are few limits on what individuals or corporations can give, and inaugural committees are not required to explain how they spend the money.

Some presidents, especially Obama in 2009, have imposed voluntary restrictions on donations. Obama refused to accept corporate donations or individual contributions over $50,000 for his historic first inauguration, though he later lifted those limits for his reelection celebration.

Hauser said donations will allow corporations to prepare for an especially transactional period.

"I think that corporations with an agenda in Trump's Washington, be it offense, like getting new contracts, or defense, like avoiding negative federal scrutiny, are going to spend millions of dollars in Washington to either make or protect billions in the real economy," Hauser said.

Tech companies are under the microscope.

Amazon, Google, and Meta have all faced antitrust concerns. Republican lawmakers have frequently grilled Meta CEO Mark Zuckerberg over Facebook's decision to limit sharing the New York Post's initial report on Hunter Biden's laptop ahead of the 2020 election. Zuckerberg and his wife, Priscilla Chan, donated to help election officials during the COVID-19 pandemic, enraging some on the right, while Trump repeatedly lit into Amazon founder Jeff Bezos for The Washington Post's coverage of his first administration. Amazon sued the Trump administration after Microsoft was awarded a $10 billion cloud computing contract over them, alleging that Trump's animus for Bezos sunk their chances.

Bezos and Zuckerberg have since taken steps to repair their relationships with the Trump world. Zuckerberg has expressed regret over Facebook's decision to censor some posts about COVID-19. He also pledged not to donate to help election officials. Bezos intervened when The Post's editorial board was ready to endorse Vice President Kamala Harris.

Bezos also recently said Trump seemed "calmer than he was the first time and more settled."

"You've probably grown in the last eight years," Bezos said at The New York Times DealBook Summit in December. "He has, too."

Altman has been entangled in a legal battle with his OpenAI cofounder Elon Musk, who is set to be an influential figure in the Trump administration.

In a statement about his donation, Altman said, "President Trump will lead our country into the age of AI, and I am eager to support his efforts to ensure America stays ahead."

Representatives for Amazon, Meta, and Trump's inaugural did not immediately respond to a request for comment from Business Insider.

To get a taste of what may be in store, one only needs to look at what happened at President Joe Biden's inauguration.

A leaked fundraising memo showed that large donations netted individuals and organizations various perks, including opportunities to meet Biden, receive private briefings from top campaign officials, and "preferred viewing" for the virtual inauguration.

All of those benefits came amid pandemic precautions. Trump's party will have no such limits.

• It's not new for rich people and big companies to donate to presidential inaugurations.
• Something about watching tech titans like Mark Zuckerberg and Jeff Bezos do it seems different.
• That's at least in part because it's so public — the money is less important than the message.

First, Mark Zuckerberg. Then, Jeff Bezos. Now, Sam Altman. They're all donating $1 million to Donald Trump's inauguration fund.

Expect more tech titans to follow. Google CEO Sundar Pichai was reportedly flying to Mar-a-Lago to meet with Trump this week. I wouldn't be shocked to see a $1 million pledge coming shortly after. (Google declined to comment about any of the above.)

You can see it playing out in real time. Zuckerberg's initial donation was news; each subsequent one just confirms it as the cost of doing business. At some point, the news will be when you hear that some tech giant is not forking over $1 million to help fund Trump's multiday party next month.

Quick context: It is not unusual for big companies and very rich people to donate lots of money to presidential inaugurations, whether via cash, in-kind contributions, or both.

While US elections themselves have (some) rules about the amount of money people and companies can spend on candidates, there's no cap on what they can spend on inaugural committees. The only restrictions are that the money can't come from foreign nationals and that the donations eventually have to be disclosed.

Which is why we can see it's also not unheard of for Big Tech companies to make inaugural donations. Microsoft kicked in $500,000 for Trump's first inauguration in 2017; Google spent $285,000. Those two companies also contributed to Joe Biden's 2021 inauguration, along with Uber, which spent $1 million.

It's also worth noting that the sums we are talking about here don't even qualify as rounding errors for companies this size. Zuckerberg's Meta makes about $174 million in profit every day. Amazon does about $110 million. A million bucks just doesn't register. (The Amazon and Meta donations are coming directly from the companies, not their founders; Altman, who has a reported net worth of $1.1 billion, has said he's making his donation personally.)

So what makes this round of donations newsworthy?

Yes, in some cases, Trump has tangled with the companies or the leaders in question — he famously threatened to jail Zuckerberg earlier this year for theoretical election interference, and he's long railed about Amazon's founder, Bezos, as well as the Bezos-owned Washington Post.

There's also the fact that while Trump and his allies continue to insist that they want to cut regulations, they also insist that they'll be cracking down on Big Tech. That context makes the donations seem even more transactional than other rich person/corporate donations.

But the main reason this is news is … because it's news. News that's out in public, that is.

In the past, these donations would eventually be disclosed in filings, but this time around, the contributors seem eager to let the world know they're doing it.

That's the telling part. The part that tells you that this time around, more tech leaders have decided that the best way to deal with Donald Trump is to say nice things about him in public, and to do nice things for him — in public. And then, they hope, they can get things from him privately.

That is, they are taking cues from Apple CEO Tim Cook, who navigated the first Trump presidency very effectively. As I've noted before: "Cook became an expert Trump manager during Trump 1.0 by letting the president do what he wanted in public, like take credit for things he didn't do, while prevailing on him privately to do things Cook wanted Trump to do — namely, exempting Apple products from tariffs." I'm assuming that will also include a $1 million donation from Apple that will get announced very shortly.

• Donald Trump is getting donations left and right from the biggest names in business.
• OpenAI CEO Sam Altman was the latest to give $1 million to Trump's inaugural fund.
• Tech leaders are angling to get or stay in his good graces and help shape his tech policy.

The latest business trend? Donating $1 million to Donald Trump's inauguration.

Business leaders across industries are trying to get on the president-elect's good side ahead of his return to the Oval Office, and some are breaking out their wallets — or their company's — to do so.

The president-elect is receiving donations to his inaugural fund from Mark Zuckerberg through Meta, Jeff Bezos through Amazon, and OpenAI CEO Sam Altman.

Meta confirmed to BI earlier this week that it's donating $1 million to Trump's inaugural fund. Amazon told the Financial Times it's giving $1 million to the fund and will also air the inauguration on Prime Video.

OpenAI's Altman plans to kick in $1 million of his personal money to the inauguration fund, Fox News reported Friday, citing a source who works with Altman. Amazon and OpenAI did not immediately respond to requests for comment from BI.

Some of the tech leaders are trying to make peace with Trump after he repeatedly criticized them in his first four years at the White House and subsequently sued some of them. Trump has been vocal about wanting to go after Big Tech in his second term as well.

Trump's victory in November set off a chorus of CEOs publicly congratulating him — as well as taking phone calls with the president-elect and trips to Mar-a-Lago.

Trump told CNBC on Thursday that Bezos would visit him "next week" for a dinner, and The Information reported that Google CEO Sundar Pichai would also travel to meet with Trump. In its landmark antitrust case against Google, the Justice Department asked a judge to force Google to sell off Chrome, its web browser.

Zuckerberg and Trump shared dinner at Mar-a-Lago last month months after Trump had threatened to imprison Zuckerberg if reelected. Meta's president of global affairs, Nick Clegg, told reporters earlier this month that Zuckerberg "is very keen to play an active role" in Trump's tech policymaking.

Other big names in business watched Trump ring the opening bell at the New York Stock Exchange on Thursday, the same day he was named Time's Person of the Year.

Onlookers reportedly included Pershing Square CEO Bill Ackman, Citigroup CEO Jane Fraser, Target CEO Brian Cornell, Mastercard CEO Michael Miebach, Goldman Sachs CEO David Solomon, and Verizon CEO Hans Vestberg.

OpenAI CEO Sam Altman and Jeff Bezos’ Amazon plan to donate $1 million each to President-elect Donald Trump’s inaugural fund, according to reports from Fox and The Wall Street Journal.  TechCrunch has confirmed Altman’s plans to personally commit the money, which is not coming directly from OpenAI.    The donations from the billionaires follow plans by […]

© 2024 TechCrunch. All rights reserved. For personal use only.

• Amazon plans to donate $1 million to Trump's inauguration, the same amount as Meta, per reports.
• The moves show Big Tech's effort to mend relations with Trump, who has been critical of the industry.
• Trump said Thursday he wanted to "get ideas" from Big Tech leaders coming to visit him in Mar-a-Lago.

First Meta, now Amazon — Jeff Bezos' company will also reportedly donate $1 million to Donald Trump's inauguration.

The Wall Street Journal reported Amazon would donate the same amount as Mark Zuckerberg's Meta, the latest sign that Big Tech and the president-elect are reconciling.

Trump also told CNBC Thursday that Bezos would visit him "next week," and The Information reported Thursday that Google CEO Sundar Pichai would also travel to meet him.

It comes after Meta CEO Mark Zuckerberg visited Trump at the president-elect's Mar-a-Lago resort for Thanksgiving Eve dinner last month.

″Mark Zuckerberg's been over to see me, and I can tell you, Elon is another and Jeff Bezos is coming up next week, and I want to get ideas from them," Trump told CNBC's Jim Cramer on Thursday.

Spokespeople for Amazon and Trump did not respond to requests for comment.

Meta confirmed to the Journal Wednesday its $1 million donation to the president-elect's inaugural fund. Amazon confirmed its donation to the Financial Times.

The meetings and donations point to a shift in the relationship between tech leaders and Trump, who had previously been critical of them. Trump has previously accused Zuckerberg and Bezos of bias against his administration, among other criticisms.

In previous years, Bezos and Trump have clashed. During his first campaign and term, Trump would take shots at Amazon, once stating that the company was doing "great damage to tax-paying retailers."

Bezos has previously criticized Trump's inflammatory rhetoric, including the president-elect's call at the time to imprison Hilary Clinton.

As Trump took office in 2017, Amazon donated about $58,000 to Trump's inauguration — much less than what other tech companies donated at the time, according to the Journal.

Zuckerberg has criticized Trump's violent remarks on Facebook. In 2021, the social media platform took the extraordinary step of deplatforming Trump after he praised January 6 rioters.

Both tech leaders have appeared to warm up to Trump in recent months.

The Amazon tycoon said at The New York Times' DealBook Summit last week that he's "actually very optimistic" about a second Trump term, saying that Trump has likely "grown in the last eight years" and that he was encouraged by the president-elect's focus on deregulation.

"He seems to have a lot of energy around reducing regulation. If I can help do that, I'm going to help him," Bezos said.

Zuckerberg also appears to be mending his relationship with the president-elect, despite Trump threatening to throw the Meta CEO in prison as recently as July.

After the first assassination attempt against Trump, Zuckerberg called the president-elect a "badass" but stopped short of endorsing him during a Bloomberg interview.

On November 6, Zuckerberg was among the CEOs congratulating Trump's election victory.

"Looking forward to working with you and your administration," Zuckerberg wrote in a Threads post.

• Elon Musk is almost $200 billion richer than Jeff Bezos and worth more than Costco.
• His net worth hit $447 billion after Tesla stock jumped and SpaceX's valuation rose to $350 billion.
• Just five years ago, Musk was worth about $25 billion, and Tesla was valued below $100 billion.

Elon Musk is nearly $200 billion richer than Jeff Bezos, and personally worth more than Costco, after adding $63 billion to his fortune in a single day.

His net worth surged to $447 billion on Wednesday, per the Bloomberg Billionaires Index, after Tesla stock jumped 6% and SpaceX's valuation leaped to $350 billion based on employee share sales.

Musk's fortune has ballooned by $218 billion this year — a sum that exceeds the net worth of every other person on the rich list except Amazon's Bezos ($249 billion) and Meta's Mark Zuckerberg ($224 billion).

Musk is now more than twice as wealthy as Oracle's Larry Ellison ($198 billion), and more than three times as rich as Warren Buffett ($144 billion).

His one-day gain — the largest in the index's history — rivals the total wealth of Binance cofounder Changpeng Zhao, ranked 23rd with a $63.2 billion fortune. It also helped to lift the combined wealth of the 500 richest people on the planet to above $10 trillion for the first time, Bloomberg said.

Musk is now worth more on paper than the vast majority of US public companies, including Costco ($442 billion), Home Depot ($419 billion), and Netflix ($400 billion).

His wealth is largely made up of his roughly 13% stake and some contested stock options in Tesla, and his 42% slice of SpaceX. Musk's other businesses include xAI, Neuralink, The Boring Company, and X Corp, formerly Twitter.

Tesla shares have surged more than 70% this year to $425 at Wednesday's close, valuing the company at nearly $1.4 trillion. That figure comfortably exceeds the roughly $1 trillion market value of Buffett's Berkshire Hathaway and approaches the $1.6 trillion value of Zuckerberg's Meta.

The electric vehicle maker's shares have soared as investors bet it will harness artificial intelligence in revolutionary products such as self-driving cars and humanoid robots.

Musk's prominent role in Donald Trump's campaign, and his emergence as a close advisor to the president-elect who's tasked him with streamlining the US government, have also fueled optimism around his companies.

SpaceX is now valued at $350 billion based on the latest price paid by the company and its backers to buy shares from employees, Bloomberg reported Wednesday. The Starlink owner's valuation was previously $210 billion after a secondary share sale in June.

It's worth underscoring how dramatic Musk's wealth jump has been. He was worth less than $170 billion as recently as April, and only about $25 billion five years ago — around 1/18 of his net worth now.

Tesla was worth less than $100 billion during the Covid crash of 2020, or about 1/14 of its valuation today.

• Many executives say they've learned valuable lessons on business from books.
• Elon Musk, Jeff Bezos, and Bill Gates are no exception.
• Here are 20 books they've said taught them a lot about business, leadership, and the forces shaping our world.

You learn by doing — but you can also learn a lot by reading.

Many influential business figures, including Tesla CEO Elon Musk, Amazon cofounder Jeff Bezos, and Microsoft cofounder Bill Gates say they've learned some of the most important lessons in their lives from books.

They've recommended countless books over the years that they credit with strengthening their business acumen and shaping their worldviews.

Here are 20 books recommended by Musk, Bezos, and Gates to add to your reading list:

Jeff Bezos

Some of Bezos' favorite books were instrumental to the creation of products and services like the Kindle and Amazon Web Services.

"The Innovator's Solution"

This book on innovation explains how companies can become disruptors. It's one of three books Bezos made his top executives read one summer to map out Amazon's trajectory.

"The Goal: A Process of Ongoing Improvement"

Also on that list was "The Goal," in which Eliyahu M. Goldratt and Jeff Cox examine the theory of constraints from a management perspective.

Buy it here >>

"The Effective Executive"

The final book on Bezos' reading list for senior managers, "The Effective Executive" lays out habits of successful executives, like time management and effective decision-making.

"Built to Last: Successful Habits of Visionary Companies"

This book draws on six years of research from the Stanford University Graduate School of Business that looks into what separates exceptional companies from their competitors. Bezos has said it's his "favorite business book."

Buy it here >>

"The Remains of the Day"

This Kazuo Ishiguro novel tells of an English butler in wartime England who begins to question his lifelong loyalty to his employer while on a vacation.

Bezos has said of the book, "Before reading it, I didn't think a perfect novel was possible."

Buy it here >>

"Lean Thinking: Banish Waste and Create Wealth in Your Corporation"

This book imparts lessons about improving efficiency based on case studies of lean companies across various industries.

Buy it here >>

Elon Musk

The Tesla CEO has recommended several AI books, sci-fi novels, and biographies over the years.

"What We Owe the Future"

One of Musk's most recent picks, this book tackles longtermism, which its author defines as "the view that positively affecting the long-run future is a key moral priority of our time." Musk says the book is a "close match" for his philosophy.

"Superintelligence: Paths, Dangers, Strategies"

Musk has also recommended several books on artificial intelligence, including this one, which considers questions about the future of intelligent life in a world where machines might become smarter than people.

Buy it here >>

"Our Final Invention: Artificial Intelligence and the End of the Human Era"

On the subject of AI, Musk said in a 2014 tweet that this book, which examines its risks and potential, is also "worth reading."

Buy it here >>

"Life 3.0: Being Human in the Age of Artificial Intelligence"

In this book, MIT professor Max Tegmark writes about ensuring artificial intelligence and technological progress remain beneficial for human life in the future.

"Zero to One: Notes on Startups, or How to Build the Future"

Peter Thiel shares lessons he learned founding companies like PayPal and Palantir in this book.

Musk has said of the book, "Thiel has built multiple breakthrough companies, and Zero to One shows how."

Buy it here >>

"Einstein: His Life and Universe"

Musk's reading list isn't without biographies, including this Walter Isaacson book on Albert Einstein as well as Isaacon's biography of Benjamin Franklin. Isaacson more recently published a biography of Musk himself.

Buy it here >>

Bill Gates

The Microsoft cofounder usually publishes two lists each year, one in the summer and one at year's end, of his book recommendations.

"How the World Really Works"

In his 2022 summer reading list, Gates highlighted this work by Vaclav Smil that explores the fundamental forces underlying today's world, including matters like energy production and globalization.

"If you want a brief but thorough education in numeric thinking about many of the fundamental forces that shape human life, this is the book to read," Gates said of the book.

"Why We're Polarized"

Ezra Klein argues that the American political system has became polarized around identity to dangerous effect in this book, also on Gates' summer reading list in 2022, that Gates calls "a fascinating look at human psychology."

"Business Adventures: Twelve Classic Tales from the World of Wall Street"

Gates has said this is "the best business book I've ever read." It compiles 12 articles that originally appeared in The New Yorker about moments of success and failure at companies like General Electric and Xerox.

Buy it here >>

"Factfulness: Ten Reasons We're Wrong About the World—and Why Things Are Better Than You Think"

This book investigates the thinking patterns and tendencies that distort people's perceptions of the world. Gates has called it "one of the most educational books I've ever read."

Buy it here >>

"Origin Story: A Big History of Everything"

David Christian takes on the history of our universe, from the Big Bang to mass globalization, in this book.

Buy it here >>

"The Sixth Extinction: An Unnatural History"

Elizabeth Kolbert plumbs the history of Earth's mass extinctions in this book, including a sixth extinction, which some scientists warn is already underway.

Buy it here >>

"The Myth of the Strong Leader: Political Leadership in the Modern Age"

This Archie Brown book examines political leadership throughout the 20th century.

Buy it here >>

"The Coming Wave"

One of Gates' most recent book picks comes from the head of Microsoft AI.

Mustafa Suleyman's "The Coming Wave" explores the opportunities and risks posed by scientific breakthroughs like AI and gene editing.

"If you want to understand the rise of AI, this is the best book to read," Gates wrote of the book.

• Jeff Bezos prefers "messy" meetings to rehearsed ones for genuine discussions.
• Bezos emphasized seeking truth in meetings, not polished pitches or presentations.
• His ideal meetings include six-page memos, a study period, and open, messy discussions.

Amazon founder Jeff Bezos prefers "messy" meetings to ones that team members have rehearsed, he told The New York Times DealBook Summit last week.

The world's second-richest person and owner of the Washington Post said his approach to internal meetings is to not finish them until he feels that everything has been discussed.

"Messy is good," Bezos told The New York Times.

Bezos explained that most of the meetings he considers useful have six-page memos, a 30-minute "study hall" period to read them, and then a messy discussion.

"I like the memos to be like angels singing from on high, so clear and beautiful," he said. "And then the meeting can be messy."

Bezos said that internal presentations should be about seeking the truth — not pitches to him or any senior executive.

"You don't want the whole thing to be figured out and presented to you," he said, adding that he would prefer to be part of the "sausage-making" process.

"I'm very skeptical if the meeting's not messy," he said.

"Show me the ugly bits. I always ask, are there any dissenting opinions on the team? I want to try to get to the controversy," Bezos said.

"Let's make this meeting messy. Help me make it messy."

Bezos is well known for his strong views about how meetings should be run, particularly what has become known "two-pizza rule," where a meeting is limited to the number of people that could be fed with two large pizzas. He also dislikes the use of PowerPoints in company meetings.

YYou've just been added to a meeting. It's late afternoon, late in the week, and someone is presenting a deck. Geez, here we go. The presenter reads words that you can also read from a bulleted list on a lightly decorated page projected before you. Next slide. Because you've seen hundreds of PowerPoint presentations since your sixth-grade science-fair days, you instinctively know this one's going to take the full hour. Eyes glaze over, yawns are stifled. Next slide. The presenter attempts to play an embedded video, but the audio doesn't work. "You get the idea" though. Next slide.

Nearly four decades after the launch of PowerPoint, the slide deck remains one of the most dominant forces shaping how we think — and don't think — about our work. From startup pitches to Pentagon procurement timetables, from quarterly board meetings to annual harassment trainings, billions of presentations are given each year in a single rigid, information-squishing format, on PowerPoint or its imitators Keynote, Google Slides, or now Figma Slides. Humanity continues to cram compelling and vital information into single-idea slides, strip these ideas of context, and read them aloud among a flurry of GIFs, charts, and animated wipes and swipes. Rarely does the deck — which by design dictates a one-sided style of conversation — elicit robust questions from or conversation with the audience. We are constantly pitching our bosses, their bosses, investors, and each other via a one-size rhetorical tool that doesn't really fit all.

But some are finally thinking outside the deck. Jeff Bezos, Elon Musk, Sundar Pichai, and military top brass have been bad-mouthing and even banning slide presentations from meetings, instead favoring memos or even old-fashioned, visual-aid-free, raw-dogged discussion. Rippling, which makes HR and payroll software, has done the impossible: complete a funding round (a $45 million Series A) without a deck. Several startups, including one from Edward Norton — yes, the actor — have launched alternatives to the deck. It appears that even three Academy Award nominations cannot spare one's life from the stultifying ubiquity of decks, and Norton and his two cofounders at Zeck are on a mission to vanquish it.

Is the deck in jeopardy? Are we at last approaching a day when "this meeting could have been an email" lives alongside "this meeting could have gone without a deck"? Next slide.

For most of the 20th century, workplace meetings were typically small and informal discussions with a few colleagues. By the 1980s, the computer revolution was generating loads more information for every business to digest and act on. This meant more and bigger meetings across departments, which meant more presentations, which usually meant slide projectors. But those presentations were clunky, finicky, and laborious to make.

Then, in the mid-'80s, an ailing software startup called Forethought developed a first-of-its-kind graphics program in which computer users could string together a series of slides. Originally called Presenter, it was released in April 1987, as PowerPoint. Microsoft immediately saw its world-changing potential, buying Forethought just four months later for $14 million. For one thousandth of the nearly $14 billion the company has invested in OpenAI, Microsoft acquired a program that remains arguably more consequential to how businesses operate. By 1993, Microsoft was raking in $100 million from PowerPoint sales a year; by 2003, $1 billion. Microsoft estimated that 30 million PowerPoint presentations were being made every day.

Decks have no shortage of zealots, including my former boss. When I worked at BarkBox, Nick Cogan, a vice president of creative, always had us making decks — not just for big retail pitches but for every little task. Product planning, style guide, whatever it was, we'd make a deck. I maybe want him to apologize for all the deck wrangling, but he laughs and doesn't give an inch defending them, which, as a former animator, he loves for their storytelling capabilities. "'Look at this, not us' can be essential when presenting," he says. He describes the perfect presentation as both a "useful crutch" and a "little kids' storybook," where he can walk the great and mighty decision-makers through storytime instead of business time.

Christina Farr, a healthtech director and investor who wrote a book about storytelling in business, agrees, arguing that the deck actually draws its power from its ubiquity. Because people are used to both writing and receiving decks, "people know what the story should sound like," and the expected rhythms and beats of a PowerPoint presentation "are already baked in." But it's not just an emotional expectation, she says — it's also a formal one: "If you're raising money, in 2024, you have to have a deck. Everybody expects you to do it."

True, but there's also been no shortage of deck denigrators. In 2003, the media theorist Edward Tufte published "The Cognitive Style of PowerPoint," which remains one of the most deliciously damning indictments of a software program ever written. Over several thousand words, Tufte flambés PowerPoint, and "slideware" in general, for "making us stupid, degrading the quality and credibility of our communication, turning us into bores, wasting our colleagues' time." Though PowerPoint was developed and even celebrated as a "cure for the presentation jitters," Tufte maligns it as overly oriented toward the presenter, leaving little room for the listener to chime in or even actively listen. Tufte even goes so far as to blame PowerPoint's "poverty of content" and its "foreshortening of evidence and thought" for the Space Shuttle Columbia disaster.

The jeremiad had many admirers, including Jeff Bezos. Inspired by Tufte, the Amazon CEO in June 2004 banned PowerPoint from executive meetings. The book "Working Backwards: Insights, Stories, and Secrets from Inside Amazon" describes Bezos as finding slide decks "frustrating, inefficient, error-prone," with a stiff format that "made it difficult to evaluate actual progress." In its place the company developed what's become known as the Amazon Six-Pager: a detailed memo outlining — in narrative prose, not bullet points — the conversations and business problems that have surfaced the need for a meeting. In a deck, information takes a back seat to form and format; the memo, in contrast, forces the presenter to embody a Joan Didion axiom: "I don't know what I think until I write it down." Attendees read the six-pager before the meeting, so everyone can enter the meeting informed and be held accountable for the decisions made out of the discussion.

"I hate the way people use slide presentations instead of thinking," Steve Jobs once opined, adding that "people who know what they're talking about don't need PowerPoint." Even Steve Ballmer, who sits atop literal millions and owns the Los Angeles Clippers in part because of PowerPoint money, maligned decks while he was CEO of Microsoft. "I don't think it's efficient," he said in 2011, adding, "Most meetings nowadays, you send me the materials and I read them in advance. And I can come in and say: 'I've got the following four questions. Please don't present the deck.'" Over the years, many members of the US military have cast aspersions toward what they call "death by PowerPoint."

"The incentive structures for a slide deck are all bad," says Aviv Gilboa, the president of Skylight, a consumer tech company known for its digital picture frames and calendars. To Gilboa, who worked at Amazon for four years, decks aren't just boring, they're antithetical to many ways we think and work. The format of a single slide is inherently low-information: When you're pitching, you're persuading, and so you can fit only one idea per slide, often forcing you to leave some good ideas behind.

Gilboa says decks also help presenters feel good without forcing them to engage with their decisions. Decks help reinforce this perception of assurance, what Gilboa calls "the smoke and mirrors of how we got to this choice." As I sat at BarkBox making decks every which way for every little business problem, I felt like a purveyor of both smoke and mirrors, no matter what my boss said about storytelling.

Many of our workplace problems have evident solutions made possible by software — for example, Google Docs, a miracle program that replaced back-and-forth documents and version control with fluid, collaborative workflow. But like many in the PowerPoint mines, I'm not sure what alternative could possibly replace slides at scale.

Zeck was born in 2022 out of its cofounders' rage at decks, especially in board meetings. "At our prior companies, the shortest deck we ever sent was 134 pages," Zeck's cofounder Robert Wolfe tells me, adding that "there was nothing more stressful" about preparing for those meetings. He says that at CrowdRise, the company he ran with his brother Jeffrey and Edward Norton, they'd stop all other work for 100 hours before every board meeting in order to write and build the quarterly decks they hated enough to found Zeck. In a nod to Norton, Wolfe integrated a "Fight Club" reference into the origin story on Zeck's website: "The meeting I just sat through was like the scene in Fight Club where you punch yourself in the face over and over."

To Wolfe, the deck model "literally creates antagonism" — everyone becomes an editor with a red pen, the deck presenting endless entry points for criticism. In the military or an everyday office, grunts and junior designers hate working on PowerPoints, tweaking pixels and making rounds of edits that drive everyone crazy, because in PowerPoint you're often not working on the idea, but only on the presentation of the idea.

Zeck proposes that the solution to the deck is a collaborative website. A Zeck site feels a bit like a Notion site but with tweaks that work well for the boardroom — it gives everyone edit access, is encrypted, can be personalized, and offers links so that your chief financial officer or finance team can access full reports and charts and important information. It is a revelation to not have that information simplified in a slide in a meeting where everyone has to sit through everything. And in Zeck's pitch I find a great clarity equaled so far only by Tufte himself: When we remove the awful slide deck, once again "the meeting can be a meeting." So far, Zeck counts among its clients Hard Rock Hotel & Casino, furniture maker Floyd, and the rocket startup Phantom Space Corporation.

While Zeck is unlikely to supplant PowerPoint any time soon, Wolfe thinks people are finally rebelling against the idea "that you only have Office and all the tools that go with it, or a Google Drive and all the tools that go with it." He makes a brazen prediction: "I would be shocked if in 18 months or five years people are still using flat slides for meetings that should be collaborative."

We aren't yet letting go of decks in business, but we've let them hop the fence into our wider culture, both celebrating and undermining their repressive formality and ubiquity. The post-irony generations are throwing "PowerPoint parties," and some singles, sick of dating apps, are using PowerPoint to make their cases as mates. A 2021 episode of the Bravo reality show "Summer House" featured a subplot built around a romantic gesture delivered via PowerPoint. For some, slides may be a love language. There are even famous decks now, like this 300-pager in which a hedge-fund excoriated Olive Garden's business practices, or, my favorite, Jennifer Egan's PowerPoint chapter from her 2010 Pulitzer Prize-winning novel, "A Visit from the Goon Squad."

Egan tells me she got a crash course in the program from her business-world sister, who "thinks in PowerPoint." The formal experiment of a PowerPoint chapter was exciting, though the "cold, corporate vibe" was perhaps incompatible with real, genuine emotion and the stuff contained in great novels. She suggests this tension gives the finished chapter — "Great Rock and Roll Pauses," the 12-year-old protagonist Alison Blake's account of her autistic brother's favorite pauses in classic rock songs interspersed with descriptions of their mom and dad coming and going, fighting and reflecting — its power. The chapter delivers earnest emotion without being schlocky, and is brave and hilarious without being corny. Egan says she isn't typically this type of writer, but the PowerPoint format gave her the ability to tell "this very sweet story in a cold holder."

Perhaps the PowerPoint parties and Egan have it right and we should let PowerPoint do what it does best: tell stories. For Egan, a deck arguably won a Pulitzer. For NASA, a deck arguably killed astronauts. In the big middle between those outcomes, we're still deciding whether a story is always what's necessary — and what to do about decks.

Matt Alston's writing has appeared in Wired, Rolling Stone, Playboy, and Believer. He trained as a civil engineer, and now works as a copywriter in tech. He lives in Maine with his wife and daughter.

Blue Origin says it’s on track to launch its towering New Glenn vehicle before the year’s end, though the company is still awaiting regulatory approval to conduct a final key test of the massive rocket.  That test, called a “hot fire,” involves powering up all seven of the first stage’s BE-4 engines and firing them […]

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• Jeff Bezos and Donald Trump have been at odds over the years.
• However, Bezos says Trump has "probably grown in the last 8 years" and he'd like to help him in "reducing regulation."
• The two men recently had dinner at Mar-a-Lago.

A dinner between Donald Trump and Amazon founder Jeff Bezos is the latest development in their history, which has seen both men criticize each other publicly.

Bezos has spoken out against Donald Trump in the past — and vice versa. However, Bezos has changed his tune on the president-elect, saying he is feeling optimistic now about Trump's return to the Oval Office.

Speaking at The New York Times' DealBook Summit earlier this month, Bezos said he's "actually very optimistic" about another Trump term.

"What I've seen so far is he is calmer than he was the first time and more settled," he said. "You've probably grown in the last eight years. He has too."

Bezos said he's also encouraged by Trump's deregulation aims, which include his newly created Department of Government Efficiency, headed by Vivek Ramaswamy and Elon Musk, a Trump ally and major donor to his campaign.

"He seems to have a lot of energy around reducing regulation. If I can help do that, I'm going to help him," Bezos said.

Bezos, alongside fiancée Lauren Sánchez, recently met with Trump at Mar-a-Lago for dinner, joined by Musk.

The billionaire Amazon founder and Trump have been contentious at times. In 2016, Bezos said Trump's wish to lock up Hillary Clinton or refuse to accept a loss in that election "erodes our democracy around the edges."

"One of the things that makes this country as amazing as it is, we are allowed to criticize and scrutinize our elected leaders," Bezos said at the time.

"An appropriate thing for a presidential candidate to do is say, 'I am running for the highest office in the world, please scrutinize me,'" he continued. "That's not what we've seen. To try and chill the media and threaten retribution and retaliation, which is what he's done in a number of cases, it just isn't appropriate."

Following Trump's election that year, Bezos was one of several tech leaders who met with the president-elect in a summit Bezos later described as "very productive." Introducing himself in the meeting, Bezos added that he was "super excited about the possibilities this could be the innovation administration."

Trump and Amazon

While campaigning for the 2016 presidential election, Trump said Amazon would have "such problems" if he became president.

In 2017, he tweeted that the company was "doing great damage to tax paying retailers" and that "towns, cities and states throughout the U.S. are being hurt."

He repeated similar sentiments the following year, saying that Amazon was pushing smaller retailers out of business.

Trump has also said on multiple occasions that Amazon should be paying more for USPS deliveries.

"Why is the United States Post Office, which is losing many billions of dollars a year, while charging Amazon and others so little to deliver their packages, making Amazon richer and the Post Office dumber and poorer?" he tweeted in 2017. "Should be charging MUCH MORE!"

In 2019, Amazon filed a federal complaint challenging the Department of Defense's decision to award Microsoft a $10 billion contract to move sensitive data to a cloud server rather than Amazon Web Services.

The company said in the complaint that Trump swayed the decision to "pursue his own personal and political ends" and to harm Bezos, "his perceived political enemy." Amazon said Trump made "repeated public and behind-the-scenes attacks" about the company and Bezos, who was still CEO at the time.

In 2021, the DoD canceled the contract with Microsoft and announced a multi-vendor contract to seek proposals from Microsoft and AWS as "the only Cloud Service Providers (CSPs) capable of meeting the Department's requirements."

Trump and The Washington Post

Trump has repeatedly criticized The Washington Post, which Bezos owns.

In 2019, Trump bashed Bezos and the Post as he appeared to talk about Bezos' divorce from MacKenzie Scott.

"So sorry to hear the news about Jeff Bozo being taken down by a competitor whose reporting, I understand, is far more accurate than the reporting in his lobbyist newspaper, the Amazon Washington Post," Trump wrote on X. "Hopefully the paper will soon be placed in better & more responsible hands!"

For the first time in decades, the newspaper didn't publish an endorsement of a presidential candidate in 2024. Bezos reportedly intervened to block an endorsement of Kamala Harris that had already been drafted.

Bezos later wrote an op-ed defending the newspaper's decision to decline to endorse, saying endorsements "create a perception of bias" and "do nothing to tip the scales of an election."

Trump and Bezos

After the assassination attempt on Trump at a Pennsylvania rally in July 2024, Bezos broke a hiatus of nearly nine months on X, formerly known as Twitter, to write, "Our former President showed tremendous grace and courage under literal fire tonight. So thankful for his safety and so sad for the victims and their families."

Following Trump's second election win, Jeff Bezos congratulated him on "an extraordinary political comeback and decisive victory," wishing the president-elect "all success in leading and uniting the America we all love."

CEOs and business leaders quickly began making the journey to Mar-a-Lago in Florida to meet with the president-elect, and Trump mentioned that a dinner with Bezos was planned.

″Mark Zuckerberg's been over to see me, and I can tell you, Elon is another and Jeff Bezos is coming up next week, and I want to get ideas from them," Trump told CNBC's Jim Cramer in December.

After Meta confirmed plans to donate $1 million to Trump's inauguration fund, Amazon followed suit with its own $1 million donation.

Bezos and Trump ended up dining together, and were joined by Musk, who said it was a "great conversation."

• Jeff Bezos said he's "putting a lot of time" into Amazon despite stepping down as CEO in 2021.
• Bezos said Wednesday at the DealBook Summit that he's spending 95% of his time at Amazon on AI.
• Amazon announced this week it's building a supercomputer with Anthropic to enhance AI capabilities.

Jeff Bezos stepped down as CEO of Amazon over three years ago, but he's still putting in the hours at the company to help it in the AI race.

Speaking at The New York Times's DealBook conference on Wednesday, the billionaire said he's still deeply involved and hasn't fully left the company he founded 30 years ago.

"My heart is in Amazon, my curiosity is in Amazon, and my fears are there and my love is there," Bezos said. "I'm never going to forget about Amazon. I'll always be there to help, and right now, I'm putting a lot of time into it. I can help, and it's super interesting, so why not?"

Bezos said that 95% of his time at Amazon is spent focusing on AI within the company, which he said is building 1,000 AI applications internally. One such application is a multimodal model that can process images, video, and text, The Information recently reported.

The company requires a significant amount of computing power to scale its AI ambitions, so it's building a supercomputer using its own chips alongside Anthropic, the AI startup that it has invested $8 billion in, to give it an edge against its Big Tech rivals.

Bezos, who remains at Amazon as its executive chairman, also said one of his jobs is to ensure the success of its CEO, Andy Jassy, and the leadership team.

The world's second-richest man said on an episode of the "Lex Fridman Podcast" last year that the main reason he left his role as the CEO of Amazon in 2021 was so he could focus his time on his rocket company, Blue Origin. At the DealBook Summit, Bezos said it was "not a very good business yet" but predicted it would eventually surpass Amazon and become "the best business" he's been involved in.

Bezos also told the Dealbook Summit audience that he's not worried about Donald Trump's second term, saying he's "actually very optimistic this time around."

Bezos is not the only tech founder to return to a company after taking a step back. Google cofounders Larry Page and Sergey Brin both got back in the mix to work on AI initiatives after leaving their executive roles in 2019.

Their return to Google appeared to be sparked by the launch of OpenAI's ChatGPT in 2022, which led to Google's management issuing a "code red," The New York Times reported at the time. ChatGPT's successful rollout caught Google off guard and triggered concerns about the future of its search engine, so its CEO, Sundar Pichai, turned to Page and Brin for help, according to The Times.

Amazon didn't immediately respond to a request for comment from Business Insider, made outside normal working hours.

• Ethan Evans, a former Amazon VP, led a failed project in 2011 that interrupted Jeff Bezos' launch plans.
• The failure involved a critical design flaw in the Amazon Appstore's "Test Drive" feature.
• It taught Evans to communicate in a crisis, take ownership of a problem, and rebuild trust slowly.

I worked at Amazon for 15 years, starting in 2005 as a senior manager. When I left in 2020, I was a vice president.

My biggest launch failure was in 2011 on a project Jeff Bezos personally cared about. The failure interrupted Bezos' plan to present the feature publicly, causing me to miss my promotion and almost leave the company. However, I went on to be promoted from director to VP and have a long and happy career.

I learned a lot about dealing with a crisis and rebuilding trust as well as a lot about Bezos as a leader. He taught me the importance of maintaining high standards while being willing to forgive and move on.

Here's the story of my biggest failure

When I started at Amazon, I was assigned to Prime Video and had periodic direct exposure to Bezos.

When I was promoted to director, I continued working with Bezos on creating Amazon Studios. Throughout my first six years at the company, I met with him at least once a quarter about one of my projects.

In 2010, I started working on the Amazon Appstore. We planned a new feature called "Test Drive," which allowed you to simulate an app on your phone before buying it.

Bezos was excited about this feature and planned to make it the focus of his launch announcement. At the time, when Amazon launched something new, the company would replace the normal homepage with a personal letter from him explaining the new offering.

Our launch's "Jeff Letter" focused on the "Test Drive" feature. The night before the launch, our team launched the new store.

Everything except the "Test Drive" feature was working well

We worked through the night to debug the intermittent failures, but as morning came and the announcement was supposed to go out, the feature wasn't working. At 6 a.m., I got an email from Bezos asking why his letter was not on the homepage.

I replied that we were working on some problems, hoping he would get in the shower, go on the treadmill, or do anything else to buy us more time. Within a few minutes, he responded and asked, what problems?

All hell broke loose.

The VP and SVP above me both woke up and started asking questions, and more and more leaders were CC'ed into the email thread. We quickly realized that our feature had some critical design flaws and wouldn't be a quick or easy fix.

The first three lessons I learned were during the crisis, and the next three were learned after.

Mid-crisis

Lesson one: Communicate clearly and predictably

I began sending hourly updates to Bezos and the other leaders, working to slowly re-establish trust. Each message briefly explained where we stood and what we would be doing in the next hour, and they each promised a further update in the next hour.

Lesson two: Accept help

Other leaders who had experienced similar problems reached out and offered help from their teams, so within a couple of hours, several very senior engineers were working with my team.

They quickly figured out the problems and announced that we had a design flaw that needed to be re-written. The temporary solution was to work around it with extra hardware. Without this workaround, it could've been days before the feature was up and running.

Lesson three: No all-night launches

Planning an early morning launch that required us to work all night became an obvious flaw. I needed to be sharp to manage the crisis, and my team needed to be able to help with the fixes. We started rotating people home to sleep in shifts, and we learned never to accept a launch schedule that would put us in this position again.

As my team and I became increasingly exhausted, Bezos became increasingly frustrated. He wanted a fix that day. This led to the other leaders ramping up the pressure, and the weight on us kept getting heavier.

We were finally saved when the CTO, Werner Vogels, intervened and said the team could not fix this problem in one day. Bezos fell silent on the email threads.

Over the next few days, we patched the design problem and rewrote the code to eliminate the issue, but as the technical obstacles were removed, the management problems only increased.

The "Jeff Letter" never went live on the website. By the time we had everything fixed and tested, the news cycle had moved on, and Bezos' moment to tell his customers about the exciting new feature was gone.

After the crisis

Lesson four: Own the problem

My direct report volunteered to take the fall. The engineer who wrote some of the code did the same. My manager also sought to take overall responsibility. Ultimately, Bezos knew it was my team and code, meaning I had to own the problem.

Amazon has a process called COE (Correction of Errors), which involves a written investigation of a problem's root causes and a plan to prevent similar problems in the future. I wrote this report and was asked to share it with all my peers in the organization. Publicly sharing an analysis of our mistakes was embarrassing, but doing a good job of it helped me re-establish trust in my leadership ability.

The week after the launch, I was scheduled to attend a meeting with Bezos about another project. I considered skipping it, but I decided that if I couldn't face Bezos, I should probably pack my desk and find a new place to work.

I went to the meeting.

Bezos always sat in the same chair in his conference room. I went early and chose a chair right next to where he would sit. He came in, sat next to me, and ran the meeting. As the meeting ended, he asked me how I was doing because it must've been a tough week.

Bezos showed empathy for my experience and concern for my well-being. He could've just as easily asked for a status report or taken me to task for the problems; instead, he chose to focus on me as a person rather than on any frustration or curiosity about the project.

Lesson five: Face your leaders

Don't hide. I understand the temptation to avoid those who might criticize you, but facing Bezos reassured me that he was over his initial frustration and was willing to give me the time to rebuild trust.

In short, going to the meeting allowed me to stay at the company. I knew my job was on the line, and a single word from Bezos would've sent me packing.

Lesson six: Patiently rebuild trust

I'd been close to a promotion to VP, but now I had to re-establish that I could operate a key business carefully and consistently. I was eventually promoted, but it took two more years.

I learned that trust can be rebuilt but that it takes time.

Bezos taught me how important it is to hold your teams to high standards but also be willing to forgive and move on. He chose to be kind, empathize, and offer encouragement to me, which inspired me to spend the rest of my corporate career with Amazon.

I left in 2020, less than a year before Bezos stepped down, to focus on teaching leadership lessons to the next generation.

An Amazon representative didn't comment on this story when contacted by Business Insider.

Ethan Evans is a retired Amazon vice president with over 23 years of experience as a business executive.

• Donald Trump has singled out Jeff Bezos for criticism in the past.
• But Bezos says that was the past. He thinks Trump's pitch to cut regulations in the US is a good one, and he wants to help.
• Also on Bezos's agenda: Convincing Trump that the media — including The Washington Post, which he owns — is not the enemy.

Some people are very worried about the coming Trump administration.

Jeff Bezos is not one of them.

Or, more accurately, the world's second-richest man says he's not worried about Trump 2.0, even though Trump has singled him out in the past. And Bezos says he could be a Trump ally because he wants to help the next president cut red tape.

"I'm actually very optimistic this time around," he said at The New York Times's DealBook conference on Wednesday. "I'm very hopeful. He seems to have a lot of energy around reducing regulation. And my point of view [is], if I can help him do that, I'm going to help him. Because we do have too much regulation in this country."

Bezos also took pains to paint Trump as someone who evolved over the past few years.

"What I've seen so far is that he is calmer than he was first time," he told interviewer Andrew Ross Sorkin. "More confident, more settled."

Bezos joins a line of business leaders — including many of his peers in tech — who have gone out of their way to say nice things about Trump in public following his election win. It's a marked contrast from the reception Trump got after his first successful election.

It's possible Bezos really does feel good about Trump's second term. "I've had a lot of success in life not being cynical," he said Wednesday.

On the other hand, Bezos would certainly be happier if he didn't have to spend the next four years worried about problems Trump could pose for many of his interests. That includes Amazon, which he no longer runs day-to-day but still accounts for the overwhelming majority of his net worth; Blue Origin, his rocket company that competes with Trump ally Elon Musk's SpaceX; and The Washington Post.

And Bezos's critics say his decision to have the Post not make a presidential endorsement this year was an attempt to placate Trump. On Wednesday, Bezos insisted that wasn't the case, reiterating the argument he made before the election: Not making an endorsement makes the Post more trustworthy.

But Trump has repeatedly called the media "the enemy." Won't he continue to treat the Post, and its owner, that way once he takes office next year?

"I am going to try to talk him out of that idea," Bezos said. "I don't think he's going to see it the same way, but maybe I'll be wrong."

• Tenstorrent just closed its latest funding round, valuing the company at about $2.6 billion.
• The startup computing company aims to rival Nvidia with more affordable AI chips and processing.
• The nearly $700 million round attracted investors Samsung, Bezos Expeditions, and LG Electronics.

In its latest funding round, Tenstorrent, a startup computing company that builds powerful AI hardware and software to compete with Nvidia, attracted big-name investors — including Jeff Bezos and Samsung.

A company statement released Monday said its Series D funding round raised $693 million, valuing the AI chip startup at about $2.6 billion, per Bloomberg. Samsung Securities and AFW Partners, a venture capital investment firm based in Seoul, led the round, along with Bezos Expeditions, LG Electronics, and Hyundai Motor Group, among other investors, Tenstorrent announced.

"We are excited by the breadth of investors that believe in our vision," Tenstorrent COO Keith Witek said in the statement. "If you look at this group, you see a balance of financial investors and strategic investors, as well as some notable individuals that have conviction in our plans for AI. They respect our team, our technology, and our vision. They see the ~$150M in deals closed as a strong signal of commercial traction and opportunity in the market."

Tenstorrent was founded in 2016 by Ljubisa Bajic, Ivan Hamer, and Milos Trajkovic. In 2020, Jim Keller, a prolific microprocessor engineer known for his work at Apple and Tesla, joined the company as its chief technology officer and became CEO in 2023. The operation, with 10 offices worldwide, builds AI hardware, offers open-source software for chip builders, and licenses products to clients who want to design their own silicon.

While still a fraction of the size of Nvidia, Tenstorrent aims to siphon off a portion of the chipmaking giant's massive market share by offering increased interoperability with other tech providers using an open-source approach that relies on more commonplace technology, Bloomberg reported.

Tenstorrent advocates the use of an open standard instruction set architecture called RISC-V. Designed by computer scientists at the University of California, Berkeley, RISC-V defines how software controls the CPU in a computer and is offered under royalty-free open-source licenses.

Nvidia's approach has instead focused more on the proprietary, from its chips to specific data center layouts, making it difficult for some of Nvidia's customers to switch to chips from competing companies without incurring tremendous costs.

"In the past, I worked with proprietary tech, and it was really tough," Keller told Bloomberg. "Open source helps you build a bigger platform. It attracts engineers. And yes, it's a little bit of a passion project."

A spokesperson for Nvidia declined to comment. Representatives for Tenstorrent, Samsung, and Bezos Expeditions did not immediately respond to requests for comment from Business Insider.

AI hardware startup Tenstorrent raised nearly $700 million in new funding. Tenstorrent raised a $693 million Series D round that values the company at more than $2.6 billion, Bloomberg first reported. The round was led by Samsung Securities and AFW Partners. Other investors include Hyundai and Jeff Bezos’ Bezos Expeditions, among others. The Toronto-based company […]

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• Some journalists are leaving their jobs and starting one-person subscription businesses.
• Jason Koebler and three other veterans of Vice Media wanted to build something bigger: an actual news site.
• They launched 404 Media in the summer of 2023. Today, it looks like a sustainable success story.

Lots of people dream of quitting their jobs and going into business for themselves. Jason Koebler and three co-workers actually did it. It looks like it's working.

In the summer of 2023, Koebler, who used to edit Vice Media's Motherboard tech section, and three former Vice co-workers launched 404 Media, a tech news site they co-own. Each of them kicked in $1,000 to get it off the ground.

Fast-forward to today, and Koebler says the company is already generating something in the $900,000-a-year range, funded almost entirely with subscriptions. Even after tech and legal costs, that's enough to call 404 a success. And that allows them to write whatever they want: Like this recent piece looking at Elon Musk and Twitter/X's involvement in the Alex Jones bankruptcy case.

This self-funded business model isn't going to work for everyone and everything. But in a grim climate for media in general and journalism specifically, it's great to hear about things that work. You can hear the entire conversation I had with Koebler on my Channels podcast; what follows are edited excerpts from our chat.

It seems like you guys are making a real business here: You can pay the four of yourselves grown-up journalism salaries.

We are. It's going better than I could have ever imagined. We're also at a point where I think we'll be able to bring new employees on.

When you launched, what did you think you'd need to do, at minimum, to keep this afloat? Did you think about a scenario where it's working, but you needed to have side gigs?

When we decided to do this, we launched in August 2023, and we told ourselves that we would do it until January.

And right after we launched, in the first couple of days, we got like 600 subscribers. We fell into this kind of middle ground — enough people signed up that there was clearly an audience, but not enough signed up where [we knew this was] definitely going to work.

It was unclear whether it was going to survive, even though the response was amazing.

But then the really cool thing was every time we had a big scoop or a big story, we got new subscribers.

Your structure is egalitarian. I'm assuming you're all getting paid equally.

We're all the same. We're all 25% owners. The management of the company has been easier than I thought that it would be. I think that if we were to grow, we would probably have to figure out how to manage new hires, and what ownership would look like then.

What happens when you guys have a throw-down and then the vote is two vs. two?

There are no votes. We told each other from the outset that anyone can veto anything. So, if any one person is like "I hate this idea," then we just don't do it.

I wanted to ask you about this great piece you wrote recently: "The Billionaire Is the Threat, not the Solution." It's a personal story about your dad who worked on the printing presses of The Washington Post for decades. And about Jeff Bezos and the non-endorsement story. Your argument is that you're going to continue to have these problems as long as you're looking for billionaires to own your media.

I agree with you. I don't think we can rely on billionaires to fund our media. And this model that you've built works for you and your three coworkers and co-owners. But it can't work for everything. What kind of journalism does your model support? What does it not support?

This sort of subscription, independent model works for us. We've created four journalism jobs. Other independent media companies have created a few dozen more. But it's still like a tiny, tiny drop in the bucket.

My theory is that there can be a lot of them. I really do think that. 7,000 people have subscribed to us. The market can support a lot more of these.

But what are the kinds of stories and projects you can't do because you don't have apparatus, staff, whatever?

I think that there's the "spend three, six, 12 months on an investigative story and then publish it and maybe it wins an award and tons of people read it — or maybe no one reads it" is a model we're not even trying to do. I think that's an important model and maybe one better suited for nonprofits and The New York Times and Washington Post.

I think the reason that it's working for us is we are breaking stories, we are telling stories, that you can't find elsewhere.