While housing costs continue to be a burden on American households, a calculation reveals the extent of wealth inequality in the United States.

Jeff Bezos, Amazon founder and one of the richest people in the world, could theoretically cover the monthly housing costs of every American renter and would still be wealthier than legendary investor Warren Buffett.

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According to the National Multifamily Housing Council and PolicyAdvice, approximately 44.1 million Americans rely on rental housing. Combined with average monthly rents, the total cost of rent in the country is approximately $40.41 billion per month.

Bezos, whose net worth is $186.9 billion according to Forbes, could raise all of that money and still have $146.49 billion left. That would still put him $10.19 billion ahead of Buffett, whose net worth is $136.3 billion.

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While the calculation is hypothetical, it underscores the magnitude of the housing crisis facing many Americans. A 2024 Harvard study found that 22.4 million U.S. households spend more than 30% of their income on rent, and 12.1 million spend more than 50%.

The contrast is even greater when you consider that the average rent in the U.S. is 29.1% of the average American household income, according to Zillow. Meanwhile, Bezos has recently made headlines with his stock sales, dumping $8.5 billion worth of Amazon shares in February alone.

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

Buffett’s Berkshire Hathaway has also taken action, selling large portions of its Apple and Bank of America holdings. Buffett has indicated that he would prefer to build cash reserves in the current economic climate and sees government bonds as an attractive option given market volatility.

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While the super-rich make their financial maneuvers, the rental market continues to evolve. USA Today reports that by 2024, monthly rental costs in all 50 largest metropolitan statistical areas will be 37% lower than buying a typical home. This 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 country’s housing crisis, the contrast between their wealth and the financial problems facing many Americans underscores the growing debate about economic inequality and affordable housing policies.

With the 2024 election looming, candidates may face increased pressure to address the symptoms of the housing crisis and the underlying wealth inequalities that exacerbate it.

Meanwhile, millions of Americans will continue to spend large portions of their income on home purchases, while the wealth of the super-rich fluctuates by billions in a single trading day.

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