Amazon founder Jeff Bezos, 61, and Lauren Sanchez, 55, a former broadcast journalist, held a lavish wedding in Venice, Italy, which has been evaluated to have a significant economic impact of about 1.5 trillion won, despite extensive luxury controversy.
According to U.S. Newsweek and Reuters, among other foreign media, the Bezos couple held their wedding in Venice over three days starting from the 26th, with estimated expenses of about 700 million won for the event alone.
This is about 0.02% of Bezos's total assets of $244 billion (about 329 trillion won), and analysis suggests this level of expenditure is equivalent to "two cups of Starbucks coffee" or "two cheeseburgers" for the average asset holder in the U.S.
The wedding saw a large attendance of global celebrities, including Microsoft founder Bill Gates, media personality Oprah Winfrey, actor Leonardo DiCaprio, and influencer Kim Kardashian, significantly impacting local accommodation, tourism, and service industries.
On the 27th, the Italian Ministry of Tourism stated that "this wedding brought about an economic ripple effect of approximately 957 million euros (about 1.5 trillion won)," noting that this corresponds to 68% of the annual tourism revenue of the tourist attraction Venice. Luca Zaia, the governor of the Veneto region where Venice is located, estimated that at least 40 million euros (about 640 million won) were invested in this wedding alone.
Italian Minister of Tourism Daniela Santanchè said, "We should put aside the controversy and focus on the opportunity," adding that "this will not just be a private event but a substantial driving force for the entire industry," and it will help enhance Italy's brand value, create jobs, and attract new tourists.
However, some critics argued that Venice, a UNESCO World Heritage site, was used for a billionaire's private event. Some civic groups protested by hanging banners reading, "There is no space for Bezos."
Bezos has been in a public relationship with Sanchez since his divorce from his ex-wife MacKenzie Bezos in 2019.