AARON PATRICK: Wedding of Amazon billionaire Jeff Bezos and Lauren Sanchez was not as expensive as it looked

Jeff Bezos and Lauren Sanchez’s lavish and celebrity-filled wedding in Venice on the weekend not only represented the apex of popular culture, it became a symbol of global economic inequality.

Chanting “if you can rent Venice for your wedding then you can pay more tax,” anti-capitalist and climate-change protestors threatened to blockade the wedding party. They claimed credit for forcing the couple to relocate the final party of the three-day celebration further away from the city’s centre.

One young economist, Diana Mousina, argued this week that the event, at an estimated cost of $75 million, was cheap compared to what most Australian couples spend on their weddings relative to how rich they are.

“It was only 0.2 per cent of Bezos’ wealth!” AMP’s deputy chief economist told The Nightly.

Wedding arms race

In the age of social media, weddings have become increasingly competitive.

The average Australian couple spent 5 per cent of their wealth getting married, including elaborate dresses for the bride and bridesmaids, expensive food and alcohol and exotic honeymoons, according to 2020 figures cited by Ms Mousina.

“The whole industry has massively ballooned in recent years,” she said.

A different way at looking at the data suggests the trend is even more extreme. The Australian Bridal Industry Academy, which runs a large wedding-supplier database, estimated the average wedding budget in 2024 was $34,160. With overruns, it cost $41,400. One in 20 cost more than $100,000.

The same year, the average worker earned $78,624, according to the statistics bureau. Which means that Australian weddings typically cost around half a year’s salary.

“Modern weddings are increasingly about storytelling, atmosphere and shared moments,” said ABIA general manager Josh Grice.

Mr Bezos’s $370 billion wealth comes from his 9 per cent Amazon shareholding. The online retailer doesn’t pay dividends, and he no longer works at the company, which means it is impossible to calculate his annual income.

No gifts

His wedding to Ms Sanchez, a helicopter pilot and television host, was his second and her third. Their invitation said: “We have only one request: please, no gifts.”

Some protestors waved “No Space for Bezos” banners and chanted “no grandi matrimoni” or no big weddings. They complained the wedding would make the city of 250,000 even more crowded.

But the guest list, estimated between 200 and 250, wasn’t particularly long. The average Australian wedding is attended by 90 people, according to the ABIA.

What was unusual, of course, was the global attention. As the couple were carried in a motorboat up the Grand Canal, they were followed by paparrazi and camera crews. CNN televised the trip live from another boat.

While conducting an extremely public wedding, the couple managed to preserve their privacy. No unsanctioned photos have emerged from the ceremony and parties, even though they were attended by some of Instagram’s biggest celebrities, including Kim Kardashian and Kylie Jenner.

Still, the decision to bring many of the the world’s most famous people to one of the most touristed cities generated criticism from around the world.

American television commentator Megyn Kelly described it as a display of “fake celebrity, fake humility, fake pajamas, fake friendships”.

The bride and groom’s clothes were not spared. Comedian Paul Rudnick said Ms Sanchez’s dress looked like it was made from a valance and duvet cover. Mr Bezos’s waistcoat did not match his dinner suit, Canadian-American fashion commentator Derek Guy complained.

Amid the nasty comments, the protests and the sense that the world would celebrate any mishaps, it was hard not to conclude the couple looked happy when the celebrations concluded on Saturday. Which might suggest the money was worth it.