Brazilian Governor Asks Jeff Bezos To Pay Royalties For Using 'Amazon' Name

Wilson Lima, the governor of Amazonas state in Brazil, is asking Jeff Bezos to pay royalties for his company’s use of the ‘Amazon’ name.

As per a Business Insider report, Lima told Brazilian media outlet O Globo that Amazon.com Inc. (NASDAQ:AMZN) uses the names ‘Amazonas’ and ‘Amazonia’, and seeks to know how much they get for this usage.

Lima plans to raise this matter at the upcoming COP28 climate summit taking place in Dubai. He also took to Instagram to share a video addressing Bezos, pointing out the significant role the Amazon rainforest plays in cleaning the planet’s air and housing its largest biodiversity and rainforest.

The Amazon rainforest, referred to as the Earth’s “lungs”, absorbs substantial amounts of carbon dioxide, making it a crucial player in mitigating global warming. With its extensive biome that covers about 2.5 million square miles, it houses 10% of the world’s known animal species.

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However, deforestation has led to the loss of nearly 20% of the rainforest over the past 50 years, as reported by the World Wildlife Fund.

Bezos’s net worth escalates to $171 billion, making him the world’s second-wealthiest person. His company, Amazon.com Inc., valued at $1.5 trillion, was named after the Amazon River. In response to the climate crisis, Bezos has made significant contributions through his Bezos Earth Fund, which he established with $10 billion in 2020.

On Saturday, the Brazilian government unveiled a new fund worth $205 million to preserve the Amazon rainforest at the COP28 summit.

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