Jeff Bezos, How became 2nd World’s Richest Men?

Jeff Bezos 2nd World’s Richest Men

Education and Early life

Jeff Bezos, whose real name was Jeffrey Preston Bezos, was born in Albuquerque on January 12, 1964, New Mexico. He was born to a teenage mother, Jacklyn Gisa Jorgensen, and his father, Ted Jorgensen. They were married for a short period of time.

 

When Bezos was 4 years old, his parents were divorced and his mother married Mike Bezos. Bezos graduated in 1986 with a degree in computer science and electrical engineering from Princeton university.

Early Life

Bezos had an early interest in how things work. He is turning his parents garage into a laboratory. He rigged electrical contraptions around his house as a child.

 As a teenager he, with his family, moved to Miami . There, he developed a love for computers. He graduated valedictorian of his high school. During his high school, he started his first business. The Dream Institute, an educational summer camp for students that promote creative thinking.

Jeff Bezos Career

When he was graduating from Princeton university, he undertook a job in wall street from 1990 to  1986. In 1990, he became the youngest vice president of D.E Shaw.

Career in finance

His career in finance was very lucrative. He chose a risk in the world of ecommerce. In 1994, He moved to Seattle, quit his job and opened an online books selling store.

Founder of Amazon.com

On July 16, 1995, he launched Amazon.com, after asking 300 friends to beta test it, he named it after the meandering South American river. Bezos developed software in his garage with a few employees. Eventually, they moved into a house equipped with three Sun MicroStation’s.

Amazon .com sells books across the U.S and in 45 countries in the first 30 days. In the first days amazon offers discounts, searches for print out books and reviews on it. In a week it sales become $20,000. It is growing faster. In 1997 amazon went public and in 1998, it began selling CDs, after one year, videos were added.

C.E.O of Amazon

In the early ’90s, many dotcoms failed, but Amazon thrived, growing from $510,000 in 1995 to over $17 billion in 2011. In 1999, Bezos added many more things to this site and invested in other online virtual stores. It encouraged other retailers to make online stores.

Achieving more than Expected

Bezos became an early investor in Google, in 1998. He has not disclosed how much stock he owns after its IPO in 2004, but a $250,000 investment would be worth billions today.

The media tycoon said the company had surpassed 100 million paid subscribers for Amazon Prime as part of Bezos’ 2018 annual shareholder

letter. Amazon was valued at more than $1 trillion, by September 2018. It is the second company to ever hit that record just a few weeks after Apple. 

In 2005, Amazon offered a vast ocean of products including Consumer electronics, hardware and apparels.

Amazon instant videos

Amazon.com launched its video services in 2006. Initially it is known as amazon unbox, after this it is known as amazon instant video. In 2013 , Bezos premiered several programs with amazon studios. In 2014, the company won critical acclaim for Transparent and Mozart in the Jungle.

In 2015,Company released its first original film  Spike Lee, chi-raq.

In 2016, Bezos made a cameo appearance in Star Trek Beyond as an alien.

The Seattle Times reported in 2018 that Amazon had merged its consumer retail operations in order to focus on growing areas like digital entertainment and Alexa, the company’s virtual assistant.

Kindle Reader

In 2007, Amazon released Kindle, a digital book reader, a wireless internet connectivity that allows a user to read it, buy it, download it and store it in their book selections.

Amazon Drones

In December 2013, Bezos revealed a new, experimental initiative by Amazon, called “Amazon Prime Air,” he made headlines. It is using drones for delivery services to the customer. Bezos said that these drones would be able to carry items that have 5 pound weight. These are also capable of traveling 10 miles distance from the company distribution center.

On 7 December 2016, first delivery took place in Cambridge, England.

Fire Phone

When Amazon launched the Fire Phone in 2014, one of its few major missteps was overseen by Bezos. It was discontinued the following year due to criticism.

Whole Foods

In 2017, Amazon announced that  it had acquired Whole Foods for $13.7 billion in cash. At the time, Bezos was interested in the food delivery market. Amazon Prime customers can now get in-store offers and grocery delivery in as little as two hours, depending on the market.

Bezos announced that he would be stepping down as CEO later that year in February 2021. Although he would step down as CEO, he would stay on as executive chairman.

Other Activities

 Apart from Amazon, Bezos established a spaceflight company, Blue Origin, in 2000. Amazon’s headquarters in Kent, Washington, was visited by reporters in 2016. Humans would not only visit space, but eventually colonize it. Bezos promised to fund Blue Origin to sell $1 billion in Amazon stock, in 2017.

Blue Origin

Blue Origin bought a launch place in Texas soon afterward and planned to introduce a crewed suborbital spacecraft, New Shepard, in 2018 and an orbital launch vehicle, New Glenn, in 2020. Bezos bought The Washington Post and associated publications for$ 250 million in 2013.

Road to Space

After two years, Bezos said “We are going to build a road to space. And then amazing things will happen.” In 2019, Blue Origin was selected to collaborate with 19 technology projects to reach the moon and Mars by NASA.  As well as nozzles for rockets using liquid propellant, Blue Origin is developing a safe and precise landing system for the moon. The company is working with NASA to launch reusable rockets from a refurbished complex.

Charitable Donations

Bezos launched in 2018 a donation that he called Bezos Day One Fund. The software aims at “investment in homeless families, in addition to developing a community of tier-one preschools in low-profits communities.”

Bezos and Mackenzie

Bezos and his ex wife donate $33 million to TheDream.US.  It is basically an organization that works with undocumented youths who were brought to the United States as children.

Earth Fund

Bezos introduced on February 17, 2020, that he changed into launching the Bezos Earth Fund to fight the devastating consequences of weather change. Bezos stated he could start issuing presents and fund “scientists, activists, NGOs  Along with $10 billion to the initiative. Any attempt that gives an actual opportunity to assist, maintain and defend the herbal world.”

MEDIA

Bezos is drawn to the technology sector, including media and communication services that facilitate connecting people. Just for simply what he considers to be probably profitable investments.

 Communication

Within the communications sector, Bezos has invested in Twitter Inc and  Business Insider style news websites. Zocdoc Inc. and Next-door are each platforms for connecting people.

Transportation

Bezos has invested in traveling company Uber more than $30 million. One of his major investment successes is workday Inc. It is a company that provides human resource services in the cloud.

Bezos Family

Bezos met Mackenzie Tuttle in D.E. Shaw. He is a vice president of the company and she is an administrative assistant. They dated each other for three months and in 1993 they finally married.

Mackenzie Tuttle

She is an integral part of success in amazon. She is helping to create amazon’s first business plan and working as an assistant.  She is a novelist. Her first novel was The Testing of Luther Albright and second was Traps which were published in 2005 and 2013 respectively.

They have four children, three sons and an adopted girl. They divorced after 25 years of marriage. After divorce Mackenzie became the richest woman and had more than $37 billion.

Jeff Bezos Money

As of Dec. 23, 2021, Jeff Bezos had a net worth of $197 billion, according to the Bloomberg Billionaires Index. Because his 11% stake in Amazon accounts for the majority of his wealth, his net worth fluctuates considerably depending on the value of the company.

Per day Money

Vizaca calculated that Bezos earned approximately $8.99 billion per month, or $2.25 billion per week, or $321 million per day, as of July 2021. In 2018, Bezos had a net worth of $112 billion, making him the world’s richest person.

Jeff Own Companies

As founder of amazon, Bezos also owns The Washington Post and Blue Origin.

Bezos Stock Portfolio

Apart from Amazon, Bezos invested in numerous smaller companies Twitter, Uber, Airbnb, and Business Insider.

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