The Second Richest Person On The Planet Jeff Bezos
Jeffrey Preston Bezos, commonly known as Jeff Bezos is an American entrepreneur, industrialist, investor, and a media proprietor.
He was best-known for creating Amazon.com. Jeff Bezos is the founder, chief executive officer, president and chairman of the board of Amazon.com. He first surpassed Bill Gates in terms of wealth in July 2017. He was the richest person in the world without interruption between October 2017 and January 2021.
According to the company’s most recent SEC filing, Jeff owns 55 million shares of Amazon, roughly 12% of the total shares outstanding. At his peak he owned 80 million shares of Amazon. As part of his April 2019 divorce settlement with MacKenzie Bezos, Jeff transferred 19.7 million shares to his ex-wife. The value of the shares at the time of the transfer was $36 billion.
The settlement temporarily reduced Jeff’s net worth from $150 billion to $114 billion. Jeff was also an early pre-IPO investor in Google.com and owns at least $1 billion shares in what is now known as Alphabet Inc.
Early Life Story/History
Jeffrey Preston Bezos was born on January 12, 1964, in Albuquerque, New Mexico, in the United States to parents Jacklyn and Ted Jorgensen.Jeff’s parents divorced in 1969, with Jacklyn remarrying to Miguel “Mike” Bezos. Jeff decided to take his step dad’s name instead of his real father’s name, and the rest is history.
Jeff Bezos is an Electrical Engineer and also holds a degree in Computer Science. Bezos after his graduation worked at several firms on Wall Street. Jeff first worked at Fitel, a tele-communication start-up.
However He later moved to banking industry where he became the how product manager at Bankers Trust. He then joined D.E.Shaw & Co.a hedge fund with a strong emphasis on mathematical modeling. In 1994, he left his job and targeted the internet market by opening an online bookstore.
Bezos initially named his company Cadabra but later changed to Amazon. He is the founder and CEO of the multi-national technology company ‘Amazon’, owner of The Washington Post and Founder of space Exploration company Blue Origin.
He opened Amazon.com, which is named after the South American River. The company ‘Amazon’ initially began as an online bookstore and lately expanded to a variety of the e-commerce products and services which also includes artificial intelligence, cloud computing.
Amazon.com went public in 1997 and within two years became an E-commerce leader. The company provides its services through its Amazon Web Services.
Amazon.com opens 24 hours and is an user friendly site. In 1998 he diversified into online sale of music and further added videos. It was the success of Amazon that encouraged other retailers and book chains to establish online store.
As competition grew, Bezos felt the need to expand and offered vast range of products, including apparel, electronics and hardware. Presently Amazon is the world’s largest online sales company.Bezos net worth decreased to $ 6.1 billion after a year.
His wealth further dropped in the coming years. From 2005 to 2007, his net worth increased to $ 8.7billion.In the year 2010 his net worth was $ 12.6 billion. Further in the year 2014, his net worth rose to $30.5 billion.
He became the 5th richest person in the world. net worth rose to $45.2 billion in March 2016 and within few months he gained $16.2 bilion, which led to a total worth of $66.5 billion in October 2016. In July 2017 due to rise in Amazon share price, he backed off Microsoft founder Bill Gates.
How He Became Successful
Jeff Bezos is the founder of Amazon, the world’s largest and most successful online marketplace. He started the company in 1994 after quitting his job with an investment bank and moved to Seattle, Washington, where he founded Amazon as a virtual bookstore.
25 years later, and he’s one of the richest men in the world thanks to his holding of Amazon stock.While Amazon launched as a bookstore, it quickly diversified into other categories. The company charges fees and commissions to sellers to market products on its website, which is its primary source of revenue.
Amazon Web Services a lucrative cloud computing platform that powers much of the web contributes a growing share of the company’s profits.The coronavirus pandemic years were incredibly profitable for Amazon and Bezos: the billionaire saw his personal fortune rise by approximately $20 billion in the 24 months between 2020 and 2021.
Jeff Bezos Net Worth
In the 20 years since Amazon went public, Bezos has sold at least $70 billion worth of his shares. He sells roughly $1 billion worth of shares every year as part of a planned stock sale arrangement.
|Net Worth:||$188 Billion|
|Monthly Income:||$7000 +|
|Date of Birth:||January 12, 1964|
|Height:||1.7 M (5′ 8′)|
•Bezos received his first major award in 1999 when Time named him as Person of the Year.
•He was awarded an Innovation Award for the Amazon Kindle in the year 2011.
•In March 2018,at the Explorers Club he was awarded with Buzz Aldrin Space Exploration Award in recognition of his work with Blue Origin.