If you have been a frequent user of the media within the last decade you may have come across the name Jeff Bezos for at least once, as it is a very popular name that is being thrown around here and there, all over the media space. Jeff Bezos is the name of the world-known entrepreneur and multi-billionaire founder and CEO of Amazon. As you read on, you shall discover Jeff Bezos net worth, businesses, accomplishments, personal life, and everything else about the “richest man in modern history” according to Forbes wealth index in July 2018.
Jeff Bezos Biography
Jeff Bezos (Jeffrey Preston Bezos) was born in Albuquerque, New Mexico, United States on January 12, 1964, to Ted Jorgensen his biological father, and Jacklyn Gise Jorgensen a teenager. His parents were married less than a year and when he was 4 years old, his mother after leaving his biological father remarried a Cuban immigrant named Mike Bezos.
Jeff had an early love for technology and studied electrical engineering and computer science at Princeton University. Upon completion of his studies, he worked on Wall Street, and afterwards in 1990 he became the youngest topmost vice president at the investment company D.E. Shaw. He quit his lucrative job four years later to open Amazon.com, an online bookstore. His books store later became one of the biggest success stories of the Internet. In the year 2013, he bought The Washington Post, and four years later, Amazon acquired Whole Foods.
Jeff Bezos graduated in 1986 from Prínceton University wìth a degree in electrícal engineering and computer scíence. He exhibited an early interest in how things work, changing the garage of his parents into a laboratory and also rigging electrical contraptions around the house as a child. As an aspiring teenager, he moved to Miami with his family where he developed the love for computers and technology and graduated valedictorian of his high school. Jeff started his first business during high school named the Dream Institute, which was an educational summer camp for fourth, fifth and sixth graders.
Jeff Bezos Career
When Jeff Bezos Graduated from Princeton University, he worked at several firms on Wall Street, some of which include Bankers Trust, Fitel, and the D.E. Shaw investment firm. In 1990, he became the youngest vice president of the investment firm D.E. Shaw. His chosen career in finance was very lucrative, but he wasn’t satisfied. He chose to make a highly risky switch into the e-commerce world.
Four years after working with D.E.Shaw investment firm, Jeff quit his job and moved to Seattle to target the untouched potential of the Internet market. He opened Amazon, an online bookstore.
Amazon and Success
Jeff Bezos net worth is mainly from his stake in Amazon. He opened Amazon.com in 1995. He culled the title of his website from the name of the meandering South American river of the same name. In the months before the launch of his website, some employees started to build software with Jeff in his garage, and eventually expanded their operations into a two-bedroom house fitted with three Sun Micro-stations.
The initial success of his company was meteoric. Having no press promotion, the company sold books across America and in over 40 foreign countries in the first 30 days. In the first two months, sales reached $20,000 per week, growing faster than Jeff and his startup team had imagined.
Although it was launched in 1995, Amazon.com went public in 1997, and in less than two years, the company outpaced competitors, becoming a worldwide e-commerce leader.
Jeff Bezos continually diversified Amazon’s offerings with the sale of videos and CDs in 1998, and later electronics, toys, clothes and more through major retail partnerships.
Amazon continued to flourished with annual sales that jumped from $510,000 in 1995 to over $17 billion in 2011.
By September 2018, Amazon was valued above $1 trillion, the second company to hit that record in just a few weeks after Apple.
Jeff Bezos who had been targeting the food delivery market laid hands on the Whole Foods grocery chain in 2017 and bought the company for $13.7 billion. The company offers in-store deals to customers of Amazon Prime and also timely grocery delivery in less than two hours, depending on the market. This prompted competitors such as Walmart and Krogers to start offering meal delivery to its customers.
The Washington Post
The Washington Post is a major publications company in American. On August 5, 2013, Jeff Bezos purchased it from its owners for the sum of $250 million.
Jeff Bezos and Blue Origin
Jeff Bezos founded another company, Blue Origin, in 2000. It is an aerospace company which develops technologies to minimize the cost of space travel in order to make it accessible to customers.
Jeff Bezos Personal Life, Marriage, Children
Jeff Bezos was formerly married to MacKenzie Tuttle. They met in 1992 while working for the investment firm l D.E. Shaw in 1992, and in 1993 they got married. After being married for 25 years, the couple took to twitter to announce their divorce in 2019.
Although his wife could be settled with much more according to the common law on divorce in Washington state, without a prenuptial agreement, MacKenzie Tuttle agreed to take just 4% in Amazon stock (worth $35.6 billion) and left the remaining 12% to Jeff Bezos.
Jeff Bezos and his ex-wife MacKenzie Tuttle have four children together. A daughter that was adopted from China, and three biological sons.
Jeff Bezos Net Worth
Jeff Bezos net worth as an internet and aerospace entrepreneur, investor and media proprietor is a whooping $115.4 billion.
He is the first centi-billionaire on the wealth index of Forbes. He was tagged the “richest man in modern history” in 2018 after his net worth rose to $150 billion in July 2018. Two months afterwards he added $1.8 billion to his net worth when his company, Amazon, became the second company in world’s history to reach a market cap of $1 trillion.
Jeff Bezos net worth in recent years
- September 2014: $30.5 billion
- March 2015: $34.8 billion
- September 2015: $47 billion
- March 2016: $45.2 billion
- October 2016: $67 billion
- March 2017: $72.8 billion
- October 2017: $81.5 billion
- March 2018: $112 billion
- October 2018: $160 billion
- March 2019: $131 billion
How Jeff Bezos spends his Cash
Mr. Jeff Bezos is a lover of luxury, and expensive automobiles. He has been noted with a series of expensive rides which he uses in moving around. He owns a $65 million private jet, as well as some high-end luxury vehicles. Here’s a list of cars (and the value for each) Jeff Bezos has owned:
- Ferrari Pininfarina Sergio ($3 million)
- Bugatti Veyron Mansory ($3.4 million)
- W Motors Lykan Hyper Sport ($3.4 million)
- Koenigsegg CCXR Trevita ($4.8 million)
- Lamborghini Veneno ($4.5 million)
Asides acquiring expensive and luxurious cars, Jeff Bezos spends his money as a philanthropist funding charity organizations and donating to assist the less privileged. As at the time of this writing, Jeff Bezos tops the list of the biggest donors in the world.