The Richest Man in the World

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Jeff Bezos turned his small store in his garage into a tech giant, becoming the richest man in the world.

The visionary Amazon creator always had the plan to be big. For this, it developed a corporate culture of ambition and high data analysis and interpretation.

Owner of the company responsible for more than 50% of online purchases in the United States, Amazon (AMZO34) was in the spotlight in the midst of the pandemic.

The e-commerce giant has hired more than 100,000 full-time and part-time employees to help meet growing consumer demand.

With this, Bezos further increased his fortune.

For the third consecutive year, Jeff Bezos leads the Forbes magazine ranking From greatest billionaires in the world with equity of about $ 200 billion.

Know the biography of owner of Amazon and aerospace company Blue Origin, the richest man on the planet: Jeff Bezos.

What You’ll See In This Article:

Who is Jeff Bezos?

Jeffrey Preston Bezos It’s founder, president and CEO of Amazon, American technology multinational.

Bezos founded e-commerce companies when he was 30, in the garage of the house where he lived in Seattle.

What started as an online bookstore, soon opened its portfolio to more products and other sellers.

Its surprising growth enabled the initial plan to be a technology giant.

Today, Amazon is behind more than 50% of online purchases in the U.S.

Bezos currently has a 11.1% stake in the company, in addition to owning the aerospace company Blue Origin.

Jeff Bezos was elected by Forbes magazine for third consecutive time the richest man in the world.

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Life and career

Jeff Bezos was born in Albuquerque, New Mexico, southwestern United States.

Her mother, Jacklyn Jorgensen, was just 18 years old and was still in high school when she gave birth to Jeff.

Her mother’s marriage to her father, Ted Jorgensen, lasted just over a year. Since then, he has had no further contact with his father.

When Jeff was four, his mother married Cuban immigrant Miguel Bezos.

Mike, as he is known, adopted Jeff, whose name was changed to Bezos in April 1968.

In Bezos’s childhood, his family moved to Houston and on vacation he went to his maternal grandparents’ country house in Cotulla, also in Texas.

As a teenager, he worked at McDonald’s and attended a science program at the University of Florida aimed at high school students.

Jeff showed interest in science and technology since he was a child.

In 1986, he graduated in electrical engineering and computer science by Princeton University.

His good grades opened doors at several companies for the newly graduated engineer, but Jeff decides to work at a telecommunications startup, Fitel.

He moves up the company until he becomes director of customer service.

Then he migrates to Wall Street where he remains from 1988 to 1990 as a product manager at Bankers Trust.

Subsequently, he worked at the DEShaw & Co hedge fund and reached the position of fourth senior vice president at age 30.

However, Jeff Bezos decided to leave everything behind and bet on his dream of having his own company.

In 1993, Jeff marries MacKenzie Bezos and moves to Seattle.

In 1994, after identifying the exorbitant increase in internet consumption, the idea of ​​founding Amazon arose.

The company started with the online book trade and soon expanded to a wide variety of products and services.

Currently, it is the largest online sales company in the world, as well as the world’s largest provider of cloud infrastructure services through Amazon Web Services.

A father of four, Bezos separated from his then wife in 2019.

The divorce became known as the most expensive in history. $ 36 billion in Amazon stock went to his ex-wife as part of the deal.

However, this did not shake Bezos’ fortune as much, since besides Amazon, he has a diverse source.

Full name: Jeffrey Preston Bezos

Date of birth: January 12, 1964

Nationality: North American

Estimated fortune: $ 197 billion

Occupations: Amazon CEO, entrepreneur and investor.

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The foundation of Amazon

Amazon’s story begins in 1994, when Jeff Bezos, then 30 years old, identifies on the internet an opportunity to undertake.

After conducting research for the hedge fund where he worked, he discovered that in the early 1990s the internet usage was increasing around 2,300% per year.

He then decides to quit his job as vice president of the Wall Street financial services firm to move the woman to Seattle and start his own business.

During the long drive between New York City and Seattle, Bezos writes the business plan and makes the first contacts to start Amazon’s dream.

The plan was always to be an online retail giant, but for that it was necessary to start small.

It was then that he chose to open a online store that sold only books.

This was the ideal product to start with, since they are easy to sell, have a low unit price and expensive storage.

Amazon couldn’t just be an online store. It had to be reliable, easy to use and more useful than a physical store.

His own garage served as the company’s first headquarters.

The choice of name was a separate chapter.

Bezos wanted a strong brand. After a few names, he came across the name “Amazon” in the dictionary.

The term is the English form of the Amazon River and referred to something “exotic and different”, exactly as he imagined the future company.

In July 1995, the world’s first virtual book store was launched.

The beginning of Amazon exceeded expectations. With aggressive discounts and convenient shopping, the store started to bother competitors.

Two months after launch, it had already shipped orders to all U.S. states and 45 more countries.

In three months it would reach the mark of 100 books sold in a single day. A year later, there were already 100 books an hour.

The impressive initial result opened the door to an IPO on May 15, 1997 to $ 18 per share.

At that time, the company had 1.5 million active customers, 600 employees and US $ 125 million in cash.

It did not draw much attention from investors, but Bezos predicted that that was just the beginning of the internet and Amazon.

Whoever invested US $ 1,000 in 1997 would have about $ 1.4 million in 2020.

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Amazon.com, Inc: a multinational technology company

In the year following the IPO, Bezos began his plan to expand the company’s portfolio beyond books.

In 1998, it started selling CDs and films and internacionaliza a Amazon after the acquisition of competitors in the United Kingdom and Germany.

It also starts its affiliate program which would become a success and, in 1999, started to accept almost any product.

However, Jeff Bezos has always seen the company much larger than an online retailer. For him, it should be a technology company.

In 2002, Bezos launched Amazon Web Services (AWS), a data and statistics service for websites.

Later, Amazon would revolutionize the literary industry again by launching the Kindle, a digital book reader, in 2007.

The device is a sales success and is in its 10th generation.

In the following years, Amazon launches its streaming service, Amazon Prime and virtual assistant, Alexa.

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How did Jeff Bezos get rich?

Most of Jeff Bezos’ heritage comes from Amazon successbut in addition to the tech giant, it also has a number of other business investments.

In 2013 he bought the newspaper “The Washington Post” for $ 250 million.

He also owns the aerospace company Blue Origin, in which he invests more than $ 1 billion a year to explore the universe.

The proposal is similar to that of its competitor SpaceX, by Elon Musk: to greatly reduce the cost of launch and help “people to enter the space”.

His ventures, especially Amazon, are paying off.

In February of this year, Amazon (AMZO34) was worth more than US $ 1 trillion.

Between March and April, in the midst of the pandemic, the company hired 175,000 additional workers.

With that, the richest man in the world managed to increase his fortune in $ 13 billion in a single day.

He was also the first person to hit the record $ 200 billion in equity since Forbes magazine started tracking billionaires in 1982.

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Where Jeff Bezos invests

In addition to being an entrepreneur, Jeff Bezos is also an investor.

Through Bezos Expeditions, a venture capital used to make personal investments, he was one of the first shareholders of Google (GOGL34), acquiring 3.3 million shares for US $ 250 thousand in 1998.

Bezos also has stakes in Unity Biotechnology (UBX), a life extension research company that hopes to slow the aging process.

Some of the companies that Jeff Bezos invests include:

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Jeff Bezos books

Books have always been part of Bezos’ trajectory, either when starting online product sales or shaping the entrepreneur’s mind.

Other books are inspired by the visionary story of Jeff Bezos when starting Amazon and revolutionizing online retail.

The Everything Store. Jeff Bezos and the Amazon Age

The book written by Brad Stone “The store of everything” shows in detail what life is like in the online commerce giant.

This is a biography of the startup that forever changed the way we read and buy.

The work gathers testimonials from friends, family, collaborators and former Amazon employees and reveals important steps taken by Jeff Bezos to make the company one of the most powerful today.

Bezos’ letters – 14 principles for growing like Amazon

Steve Anderson’s book brings together lessons from the letters Jeff Bezos wrote to Amazon shareholders for more than 20 years.

This makes it easier to understand Bezos’ mentality and the principles he applied to build his company.

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Conclusion

Jeff Bezos became the richest man in the world by turning Amazon into one of the tech giants, along with Google, Apple, Microsoft and Facebook.

When he identified an opportunity in the new internet scenario, he grew and diversified the services offered.

After revolutionizing online commerce, it launched data storage, streaming, e-book services, among others.

In addition to offering more products on Amazon, Jeff Bezos also diversified its personal portfolio by investing in several companies and even in space.

For the third consecutive year, he is the richest man in the world, with an estimated net worth of nearly $ 200 billion.

Certainly, achieving financial freedom is no longer a problem for him.

You can also reach yours!

Starting to invest in stocks is the best way to do that.



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