Could Jeff Bezos be the first trillionaire?
|Net Worth:||$172 Billion|
|Country of Origin:||United States of America|
|Source of Wealth:||CEO of Amazon/ Entrepreneur/Investor|
Jeff Bezos’ Net Worth
As of July 2020, Jeff Bezos’ net worth is estimated to be roughly 172 billion dollars, according to Forbes.
Jeff Bezos is an American internet entrepreneur, media proprietor, industrialist, and investor.
Jeff Bezos’ Overviews
Jeffrey Preston Bezos was born Jeffrey Preston Jorgensen in Albuquerque, New Mexico, to Jacklyn (née Gise) and Ted Jorgensen. After his parents divorced, his mother married Miguel “Mike” Bezos, who adopted him when he was 4-years old and changed his Surname to Bezos.
Jeff Bezos is the founder, CEO, and chairman of the eCommerce company “Amazon.” He is currently the wealthiest person alive and the first person in modern history to accumulate a fortune of over $100 billion.
Jeff Bezos is a graduate of Princeton University. He has an electrical engineering and computer science degree. Between 1986 and early months of 1994, he worked on Wall Street. In the late months of 1994, he founded Amazon in his garage and wrote out the business plan on a cross-country road trip from New York City to Seattle.
Jeff Bezos’s parents contributed a sum of $300,000 to the startup of Amazon.
Amazon started as an online bookstore. In the early months of 1998, he added sales of music and video online. By the end of 1998, he had expanded the company’s products to include a variety of other consumer goods.
Jeff Bezos also used the $54 million raised by the company in 1997 to finance the aggressive acquisition of smaller competitors. In the year 2000, he borrowed $2 billion from banks. In 2002, he launched Amazon Web Services. By the end of that year, Amazon was in serious financial struggles so much that it nearly went bankrupt. He had to closed distribution centers and laid off 14% of the Amazon workforce.
In 2003, things picked up again for Amazon, and it made a profit of $400 million. By 2017, he hired 130,000 new employees for the company distribution centers. In the early months of 2018, Amazon was reported to have made its highest ever profit, with quarterly earnings of $2 billion.
Currently, Amazon is the world’s largest online sales company, the largest Internet company by revenue, and the world’s largest virtual assistant provider.
As an entrepreneur, Amazon is not his only venture:
- In 1998, Jeff Bezos invested $250,000 in Google, making him one of Google’s first shareholders. That $250,000 investment resulted in over 3.3 million shares of Google stock, worth approximately $3.1 billion in 2017.
- In the year 2000, Jeff Bezos founded “Blue Origin,”; an aerospace manufacturer and sub-orbital spaceflight services company. In 2015, Blue Origin test flight was able to reach space successfully for the first time. In July of 2018, he announced that he had set the price of commercial spaceflight tickets from $200,000 to $300,000 per person.
- In 2013, Jeff Bezos purchased the American newspaper “The Washington Post” for $250 million in cash. He established a limited liability holding company called “Nash Holdings” that legally owns the paper.
- Jeff Bezos has also invested in Healthcare companies such as Unity Biotechnology and Haven.
Haven is a not-for-profit, healthcare-focused entity created by Amazon, Berkshire Hathaway, and JPMorgan Chase. The company aims to improve healthcare services and lower Healthcare costs for their U.S. employees, their families, and, potentially, all Americans.”
As of 2020, Jeff Bezos’ net worth is roughly 172 billion dollars.