$193,000,000,000
Jeff Bezos
Net Worth
Born in (City)
Albuquerque, New Mexico
Born in (Country)
United States
Date of Birth
12th December, 1964
Date of Death
-
Mother
Jacklyn Bezos
Father
Miguel Bezos
Children
- Preston Bezos
- Three other children whose names are not available
About
Jeffrey Preston Bezos (January 12, 1964) is an American web business person, industrialist, media owner, and financial specialist. He is most popular as the organizer, CEO, and leader of the global innovation organisation Amazon. The first centi-tycoon on the Forbes riches record, Bezos has been the world\’s most extravagant individual since 2017 and was named the "most extravagant man in present-day history" after his total assets expanded to $150 billion in July 2018. In September 2018, Forbes portrayed him as "far more extravagant than any other individual on the planet" as he added $1.8 billion to his total assets when Amazon turned into the second organization in history to arrive at a market top of $1 trillion.
Early Life
Bezos was conceived Jeffrey Preston Jorgensen in Albuquerque, New Mexico, on January 12, 1964, the child of Jacklyn (née Gise) and Ted Jorgensen. After his parents separated, his mom wedded Cuban settler Miguel "Mike" Bezos in April 1968. Not long after the wedding, Mike embraced four-year-old Jorgensen, whose family name was then changed to Bezos. The family moved to Houston, Texas, where Mike functioned as a designer for Exxon after he got a degree from the University of New Mexico. Bezos went to River Oaks Elementary School in Houston from fourth to 6th grade. Born in Albuquerque and brought up in Houston and later Miami, Bezos moved on from Princeton University in 1986 with a degree in electrical building and software engineering.
Road to Success
Bezos took a shot at Wall Street in an assortment of related fields from 1986 to mid-1994. He established Amazon in late 1994 on a cross-country excursion from New York City to Seattle. The organization started as an online book shop and has since extended to a wide assortment of other web-based business items and administrations, including video and sound gushing, distributed computing, and AI. In 1998, Bezos enhanced into the online offer of music and video, and before the year’s end he had extended the organization's items to incorporate an assortment of other shopper merchandise. Bezos utilized the $54 million raised during the organization’s 1997 value offering to fund forceful procurement of littler contenders.
In November 2007, Bezos propelled the Amazon Kindle. Bezos made sure about a $600 million agreement with the Central Intelligence Agency (CIA) for the benefit of Amazon Web Services. In October of that year, Amazon was perceived as the biggest internet shopping retailer on the planet. In May 2016, Bezos sold marginally more than one million portions of his possessions in the organization for $671 million, the biggest entirety he had ever raised from selling a portion of his Amazon stock. On August 4, 2016, Bezos sold another million of his offers for $756.7 million. After a year, Bezos took on 130,000 new workers when he increased employment at organization dispersion focuses. By January 19, 2018, his Amazon stock property had acknowledged to marginally over $109 billion. On February 1, 2018, Amazon revealed its most elevated ever benefit with a quarterly income of $2 billion. Because of the development of Alibaba in China, Bezos has regularly communicated enthusiasm for growing Amazon into India. On July 27, 2017, Bezos quickly turned into the world’s wealthiest individual over Microsoft's prime supporter Bill Gates when his evaluated total assets expanded to over $90 billion. His riches outperformed $100 billion on November 24, 2017, and he was officially assigned the wealthiest individual on the planet by Forbes on March 6, 2018, with total assets of $112 billion.
Amazon is presently the world’s biggest online deals organization, the biggest Internet organization by income, and the world’s biggest supplier of menial helpers and cloud foundation administrations through its Amazon Web Services branch.
Challenges
Towards the end of 2002, Amazon's speedy spending contributed to trouble waters financially and the organization was almost shut down. Bezos acted quickly and fired 14% of the workforce at Amazon. The company bounced back from financial unsteadiness and earned $400 million in revenue in 2003.
In recent years, there have been several challenges and controversies surrounding Bezos. Bezos heavily invested in the Indian market in 2004, around the amount of $2 billion, and went on to invest $3.5 billion into the Indian market. The company enjoyed widespread success in the country but however, six years down the road, Bezos and Amazon faced their own challenges caused by the Swadeshi resistance organized by the trade associations of India. The small retailers and distributors were against the new phenomenon of the e-commerce market in the country as it hurt their business. Despite this resistance, Amazon continues to make billions of dollars in India every year
Failures
In 1998, Bezos had the vision for Amazon as a "store for everything" and branched Amazon into the toys market. However, the company could not rope in major distributors and had to personally buy the toys and sold them out of the Amazon warehouse. This costed the company $120 million by the discretion of Bezos who went against the advice of other Amazon executives. Towards the end of Christmas, there was a $50 million toy inventory in stock with Amazon. They donated the toys to various children's organizations and charities and sold the rest to exporters for a small price. Bezos started Amazon auction in the same year as the toy failure model and wished for Amazon to overtake EBay. He acquired the company Accept.com to encourage dealings between buyers and sellers. However, eBay was very well-known in society at this point and this turned out to be a bigger failure than trying to branch into the toy market.
Achievements
By 2020, Jeff Bezos became the richest person on earth, with a net worth of $113 billion|Bezos is the founder of Amazon Inc., which is currently one of the most successful e-commerce companies in the world.|Bezos is one of the top US charity donors for 2020, with $10 billion donations for the Bezos Earth Fund and $100 million for Feeding America for food banks across the United States
Quotes
- If you double the number of experiments you do per year you’re going to double your inventiveness.
- Life’s too short to hang out with people who aren’t resourceful.
- One of the only ways to get out of a tight box is to invent your way out.
- I knew that if I failed, I would regret that, but I knew the one thing I might regret is not trying.