Amazon Founder Jeff Bezos the World’s Richest Person, through his fortune eclipsing the wealth of Microsoft Corp. co-founder Bill Gates and legendary investor Warren Buffett. As of May 2023, the Bloomberg Billionaires Index lists his net worth as $139 billion.
Bezos, the founder and former chief executive officer (CEO), is now executive chair of the global e-commerce company Amazon. The company accounted for 6.5% of all U.S. retail sales and 44.9% of digital retail spending in 2022. Amazon Web Services (AWS) is estimated to propel higher as the digital and cloud computing revolution reshapes human behavior.
In May 2023, Bezos got engaged to Emmy-winning journalist Lauren Sanchez, giving to People. The couple made their relationship public in 2019 after Bezos trooped for divorce from his wife of 25 years, Mackenzie Scott.
Scott, who helped Bezos found Amazon, conventional a 4% stake in the company, worth $36 billion at the time of their divorce. Bezos and his ex-wife supposedly did not have a prenuptial agreement, giving to People. However, there are reports that Bezos will possibly have a prenup with Lauren Sanchez, according to SheKnows.
Raised by a teen mom and Cuban émigré stepfather, Bezos once told his schoolteachers, “The future of mankind is not on this planet.” Jeff Bezos’ boss was disheartened by resigning from his stable hedge fund executive position with D. E. Shaw & Co. to start Amazon in 1994.
Amazon: Beyond Books
Jeff Bezos advanced from Princeton University with computer science and electrical engineering degrees. Upon graduating, he turned down bids from Intel and Bell Labs to join a startup called Fitel.
He helped launch a news-by-fax service company through Halsey Minor, the founder of CNET, which failed and led Bezos to become the youngest senior vice president at a hedge fund called D. E. Shaw.
Bezos was enthralled that the Internet was rising at 2,300% annually in 1994, and his idea for Amazon was born.
Amazon.com, a stage for selling books, grew out of a garage with his $10,000 investment. Bezos, his wife, and two programmers conducted most assemblies at the neighborhood Barnes & Noble. After launching in July 1995, Amazon sold books in every U.S. state and 45 countries.
Beating Expectations of Amazon Founder Jeff Bezos World Richest Person
Bezos tried to raise capital by estimating $74 million in sales by 2000, far beneath the reality: $1.64 billion in sales in 1999 alone. He gathered $1 million in seed subsidy from angel investors after investments from his family.
The first approximately 20 depositors in Amazon with a $50,000 stake rounded. So that 1% would grow to be worth $3.5 billion, in place of a 70-times return in about 20 years. In June 1996, Amazon raised an extra $8 million in Series A from venture capital firm Kleiner Perkins.
Amazon went public in May 1997 and was one of the insufficient startups that survived the dot-com bust.
Annual sales rose from $511,000 in 1995 to over $3 billion in 2001. Amazon’s share price imitates its phenomenal growth. The stock increased about 450% from January 2016 to January 2021. those 60% from, January 2020 to January 2021 alone.
Bezos owns 12.7% of Amazon employing 2022, making it a source of his wealth. The company’s 2022 annual meeting declaration showed Bezos owning more than 64.5 million shares.
Real Estate of Amazon Founder Jeff Bezos World Richest Person
Jeff Bezos has holdings in outdated investments, such as real estate. His 165,000-acre Corn Ranch in Texas was acquired as the base of actions for his aerospace company, Blue Origin, and serves as the test site for the vertical-landing, manned, subocular New Shepard rocket.
Besides Manhattan, his homes embrace multimillion-dollar holdings on the East and West Coasts in Beverly Hills. Bezos’ New York presence is described to have boosted Century Tower property values, with space trade for $2,000 to $3,000 per square foot. He also has a lakeside property in Washington state, on which he spent $28 million to increase the living planetary to almost 30,000 square feet.
In 2012, Amazon believed its own South Lake Union headquarters building in Seattle for $1.5 billion, making it one of the largest commercial possessions owners. Amazon took possession of nearly a dozen buildings, almost 2 million square feet of office space, and around 100,000 square feet of retail space.
In August 2017, The Seattle Times described Amazon as having as much office space as the region’s 40 largest employers mutual, at 8.1 million square feet.
Jeff Bezos has invested sizable arithmetic in charitable donations. In addition to the Bezos Family Foundation funding several education projects, Bezos has completed multimillion-dollar charitable contributions to Seattle’s Museum of History & Industry besides his alma mater, Princeton University.
In January 2018, Bezos, besides his now ex-wife, MacKenzie, pledged $33 million to TheDream.US, an organization working to improve college admittance for undocumented immigrant youth brought to the United States as young children. The funding provides college scholarships to 1,000 U.S. high school graduates with Deferred Action for Childhood Arrivals (DACA) status.
The Bottom Line
Jeff Bezos lost the name of the wealthiest man on Earth in 2021, but he remains the third flushest person in 2023. Besides Elon Musk, only Bernard Arnault of France exceeds Bezos’ wealth.
Bezos is Amazon’s founder and then former chief executive officer (CEO) and remains its policymaking chair.