Jeff Bezos Net Worth
Jeff Bezos has an estimated net worth of $135.3 billion. He is the founder and executive chairman of Amazon.com and owner of ‘The Washington Post.’ His successful business ventures have made him one of the richest people in the world. He earned the majority of his income from Amazon.
Jeff Bezos is the founder and CEO of the e-commerce company Amazon, the owner of The Washington Post, and the founder of the space exploration company Blue Origin. His successful business ventures have made him one of the world’s wealthiest people. Bezos, who was born in New Mexico in 1964, developed an early interest in computers and went on to study computer science and electrical engineering at Princeton University. He worked on Wall Street after graduation, and in 1990 he was the youngest senior vice president at the investment firm D.E. Shaw. Bezos left his lucrative job four years later to launch Amazon.com, an online bookstore that became one of the Internet’s biggest success stories. Bezos bought The Washington Post in 2013, and Amazon bought Whole Foods in 2017. Amazon announced in February 2021 that Bezos will step down as CEO in the third quarter of the year.
To calculate the net worth of Jeff Bezos, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as loans and personal debt, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$135.3 Billion|
|Monthly Salary:||$400 Million+|
|Annual Income:||$6 Billion+|
|Source of Wealth:||Entrepreneur|
Early Life and Education
Bezos was born in Albuquerque, New Mexico, on January 12, 1964, to a teenage mother, Jacklyn Gise Jorgensen, and his biological father, Ted Jorgensen.
The Jorgensens had been married for less than a year. Bezos’ mother remarried Mike Bezos, a Cuban immigrant, when he was four years old.
Bezos earned a bachelor’s degree in computer science and electrical engineering from Princeton University in 1986.
As a child, Bezos was fascinated by how things worked, converting his parents’ garage into a laboratory and rigging electrical contraptions around his house.
As a teenager, he moved to Miami with his family, where he developed an interest in computers and graduated valedictorian of his high school. During high school, he established the Dream Institute, an educational summer camp for fourth, fifth, and sixth graders.
Career in Finance
Following his graduation from Princeton, Bezos worked at several Wall Street firms, including Fitel, Bankers Trust, and the investment firm D.E. Shaw. Bezos became D.E. Shaw’s youngest vice president in 1990.
Despite the fact that his career in finance was extremely lucrative, Bezos chose to take a risk and enter the nascent world of e-commerce. He quit his job in 1994, moved to Seattle, and opened an online bookstore to capitalize on the untapped potential of the Internet market.
Founder and CEO of Amazon.com
On July 16, 1995, Bezos launched Amazon.com, named after a meandering South American river, after asking 300 friends to beta test his site. Several employees began developing software with Bezos in his garage in the months leading up to the launch, eventually expanding operations into a two-bedroom house outfitted with three Sun Microstations.
The company’s initial success was meteoric. Amazon.com sold books across the United States and in 45 foreign countries in 30 days with no press promotion. Sales reached $20,000 per week in two months, far faster than Bezos and his startup team had anticipated.
When Amazon.com went public in 1997, many market analysts wondered if the company would be able to compete when traditional retailers launched their own e-commerce sites. Two years later, the start-up had not only kept up with, but also outpaced competitors, establishing itself as an e-commerce leader.
Bezos continued to diversify Amazon’s offerings by selling CDs and videos in 1998, followed by clothing, electronics, toys, and other items through major retail partnerships.
While many dot.coms failed in the early 1990s, Amazon thrived, with annual sales increasing from $510,000 in 1995 to over $17 billion in 2011.
Bezos stated in his 2018 annual shareholder letter that the company had surpassed 100 million paid subscribers for Amazon Prime. Amazon was valued at more than $1 trillion by September 2018, making it the second company in history to do so, just a few weeks after Apple.
Amazon announced at the end of 2018 that it would raise the minimum wage for its employees to $15 per hour. Workers protested during Prime Day in July 2019 in protest of the company’s working conditions and grueling pace.
Amazon Instant Video & Amazon Studios
Amazon.com launched its video-on-demand service in 2006. It was originally known as Amazon Unbox on TiVo before being rebranded as Amazon Instant Video.
With the launch of Amazon Studios in 2013, Bezos debuted several original programs. The critically acclaimed Transparent and Mozart in the Jungle were the company’s breakout hits in 2014.
In 2015, the company produced and released its first original feature film, Spike Lee’s Chi-Raq.
Bezos appeared in Star Trek Beyond as an alien in a cameo appearance in 2016. Bezos, who has been a Star Trek fan since childhood, is listed as a Starfleet Official in the movie credits on IMDb.
The Seattle Times reported in early 2018 that Amazon had consolidated its consumer retail operations to focus on growing areas such as digital entertainment and Alexa, Amazon’s virtual assistant.
In 2007, Amazon released the Kindle, a portable digital book reader that allowed users to buy, download, read, and save their book selections.
With the release of the Kindle Fire in 2011, Bezos introduced Amazon into the tablet market. The following September, he unveiled the new Kindle Fire HD, the company’s next-generation tablet designed to compete with Apple’s iPad.
“We did not create the best tablet for the money. We created the best tablet at any price “According to ABC News, Bezos stated.
Bezos made headlines in early December 2013 when he revealed a new, experimental Amazon initiative called “Amazon Prime Air,” which uses drones to provide delivery services to customers. He stated that these drones would be able to carry items weighing up to five pounds and travel within a 10-mile radius of the company’s distribution center.
On December 7, 2016, the first Prime Air delivery took place in Cambridge, England.
When Amazon launched the Fire Phone in 2014, Bezos oversaw one of the company’s few major blunders. It was discontinued the following year after being criticized for being too gimmicky.
Bezos had been interested in the food delivery market, and Amazon announced in 2017 that it had purchased the Whole Foods grocery chain for $13.7 billion in cash.
Amazon Prime customers can now get in-store deals and grocery delivery in as little as two hours, depending on the market. As a result, Walmart and Kroger began to offer meal delivery to their customers.
Owner of ‘The Washington Post’
On August 5, 2013, Bezos made global headlines when he paid $250 million for The Washington Post and other publications affiliated with its parent company, The Washington Post Co.
The transaction marked the end of the Graham family’s four-generation reign over The Post Co., which included Donald E. Graham, the company’s chairman and CEO, and his niece, Post publisher Katharine Graham.
In an attempt to explain the transaction, Graham stated, “The Post could have survived under the company’s ownership and been profitable for the foreseeable future.” “But we wanted to accomplish more than just survive. I’m not saying this guarantees success, but it certainly increases our chances.”
On August 5, Bezos issued the following statement to Post employees:
“The Post’s values do not need to be altered.
Of course, there will be changes at The Post in the coming years. That is critical and would have occurred regardless of new ownership. The Internet is changing almost every aspect of the news industry, shortening news cycles, eroding long-reliable revenue sources, and enabling new types of competition, some of which have little or no news-gathering costs.”
Bezos hired hundreds of reporters and editors and tripled the newspaper’s technology staff (hundreds of those employees published an open letter to their boss in the summer of 2018 requesting salary increases and better benefits). The organization boasted a number of scoops, including the revelation that former National Security Advisor Michael Flynn lied about his contact with Russians, prompting his resignation.
The organization declared itself profitable in 2016.
The following year, the Post’s ad revenue surpassed $100 million, with three consecutive years of double-digit revenue growth. According to ComScore, Amazon quickly surpassed The New York Times digital in terms of unique users, with 86.4 million unique users as of June 2019.
Bezos founded Blue Origin in 2000, an aerospace company that develops technologies to reduce the cost of space travel so that it is affordable to paying customers. The company operated quietly for over a decade and a half.
Bezos then invited reporters to his headquarters in Kent, Washington, just south of Seattle, in 2016. He painted a picture of humans not just visiting but eventually colonizing space. Bezos promised in 2017 that he would sell about $1 billion in Amazon stock each year to fund Blue Origin.
Two years later, he unveiled the Blue Origin moon lander and announced that the company was testing its suborbital New Shepard rocket, which would transport tourists into space for a few minutes.
“We’re going to build a space road.” “And then incredible things will happen,” Bezos predicted.
Blue Origin was one of 13 companies chosen by NASA in August 2019 to collaborate on 19 technology projects to reach the moon and Mars. Blue Origin is working on a safe and precise moon landing system, as well as engine nozzles for liquid-fueled rockets. In addition, the company is collaborating with NASA to build and launch reusable rockets from a refurbished complex near NASA’s Kennedy Space Center.
Bezos Day One Fund
Bezos established the Bezos Day One Fund in 2018, with the goal of “funding existing non-profits that assist homeless families and establishing a network of new, non-profit tier-one preschools in low-income communities.” Bezos made the announcement a year after asking his Twitter followers how they could donate a portion of his fortune.
Bezos founded the organization with his ex-wife MacKenzie prior to their divorce, and he donated $2 billion of his personal fortune to it.
Bezos, as one of the world’s wealthiest people, had previously been publicly chastised for his lack of philanthropic efforts.
Amazon, Berkshire Hathaway, and JPMorgan Chase issued a joint press release on January 30, 2018, announcing plans to pool their resources to form a new healthcare company for their U.S. employees.
According to the release, the company will be “free from profit-making incentives and constraints” as it seeks ways to reduce costs and improve patient satisfaction, with an initial focus on technological solutions.
“The healthcare system is complex, and we approach this challenge with an open mind about the degree of difficulty,” Bezos said. “As difficult as it may be, reducing the economic burden of healthcare while improving outcomes for employees and their families would be worthwhile.”
Bezos announced the establishment of the Bezos Earth Fund on February 17, 2020, to combat the potentially disastrous effects of climate change. Bezos said he would start issuing grants and fund “scientists, activists, NGOs — any effort that offers a real possibility to help preserve and protect the natural world” in addition to committing $10 billion to the initiative.
Stepping Down as CEO
Amazon announced in February 2021 that Bezos will step down as CEO in the third quarter of the year. He will take over as executive chair of Amazon’s board of directors.
Wife and Kids
Bezos met MacKenzie Tuttle at D.E. Shaw, where he was a senior vice president and she worked as an administrative assistant to pay the bills and fund her writing career. The couple dated for three months before getting engaged and marrying in 1993.
MacKenzie was a key figure in the creation and success of Amazon, contributing to the creation of the company’s first business plan and serving as the company’s first accountant. Despite her quiet and bookish demeanor, she publicly supported Amazon and her husband. MacKenzie, a novelist by trade who studied under Toni Morrison at Princeton University, published her first book, The Testing of Luther Albright, in 2005 and her second novel, Traps, in 2013.
Bezos and MacKenzie divorced in 2019 after more than 25 years of marriage. Bezos’ stake in Amazon was reduced from 16 percent to 12 percent as part of the divorce settlement, putting his stake at nearly $110 billion and MacKenzie’s at more than $37 billion. MacKenzie declared her intention to donate at least half of her fortune to charity.
Bezos and MacKenzie have four children: three sons and a Chinese-adopted daughter.
The National Enquirer published an 11-page exposé of Bezos’ extramarital affair with television host Lauren Sanchez shortly after he announced his divorce from MacKenzie in January 2019.
Following that, Bezos launched an investigation into The National Enquirer and its parent company, American Media Inc. The following month, in a lengthy Medium post, Bezos accused AMI of threatening to publish explicit photos if he did not drop the investigation.
“Of course, I don’t want my personal photos published, but I also won’t engage in their well-known practice of blackmail, political favors, political attacks, and corruption,” Bezos wrote. “I’d rather stand up, turn this log over, and see what crawls out.”
Bezos suggested in the same post that there could be a link between AMI’s actions and the Saudi government. A forensic examination of Bezos’ phone later revealed that it had been hacked after the billionaire received a video via WhatsApp from Saudi Arabia’s Crown Prince Mohammed bin Salman.
Sanchez divorced her husband in April of this year. That July, she and Bezos made their first public appearance as a couple at Wimbledon.
Success Lessons From Jeff Bezos
1. Take that leap!
Fear is the reason many people will live and die average. If procrastination is the greatest thief of time and opportunity, fear comes right behind her. For some people it is not really the fear of an uncertain future, rather it is the comfort and security they derive from being in a particular position.
Jeff had a lucrative job, it was paying good money. If he wanted to be just an ordinary guy he would have stuck with that job, but he didn’t, and that is why we are writing about him today. Ask any successful businessman, from Aliko Dangote to Richard Branson, they would all tell you, risk comes with being successful, the greater the risk the greater the reward. If you ain’t ready to take risks then you ain’t ready to live big.
2. Despise not Humble Beginnings
Jeff started Amazon in his garage, today it is a multibillion dollar firm. Many other successful businesses started with even less. Start where you are with whatever you have.
3. Be a trailblazer
There is a magic attached to being the first at something.
Although Jeff’s Amazon was not the first e-store, he was one of the pioneers. Try to create an uncontested market space for yourself. Create something that most other people are not into. Even if they are into it, try to make yours stand out. Most people are just contented with following trends, they are okay being followers. Don’t go that way, try to be a leader. There is a magic attached to being the first.
Favorite Jeff Bezos Quotes
A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.
We see our customers as invited guests to a party, and we are the hosts. It’s our job every day to make every important aspect of the customer experience a little bit better.
Life’s too short to hang out with people who aren’t resourceful.
If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.
What consumerism really is, at its worst is getting people to buy things that don’t actually improve their lives.
I believe you have to be willing to be misunderstood if you’re going to innovate.
What we need to do is always lean into the future; when the world changes around you and when it changes against you – what used to be a tail wind is now a head wind – you have to lean into that and figure out what to do because complaining isn’t a strategy.
There’ll always be serendipity involved in discovery.
I think frugality drives innovation, just like other constraints do. One of the only ways to get out of a tight box is to invent your way out.
The human brain is an incredible pattern-matching machine.
View our larger collection of the best Jeff Bezos quotes.
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How To Become Rich Like Jeff Bezos?
Jeff Bezos did not become rich by luck. To become as rich as Jeff Bezos, you have to work smart.
Successful people become rich because they take advantage of the opportunities that come their way. They are in the right place at the right time and take the right action.
Thanks to the Internet, the world has changed massively in recent years. Nowadays it has become much easier to make money online.
Instead of looking for a 9-5 job and staying in your comfort zone, it’s better if you become your own boss as soon as possible.
You can learn how to build a digital asset that generates cash flow for you while you sleep to grow your wealth quickly.
If you seize this golden opportunity in time, you can become as successful as Jeff Bezos one day.