Introduction
Jeff Bezos become the only man with a 12-digit fortune on the planet as he wins another $ 1 billion. Jeff Bezos, founder and CEO of Amazon, saw his fortune grow 2.800 million dollars on Tuesday when the shares of its e-commerce giant rose 2.5%, a day after the launch of its first store “without boxes.”
Bezos now has a net worth of 113.5 billion dollars, according to Forbes, the highest in its history. Which gives it a significant advantage over the second and third richest man in the world, Bill Gates and Warren Buffett, who have a net worth of 90.9 billion dollars and 84.8 billion dollars, respectively. The 12-digit fortune of Bezos nominally makes him the richest person since Forbes began tracking fortunes in 1982. However, if we take into account inflation, Bill Gates was richer in 1999, when it exceeded the $ 100 billion, approximately $150 billion in today’s dollars.
Bezos recently began giving away part of his fortune. The son of a Cuban immigrant, Jeff Bezos asked his 420k followers on Twitter in 15th June 2017 for philanthropic ideas, and recently donated $33 million to fund university scholarships for undocumented students.
In that tweet, Bezos stated that he is “very inspired and moved” by a local Seattle non-profit that helps homeless women called Mary’s Place. In 2016, Jeff Bezos offered to match up to $1 million in donations to Emergency Shelter for Homeless Families (Mary’s Place) through a one-day match challenge.
Bezos’ parents, Jackie and Mike Bezos, run the Bezos Family Foundation, which focuses primarily on education. Jeff Bezos and his brothers are directors, and the foundation is funded in large part by Amazon shares donated by Bezos’ parents. According to the foundation’s IRS documents, Bezos did not donate a single thing to the foundation until 2011 when he contributed just under $1 million in Amazon shares.
The Founder of Microsoft has also donated a large part of his wealth, the total of donations throughout his life amounts to more than 36,000 million dollars. His Bill and Melinda Gates Foundation ran by Gates and his wife. It was launched in 2000 and is said to be the largest private foundation in the US, holding $38 billion in assets.
Bezos obtains most of its wealth from its 16% stake in Amazon. Also, the owner of The Washington Post and the founder of the rocket startup Blue Origin. The business has gone well for The Post; It was reported in early January that the legendary newspaper more than doubled its digital subscriptions in 2017 and will be profitable for the second year in a row.
On January 18, Amazon announced a list of 20 finalists for its second site, after receiving 238 proposals from across North America. Only four days later, the long-awaited Amazon Go store opened in their hometown of Seattle. The store, previously only accessible to employees, sells a limited selection of groceries, food kits, and prepared foods. Customers enter the store with the Amazon Go application, collect items from the shelves and then leave with the products, without having to wait for an ATM to arrive. The cameras are lined up in the store to keep track of each buyer’s purchases, and the invoice is charged to their Amazon accounts.
It is not yet clear where Amazon is going to with Amazon Go, although it has been expanding its physical exposure, both with its bookstores and with the acquisition of organic grocery retailer Whole Foods.
Bezos started on Wall Street, where he worked for the famous hedge-fund DE Shaw after graduating from Princeton with a degree in computer science and electrical engineering. After climbing the ladder at DE Shaw, Bezos resigned and drove across the country to Seattle in 1994. He founded Amazon in his home garage and began selling books online, personally taking the packages to the post office in his home. Chevy Blazer 1987. The Online Market Place is now one of the most valuable companies in the world, active in cloud computing, streaming, and smart devices, with a market capitalization of more than 690.82billion dollars.
The Amazing Story of Amazon
Online businesses that have been funded by Jeff Bezos;
Airbnb – Online home rental marketplace
Basecamp – Project Management Software
Behance – Self-promotion network
Business Insider – Business related news blog
Google – Search engine
Kongregate – Online Gaming
Linden Lab – Online Gaming
Next-door – Localised Social Networking
pro.com – Home services marketplace
Rescale – cloud computing simulations
Skytap – Cloud computing
Stack Exchange – technology publisher
Twitter – Social network
Workday – Software Business
Lifestyle
Jeff is a fitness enthusiast, he enjoys going to the gym and sticks to a healthy diet. Part of his daily routine is waking up naturally at 7am – 8am without the need of an alarm clock, he eats exotic foods – like breakfast octopus.
Quotes
“You have to be willing to be misunderstood if you’re going to innovate.” – Jeff Bezos
“One of the only ways to get out of a tight box is to invent your way out.” – Jeff Bezos
“I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.” – Jeff Bezos
“A company shouldn’t get addicted to being shiny because shiny doesn’t last.” – Jeff Bezos
“If you do build a great experience, customers tell each other about that. Word of mouth is very powerful.” – Jeff Bezos
“If you don’t understand the details of your business you are going to fail.” – Jeff Bezos
Key to Success from Jeff Bezos
Here are some of the best success lessons to learn from Jeff Bezos:
1. Prepare to Fail
Bezos didn’t actually expect to succeed when he first created Amazon.com. Back then, the online game was very new, and the security of such was uncertain. Bezos took a risk, and he knew that there was a great chance of failure. However, his mindset paid off big time.
2. Play the Long Game
In the early days of Amazon, Bezos warned investors that the company was years away from turning a profit. Bezos’s vision included recognising that things wouldn’t always be easy, and that to become profitable, you have to work your way there – which involves envisioning and playing the long game.
3. Start Small, Then Diversify
Amazon began with books. It was a humble and simple beginning to the online empire. Today, however, Amazon sells a ridiculous number of things. The lesson here is to start with what you know, and then proceed to diversify and expand!
Summary
Jeff Bezos went from failing at selling books, to succeeding at selling whatever he wants. Amazon has become an absolute powerhouse and is taking over the new world, and it all started with one guy trying to sell used books. Jeff Bezos’ net worth is estimated to be $113.5 billion, and that is a lot of money!
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