Shortly after that, the family shifted to Houston, Texas where Jeff began his early schooling. [45][failed verification] In November 2007, Bezos launched the Amazon Kindle. [78] He has been compared to Branson and Elon Musk as all three are billionaires who prioritize spaceflight among their business interests. [209] Bezos and his now ex-wife MacKenzie are the parents of four children: three sons, and one daughter adopted from China. He is also the founder of Blue Origin, a company that aims to make space travel affordable to ordinary people. [40] In late 2002, rapid spending from Amazon caused it financial distress when revenues stagnated. His one line consisted of a response to an alien in distress: "Speak Normally." Bezos’ general "Vision is absolutely important, but it doesn't … [79], In 2015, Bezos announced that a new orbital launch vehicle was under development and would make its first flight in the late-2010s. [55] Due to the growth of Alibaba in China, Bezos has often expressed interest in expanding Amazon into India. He should pay his workers first", "If Jeff Bezos wants to help low-income people why not just pay them better? [223], After the 2016 presidential election, Bezos was invited to join Donald Trump's Defense Innovation Advisory Board, an advisory council to improve the technology used by the Defense Department. [35][33], In late 1993, Bezos decided to establish an online bookstore. [87] In July 2018, it was announced that Bezos had priced commercial spaceflight tickets from $200,000 to $300,000 per person. [189] The Motley Fool estimated that if Bezos had not sold any of his shares from its original public offering in 1997, his net worth would sit at $181 billion in 2018. [100] Bezos is involved in the healthcare sector, which includes investments in Unity Biotechnology, Grail, Juno Therapeutics, and ZocDoc. If he said today, nobody who is employed at Amazon will receive less than a living wage, it would send a message to every corporation in America. During high school, he started a Dream Institute, an educational summer camp for fourth, fifth and sixth grade students. "[66] He later said: "Bezos could play a profound role. Though Bezos owns a $65 million private jet, he also has recently owned a car that will probably shock surprise you, one that you’ve probably seen driving around your neighborhood at one point in time. [107] They were positively identified as belonging to the Apollo 11 mission's S-1C stage from July 1969. [36] He left his job at D. E. Shaw and founded Amazon in his garage on July 5, 1994, after writing its business plan on a cross-country drive from New York City to Seattle. Bezos quadrupled his net worth from 2005 to 2007, bringing it to $8.7 billion, but was hurt by the financial crisis and economic recession. [43] In 2003, Amazon rebounded from financial instability and turned a profit of $400 million. [238][239] Saudi Arabia has denied the claim. [102][103], Bezos also supports philanthropic efforts through direct donations and non-profit projects funded by Bezos Expeditions. [71], In September 2000, Bezos founded Blue Origin, a human spaceflight startup company. [40] In 2000, Bezos borrowed $2 billion from banks, as its cash balances dipped to only $350 million. Yes. [142], He meets with Amazon investors for a total of only six hours a year. [89] To execute the sale, he established limited liability company Nash Holdings to serve as a holding company through which he would own the newspaper. [249] As part of this announcement, he committed to establishing the "Day 1 Families Fund" to finance "night shelters and day care centers for homeless families" and the "Day 1 Academies Fund" for early childhood education. [255][256][257] Bezos also donated $100 million to food banks through Feeding America during the COVID-19 pandemic. [167] After the financial crisis and succeeding economic recession, his net worth would decrease to $6.8 billion—a 17.7% drop. In 2020, his net worth went up by $70bn. [120][121], During the early 2010s, Bezos solidified his reputation for aggressive business practices, and his public image began to shift. [12] The family moved to Houston, Texas, where Mike worked as an engineer for Exxon after he received a degree from the University of New Mexico. [47] In 2013, Bezos secured a $600 million contract with the Central Intelligence Agency (CIA) on behalf of Amazon Web Services. Find out this backstory and more in Ladders’ complete Jeff Bezos profile. On October 10, 2017, he made an estimated $6.24 billion in 5 minutes, slightly less than the annual Gross Domestic Product of Kyrgyzstan. Bezos rose to be the 5th richest person in the world hours before market close; he gained $7 billion in one hour. [229] A 2018, $10 billion contract known as the Joint Enterprise Defense Infrastructure (JEDI) project, this time with the Pentagon, was allegedly written up in a way that favors Amazon. [139] Journalist Walt Mossberg dubbed the idea that someone who cannot tolerate criticism or critique shouldn't do anything new or interesting "The Bezos Principle". [48] In October of that year, Amazon was recognized as the largest online shopping retailer in the world. At 30-years-old, Bezos became the hedge fund’s fourth senior vice-president. [31][32], After Bezos graduated from Princeton University in 1986, he was offered jobs at Intel, Bell Labs, and Andersen Consulting, among others. Bezos founded the aerospace manufacturer and sub-orbital spaceflight services company Blue Origin in 2000. Over the years he grew Amazon from a small online bookstore into the largest online retailer. It’s July 1994, and he is only 30 when the nascent form of the retail giant is unleashed upon the world as a timid, garage-based online bookstore. [38] He warned many early investors that there was a 70% chance that Amazon would fail or go bankrupt. Bezos established Nash Holdings, a limited liability holding company, to execute the purchase. [9] At the time of his birth, his mother was a 17-year-old high school student and his father was a bike shop owner. He is best known as the founder, CEO, and president of the multi-national technology company Amazon. Bezos was a multi-billionaire who drove a 1996 Honda Accord. Will I regret missing the beginning of the Internet? )", "America produced the largest number of billionaires in the world", "Jeff Bezos moves to top spot on Forbes' annual billionaires list", "Here's Why Jeff Bezos Is Not Truly The Richest Person in History", "Jeff Bezos Had a Record-Breaking One-Year Net Worth Jump", "Forbes Billionaires 2018: Meet The Richest People on the Planet", "Jeff Bezos world's first centibillionaire: Amazon boss' journey to beat Bill Gates to the top of Forbes list", "Jeff Bezos Is Worth $112 Billion, Overtaking Bill Gates as the Richest Man in the World", "Bezos' Billions: The Wealth of a 'Centi-Billionaire, "Jeff Bezos Is Making an Insane $230,000 a Minute Right Now", "Here's How Much Amazon CEO Jeff Bezos Would Be Worth if He Never Sold a Single Share", "Jeff Bezos is rich enough to buy many of the world's stock markets outright", "Is Jeff Bezos's Massive Wealth Becoming a Problem? [88], On August 5, 2013, Bezos announced his purchase of The Washington Post for $250 million in cash. Bezos made his first major change by eliminating the online paywall for subscribers of some local papers in Texas, Hawaii, and Minnesota. "[67] Sanders's efforts elicited a response from Amazon which pointed to the 130,000 jobs it created in 2017 and called the $28,446 figure for its median salary "misleading" as it included part-time workers. [44] After the company nearly went bankrupt, he closed distribution centers and laid off 14% of the Amazon workforce. Bezos worked here until 1994 when he left to start Amazon after writing up the business plan on a road trip from New York to Seattle. ", "Jeff Bezos's Net Worth Hits Record $151 Billion After Strong Amazon 'Prime Day, "Jeff Bezos Becomes the Richest Man in Modern History, Topping $150 Billion", "Jeff Bezos Is Now the Richest Man in Modern History, Topping $150 Billion", "Jeff Bezos becomes the richest person in modern history amid Amazon Prime Day kickoff", "Is Jeff Bezos Really the Richest of Them All? The company was founded as a result of what Jeff Bezos called his "regret … For a mere $1.49 million, you can now own a big piece of Amazon history. ", "Why Trump went after Bezos: Two billionaires across a cultural divide", "9 Shocking Anecdotes That Reveal Jeff Bezos's Cutthroat Management Style", "How Jeff Bezos Became a Power Beyond Amazon", "Guess How Many Pillsbury Biscuits Jeff Bezos Used to Eat Daily", "How Amazon Got Swole Just Like CEO Jeff Bezos", "Jeff Bezos: The man who turned Amazon into an empire", "Amazon CEO Jeff Bezos stuns everyone with his macho look, Twitter users compare him with The Rock, Vin Diesel", "Jeff Bezos's latest sideline has lots of people comparing him to a comic-book supervillain", "Jeff Bezos, Who Is Not A Super-Villain, Is Building A Giant Clock Inside A Mountain, Because He's NOT A Super-Villain", "On SNL, a bald Steve Carell plays Jeff Bezos – and won't stop trolling Trump", "Jeff Bezos Eats Iguana, Vows to Make Space Travel Cheaper With 'Amazon Lottery Winnings, "What You Can Learn from Jeff Bezos's Sleep Habits", "5 Things Jeff Bezos Does Other Than Work", "Amazon's Jeff Bezos Wins ITUC's World's Worst Boss Poll", "For Bezos, Now World's Richest, Philanthropy Is 'Saved for Later, "Amazon launches a scathing response to Times story", "Jeff Bezos responds to 'New York Times' report on Amazon's workplace", "This is the Jeff Bezos playbook for preventing Amazon's demise", "Amazon's Bezos could teach large companies a thing or two about strategy", "What Amazon's Jeff Bezos thinks about Peter Thiel and Hulk Hogan vs. Gawker", "A day in the life of the richest person in history, Jeff Bezos – who made $6.44 billion in one day and still washes the dishes after dinner", "This is Jeff Bezos' 3-question test for new Amazon employees", "Kevin's Week in Tech: Jeff Bezos Reminds Tech Who's Boss", "5 key business lessons from Amazon's Jeff Bezos", "What Makes Amazon CEO Jeff Bezos Such a Visionary Leader", "Amazon CEO Jeff Bezos explains his famous one-character emails, known to strike fear in manager's hearts", "Forum on Leadership: Conversation with Jeff Bezos", "Jeffrey Preston Bezos: 1999 Person of the year", "America's Best Leaders: Jeff Bezos, CEO", "April 22: Founder Jeff Bezos to Speak at Carnegie Mellon Business School and Computer Science Diploma Ceremonies", "Charging ahead: e-book design and popularity win Kindle creators Innovation Award", "Amazon's Jeff Bezos: The ultimate disrupter", "Jeff Bezos on nuclear reactors in space, the lack of bacon on Mars and humanity's destiny in the solar system", "National Academy of Engineering Elects 83 Members and 16 Foreign Members", "Jeff Bezos responded to reports of poor working conditions at Amazon – here's what he said", "Jeff Bezos: The World's 100 Most Influential People", "The Age When 17 Self-Made Billionaires Earned Their First Million", "Jeff Bezos' Net Worth Rises $1.4 Billion on Rumors of 3-D Amazon Smartphone", "Jeff Bezos Just Gained $7 Billion in an Hour to Become World's Fifth Richest", "The Full List of Every American Billionaire 2016", "Amazon CEO Jeff Bezos' Net Worth Hits Record High As Fortune Jumps $2.6 Billion", "Amazon CEO Jeff Bezos Is the Richest Person in the World – Again", "Forbes 2017 Billionaires List: Meet The Richest People on the Planet", "Jeff Bezos Made $6.2 Billion in 5 Minutes and Became the World's Richest Person (How Was Your Thursday? In 2016 Bezos was on a mission to reinvent the newspaper as a media technology company, which ended up being successful as it was profitable for the first time since Bezos purchased it in 2013. [191] Following the report by Quartz, Amazon workers in Poland, (Germany), and Spain participated in demonstrations and labor strikes to draw attention to his growing wealth and the lack of compensation, labor rights, and satisfactory working conditions of select Amazon workers. During the 1990s, Bezos earned a reputation for relentlessly pushing Amazon forward, often at the expense of public charity and social welfare. [187] Bezos's net worth increased by $33.6 billion from January 2017 to January 2018. Throughout the earl… We must return to the Moon—this time to stay. [141] When interviewing candidates for jobs at Amazon he has stated he considers three inquiries: can he admire the person, can the person raise the common standard, and under what circumstances could the person become exemplary. [25] In his graduation speech, Bezos told the audience he dreamed of the day when mankind would colonize space. [211] Bezos sustained minor injuries and was discharged from a local hospital the same day. [17] Multiple opinion columnists responded by asking Bezos to pay higher wages to Amazon warehouse workers. But how did he do it? [128] Bezos eats exotic foods, such as octopus and roasted iguana. [87] He announced that New Shepard would begin transporting humans into sub-orbital space by November 2018. [80] Later in November, Blue Origin's New Shepard space vehicle successfully rocketed into space and reached its planned test altitude of 329,839 feet (100.5 kilometers) before executing a vertical landing back at the launch site in West Texas. Jeff Bezos, founder and CEO of Amazon, is one of the richest people in the tech industry. The first centi-billionaire on the Forbes wealth index,[4] Bezos has been the world's richest person since 2017 and was named the "richest man in modern history" after his net worth increased to $150 billion in July 2018. Forensic analysis of Bezos's mobile phone conducted by advisory firm FTI Consulting, concluded it "highly probable" that the hack was achieved using a malicious file hidden in a video sent in a WhatsApp message to Bezos from the personal account of the crown prince on May 1, 2018. [24] He attended the Student Science Training Program at the University of Florida. In his initial discussion of the project which became Alexa with his technical advisor Greg Hart in 2011, Bezos told him that the goal was to create "the Star Trek computer." Amazon CEO Jeff Bezos' net worth just reached a new high of $171.6 billion. Although the crash was viewed as a setback, news outlets noted how far the company went from its founding-to-date in advancing spaceflight. He targeted the untapped potential of the internet and started an online bookstore. "[225][226][227][228], In 2014, Amazon won a bid for a cloud computing contract with the CIA valued at $600 million. [177] His net worth surpassed $100 billion for the first time on November 24, 2017, after Amazon's share price increased by more than 2.5%. Next, he focused on the 5 most promising of them: books, compact discs, computer hardware, computer software and videos. No matter how far Amazon had come, Bezos would always retain the startup culture he had when he started in the 1990s (Birkinshaw & Duke, 2015). In 1993, he left his job at D.E. ",,}%7Curl-status=}, "Jeff Bezos to fund schools where 'child will be the customer' with new charity", "Jeff Bezos to Create $2 Billion Fund for Homeless, Preschools", "Jeff Bezos Unveils Multibillion-Dollar Plans For Charitable Giving", "Jeff Bezos donates $33 million to scholarship fund for 'dreamers, "Backed by Bill Gates and Jeff Bezos, Breakthrough Energy Ventures places first bets on power storage", "Jeff Bezos donates $10 million to organization that helps veterans run for office", "Amazon founder Jeff Bezos commits $10bn to fight climate change", "Jeff Bezos: World's richest man pledges $10bn to fight climate change", "Twitter boss pledges $1bn for coronavirus relief", "Why Jeff Bezos's $100 million donation to food banks won't satisfy his critics", "Jeff Bezos reveals what it's like to build an empire", "Inside Jeff Bezos's Washington D.C. Life", "Jeff Bezos collected news and commentary", List of mergers and acquisitions by Amazon,, Businesspeople from Albuquerque, New Mexico, Fellows of the American Academy of Arts and Sciences, Princeton University School of Engineering and Applied Science alumni, Wikipedia articles needing factual verification from December 2019, Wikipedia indefinitely semi-protected pages, Short description is different from Wikidata, All Wikipedia articles written in American English, Articles with failed verification from September 2020, Wikipedia articles with BIBSYS identifiers, Wikipedia articles with SUDOC identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, In 1999, Bezos received his first major award when, Bezos was awarded an honorary doctorate in science and technology from, In 2012, Bezos was named Businessperson of the Year by, In 2014, he was ranked the best-performing CEO in the world by, In September 2016, Bezos received a $250,000 prize for winning the, In February 2018, Bezos was elected to the. At birth he was actually named Jeffrey Preston Jorgensen. In 2016, Bezos allowed select journalists to visit, tour, and photograph his facility. in electrical engineering and computer science; he was also a member of Phi Beta Kappa. [51] A year later, Bezos took on 130,000 new employees when he ramped up hiring at company distribution centers. [91] In March 2014, Bezos made his first significant change at The Washington Post and lifted the online paywall for subscribers of a number of U.S. local newspapers in Texas, Hawaii, and Minnesota. [112][113] His business practices projected a public image of prudence and parsimony with his own wealth and that of Amazon. Nash Holdings legally owns the paper as of October 1, 2013. [123][124] His physical appearance increased the public's perception of him as a symbolically dominant figure in business and in popular culture, wherein he has been parodied as an enterprising super villain. [245] On June 15, 2017, he posted a message on Twitter asking for ideas for philanthropy: "I'm thinking about a philanthropy strategy that is the opposite of how I mostly spend my time—working on the long term". [27] In 1986, he graduated summa cum laude from Princeton University with a 4.2 GPA and a Bachelor of Science in Engineering degree (B.S.E.) Then Bezos called his bluff", "Why Amazon's collaboration with the CIA is so ominous – and vulnerable", "DoD's $10B cloud contract comes under protest 11 days after final RFP", "Microsoft wins Pentagon's $10bn cloud computing contract", "Amazon suing Pentagon over $10B cloud contract, alleging 'bias, "Amazon Pushes ICE to Buy Its Face Recognition Surveillance Tech", "Amazon's growing spending on Seattle politics includes a spate of donations from Jeff Bezos' 'S Team, "Saudi crown prince meets Amazon CEO Jeff Bezos in Seattle", "Saudi Arabia 'hacked Amazon boss's phone', says investigator", "Jeff Bezos hack: Amazon boss's phone 'hacked by Saudi crown prince, "Jeff Bezos hack: Saudi Arabia calls claim 'absurd, "Fred Hutch receives $35 million donation, largest ever, from Bezos family", "Amazon CEO Jeff Bezos and family donate $20M to Fred Hutchinson Cancer Research Center", "Jeff Bezos is the richest man in modern history – here's how he spends on philanthropy", "Unanswered questions about Jeff Bezos' new $2 billion philanthropic fund", "Jeff Bezos just gave $1 million to the Reporters Committee for Freedom of the Press", "Jeff Bezos wants to give more money to charity. He is now worth $185billion [104] Bezos used Bezos Expeditions to fund several philanthropic projects, including an Innovation center at the Seattle Museum of History and Industry and the Bezos Center for Neural Circuit Dynamics at Princeton Neuroscience Institute. On May 9, Blue Origin announced Blue Moon, its large lunar lander that is capable of delivering multiple metric tons of payload to the lunar surface. A 33 Years Old Jeff Bezos Explains How He Started Amazon . Bezos retained his interest in The Washington Post and Blue Origin, as well as voting control of the shares received by his ex-wife. He originally titled the company Cadabra, but changed it to name it after the Amazon River. [181] He unseated Bill Gates ($90 billion) who was $6 billion ahead of Warren Buffett ($84 billion), ranked third. The couple’s first son, Prezton Bezos, was born in 2000. He received an estimated $300,000 to invest in Amazon from his parents. This page was last edited on 16 December 2020, at 02:49. [73] The 18-year-old Bezos stated that he wanted to preserve Earth from overuse through resource depletion. [143] Starting in 1998, Bezos publishes an annual letter for Amazon shareholders wherein he frequently refers to five principles: focus on customers not competitors, take risks for market leadership, facilitate staff morale, build a company culture, and empower people. When he turned 30, he began realizing the opportunity in the internet revolution and decided to quit his job and founded an internet company. Shaw in 1992. In this success story, we are going to share Jeff Bezos biography, an American entrepreneur and e-commerce pioneer, the creator of online store Grade point average, earning degrees in electrical engineering and computer science actually named Jeffrey Preston Jorgensen by. Bezos retained his interest in speech recognition for $ 250 million in cash garage in Seattle $ 1.49 million you... 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