World’s Richest Person Jeff Bezos-Biography

World’s richest person Jeff Bezos, Owner of Amazon.com – Biography

World’s richest person Jeff Bezos belongs to USA and is the founder and chief executive officer of world’s most renowned and famous online selling site Amazon.com. He is also owner of ‘The Washington Post.’ He is one of the billionaire and richest people in the world with net worth of about US$ 192 Billions. We’ll discussed here following topics:
  • About World’s riches person Jeff Bezos
  • Early Life
  • Education
  • Wife and Kids
  • Start of Career
  • Founder and CEO of Amazon.com
  • Amazon Video  and Studios
  • Launch of Kindle E-Reader
  • Amazon Drones
  • Whole Foods Supply Chain
  • Bezos and The Washington Post
  • Blue Origin
  • Bezos Day One Fund
  • Earth Fund

About World’s richest person Jeff Bezos?

Bezos is the founder and Chief Executive Officer Amazon. He owns The Washington Post and founder of Blue Origin which is a space exploration company. in 1964, he was born in New Mexico.  He was found of computers and studied computer science and electrical engineering at Princeton University. After his graduation, he joined Wall Street. In 1990 he became senior vice president of an investment firm D.E. Shaw. After serving about four years in that firm he left the job and opened Amazon.com which is commonly known throughout the world. In the year 2013, he purchased “The Washington Post” and in 2017 Bezos’s Amazon company acquired Whole Foods.

Early Life of Jeff Bezos

He was born on January 12, 1964, in Albuquerque, New Mexico. His mother’s name is Jacklyn Gise Jorgensen and his father’s name is Ted Jorgensen. Ted Jorgensens were married less than a year. When Bezos’s age was 4 years, his mother re-married Mike Bezos, a Cuban immigrant.

In 1986, Bezos completed his graduated from Princeton University in computer science and electrical engineering. In his early age, he moved to Miami with his family where he developed a love for computers and graduated valedictorian of his high school. During his high school studies he started his 1st business known as “the Dream Institute” an educational summer camp for 4th, 5th and 6th graders.

Wife and Kids

Jeff Bezos met MacKenzie Tuttle his colleague at D.E. Shaw. They got married in 1993. His wife MacKenzie played vital role for foundation of Amazon. She helped to create Amazon’s first business plan and also served as a first accountant of company. She published her first book, The Testing of Luther Albright, in 2005, and her second novel, Traps, in 2013.

They lived together about 25 years since their marriage and then they divorced in 2019.  MacKenzie planned to make charity half of her wealth.

The couple have three sons and a daughter whom they adopted from China.

In 2019, Sanchez, a news host, divorced her husband and she married Bezos.

Start of Career

After graduation, he served in many different firms on Wall Street, like Fitel, Bankers Trust and the earlier mentioned investment firm D.E. Shaw where, he, in the year 1990, became senior vice president. He became the youngest Vice President in this firm.  He took interest to explore the world of e-commerce. So, he left his charming job in 1994, moved to Seattle opened an online bookstore.

Founder and CEO of Amazon.com

On 16th of July 1995, Jeff Bezos launched Amazon.com after consultation his friends. He alongwith his a few employees used his garage to develop  software. Then they moved to a small house consisting of two-bedroom equipped with three Sun Microstations.

Within a short period of just 30 days Amazon.com sold books across the United States and 45 other countries. Just within 60 days of start, sales reached upto $20,000 a week. In 1997, Amazon.com hit the market and appeared as a leading e-commerce sites. In 1998, Amazon.com started sale of CDs and videos and afterwards toys, electronics items and variety of clothes and many other items by engaging retail partnership.

Despite the number of dot.coms in the early 90’s crashing, Amazon blossomed with annual sales, jumping from $ 510,000 in 1995 to $ 17 billion in 2011

In a 2018 letter from Bezos shareholders, the shareholder stated that more than 100 million of the company’s shareholders are paying for Amazon Prime. Amazon was worth more than $ 1 trillion as of September 2018, making it the second company to hit that record just weeks after Apple.

As part of Bezos’s 2018 annual shareholder letter, the media tycoon confirmed that the company had more than 100 million paid subscribers for Amazon Prime. In September 2018, Amazon was valued at over $1 trillion, the second company to ever hit that record, just a few weeks after Apple.

By the end of 2018, the company announced that it would increase the minimum wage for its employees to $15 an hour. The company continues to face criticism for its working conditions.

Amazon Video  and Studios

In 2006, Bezos’ company started video-on-demand service, known as Amazon Unbox on TiVo and later on renamed as Amazon Instant Video.

Amazon Studios was launched in 2013 where several original video are produced and premiered. In 2014, the Amazon hit it big  with Transparent and Mozart in the Jungle. Later, In 2015, it produced and released its first feature film Spike Lee‘s Chi-Raq. In 2016, Bezos appeared on camera for a cameo appearance playing an alien in Star Trek Beyond. A Star Trek fan since childhood, Bezos is listed as a Starfleet Official in the movie credits on IMDb.

Launch of Kindle E-Reader

In 2007, Amazon launched the Kindle, a digital book reader that allows users to purchase, download, read, and to store books of their choice.

Later on, In 2011, Amazon jumped into the tablet market with the launch of the Kindle Fire. In September, it announced the new Kindle Fire HD, the company’s next-generation tablet to compete market.

“We haven’t built the best tablet at a certain price. We have built the best tablet at any price,” Bezos said, according to ABC News.

Amazon Drones

At the end of 2013, Bezos made headlines as he launched “Amazon Prime Air” that uses drones to provide delivery services to the valued customers. He stated that drones would be capable for carrying goods weighing about five pounds with the traveling range of 10 miles from the distribution center of the company. In December, 2016 first successful Prime Air Delivery was made in Cambridge, UK.

Whole Foods Supply Chain

After amazing the world, Bezos jumped into the food delivery market. In 2017 the company purchased the Whole Foods Grocery Chain for US$13.7 billion. The company initiated in-store deals to Amazon’s Prime customers and also started grocery delivery to the doorstep in a little time. As a result, Walmart and Krogers started meal delivery to their customers.

Bezos and The Washington Post

In 2013, Bezos purchased “The Washington Post” and its other affiliated publications for $250 million. This deal ended the 4 generation reign of the Graham family over the Post Co. At that time Donald E. Graham was chairman & chief executive, while his niece Katharine Graham was Post publisher

In a statement to Post employees on August 5, Bezos wrote:

“The values of The Post do not need changing. There will, of course, be change at The Post over the coming years. That’s essential and would have happened with or without new ownership. The Internet is transforming almost every element of the news business: shortening news cycles, eroding long-reliable revenue sources, and enabling new kinds of competition, some of which bear little or no news-gathering costs.”

Bezos hired and engaged large number of reporters & editors and increased the the newspaper’s technology staff, three times.  By 2016, it was profitable and its ad revenue was more than US$100 million

Blue Origin

In 2000, he founded Blue Origin. It is an aerospace company that uses technologies for cheaper traveling. This company operated quietly for about 15 years.

Then, in 2016, Bezos invited journalists to visit the headquarters in Kent. He describes the human vision not only to visit, but ultimately to colonize space. In 2017, Bezos promised to sell about $ 1 billion of Amazon shares each year to fund Blue Origin.

Just two years later, he introduced a Blue Origin Moon Lander, saying the company was conducting a New Shepard suborbital rocket test flight that would take tourists into space for minutes.

“We are going to build a road to space. And then amazing things will happen,” Bezos said.

In August 2019, NASA announced that Blue Origin was selected from among 13 companies to collaborate on 19 technology projects to reach the Moon and Mars. Blue Origin develops a safe and accurate landing system for the moon as well as engine nozzles for rockets with liquid ejection.

The company is also working with NASA to build and launch reusable rockets from a renovated complex just outside the NASA Kennedy Space Center. 

Bezos Day One Fund

In 2018, he launched Bezos Day One Fund, which aims to “fund non-profit organizations that help homeless families and create a new network of first-tier and low-income kindergartens.” The announcement came a year after Bezos asked his Twitter followers how to donate a portion of his wealth.

He formed an organization with his ex-wife MacKenzie before their divorce and he donated $2 billion of his personal wealth to fund the nonprofit organization. Bezos, as one of the richest people in the world, has previously been openly criticized for his lack of interest in philanthropic efforts.

Earth Fund

In February  2020, Bezos has announced the establishment of the Bezos Earth Fund to counter the climate change effects on the planet earth. Together to donate $ 10 billion to the initiative, Bezos said he would start awarding grants and funding to “scientists, activists, NGOs – all efforts that offer real opportunities to help preserve and protect the natural world.”

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World’s richest person Jeff Bezos-biography