Jeff Bezos Net Worth 2024: Amazon Founder, Entrepreneur Extraordinaire, and Space Pioneer

Jeff Bezos: Amazon Founder, Entrepreneur Extraordinaire, and Space Pioneer

Jeff Bezos is the founder of Amazon.com and one of the most prominent entrepreneurs of the 21st century. He has an estimated net worth of approximately 20,500 crores USD. He is the world’s second richest person. Jeff Bezos is known as one of America’s leading businessmen. He is best known for founding Amazon.com, but he has also garnered attention for his other efforts, including the founding of Blue Origin, a manned spaceflight business, and his acquisition of the Washington Post. 

 

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Who is Jeff Bezos and his Life?

Jeff Bezos- the creator of the Amazon empire was born on January 12, 1964, in Albuquerque, New Mexico. His real name is Jeffrey Preston Bezos and his birth name is Jeffrey Preston Jorgensen. After finding Amazon, he became one of the richest men in the world. Soon after Jeffrey’s birth, his father left them, and his mother Jacklyn Gise wed Miguel Bezos, a Cuban, in 1968. Jeffrey then took on his father’s last name. Bezos studied primary school in Texas and then the family moved to Miami where he spent his childhood. As a teenager, he created an alarm system, a solar-powered toaster, and an automatic locking mechanism in his garage. After completing his studies in electrical engineering and programming at Princeton University, he was employed in the financial industry of New York very soon. A statistic he saw one afternoon in 1994 altered his course in life. The Internet market was expanding at a rate of 2,300% annually. He made the decision the following day to persuade his supervisor that he had never witnessed any industry develop at such rates. The next day, he decided to persuade his supervisor that he was going to launch an online bookstore. So, Bezos quit the job in a few weeks. In 1993, Jeff Bezos wed MacKenzie Scott. They had 4 children, including a daughter adopted from China. In 2019, the couple filed for divorce, attracting media interest. At present, Bezos is romantically involved with Lauren Sánchez, a prominent figure in American media who has held positions as a news anchor and entertainment reporter.

Beginnings of Amazon

Bezos wanted an online store with millions of books, something that traditional bookstores could never have. Despite there being a 70% chance they would lose all of their money, he managed to convince their parents to invest in the business. Bezos raised $300,000 with loans from his personal bank account and investments from his parents. Upon holding over fifty meetings with local private investors, he successfully secured $1 million in funding. The initial name Jeff Bezos suggested for his online store was Cadabra.com. The business was established on July 5, 1994. Bezos changed the company’s name to Amazon.com in 1995 because he thought it was simpler to spell and easier to remember. Moreover, the website would rank higher in searches made by internet users because it began with the letter A. Back in the early 1990s, web pages were arranged alphabetically. The business generated $147 million in revenue by 1997 and went public for $18 per share. More specifically, the company raised approximately $54 million when it went public on May 15, 1997, and by year’s end, the price of the shares had increased by 233%. Over the years, Amazon has bought several businesses, such as Zappos (2009), Twitch (2014), and Whole Foods Market (2017). It increased the range of online services it provided, adding video streaming (Amazon Prime Video), cloud storage (Amazon S3), and web hosting (Amazon Web Services). Years by year, Amazon reached a peak where this is right now.

Blue Origin

Blue Origin is also owned by Jeff Bezos. Blue Origin is a space project to build the first lunar base and send a manned spacecraft back to the moon using the Blue Moon capsule. Blue Moon is a flexible lander that delivers a wide variety of small, medium and large payloads to the lunar surface. Its capacity to make accurate and seamless landings, whether carrying cargo or personnel, would allow for a prolonged human presence on the Moon. In July 2021, Bezos, Wally Funk, Oliver Daemen, and his brother Mark took a suborbital flight on the New Shepard spacecraft. The journey took roughly ten or eleven minutes, and the altitude attained was roughly 107 km.

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