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Jeff Bezos

Jeff Bezos

 

EARLY LIFE

 

  • Bezos was born Jeffrey Preston Jorgensen on January 12, 1964, in Albuquerque, New Mexico, the son of Jacklyn Gise Jorgensen and Ted Jorgensen.
  • At the time of his birth, his mother was a 17-year-old high school student, and his father was a bike shop owner.After Jacklyn divorced Ted, she married Cuban immigrant Miguel “Mike” Bezos in April 1968.
  • The family moved to Houston, Texas, where Mike worked as an engineer. Bezos attended River Oaks Elementary School in Houston from fourth to sixth grade. It was during high school that he started his first business, the Dream Institute, an educational summer camp for fourth, fifth and sixth graders.
EARLY LIFE

 

  • As a child, Jeff Bezos showed an early interest in how things work, turning his parents’ garage into a laboratory and rigging electrical contraptions around his house.
  • The family moved to Miami, Florida, where Bezos attended Miami Palmetto High School. While Bezos was in high school, he worked at McDonald’s as a shortorder line cook during the breakfast shift.
CAREER

 

  • Bezos pursued his interest in computers at Princeton University, where he graduated summa cum laude in 1986 with a degree in computer science and electrical engineering.
  • After graduation, he found work at several firms on Wall Street, including Fitel, Bankers Trust and the investment firm D.E. Shaw.
  • Bezos became D. E. Shaw’s fourth senior vice-president at the age of 30.
AMAZON

 

  • In late 1993, Bezos decided to start an online bookstore. 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 trip from New York to Seattle.
  • After inviting 300 friends to beta test the site, Bezos opened Amazon.com, named after the meandering South American river, on July 16, 1995.
  • The initial success of the company was meteoric. With no press promotion, Amazon.com sold books across the United States and in 45 foreign countries within 30 days. In two months, sales reached $20,000 a week, growing faster than Bezos and his startup team had envisioned.
AMAZON

 

  • Bezos initially named his new company Cadabra but later changed the name to Amazon after the Amazon River in South America.
  • Three years after Bezos founded Amazon, he took it public with an initial public offering (IPO). In 1998, Bezos diversified into the online sale of music and video; by the end of the year, he had also expanded the company’s products to include a variety of consumer goods
 AMAZON

 

  • In 2002, Bezos led Amazon to launch Amazon Web Services, which compiled data from weather channels.
  • In 2000, Bezos borrowed $2 billion from banks, as its cash balances dipped to only $350 million. After the company nearly went bankrupt, he closed distribution centers and laid off 14% of the Amazon workforce.
  • In 2003, Amazon rebounded from financial instability and turned a profit of $400 million. In November 2007, Bezos launched the Amazon Kindle
 INDIA
  • Amazon flourished with yearly sales that jumped from $510,000 in 1995 to over $17 billion in 2011.
  • On February 1, 2018, Amazon reported its highest ever profit with quarterly earnings of $2 billion. Due to the growth of Alibaba in China, Bezos has often expressed interest in expanding Amazon into India.
  • In March 2018, Bezos dispatched Amit Agarwal, Amazon’s global senior vice president, to India with $5.5 billion to localize operations throughout the company’s supply chain routes
VENTURES

 

  • Bezos announced his investment in Blue Origin in 2007 a Seattle-based aerospace company that develops technologies to offer space travel to paying customers.
  • Bezos made headlines worldwide on August 5, 2013, when he purchased The Washington Post and other publications affiliated with its parent company, The Washington Post Co., for $250 million.
  • In early December 2013, Bezos made headlines when he revealed a new, experimental initiative by Amazon, called “Amazon Prime Air,” using drones to provide delivery services to customers
LEADER

 

  • 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.
  • He meets with Amazon investors for a total of only six hours a year. Instead of using PowerPoints Bezos requires high-level employees to present information with six-page narratives.
  • Bezos maintains the email address “jeff@amazon.com” as an outlet for customers to reach out to him and the company
WEALTH

 

  • In October 2016, his wealth increased by $16.2 billion to $66.5 billion unofficially ranking him the third richest person in the world behind Warren Buffett.
  • On March 6, 2018, Bezos was officially designated the wealthiest person in the world with a registered net worth of $112 billion. He unseated Bill Gates ($90 billion) who was $6 billion ahead of Warren Buffett ($84 billion), ranked third.
  • On July 17, 2018 he was designated the “wealthiest person in modern history” by the Bloomberg Billionaires Index,Fortune, MarketWatch, The Wall Street Journal, and Forbes.