Jeff Bezos net worth in 2019. How did the richest man in the world ‘Jeff Bezos’ attain such a net worth? Read on to find out his impressive secrets behind his salary, earnings, investment, and how Bezos attained such heights.
|Net worth||$164.9 billion|
|Source of wealth||Amazon, Blue Origin|
|Date of Birth||January 12, 1964|
If you have ever bought something on popular online store Amazon or used any of its services then you should know that Jeff Bezos owns it. Jeff Bezos is an American entrepreneur, investor, technologist and philanthropist best known for starting up the popular online sales company Amazon and a host of other companies which he actively manages.
Jeff Bezos whose birth name is Jeffrey Preston Jorgensen was born on January 12, 1964, in Albuquerque, New Mexico to Jacklyn Gise Jorgensen. His surname was changed from Jorgensen to Bezos after he was adopted by his stepfather Miguel Mike Bezos in 1968. After Mike’s graduation from the University of New Mexico, he got a job as an engineer in Exxon which led to the entire family moving to Houston, Texas.
Jeff started his education at River Oaks Elementary school, Texas. He displayed interest in science and technology as a child and would mostly tamper with some computerized gadgets. The family later moved to Miami, Florida where he attended the prestigious Miami Palmetto High school. As a student at palmetto, he worked and also attended science training at the University of Florida. After High school, he went on to study at Princeton University where he obtained degrees in electrical engineering and computer science in 1986.
After graduation, he got a job at Fitel a telecommunications company where he should employ his computer skills. He was so good at his job that he got promoted twice. Finally, he decided to leave the Telecom sector and venture into the banking sector and worked at Bankers Trust for a period of three years before moving to a hedge fund firm D. E. Shaw where he worked for four years before resigning to start up Amazon in 1994.
In the middle of 1994, he started Amazon with personal funds and a $300,000 investment from his parents. In the beginning, Bezos believed that amazon may soon go bankrupt but still persevered. Amazon started out as an online book store and diversified to the sale of music, videos and certain consumer goods in 1998. After going public in 1997, the company raised $54 million which Bezos used to acquire his major small competitors. The company later decided to diversify into web services and currently owns Alexa a subsidiary of Amazon.
In 2013, Amazon became the largest online retail shop in the world and also received a contract worth $600 million from the Central Intelligence Agency (CIA). From 2016-2017, Bezos sold more than two million of his shares for over $1.5 billion. The company’s value has been on the rise as they employed over 130,000 workers in 2008. As of 2019, Amazon’s market value is reportedly between $760 billion and $1 trillion.
Apart from Amazon, Bezos due to his love for space started a human space flight company Blue Origin in 2000. It was relatively unknown until when it acquired a large expanse of land to build its facility in West Texas. In 2015, blue origin began development of its space vehicle named New Shepard which was finally was launched in 2017 as it transported dummy passengers to space. Bezos had planned to monopolize the space system and have been investing $1 billion yearly to achieve such a feat. According to Bezos, he invests in space as the earth is been destroyed by man and plans to build houses there.
How did Jeff Bezos amass such wealth?
Jeff Bezos is worth over $165 billion though it is set to reduce by $38 billion due to his divorce settlement with his ex-wife MacKenzie Tuttle even that won’t affect him much as he will still maintain his position as the richest man in the world.
Most of Jeff’s wealth comes from his shares in Amazon and also from his other companies Blue Origin and The Washington Post. Together with his ex-wife, they own more land than anyone in the United States.
He owns a $56million jet and also has an investment in Google, Uber and Airbnb.
in 2009 he purchased Zappos an online shoe retailer for $1.2 billion. and in 2017 he bought whole foods an online food retail store for $13.7 billion.
Bezos also bought over The Washington Post in 2013 for $250 million and has transformed it to more of a technology and analytics firm. After years of investment, it began making a profit in 2016.
in February 2018, he invested 17.5 billion in web cloud computing business. and as of July 19, 2019, Jeff Bezos net worth is estimated $164.9 billion.
Awards and Recognition
- -1982: Silver Knight Winner
- -1999: Time Person of the Year
- -2012: Businessperson of the Year by Fortunes
- -2016: USIBC Global Leadership Award
- -2018: Buzz Aldrin Space Exploration Award
- -2018: Germany’s 2018 Axel Springer Award for Business Innovation and Social Responsibility
“A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.” – Jeff Bezos
“Life’s too short to hang out with people who aren’t resourceful.” – Jeff Bezos
“What we need to do is always lean into the future; when the world changes around you and when it changes against you – what used to be a tailwind is now a headwind – you have to lean into that and figure out what to do because complaining isn’t a strategy.” – Jeff Bezos
“There are two kinds of companies, those that work to try to charge more and those that work to charge less. We will be second.”- Jeff Bezos
“If you don’t understand the details of your business you are going to fail.” – Jeff Bezos
“If your customer base is ageing with you, then eventually you are going to become obsolete or irrelevant. You need to be constantly figuring out who are your new customers and what are you doing to stay forever young.”- Jeff Bezos
Also Read: Michael Jordan Net Worth
Below is a video of an interview where he talks about ‘growing up and secrets to success’