In the year 2021, Jeff Bezos is the second-richest individual on Earth as of late 2021, with his personal fortune exceeding the sums accumulated by Microsoft Corp. co-founder Bill Gates and the legendary investment guru Warren Buffett. As per the Bloomberg Billionaires Index, Bezos has an estimated net amount of $197.8 million at the time of writing. Also Check: USD to PKR
The company’s founder, who was also the Chief Executive Officer (CEO) and currently the executive chair of the global online retail giant Amazon was in charge of running an online platform that was responsible for 9 percent of the total U.S. retail sales, and 51.2 percent of the online retail sales in 2020.
Digitalization is changing the way we behave while cloud computing revolutionizes human behavior, and the cloud computing revolution is doing the same for businesses The top-ranked company in online retail, through its cloud computing platform, which is soaring in popularity Amazon Web Services (AWS) is expected to rise, bringing more positive news for its creator.
When Bezos was conceived of the idea for his own e-commerce business and his boss was well-intentioned, he tried to convince him of his job at D. E. Shaw & Co. However, Bezos was born to his mom, a teen, and then his Cuban immigrant stepfather has always wanted to create something new even telling his teachers that “the future of humanity is not here on earth. Also Check: Gold Rate in Pakistan
Bezos even has a website, BezosExpeditions.com, that provides a rundown of more than 30 of his major investments, projects, and philanthropic endeavors. The title “expeditions” is fitting since Bezos his investments aren’t focused on the same or two industries, or even market segments but rather on the vast exploration of different areas of business and concepts, such as robotics, cloud computing biotechnology, as well as glass that is made at home.
Amazon: Beyond Books
The tech-savvy visionary has graduated from Princeton having earned degrees in electrical and computer science engineering. After graduation in 1999, he turned down offers from companies like Intel as well as Bell Labs to join a company called Fitel.
The founder of Fitel later founded a company that provided news-by-fax services along with Halsey Minor, who was the co-founder of CNET. When that venture fell apart, Bezos made him the youngest vice-president at the hedge fund named D. E. Shaw and worked his way up the ranks in only four years.
Bezos could have stayed in Wall Street for the rest of his career if he had not been fascinated by the realization that in 1994 it was clear that the Internet was expanding by 2300 percent annually. 6 Soon enough, the idea to create Amazon was born and the company’s future CEO started creating a list of 20 categories of products that could be sold online.
Amazon.com which was originally a platform to sell books was established in its early days from a garage that had an oven. Bezos was the one who put his own money of $10,000 into the company that included him together with his wife and two programmers, and was the one who held his meetings at the local Barnes & Noble. 8. In the first month following its launch on July 15, 1995, Amazon was selling books across each U.S. state and 45 countries across the globe. Also Check: Euro to PKR
In the first year that Amazon was founded, Bezos tried to raise money by predicting $74million in sales in 2000. He was far from the actual figures: $1.64 billion in sales in the year 1999. 10 11 He was able to collect $1 million of initial funding via the angel investor by utilizing funds from his family, primarily his parents who gave a substantial part of their savings over the course of their lives.
The first 20 investors who invested in Amazon invested around $50,000 for stakes that were rounded up to one percent. Each investment could be valued at around $16.71 billion, or approximately 334,200-times investment, considering that investors held their entire stakes, and they were not diluted by investors who later joined. 12 In June 1996, Amazon raised another $8 million in Series A from venture capital firm Kleiner Perkins.
Amazon was first listed in May 1997 and proved to be among the very few companies that made it through the dot-com bubble. The platform expanded its offerings and established its position as an industry leader and pioneer in its industry, sales soared up from just $511,000 at the time of its launch, to more than three billion dollars in the year 2001. In 2013 Bezos disclosed the plans of the company’s innovative Amazon Prime subscription business, which would include Amazon Prime Air, which will make use of drones to deliver deliveries to customers.
in 1998 Bezos began investing in Google. Although he’s not yet revealed the percentage of Google’s shares he holds following its first public sale in the year 2004 his investment of $250,000 could be worth billions in the present.
In August of 2013, Bezos bought TheWashingtonPost for $250 million. 17 A few years later the purchase, its traffic, and audience have exploded, exceeding The New York Times for the first time in U.S. unique web viewers in October of 2015.
The price of Amazon’s shares reflects its incredible growth. The price increased by over 450% between January 2016 and January 2021. It also increased by more than 75% between January 2020 and January 2021 all by itself.
19 Bezos holds around 11 percent of Amazon by 2021, which makes the company the biggest asset he has. 20 From 2017 until 2019 Bezos was able to sell more than a million shares, and transferred further shares to his ex-wife in the divorce process. The company’s annual meeting for 2021 announcement revealed Bezos has over 70 million shares. Also Check: Pound to PKR
Amazon boasted $386 billion of net sales during the fiscal year 2020.
Bezos also holds substantial stakes in traditional investments, like real estate. The 165,000-acre Corn Ranch located in Texas was purchased to serve as the headquarters for his aerospace firm, Blue Origin, and is used as a test site for the suborbital vertical-landing manned New Shepard rocket.
The private property includes holdings on both the East as well as the West coasts. Bezos has two-million-dollar houses located in Beverly Hills and a 10,000-square-foot apartment in the Century Tower in Manhattan that costs him less than $10 million.
Bezos’ New York presence has been reported to have helped boost Century Tower property values even higher, as the apartments are now selling at a price of $2,000-$3,000 each square foot. Bezos also owns a lakefront property located in Washington state, and he invested $28 million in order to expand the living area to nearly 3000 square feet.
The year 2012 was the time that Amazon acquired its South Lake Union headquarters building in Seattle for $1.5 billion, which made Amazon one of the largest commercial property owners in the city.
Amazon acquired nearly 12 buildings, nearly 2,500,000 square feet of offices as well as around 100,000 square feet of space for retail. In August of 2017, The Seattle Times stated that Amazon owned as many workspaces in Seattle as its top largest 40 employers.