Jeff Bezos, the founder and CEO of Amazon, is the only person on the planet with a net worth of more than $200 billion. He is the world’s richest man, and his e-commerce platform, Amazon, is the most valuable firm on the planet. In the world of e-commerce, there is currently no other company that can compete with Amazon.
The success of Amazon, on the other hand, is quite inspiring. Jeff was born in the state of New Mexico on the 12th of January, 1964. He also talked about his idea of establishing a colony in space in his high school graduation speech. In 1986, he graduated from Princeton University with a bachelor’s degree in electrical engineering. In the beginning of his career, Jeff worked for many companies.
He worked in the field of computer technology on Wall Street before going on to work for Fitel, where he built an international business network. Bezos transformed his fortune permanently after working for various companies and opening an online book store with only three computers. Bezos founded Amazon in a garage in 1994, and at the time, he simply sold old books. The Amazon website was launched in July 1995 as a result of this. His website began as an online bookstore, but soon expanded to include DVDs, software, electronics, and clothing. Amazon sold books in 50 US states and 45 other countries in its first month.
The company had to go through a lot of ups and downs in the beginning, and it also had to deal with a lot of losses. According to an Amazon estimate, the company had more than 1.5 million clients in more than 150 countries by the end of 1997, nearly two years later. In 1995, the company made a loss of Rs 0.96 crore on a revenue of Rs 1.64 crore. In the year 2000, Amazon made a loss of Rs 0.96 crore on revenue of Rs 11,868 crore. However, in 2005, the company began to make a profit, which continued to grow day by day until it reached its current profit level.
Amazon went public in 1997 and became the world’s wealthiest person before the age of 35, with a market capitalization of $ 200 billion today.
Apart from Amazon, Jeff Bezos also owns The Washington Post, which is one of America’s largest newspapers. Jeff paid around $ 230 million for this 141-year-old media company. Jeff Bezos was named “Person of the Year” and “King of Cyber Commerce” by Time magazine in 1999. The fact that Bezos was the fourth youth to earn the prize at the age of 35 is extraordinary.
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Jeff Bezos’ personal life was also full of ups and downs, and he made headlines when he was caught having an affair. Amazon has now established distinct shopping websites for a number of nations. It also ships some of its products internationally to foreign countries, and over 100 million individuals have signed up for Amazon Prime. Because of the coronavirus epidemic, demand for Amazon’s services grew considerably in 2020, making it the finest year yet for Jeff. The company’s stock has increased by 80% since the beginning of the year.
It’s also worth noting that Bezos’ total holdings were roughly 115 billion dollars as of January 1. Despite the ongoing coronavirus pandemic, Amazon CEO Jeff Bezos’ wealth is rapidly expanding, thanks to his and his staff’ tireless efforts around the world.