How Jeff Bezos Make it Big | Success story
In Today’s Blog we will talk about the Journey of Jeff Bezos, an American technology investor, entrepreneur and philanthropist born on January 12, 1964. He is the President, CEO, and Founder of E-commerce giant Amazon. What make him World’s richest man and how he made Amazon an E-Commerce Giant.
After Passing college Bezos Start working in finance realm with Bankers Trust, where he rose to vice president. Later he started working at investment firm D.E. Shaw which is specialized in the application of computer sciences to the stock market. At D.E. Shaw, Jeff met his wife MacKenzie. Jeff married MacKenzie Bezos in 1993.And soon in 1990 Bezos became the youngest senior vice president in the company’s history.
Inception of Amazon
In late 1993, Bezos decided to start an online bookstore and quit D.E. Shaw in 1994 and founded Amazon in his garage on July 5, 1994. Then decided to moved to Seattle to tap into the potentials of the internet market by opening an online bookstore. Bezos named his new company Amazon.
During the 1990s, Jeff Bezos earned the reputation for tenaciously pushing Amazon forward. Bezos’s projected a public image of prudence with his own wealth and that of Amazon.
in 1997 Bezos first became a millionaire after raising $54 million through Amazon’s IPO . He was included on Forbes The World’s Billionaires list in 1999 with a registered net worth of $10.1 billion. A year later Bezos net worth decreased to 40.5% i.e $6.1 billion. Jeff Bezos’s wealth drop even more in the same year, i.e 66.6% to $2.0 billion. He lost Around $500 million in the following year, which bring his net worth down to $1.5 billion. But In the same year He is capable to Increased his net worth by 104% to $2.5 billion.
Jeff Bezos featured as the “Person of the Year” on the cover of Time magazine 1999.
By the start of 2000s companies are Struggling for internet pennies that’s where Bezos saw the need of diversity, and by 2005 Amazon offered a vast varieties of products, including consumer electronics, apparel, and hardware. That’s not enough Amazon take its diversifying game to next level by introducing Amazon Web Services (AWS), a cloud-computing service that eventually became the largest such service in the world in 2006.
In late 2007 Amazon launched a new Reading device called the Kindle, a digital book reader with wireless Internet connectivity, which give access to customers to Read, purchase, download and store a vast selection of books on demand.
On August 5, 2013, Bezos purchased The Washington Post for $250 million. For sale purposes, he established Nash Holdings, a limited liability holding company that legally owns the paper.
Bezos makes personal investments through Bezos Expeditions, venture capital vehicle. Bezos invested $250,000 in 1998 and become one of the first shareholders in Google, he. That $250,000 investment resulted in 3.3 million shares of Google stock, worth about $3.1 billion in 2017.
On March 6, 2018, Bezos was officially Become the wealthiest person in the world with a registered net worth of $112 billion By defeating Bill Gates with $90 billion net worth and Warren Buffett with $84 billion.
Here’s a wrap..hope you Enjoyed and inspired THANKS!!