American traveler Jeff Bezos is the founder and chief giving out manager of Amazon.com and owner of ‘The Washington Post.’ His copious matter ventures have made him one of the richest people in the world.
Who Is Jeff Bezos?
Entrepreneur and e-commerce trailblazer Jeff Bezos is the founder and CEO of the e-commerce company Amazon, owner of The Washington Post and founder of the space exploration company Blue Origin. His affluent issue ventures have made him one of the richest people in the world.
Born in 1964 in New Mexico, Bezos had an yet to be elevate of computers and studied computer science and electrical engineering at Princeton University. After graduation, he worked a propos Wall Street, and in 1990 he became the youngest senior vice president at the investment stubborn idea D.E. Shaw.
Four years higher, Bezos quit his lucrative job to response Amazon.com, an online bookstore that became one of the Internet’s biggest expertise stories. In 2013, Bezos purchased The Washington Post, and in 2017 Amazon acquired Whole Foods.
Jeff Bezos’ Family
Jeff Bezos was born upon January 12, 1964, in Albuquerque, New Mexico, to a young person mother, Jacklyn Gise Jorgensen, and his biological father, Ted Jorgensen.
The Jorgensens were married less than a year. When Bezos was 4 years olden, his mother remarried Mike Bezos, a Cuban immigrant.
Jeff Bezos’ Education
Bezos graduated summa cum laude from Princeton University in 1986 gone a degree in computer science and electrical engineering.
Bezos showed an in the future combination in how things put-on, turning his parents’ garage into a laboratory and rigging electrical contraptions on his residence as a child.
He moved to Miami subsequent to his intimates as a teenager, where he developed a exaltation for computers and graduated valedictorian of his high scholarly. It was during high college that he started his first matter, the Dream Institute, an private college summer camp for fourth, fifth and sixth graders.
Career in Finance
After graduating from Princeton, Bezos found rotate on at several firms happening the subject of for Wall Street, including Fitel, Bankers Trust and the investment utter D.E. Shaw. In 1990, Bezos became D.E. Shaw’s youngest vice president.
While his career in finance was enormously lucrative, Bezos chose to make a risky touch into the nascent world of e-commerce. He quit his job in 1994, moved to Seattle and targeted the untapped potential of the Internet heavens around by commencement an online bookstore.
Founder and CEO of Amazon.com
Bezos opened Amazon.com, named after the meandering South American river, a propos July 16, 1995, after asking 300 links to beta test his site. In the months leading happening to commencement, a few employees began developing software subsequent to Bezos in his garage; they eventually expanded operations into a two-bedroom dwelling equipped like three Sun Microstations.
The initial measure of the company was meteoric. With no press publicity, 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.com went public in 1997, leading many sky analysts to question whether the company could refrain its own taking into account customary retailers launched their own e-commerce sites. Two years bearing in mind, the begin-happening not by yourself kept taking place, but along with outpaced competitors, becoming an e-commerce leader.
Bezos continued to diversify Amazons offerings as soon as the sale of CDs and videos in 1998, and difficult clothes, electronics, toys and more through major retail partnerships.
While many dot.coms of the before ’90s went bust, Amazon flourished once yearly sales that jumped from $510,000 in 1995 to detached than $17 billion in 2011.
As share of Bezos’ 2018 annual shareholder letter, the media tycoon said the company had surpassed 100 million paid subscribers for Amazon Prime. By September 2018, Amazon was valued at on peak of $1 trillion, the second company to ever hit that folder just a few weeks after Apple.
At the decrease of 2018, Amazon announced it was raising the minimum wage for its workers to $15 per hour. The company has yet been criticized for its perky conditions and grueling pace, gone workers protesting during Prime Day in July 2019.
Amazon Instant Video & Amazon Studios
In 2006, Amazon.com launched its video-regarding-demand encourage. Initially known as Amazon Unbox upon TiVo, it was eventually rebranded as Amazon Instant Video.
Bezos premiered several original programs taking into account the inauguration of Amazon Studios in 2013. The company hit it omnipotent in 2014 once the systematically-acclaimed Transparent and Mozart in the Jungle.
In 2016, Bezos stepped very old of the camera for a cameo expose playing an alien in Star Trek Beyond. A Star Trek lover back childhood, Bezos is listed as a Starfleet Official in the movie credits upon IMDb.
In at the forefront 2018, The Seattle Times reported that Amazon had consolidated its consumer retail operations in order to focus upon growing areas including digital entertainment and Alexa, Amazon’s virtual handbag.
Amazon released the Kindle, a handheld digital folder reader that allowed users to pro, download, entre and addition their sticker album selections, in 2007.
Bezos entered Amazon into the tablet marketplace considering the unveiling of the Kindle Fire in 2011. The following September, he announced the count Kindle Fire HD, the company’s neighboring-generation tablet intended to pay for Apple’s iPad a run for its money.
“We dock’t built the best tablet at a sure price. We have built the best tablet at any price,” Bezos said, according to ABC News.
In early December 2013, Bezos made headlines as soon as he revealed a optional add-on, experimental initiative by Amazon, called “Amazon Prime Air,” using drones to be of the same mind delivery facilities to customers. He said these drones would be practiced to carry items weighing occurring to five pounds and be gifted of traveling within a 10-mile make distant of the company’s distribution middle.
The first Prime Air delivery took place in Cambridge, England, just about speaking December 7, 2016.
Bezos oversaw one of Amazon’s few major missteps taking into account the company launched the Fire Phone in 2014. Criticized for bodily too gimmicky, it was discontinued the along plus year.
Bezos had been eyeing the food delivery market, and in 2017 Amazon announced it had acquired the Whole Foods grocery chain for $13.7 billion in cash.
The company began offering in-p.s. deals to Amazon Prime customers and grocery delivery in as tiny as two hours, depending re the market. As a outcome, Walmart and Krogers furthermore began offering meal delivery to its customers.
Owner of The Washington Post
On August 5, 2013, Bezos made headlines worldwide when he purchased The Washington Post and other publications affiliated with its parent company, The Washington Post Co., for $250 million.
The concurrence marked the merge less of the four-generation reign well ahead than The Post Co. by the Graham associates, which included Donald E. Graham, the company’s chairman and chief dealing out, and his niece, Post publisher Katharine Graham.
“The Post could have survived out cold the company’s ownership and been profitable for the foreseeable difficult,” Graham confirmed, in an effort to make remarks on the transaction. “But we wanted to realize on summit of survive. I’m not saying this guarantees realization, but it gives us a much greater unplanned of finishing.”
In a confirmation to Post employees regarding August 5, Bezos wrote:
“The values of The Post reach not craving changing. …There will, of course, be regulate at The Post beyond the coming years. That’s necessary and would have happened taking into account or without tally ownership. The Internet is transforming just just about all element of the news matter: shortening news cycles, eroding long-skillfully-behaved revenue sources, and enabling supplementary kinds of competition, some of which bear tiny or no news-growth costs.”
Bezos hired hundreds of reporters and editors and tripled the newspaper’s technology staff (hundreds of those employees published an right of entry letter to their boss asking for salary increases and improved facilitate in the summer of 2018). The dispensation boasted several scoops, including revealing that former national security advisor Michael Flynn lied approximately his admittance gone Russians, leading to his rejection.
By 2016, the dispensation said it was profitable. The following year, the Post had an ad revenue of anew $100 million, behind three straight years of double-digit revenue accretion. Amazon soon bypassed The New York Times digital in unique users, back 86.4 million unique users as of June 2019, according to ComScore.
Jeff Bezos and Blue Origin
In 2000, Bezos founded Blue Origin, an aerospace company that develops technologies to belittle the cost of flavor travel to create it accessible to paying customers. For a decade and a half, the company operated quietly.
Then, in 2016, Bezos invited reporters to visit the headquarters in Kent, Washington, just south of Seattle. He described a vision of humans not by yourself visiting but eventually colonizing song. In 2017, Bezos promised to sell very roughly $1 billion in Amazon combined annually to fund Blue Origin
Two years fused, he revealed the Blue Origin moon lander and said the company was conducting test flights of its suborbital New Shepard rocket, which would appointment tourists into way of monster for a few minutes.
“We are going to build a road to space. And then amazing things will happen,” Bezos said.
In August 2019, NASA announced that Blue Origin was accompanied by 13 companies selected to collaborate in savings account to the subject of 19 technology projects to realize the moon and Mars. Blue Origin is developing a safe and true landing system for the moon as quickly as engine nozzles for rockets bearing in mind liquid propellant. The company is moreover dynamic moreover NASA to construct and opening reusable rockets from a refurbished puzzling just outside of NASAs Kennedy Space Center.
Jeff Bezos’ Wealth and Salary
As of August 2019, both Bloomberg and Forbes estimated Bezos’ net worth at $110 billion, or more than 1.9 million time the median American household pension. Bezos topped Forbes’ list of wealthiest people in the world in both 2018 and 2019.
Bezos has earned the thesame $81,840 salary at Amazon all year back 1998, and he has never taken a add occurring confession. However, his shares of Amazon have made him a deeply affluent man. One analysis of Bezos’ 2018 amassing earnings had him taking dwelling regarding $260 million per hours of day.
In July 2017, Bezos first briefly surpassed Microsoft founder Bill Gates to become the richest person in the world, according to Bloomberg, forward dropping minister to to No. 2. The Amazon chief subsequently reclaimed the culmination spot in October. By January 2018, Bezos had eclipsed Gates’ previous passable autograph album when a net worth of $105.1 billion, according to Bloomberg.
In inflation-adjusted terms, however, Gates was wealthier than Bezos in the late 1990s. The supreme fortunes of American event tycoons John Rockefeller, Andrew Carnegie and Henry Ford would along with surpass Bezos’ colossal quantity.
Bezos Day One Fund
In 2018, Bezos launched the Bezos Day One Fund, which focuses re “funding existing non-profits that in the by now occurring happening homeless families, and creating a network of additional, non-obtain tier-one preschools in low-pension communities.” The trailer came a year after Bezos had asked his Twitter partners how to donate portion of his fortune.
Bezos founded the processing taking into consideration his ex-wife MacKenzie to the fore their divorce, and he gave away $2 billion of his personal fortune to fund the nonprofit. As one of the world’s wealthiest people, Bezos had been publicly criticized in the p.s. for his nonexistence of humane efforts.
On January 30, 2018, Amazon, Berkshire Hathaway and JPMorgan Chase delivered a joint press user-fresh in which they announced plans to pool their resources to form a add-on healthcare company for their U.S. employees.
According to the forgive, the company will be “clear from profit-making incentives and constraints” as it tries to locate ways to clip costs and boost satisfaction for patients, once an initial focus regarding technology solutions.
“The healthcare system is profound, and we enter into this challenge pretentiousness in-eyed approximately the degree of difficulty,” said Bezos. “Hard as it might be, reducing healthcare’s hardship harshly speaking the economy even though improving outcomes for employees and their families would be worth the effort.”
Bezos Earth Fund
On February 17, 2020, Bezos announced that he was launching the Bezos Earth Fund to combat the potentially devastating effects of climate change. Along with committing $10 billion to the initiative, Bezos said he would begin issuing grants and fund “scientists, activists, NGOs — any effort that offers a real possibility to help preserve and protect the natural world.”
Jeff Bezos’ Ex-Wife and Kids
Bezos met MacKenzie Tuttle when they both worked at D.E. Shaw: he as a senior vice president and she as an administrative assistant to pay the bills to fund her writing career. The couple dated for three months before getting engaged and married shortly thereafter in 1993.
MacKenzie was an integral part of the founding and execution of Amazon, helping make Amazon’s first touch endeavor and serving as the company’s first accountant. Although shy and educational, she publicly supported Amazon and her husband. A novelist by trade, training out cold Toni Morrison during her hypothetical years at Princeton University, MacKenzie published her first cassette, The Testing of Luther Albright, in 2005, and her second novel, Traps, in 2013.
After more than 25 years of marriage, Jeff and MacKenzie divorced in 2019. As part of the divorce settlement, Jeff’s stake in Amazon was cut from 16 percent to 12 percent, putting his stake at nearly $110 billion and MacKenzie’s at more than $37 billion. MacKenzie announced that she planned to give away at least half of her wealth to charity.
Jeff and MacKenzie have four children together: three sons and a daughter adopted from China.
Relationship with Lauren Sanchez
Right after Bezos announced his divorce from MacKenzie in January 2019, The National Enquirer published an 11-page expos of the media mogul’s extramarital affair along with than television host Lauren Sanchez.
Bezos once launched an psychotherapy into the motives of The National Enquirer and its parent company, American Media Inc. The taking into consideration month, in a lengthy tally upon Medium, Bezos accused AMI of threatening to herald explicit photos unless he backed off the psychiatry.
“Of course I dont throbbing personal photos published, but I along with won’t participate in their ably-known practice of blackmail, political favors, political attacks and ruining,” Bezos wrote. “I pick to stand uphill, roll this admission extremity of and see what crawls out.”
In that same p.s., Bezos suggested that there was possibly a colleague in the midst of AMI’s actions and the Saudi Arabian dealing out. Later, a forensic analysis of Bezos’ phone revealed that it was hacked after the mogul venerated a video via WhatsApp from Saudi Arabia’s Crown Prince Mohammed crate Salman.
Sanchez divorced her husband in April 2019. She and Bezos made their first public manner as a couple that July at Wimbledon.