No doubt, technology companies have a major impact on people’s lives. Everything is now faster due to the use of the latest methods and inventions. Amazon is one of the leading companies which makes it easy for people to buy quality goods from qualified suppliers. Jeff Bezos is the executive chairman and also founder of Amazon company. So the question is what is the net worth of Jeff Bezos? As of Jan 2024, Jeff Bezos net worth is $118 billion. Let’s discuss how he built his wealth and how he is a billionaire entrepreneur.
Jeff is one of the top 10 richest people on earth and was a former president of Amazon company. He is also the CEO, founder and chief executive of Amazon. He is well known American entrepreneur who is also an investor, computer engineer, media owner, businessman and crew member of a spacecraft.
He was the richest person in the world in 2017, 2018, 2019, 2020 and 2021. But now in 2022, Elon Musk is leading him. According to Bloomberg, Amazon has generated a revenue of $470 million in just 2021. He is generating wealth by selling home goods, books, electronics and more by using the Amazon website.
Jeff has 2 higher educational degrees including computer science and electrical engineering. He was raised in Miami and Houston but was born in New Mexico state. He started his career by working with Wall Street in 1986 but left the job in 1994. In the same year, he founded Amazon which is an eCommerce store for selling and purchasing products online.
Jeff Preston Bezos was an entrepreneur and social media influencer who was born on January 12, 1964. He was born in Albuquerque which is a famous city in New Mexico state and also abbreviated as ABQ. His father Theodore Jørgensen belonged to Denmark but was born in Chicago US. His mother Jacklyn was just 19 years old when Jeff was born.
His mother admitted him to a Montessori school when he was 2 years old. After the divorce ho his parents, his mother married a Cuban immigrant named Mike. After a few years, Mike adopted Jeff but his name was changed from Jorgensen to Bezos officially.
After moving to Texas, Jeff attended 4th to 6th-grade classes at River Oaks Elementary School. Jeff spent many years with his maternal grandfather who was a regional director in the US Atomic Energy Commission. Lawrance was his maternal grandfather who lived on a ranch near Cotulla, Texas. Jeff later purchased this ranch and expanded it to 300000 acres. His first interest was an electrical alarm that would be used to keep his siblings out of his room.
Jeff also worked as a line cook at McDonald’s while studying in high school. Later time, he earned his graduate degree with a 4.2 GPA. He also did his B.S.E in electrical engineering and computer degree.
After completing Bezos’s bachelor’s degree, several companies invited him for a job including Fitel, Bell Labs and Intel. He chose Fiter company which is related to telecommunication. Suddenly he was raised as the head of customer service. Later, he became a product manager at Bankers Trust company. After it, he became a vice president of D.E Shaw company.
The Washington Post
No doubt, it is a very famous American magazine and newspaper published in Washington D.C. Jeff purchased The Washington Post for $250 million on August 5, 2013. The purpose behind the purchase was to do marketing of Amazon and increase overall sales.
He also faces some criticism for using this newspaper for his business. At later times, he reinvents the newspaper as digital media and redesigns its analytical software, website and mobile applications. After the reinventions, the newspaper appeared as a profitable organization after 3 years of purchase by Jeff.
Jeff is also a founder of Blue Origin LLC, a popular American spaceflight and aerospace manufacturer. It was founded on September 8, 2000, and the reason behind this project was the manufacturing of space vehicles. These spaceflights will be used for traveling toward space in the future to see what happens in the orbit system.
Bezos wants to offer space traveling services to the public at a low cost. The company purchased a large area to test and launch its space missions. Unfortunately, in 2011, the first test flight crashed which caught the attention of the public. Jeff discussed the possibility of having commercial flights in space with Richard Branson and Elon Musk.
Finally, the New Shepard was launched successfully and completed a distance of 100.5 KM and reverted to the Texas launching site. Later, Jeff announced selling $1 billion shares of Amazon to strong Blue Origin and starting commercial flights regularly. He announced that he would charge between $200000 to $300000 per human. Finally, NS-16 was launched on July 20, 2021, with 5 persons including Jeff’s brother Mark.
Every one of us is aware of Amazon which is an eCommerce store. It was founded by Jeff Bezos on July 5, 1994. The sellers can sell their products on Amazon whereas the purchasers or customers can buy things from this e-commerce store. Jeff started it as an online book store at the start but later time, the store had almost every home appliance, household and book.
It was named Cadabra but later time, it was renamed Amazon which is a river in South America. As the river is the largest Jeff wanted to make this store the world’s largest one. Jeff was gifted $300,000 from his parents to invest in Amazon. Bezos also introduced Amazon Web Services (AWS) which is a cloud computing-based online service for consumers and companies.
In October 2013, Amazon was selected as the world’s largest online shopping store. In the same year, the CIA made an agreement with Amazon worth $600 million for the use of Amazon Web Services. In May 2016, $671 million was added to Jeff Bezos net worth after selling one million shares of Amazon. He sold a lot of shares again and earned $756 million. In July 2017, Jeff beat Bill Gates and became the wealthiest person on the earth.
Jeff Bezos Net Worth 2024 and Sources
According to Forbes, he was listed as the richest man in modern history. In 2018, Jeff Bezos net worth reached $150 billion. Almost 2 years later, Jeff Bezos net worth exceeded $200 billion even during the lockdown. In a short month, his wealth was grown up to $24 billion during the pandemic. As of Jan 2024, Jeff Bezos net worth is $118 billion.
Jeff had a super custom yacht worth $500,000,000 which is rewarded as the largest yacht in the world. He purchased a luxurious apartment worth $16 million at Madison Square Park. Unfortunately, in 2019, Jeff Bezos net worth was drowned badly due to a divorce from his wife Mackenzie Bezos.
- Multiple Billion Projects: Jeff has started work on multiple projects including Blue Origin, The Washington Post, Amazon and more. These projects are multi-billion projects with powerful existence in public. The shares are also high and investors are always looking forward to purchasing shares quickly.
- Technology is the Future: Bezos has an interest in telecommunication and computing so he started an e-commerce store and enhanced it for the future. Suddenly, after a few years, his store became popular among the public so they purchased regular items through this service. All of this happened because Jeff Bezos knows technology is the future. This is a big idea to aid Jeff Bezos net worth in the future.
- Buying and Selling: Jeff invented this term through Amazon which recognized people to buy or sell things online. This model is now famous everywhere but the basic idea came from Jeff. So always find the missing things in business and fulfill those missing things to be an entrepreneur.