After Amazon.com released the latest earnings report on Friday, October 27th, its stock soared so high that Jeff Bezos increased his net worth by $6 billion. That made him the richest person on the planet with a reported net worth of 93.5 billion dollars- 3 billion ahead of Microsoft founder Bill Gates.
This isn’t the first time that Jeff Bezos becomes the world’s richest man. On July 27, Amazon’s share price rose to $1,050, and Bezos overtook Bill Gates momentarily, yet, by the end of the day, Amazon’s stock slipped placing Bezos back to #2 behind Gates.
With a net worth of $88 billion, Warren Buffett is third in the latest rankings. Hie’s followed fourth by Amancio Ortega with a $77.2 billion fortune, and fifth by Mark Zuckerberg with $75.4 billion.
Jeff Bezos’ Journey
Jeffrey Preston Jorgensen was born on January 12, 1964. His biological dad, Ted Jorgensen, and his mother Jacklyn Gise divorced when Jeff was only 17 months old. When Jeff was 4, he was adopted by Miguel Bezos, a Cuban that arrived in Miami in 1962.
Jeff always proved to be a smart kid with a high drive. He got straight As in high school, and he was the valedictorian of his class. He was also accepted by early admission to Princeton.
When Jeff was 30 and working in finance in New York City, he realized that internet usage was growing at 2,300 percent per year. He then had the idea of building an online bookstore with millions of titles.
“AFTER MUCH CONSIDERATION, I TOOK THE LESS SAFE PATH TO FOLLOW MY PASSION AND I’M PROUD OF THAT CHOICE.” -Jeff Bezos, founder of Amazon, Blue Origin
In 1994, Jeff Bezos left his job in NYC and went on to create Amazon.com out of his garage. Twelve months later, Amazon started selling books in all states.
In the year 2000, the dot com bubble affected all online businesses. Amazon.com was no exception. However, in February 2005, the company introduced Amazon Prime subscription, which offered shoppers free 2-day shipping. Amazon prime was so successful that it is today the most important pillar of Amazon’s business.
Two years later, in 2007, Amazon.com went into the tech business, manufacturing devices such as the Kindle and the Echo.
Amazon is Not The Only Business Jeff Bezos Has
In September 2000, Jeff Bezos founded Blue Origin; a spaceflight services company. And in 2013, he bought the Washington Post for $250 million.
It is clear that Jeff Bezos wants to expand into every market he can, and he is surely not intimidated by anyone or anything.