What is Jeff Bezos net worth?
|Jeff Bezos Net Worth:||$172 Billion|
|Born:||January 12, 1964|
|Country of Origin:||United States|
|Source of Wealth:||Business and Investments|
|Martial Status||Divorced at the moment|
Jeff Bezos is the richest man in the world and in the United States, right now!
It’s amazing to talk about one of the most renowned entrepreneur and businessmen the world has ever known. Talking about Jeff Bezos’s net worth is quite going to be intriguing.
Though Jeff Bezos’ annual salary is only $81,840, most of his wealth comes from his Amazon shares.
The world’s richest man makes $2,489 per second, or more than twice what the median US worker makes in one week, according to Business Insider’s calculations.
He is about $40 billion richer than the next persons on the list of top 20 richest people in the world – Bernard Arnault.
Jeff Bezos is an American internet entrepreneur, media proprietor, industrialist, and investor. He is the founder and CEO of the multinational technology company, Amazon, an online merchant of books.
He has successfully made Amazon to become the largest retailer on the World Wide Web and the model for Internet sales.
It is interesting to know that Jeff Bezos quit his lucrative job to open Amazon.com, which turned out to be one of the internet’s biggest success stories.
His successful business ventures have indeed made him to be one of the richest people in the whole world.
As of 2020, Jeff Bezos net worth is estimated to be $172 Billion dollars based on Bloomberg figures, ranking couple billions dollars more than Bill Gates, and Warren Buffett.
This article brings to your knowledge Jeff Bezos worth, early life, career, other notable achievements, and life lessons.
Jeff Bezos, by full name of Jeffrey Preston Bezos, was born on 12th January, 1964, in Albuquerque, New Mexico, United States of America, to Ted Jorgensen and his mother, Jacklyn Gise Jorgensen.
At an early age, he had showed interest in some electrical connections and had turned his parents’ garage into a laboratory.
His family moved to Miami where he developed a love for computer. During his days in high school, he had developed the Dream Institute which is known to be an educational summer camp for fourth, fifth and sixth graders.
He graduated from Princeton University in 1986 with a degree in electrical engineering and computer science.
After his graduation from Princeton University, he undertook a series of jobs before joining the New York investment bank in 1990.
Jeff Bezos married his ex-wife, Mackenzie Turtle in 1993. He met her at D.E Shaw when was the vice president and she was an administrative assistant. They have four children together: three sons and a daughter adopted from China. They got divorced in 2019.
After Jeff Bezos graduated from Princeton University in 1986, he found several jobs at Intel, Bell Labs, Andersen Consulting, and many others.
He first worked at Fitel, a fintech telecommunications company, where he was offered to build a network for international trade.
He was later transitioned into the banking industry when he became a product manager at Bankers Trust, he worked there from 1988 to 1990.
Later that year, he joined D.E. Shaw & Co, a newly-founded hedge fund with a strong emphasis on mathematical modelling and worked there until 1994. He became D.E Shaw’s youngest senior vice president at the age of 30.
After some years, Jeff Bezos quit his lucrative job and moved to Seattle, Washington.
He chose to make a risky move into the world of e-commerce. He opened a virtual online bookstore, Amazon.com, and then began developing the software for the site.
The bookstore was named after the Amazon River in South America, and sold its first book in July 1995. If he hadn’t taken that move, we wouldn’t have been talking about Jeff Bezos net worth today.
In no time, Amazon became the leader in the world of e-commerce. Although Amazon was originally an online bookstore, Jeff Bezos had always planned to expand to other products.
The initial success of the company was astonishing as it started selling books across the United States and in 45 other foreign countries within a month.
In two months, sales reached $20,000 a week growing faster than larger book retailers such as Borders and Barnes & Noble.
In 1998, Amazon.com diversified into the online sale of CDs and video and did not only depend on books and later got expanded into the sale of clothes, electronics, toys and other retail partnerships.
This made Jeff Bezos’s net worth increase drastically as the company’s product expanded by a variety of other consumer goods.
Jeff Bezos had had interest in space travel and the development of human life in the solar system and then founded Blue Origin, a human spaceflight startup company in September 2000.
Also in 2000, he got a loan of $2 billion from banks and in 2002, he led Amazon to launch Amazon Web Services which compiled data from weather channels and website traffic.
In 2002, Amazon went bankrupt when revenues stagnated as a result of rapid spending, he then closed distribution centers and laid off 14% of the Amazon workforce.
Amazon got back to its feet with a profit of $400 million in 2003. In November 2007, Jeff Bezos launched the Amazon Kindle.
Amazon flourished with yearly sales that jumped from $510,000 in 1995 to over $17 billion in 2011.
In 2013, Jeff Bezos secured a $600 million contract with the Central Intelligence Agency (CIA) on behalf of Amazon Web Services. Later that year, in October, Amazon was recognized as the world’s largest online shopping retailer.
On August 5, 2013, he announced his purchase of The Washington Post for $250 million in cash.
The Amazon success flourished yearly as Jeff Bezos continued to sell a million shares of his holdings in the company for millions of dollars.
In 2017, he recruited 130,000 new employees to his company’s distribution centers.
By January 2018, his Amazon stock holdings had appreciated to over $109 billion, which made him to sell stock to raise his other enterprises especially, Blue Origin.
On 1st February, 2018, Amazon recorded its highest ever profit with quarterly earnings of $2 billion.
On 6th March 2018, he was formally designated by Forbes as the world’s wealthiest person over Bill Gates, with a net worth of $112 billion.
In February 2020, Jeff Bezos net worth has increased tremendously due to a high demand from households on lockdown shopping on Amazon during the COVID-19 pandemic.
Apart from these businesses, Jeff Bezos has quite a number of assets. His Real Estate includes two homes in Beverly Hills, a converted former textile museum in Washington, D.C., a Texas ranch, and two homes in Medina, Washington.
He also owns a Gulfstream G650ER jet which has a range of 7,500 nautical miles and can seat up to 19 people, or sleep up to 10, and come with handcrafted seats.
These assets are worth billions of dollars adding to Jeff Bezos net worth as he also owns stakes in dozens of other companies. Some of which are: AirBnB, Basecamp, Convoy, D-Wave, Twitter, Uber and many others.
Rumors have it that Jeff Bezos invested in Bitcoin, one of the top ten most important Cryptocurrencies in the world, in June 2020, his twitter account, coupled with many high profile investors was hacked.
Jeff Bezos Net Worth and Highlights
As of 2020, Jeff Bezos net worth is estimated to be roughly $172 Billion dollars based on Bloomberg estimates.
Below are the highlights that have contributed greatly to Jeff Bezos net worth:
- Bezos received his first major award in 1999 when Time Magazine named him Person of the Year.
- He was selected by U.S News & World Report as one of America’s best leaders
- he was awarded an honorary doctorate in science and technology from Carnegie Mellon University in 2008.
- The Economist gave Bezos and Gregg Zehr an Innovation Award for the Amazon Kindle in 2011.
- He was named Businessperson of the Year by Fortune in 2012.
- He was ranked the Best-performing CEO in the World by Harvard Business Review in 2014.
- He featured in Fortune’s list of 50 great leaders of the world for three consecutive years, topping the list in 2015.
- Bezos received a $250,000 prize in September 2016, for winning the Heinlein Prize for Advances in Space Commercialization, which he donated to the Students for the Exploration and Development of Space.
- He received The James Smithson Bicentennial medal 2016.
- Bezos was elected to the National Academy of Engineering for “leadership and innovation in space exploration, autonomous systems, and building a commercial pathway for human space flight”.
- He was awarded the Buzz Aldrin Space Exploration Award at the Explorers Club in recognition of his work with Blue Origin in March 2018.
- He received Germany’s 2018 Axel Springer Award for Business Innovation and Social Responsibility.
- Time Magazine named him one of the 100 most influential people in the world in their 2018 listing.
In one of the motivational Jeff Bezos quotes, he said; “If you only do things where you know the answer in advance, your company goes away“ – Jeff Bezos.
Frequently Asked Questions About Jeff Bezos
Quick Faqs about Jeff Bezos
When was Jeff Bezos born?
He was born on January 12, 1964
Is Jeff Bezos Married?
Currently, Jeff Bezos is not married. He got divorced with MacKenzie Bezos (m. 1993–2019)
How much does Jeff Bezos make every second?
Based on estimates from Business Insider, Jeff Bezos makes $2,495 per second, and makes 215,048,493 every day.
Does Jeff Bezos get a salary?
Yes, Jeff Bezos’ annual salary is only $81,840, most of his wealth comes from his Amazon shares.
What kind of car does Jeff Bezos drive?
According to the book “The Everything Store,” Bezos was still driving a Honda Accord as recently as 2013. That said, Bezos does own a $65 million Gulfstream G650ER private jet.
Great Life Lessons From Jeff Bezos
Here are our favorite life lessons from Jeff Bezos
According to Bezos, “Passion is key”. Passion is what helps you to achieve your aim at its best. Without it, you won’t put forth your best effort, there will be less energy and little or no success.
If you’re so passionate about succeeding, you will attack it at the highest level of your energy and that will take your performance and leadership to the next level.
Take Responsibility For Your Choices
Where you are today is a result of the choices you took yesterday. What you do with the gifts and challenges you have now, determines the result it will produce tomorrow.
Bezos’s parents divorced when he was young, he could have this challenge to define him, but he didn’t. He made it his strength. Today, one of his choices turned out to be the best.
Get Out of Your Comfort Zone
Bezos saw the need to leave his well-paid job and establish himself, then he founded Amazon.
As a vice president working at a Wall Street hedge fund, having a stable job, a life less risky, and performing interesting work, he left his comfort zone for the untested waters of the internet to start a business of selling books online.
Many would have been satisfied with what they call job security, but he did the opposite. He turned out to be one of the most successful entrepreneurial in recent time.
That’s not all, here are more Inspirational life lessons from Jeff Bezos that will inspire you to achieve your dreams.
Summary of Jeff Bezos Net Worth
It is of no doubt that Jeff Bezos net worth is one of the highest in the whole world, with a huge number of businesses and establishments, he has made it to the Forbes list of world’s richest people.
As of Today, bezos is worth $172 Billion dollars, and no doubts, his achievement is worth emulating and the first step to success is to take risks.
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