Amazon founder Jeff Bezos is the richest man of our time
Who is now the richest man in the world? You’d be surprised it wasn’t Bill Gates. The creator of Microsoft was the leader in the list of billionaires 18 times over the past 24 years. But in 2018, he lost the title. Now at the top of the most enviable ranking with a decent margin is Amazon founder Jeff Bezos. Moreover, he became the first centi-billionaire, that is, a man whose capital exceeded $100 000 000 000.
As a guy who in childhood was fond of repair techniques, has created a giant Internet retailers and earn incredible position? Let us describe in detail.
Childhood and early career of Jeff Bezos
Jeff Bezos (born Jorgensen) was born on 12 January 1964. When he was 4 years old, his parents divorced. Soon his mother married an immigrant from Colombia Miguel Bezos. He adopted little Jeff and gave him his last name.
The future billionaire spent his childhood and youth with a screwdriver in his hands. Jeff liked to repair, assemble and disassemble equipment. Soon stepfather gave him the garage, where the guy continued his experiments. Solar foil battery, alarm clock from the door lock and even a mini-combine are only a part of Bezos inventions.
While parents were studying and working at the same time, their son was left to his own devices. At the same time, Jeff graduated from school with honors and entered Princeton University without any problems. Of course, at the Department of electronic measuring instruments and Informatics of Faculty of physics. He graduated the University with diploma with honors and began to think about his future career.
During his studies Bezos realized that not only he is well versed in technology. Therefore, the young man decided to move towards computer technology. In the late 80’s this niche was just beginning its way to the title of the main industry. But Jeff knew that soon the demand for specialists in this area will be high.
Rapid career and creation of own company
Despite the fact that academic success of Bezos opened doors to all companies, he began his career in the financial startup Fitel. Having worked there for 2 years, he went to Bankers Trust, and then to the investment company D.E.Shaw. Four years later, Jeff became its Senior Vice President.
But the interest in the rapidly developing Internet technologies did not leave the young specialist. He wanted to create something new – a virtual empire that the world had not seen yet.
It was established on a quiet spring evening in 1994. Sitting in his office, Bezos was sorting out a product in his head that could show itself in online sales. Drugs, cars and computers were elected due to difficulties with licenses and guarantees.
The decision came suddenly. Jeff’s wife, an aspiring writer, called her husband on family business. The truth suddenly burst upon him. Books are so simple. They do not need to be touched, checked, tested. That is, the buyer can do without contact with the goods. So a physical store is not needed. Tens of thousands of books on virtual shelves — the real thing.
Soon the entrepreneur was quit D.E. Shaw, visited the Congress of leaders of book business of America, agreed with the people and engaged in the creation of the company. His parents helped him by investing all their savings (about $300,000) in son’s business.
In July 1994, the name Amazon was created. A little later in the rented house and its garage they equipped an office. The accounting Department was taken by the wife of Jeff, Shela Kapan was hired as an programmer. Soon he will come up with cookies.
After a year website Amazon.com started.
Amazon founder Jeff Bezos is a visionary of e-commerce
A month after its launch, Bezos company supplied goods throughout the United States. Weekly revenue reached more than $20,000.
The advantage of Amazon was cheap books. The fact is that in those days in the States the goods were not taxed if the seller did not have a physical point of sale. Therefore, the prices for books in Amazon were much lower than those of competitors.
Amazon’s innovations have played a role in the company’s success. Stylish and convenient site, the ability to buy in one click, the function of reviews and order confirmation via e-mail — now familiar to us online shopping services first introduced by Bezos.
The company has been actively developing, survived the collapse of dot-coms (the collapse of business shares, working on the Internet), introduced new products (CD, toys, electrical goods), and in 1997 held a successful IPO. Amazon founder Jeff Bezos became a billionaire, and in 1999 was on the cover of TIME magazine as the person of the year and the locomotive of the Internet sales industry.
What is the creation of Bezos today
Amazon in the XXI century is an international corporation with branches on all continents, which sells everything. Revenue for the second quarter of 2018 exceeds $2 000 000 000, and the total market capitalization of over one trillion dollars. Only Apple and Amazon have obeyed this achievement.
Amazon founder Jeff Bezos, in addition to the retail giant, also owns The Washington Post and the space company Blue Origin, a competitor of SpaceX by Elon Musk. The position of the businessman, according to experts, is $ 150 000 000 000.