All About Jeff Bezos and Amazon

Jeff Bezos, aka the richest man on earth, came up with monster that is certainly amazon, one of many largest technology companies on the planet. Bezos is a household name, but does one even know the place that the CEO’s surname actually originated from? Find out this backstory plus much more in Ladders’ complete Jeff Bezos profile.

Where is Jeff Bezos from?

Bezos was given birth to on January 12, 1964, in Albuquerque, New Mexico. At birth he was named Jeffrey Preston Jorgensen. After his mother divorced his father, she married Cuban immigrant Miguel “Mike” Bezos in April 1968. At age four, Miguel Bezos adopted him with his fantastic surname was then changed to Bezos. The family then moved to Houston, Texas. In high school, the household transferred to Miami, Florida.

What is Jeff Bezos’s net worth* over the years?
September 2014: $30.5 billion

March 2015: $34.8 billion

September 2015: $47 billion

March 2016: $45.2 billion

October 2016: $67 billion

March 2017: $72.8 billion

October 2017: $81.5 billion

March 2018: $112 billion

October 2018: $160 billion

March 2019: $131 billion

*According to Forbes

What is Jeff Bezos’s net worth in 2019?
Forbes last reported Jeff Bezos’s net worth to be $115.4 billion in August 2019.

When did Jeff Bezos reach millionaire/billionaire status?
Bezos became a millionaire in 1997 after he raised $54 million through Amazon’s initial public offering. Bezos hit billionaire status two years later in 1999 at 35-years-old. The value in the CEO’s Amazon shares sent him from millionaire to billionaire status.

He was included for the Forbes World’s Billionaires list with a registered net worth of $10.1 billion. The next year Bezos’s net worth plummeted to $6.1 billion, and $2 billion one year later. Bezos quadrupled his net worth from 2005 to 2007, bringing it to $8.7 billion, but was hurt through the financial meltdown and economic decline. His net worth dropped to $6.8 billion, but rose to $12.6 billion really. In 2015 Bezos landed himself on the list of top ten richest people on the globe with a total net worth of $50.3 billion.

On March 6, 2018, Bezos officially took over as the richest person on the globe which has a net worth of $112 billion.

Jeff Bezos’s career path
Fitel

After graduating from Princeton in 1988, Bezos had job offers from Intel, Bell Labs, and Anderson Consulting. Bezos turned those into start at fintech telecommunications start-up Fitel.

Bankers Trust

In 1988 Bezos transitioned in to the banking industry, learning to be a product manager at Bankers Trust.

D. E. Shaw & Co.

In 1990 Bezos left Bankers Trust to sign up a newly founded hedge fund, D. E. Shaw & Co. At 30-years-old, Bezos took over as the hedge fund’s fourth senior vice-president. Bezos worked here until 1994, when he left to begin Amazon after writing the business plan over a excursion from New York to Seattle.

amazon
Mike Mareen / Shutterstock
Bezos drew up the Amazon business strategy plan with a excursion from New York to Seattle. In 1993, he left his job at D.E. Shaw to get started on Amazon from his garage. He received nearly $300,000 to invest in Amazon from his parents. He originally titled the company Cadabra, but changed it to mention it following the Amazon River. Bezos warned early investors that there would have been a 70% chance who’s would fail.

Bezos founded Amazon just as one online bookstore, but always planned to be expanded with other products. In 1998, the website expanded to provide music, videos, as well as other consumer goods. In 2002, Bezos led the company to file for Amazon Web Services, which compiled data from weather channels and online traffic. The company nearly went bankrupt in 2002, nonetheless it rebounded in 2003 after distribution center closures and workforce layoffs. Amazon launched the Kindle in November 2007.

AmazonFresh is often a subsidiary which allows Prime members to order groceries online and you can keep them delivered right after the same day. Amazon acquired Whole Foods for $13.7 billion in August 2017, furthering its reach in the grocery industry.

Read our Amazon profile to understand more about one of many world’s most effective brands, based on Forbes.