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Jeff Bezos Wiki, Biography, Net Worth, Wife, House, Amazon CEO

Jeffrey Preston Bezos is an American internet and aerospace entrepreneur, media proprietor, and investor. He is best known as the founder, CEO, and president of Amazon.com, Inc. Bezos was born in Albuquerque, New Mexico, and raised in Houston, Texas.

Posted: Nov. 21, 2019

Jeff Bezos - CEO and Founder, Amazon

Born: Jeffrey Preston Jorgensen

January 12, 1964 (age 55) - Albuquerque, New Mexico, U.S.

Residence: Medina, Washington, U.S. - New York City, New York, U.S.

Education:

  • BS in Electrical Engineering and Computer Science,
  • Princeton University

Occupation:

  • Businessman
  • Investor
  • Philanthropist

Years active: 1986–present

Known for: Founding Amazon and Blue Origin

Net worth: US$111.4 billion (November 2019)

Title: CEO and President of Amazon

Spouse(s): MacKenzie Tuttle

(m. 1993; div. 2019)

Children: 4

  • Jeff Bezos founded e-commerce company Amazon in 1994 out of his garage in Seattle. He remains CEO and owns a nearly 12% stake.
  • He divorced his wife MacKenzie in July 2019 after 25 years of marriage and transferred one quarter of his Amazon stake to her.
  • MacKenzie Bezos's 4% slice of Amazon makes her one of the world's richest women.
  • In 2018, Amazon had $230 billion in revenues and a record $10 billion in net profit, up from $3 billion the prior year.
  • In February, Amazon announced it was canceling plans for a second headquarters in Long Island City, New York after local lawmakers opposed the plan.
  • Bezos owns The Washington Post and Blue Origin, an aerospace company that is developing a rocket for commercial use.

JeffBezos / WIKI:

Jeffrey Preston "Jeff" Bezos (born January 12, 1964) is the founder of Amazon.com. He is also the chairman, president, and Chief Executive Officer (CEO) of Amazon.com . Bezos graduated at Princeton University as a under the Tau Beta Pi Association, was hired at D. E. Shaw & Co. as a financial analyst for before founding Amazon.com in 1994. He is the second richest man in the world as of November 2019 with a net worth of almost US$ 103.7 billion.

When markets opened on July 27, 2017, Bezos briefly became the world's richest person, surpassing Bill Gates with a net worth of just over $90 billion. He lost the title later in the day when Amazon's stock dropped, returning him to second place with a net worth just below $90 billion. On October 27, 2017, Bezos again surpassed Gates on the Forbes list as the richest person in the world.

Early Background Life:

After Bezos graduated from Princeton University in 1986, he was offered jobs at Intel, Bell Labs, and Andersen Consulting, among others. He first worked at Fitel, a fintech telecommunications start-up, where he was tasked with building a network for international trade.

Bezos was promoted to head of development and director of customer service thereafter. He transitioned into the banking industry when he became a product manager at Bankers Trust; he worked there from 1988 to 1990.

He then joined D. E. Shaw & Co, a newly founded hedge fund with a strong emphasis on mathematical modelling, in 1990 and worked there until 1994. Bezos became D. E. Shaw's fourth senior vice-president at the age of 30.

Amazon

In late 1993, Bezos decided to establish an online bookstore. He left his job at D. E. Shaw and founded Amazon in his garage on July 5, 1994, after writing its business plan on a cross-country drive from New York to Seattle.

Bezos initially named his new company Cadabra but later changed the name to Amazon after the Amazon River in South America, in part because the name begins with the letter A, which is at the beginning of the alphabet. He accepted an estimated $300,000 from his parents and invested in Amazon. He warned many early investors that there was a 70% chance that Amazon would fail or go bankrupt.

Although Amazon was originally an online bookstore, Bezos had always planned to expand to other products. Three years after Bezos founded Amazon, he took it public with an initial public offering (IPO). In response to critical reports from Fortune and Barron's, Bezos maintained that the growth of the Internet would overtake competition from larger book retailers such as Borders and Barnes & Noble.


More In Details:

Jeff Bezos' mom, Jackie, was a teenager when she had him in January 1964. She had recently married Cuban immigrant Mike Bezos, who adopted Jeff. Jeff didn't learn that Mike wasn't his real father until he was 10 but says he was more fazed about learning he needed to get glasses than he was about the news.

Source: Wired

When Bezos was 4, his mother told his biological father, who previously had worked as a circus performer, to stay out of their lives. When Brad Stone interviewed Bezos' father for Stone's book "The Everything Store".

Source: The Everything Store

Bezos showed signs of brilliance from an early age. When he was a toddler, he took apart his crib with a screwdriver, because he wanted to sleep in a real bed.

Source: The Everything Store

From ages 4 to 16, Bezos spent summers on his grandparents' ranch in Texas, doing things like repairing windmills and castrating bulls.

Source: The Everything Store

His grandfather, Preston Gise, was a huge inspiration for Bezos and helped kindle his passion for intellectual pursuits. At a commencement address in 2010, Bezos said Gise taught him "it's harder to be kind than clever."

Source: Business Insider

Bezos fell in love with reruns of the original "Star Trek" and became a fan of later versions too. Early on, he considered naming Amazon MakeItSo.com in reference to a line from Captain Jean-Luc Picard.

Source: The Everything Store

In school, Bezos told teachers "the future of mankind is not on this planet." As a kid, he wanted to be a space entrepreneur. Now he owns a space-exploration company called Blue Origin.

Source: Wired

After spending a miserable summer working at McDonald's as a teen, Bezos, together with his girlfriend, started the Dream Institute, a 10-day summer camp for kids. They charged $600 a kid but managed to sign up six students. The "Lord of the Rings" series made the required reading list.

Source: Wired

Bezos eventually went to college at Princeton and majored in computer science. Upon graduation, he turned down job offers from Intel and Bell Labs to join a startup called Fitel.

Source: The Everything Store

Meanwhile, Bezos took ballroom dancing classes as part of a scheme to increase his "women flow." Just as Wall Streeters have a process for increasing their "deal flow," Bezos thought analytically about meeting women.

Source: The Everything Store

He married MacKenzie Tuttle, a D.E. Shaw research associate, in 1993. She's now a novelist.

Source: The Everything Store

In 1994, Bezos read that the web had grown 2,300% in one year. This number astounded him, and he decided he needed to find some way to take advantage of its rapid growth. He made a list of 20 possible products to sell online and decided books were the best option.

Source: The Everything Store

And so Amazon was born. MacKenzie and Jeff flew to Texas to borrow a car from his father, and then they drove to Seattle. Bezos was making revenue projections in the passenger seat the whole way, though the couple did stop to watch the sunrise at the Grand Canyon.

Source: The Everything Store

Bezos started Amazon.com in a garage with a potbelly stove. He held most of his meetings at the neighborhood Barnes & Noble.

Source: Wired

In the first month of its launch, Amazon sold books to people in all 50 states and in 45 different countries. And it continued to grow. Amazon went public on May 15, 1997.

Source: Business Insider

When the dot-com crash came, analysts called the company "Amazon.bomb." But it weathered the storm and ended up being one of the few startups that wasn't wiped out by the dot-com bust.

Amazon shares have continued to go up since the crash (until the recent market correction). It has now gone beyond selling books to offering almost everything you can imagine, including appliances, clothing and even cloud computing services.

Jeff Bezos was a demanding boss and could explode at employees. Rumor has it he hired a leadership coach to help him tone it down.

Here are some of the strategies Bezos used in building his Amazon empire.

Bezos is known for banning PowerPoint presentations at Amazon. Instead he requires his staff to turn in six-page papers on their proposals to encourage critical thinking over simplistic bullet points.

Pens and paper with the Amazon logo are seen at the logistics center in Brieselang, Germany November 17, 2015.

Source: The Everything Store

Bezos is also known for creating a frugal company culture that doesn't offer perks like free food or massages.

In 1998, Bezos became an early investor in Google. He invested $250,000, which was worth about 3.3 million shares when the company went public in 2004. Those would be worth about $2.2 billion today. (Bezos hasn't said whether he kept any of his stock after the initial public offering.)

Source: All Things D

Bezos has also donated $42 million and part of his land in Texas to the construction of The Clock Of The Long Now, an underground timepiece designed to work for 10,000 years.

Source: Business Insider

In August 2013, Bezos bought The Washington Post for $250 million.

Source: The Washington Post

His space company Blue Origin made history last year when it became one of the first commercial companies to successfully launch a reusable rocket.

Source: Business Insider

Bezos' interest in flying has gotten him into trouble in the past. In 2003, Bezos almost died in a helicopter crash in the Texas boondocks while scouting a site for a test-launch facility for Blue Origin.

Source: CNN

But in early 2016, he flew his personal jet to Germany to pick up and bring home the Washington Post reporter who had been detained by Iran.

Source: Business Insider

Bezos is said to own a 5.35-acre estate on Seattle's Lake Washington that includes 200 yards of shoreline.

An Amazon-branded Boeing 767 freighter, nicknamed Amazon One, flies over Lake Washington.

Source: Curbed Seattle

He also bought a seven-bedroom, $24.5 million mansion in Beverly Hills in 2007. There's a greenhouse, tennis court, pool, and guest house on the property, and it neighbors Tom Cruise's estate.

Source: Forbes

In January 2017, Bezos bought the Textile Museum, a pair of mansions in Washington, D.C.'s Kalorama neighborhood. The property sold for $23 million and is the largest in Washington.

Source: The Washington Post

Bezos also owns three linked apartments totaling 10,000 square feet in New York City's Century Tower.

Source: Forbes

Exactly 20 years after going public, Amazon has a market cap of $457 billion. Barclays predicted Amazon could be the first trillion-dollar company.

Source: Markets Insider


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