Many know the name Jeff Bezos, the founder of Amazon. You know Amazon, that little website where you can buy everything under the sun. Yes, Jeff Bezos founded that company. As of February 2020, Jezz Bezos' net worth is $123.9 billion, making him the richest man in the world.
That's right, Amazon that we know and love today didn't start as an e-commerce giant. Amazon began in 1994 when Jeff Bezos founded the company, and it began as an online book store. While the company didn't blow up overnight, as of 2020, Amazon is now the largest online retailer, by revenue. It is the largest web company and the largest artificial intelligence company in the world. In true start-up fashion, Amazon started in Bezos' garage and was launched as an online book retailer. Bezos received a whopping $300,000 investment from his parents to launch the company. Knowing how fast the Internet was going to grow in the early 90s, Bezos' original business plan included selling more than just books, but he had to begin somewhere. Today, Amazon's annual revenue is over $280 billion. There are also many entities under the Amazon umbrella, including Whole Foods supermarket and Twitch, the successful online gaming streaming service.
Move Over Musk
In the year 2000, Bezos founded a company Blue Origin which specializes in the opportunity of human spaceflight, similar to Elon Musk's company SpaceX. After the founding of the company in 2000, there wasn't much action or news about the business venture until 2006 when the company purchased a large piece of land for a test facility. Bezos has spoken freely about the possibility of colonizing the earth's solar system, and the company has undergone many tests with dummy passengers to make this happen. Bezos also estimates that a passenger space flight will eventually cost anywhere between $200,000 and $300,000.
Other Business Ventures
It's no wonder Bezos is the richest man in the world as he is constantly participating in many different business ventures. For instance, he bought the Washington Post in cash, a deal worth a whopping $250 million. That's no big deal for Bezos! Bezos also has an investment company where he's constantly investing in multiple business ventures, including Google, where he invested over $200,000 in the late 90s, his Google stock is estimated to be worth over $3 billion as of 2019.
Breaking Down His Wealth
It may be difficult for many just to realize, or visualize, just how rich Bezos is. According to Business Insider, Bezos makes $2,489 a second. Business Insider also shared the fact that for every dollar an average American spends, Bezos is spending $1.3 million. Also, according to the social security administration, the every day American with an education will make about $2.2 million in their lifetime, Bezos makes the same amount in 15 minutes.
How Rich Is Jeff Bezos?
Jeff Bezos has a net worth of $123.9 billion.
Your MLA Citation
Your APA Citation
Your Chicago Citation
Your Harvard CitationRemember to italicize the title of this article in your Harvard citation.