Successful entrepreneurs build their wealth after identifying the best opportunities. They know how to generate wealth in various ways that make them billionaires. Jeff Bezos is the second richest person in the world because he started his life as an ordinary employee. He later became a businessman and established a wealthy empire through hard work and technical skills. Knowing Jeff Bezos net worth allows individuals to learn more things and motivate them in life. Moreover, those who want to accomplish their goals in their careers can follow in the footsteps of Jeff Bezos, which helps them attain top positions.
Who is Jeff Bezos?
Jeff Bezos is the founder, CEO, and executive chairman of the leading online store Amazon, which sells various goods and services to customers. The store offers e-commerce and other technology services, which earned it one of the most popular brands in the world.
He worked in various companies that let him gain more knowledge before starting his online business. Jeff runs an aerospace company called “Blue Origin” and invested his money in different sectors. Aside from that, he supports various philanthropic activities and lives a lavish lifestyle.
The Early Life of Jeff Bezos
Jeffery Preston Jorgensen is an American citizen who was born in Albuquerque, New Mexico State, on 12 January 1964. His mother, Jacklyn, was just 17 years old when she gave birth to Jeff. Jorgensen, who is the father of Jeff, owned a bike shop. However, Jeff’s mother divorced Jorgensen when he was 2 years old and attended Montessori school in Albuquerque.
Jacklyn married a Cuban immigrant named Miguel “Mike” Bezos, and Jeff was 4 years old at that time. He adopted Jeff and changed his last name Jorgensen to Bezos. His family moved to Houston, Texas, where Mike got an engineering job at Exxon after completing his degree from the University of New Mexico.
Jeff’s grandparents, who are also Jacklyn’s parents, owned a cattle ranch of 25,000 acres near Cotulla, Texas, where Jeff would spend his many summers with them, and he would expand the ranch from 25,000 acres to 30,000 acres.
Education and care for Jeff Bezos
Jeff’s family relocated to Miami, Florida, when he was entering high school. While studying in school, Jeff developed his interest in science and technology. During the breakfast shift in school, he worked as a short-order cook at McDonald’s. Bezos attended Princeton University after graduating from high school in 1982.
Although Jeff planned to study physics, he later shifted his focus because of his love for computers. He gave up on his ideas of becoming a theoretical physicist when he failed to solve a mathematical problem and earned a Bachelor of Science degree in Engineering (BSE) with a 4.2 GPA in 1986. Jeff started his first business while studying at school and launched the dream institute. It aimed at organizing summer camps for students in the 4th, 5th, and 6th grades.
What is Jeff Bezos net worth?
Bezos is a businessman and space explorer who earns money from his online store Amazon and other sources. What is Jeff Bezos net worth? He has a net worth of $210 million and first surpassed the net worth of Bill Gates in 2017. Jeff owns 55 million shares of Amazon and held 80 million shares during his peak.
Amazon’s stock rates began to rise in late 2014, and Jeff Bezos net worth was $50 billion in July 2015. Jezz’s net worth doubled after two years, and he became the wealthiest person on the planet. The market cap of Amazon topped $1 trillion in September 2018 before his divorce from Mackenzie Bezos. He transferred Amazon’s 19.7 million shares to his wife after the divorce settlement, which reduced Jeff Bezos net worth from $150 billion to $114 billion temporarily.
Apart from Amazon, he founded Amazon Web Services (AWS), which offers on-demand cloud computing platforms and API (application programming interface) services. The company earned a substantial income that allowed him to become a billionaire.
Some of the subsidiary companies of AWS include Annapurna Labs, AWS Elements, Wickr, NICE Software, etc. He is also the co-founder of Atlas Labs and purchased the famous newspaper “The Washington Post” for $250 million. It is a leading online newspaper that covers news for subscribers under various categories.
Jeff invested his money in Google company shares and in the health sector, such as Unity Biotechnology, Zocdoc, Juno Therapeutics, GRAIL, Haven, etc. Besides, he invested in several real estate properties that added his wealth.
How much money does Jeff Bezos have?
Jeff Bezos earnings come from the Amazon online store and other business activities that made him one of the top 10 billionaires in the world. How much money does Jeff Bezos have? He has a net worth of $210 billion, which will inspire others when they want to grow rich. He spends a certain amount of money on research and development projects to introduce new innovations and better services to customers. Furthermore, he donates his money to various charity activities and owns a collection of the most expensive cars.
The Success Story Of Amazon That Increased Jeff Bezos Net Worth
Jeff Bezos got job offers from Intel, Bell, and other companies after completing his engineering degree in 1986. He first started to work for a fintech telecommunication start-up company called “Fitel, “and his job was to build a network for international trade. Bezos was promoted as the head of development and director of customer service after a few months.
He entered the banking industry as a product manager at Bankers Trust, where he worked there from 1988 to 1990. Bezos joined D. E. Shaw & Co. thereafter, which is a multinational investment management company. The company offers hedge fund services with a strong emphasis on mathematical modeling, and Jeff became the 4th vice president at 30. Mackenzie Scott is a co-worker of Jeff at D.E. Shaw & Co., who became his wife later.
Both Jeff and MacKenzie Scott left their jobs after deciding to launch an online bookstore due to the increasing number of web users. They launched the store in a rented garage on 5th July 1994 in Bellevue, Washington. The business started to grow exponentially, and Jeff planned to set up his company at an Indian reservation near San Francisco instead of settling in Seattle.
He started the company in San Francisco to avoid paying taxes and named his company Cadabra. However, Jeff renamed Cadabra to Amazon because customers will remember it due to the famous river Amazon in South America.
Amazon started to sell CDs in 1998 and added video later that year. Jeff decided to expand the company’s products to sell a variety of consumer goods. Therefore, he raised $54 million during 1997’s equity offering and borrowed $2 billion from banks. On the other hand, Amazon went bankrupt and bounced back from financial instability in 2003, earning a profit of $35 million.
As more companies started their online business operations, Jeff realized that his store needed a diversification of products. Amazon started to sell electronics, apparel, hardware, and other items in 2005, which increased Jeff Bezos net worth significantly. The company introduced the Kindle, a new handheld reading device, in late 2007 for book lovers. It is a digital book reader that allows readers to buy, download, store, and read a book with internet connectivity.
In 2010, the company declared that the sales of Kindle books surpassed those of hardcover books. Amazon decided to start its studios division in the same year to produce movies and television shows. Jeff stepped down as CEO of Amazon in February 2021 and plans to remain at the company as executive chairman.
Revenue from Amazon Web Services
Jeff Bezos decided to launch technical-oriented services to individuals, companies, and small businesses. Amazon launched its first web services from the company’s infrastructure in 2002, which is built to handle online retail operations. Amazon Web Services, shortly known as AWS, was founded in the year 2006 and started to offer a wide range of services with a pay-as-per-use pricing model over the Internet.
AWS services involve cloud-based technologies that provide cost-effective solutions to customers. They use and interact with many programming languages and communicate over many different networks. In 2012, income from AWS increased Jeff Bezos net worth because it generated a revenue of over $1.5 billion. AWS comprises over 200 products and services, which became a part of Amazon’s retail store operations.
AWS started to launch its partner network, AWS Partner Network (APN), in 2014 to focus on helping AWS-based companies grow. In 2015, the company acquired Annapurna Labs for $370 million. It earned a profit of $1.57 billion in the first quarter of 2015 adding Jeff Bezos net worth and wealth.
In 2016 Q1, AWS generated a revenue of $2.57 billion with a net income of $604 million, which made the company more profitable. In 2022, the company earned $80 billion in income with an operating income of $22.8 billion.
Income from Blue Origin
Blue Origin is a company founded by Jeff in 2000 in Kent that offers aerospace and launch services. The company launched its first test vehicle, the Goddard rocket, with a 285-foot altitude in November 2006. Furthermore, the company focuses on delivering sub-orbital space flights for tourism purposes.
It provides short-duration trips to space and back in the company’s New Shepherd vertical take-off rocket with a seating capacity of a maximum of 6 passengers at a time. The company has a total of 11,000 employees and achieved huge revenue in millions. Bezos priced the commercial spaceflight tickets from $200,000 to $300,000 per person. However, the exact income from Blue Origin is unknown to anyone.
Earnings from Atlas Labs
Jeff Bezos co-founded Atlas Labs in September 2021 with Yuri Milner, who is the founder of Mail.ru. It is a biotechnology company that aims at harnessing cellular programming to extend the lifespan of human beings through the most advanced technologies. The company was started with an initial capital of $3 billion and has an executive team led by Hal Barron.
Jeff’s investments in healthcare sectors
Healthcare investments increased Jeff Bezos net worth to a greater extent. He invested money in Unity Biotechnology, a life extension research firm, which aims at stopping or slowing down the aging process through drugs. The research firm develops new drugs that target senescent cells significantly. Furthermore, the company raised $85 million on the Nasdaq exchange at a $700 million market capitalization on May 3, 2018.
GRAIL, Zocdoc, and Juno Therapeutics are some other healthcare investments that increased Jeff Bezos net worth with substantial earnings. GRAIL is a biotechnology company that was a subsidiary of Illumina previously. Similarly, Juno Therapeutics, a biotechnology firm, raised $300 million through private funding and a further $265 million through an initial public offering (IPO).
Zocdoc is an online service company that allows patients to find and book in-person or telemedicine appointments. It is a private startup company established in 2007 that has a value of $1.8 billion. Although the service is free for patients, doctors have to advertise their appointment slots with a payment system.
Earnings from Twitch
Twitch is an online streaming platform that offers live video game streaming to viewers with the latest technologies. It was acquired by Amazon for $970 million on August 25, 2014, and became a full subsidiary. The platform earns revenues through subscribers and ads. On the other hand, the total earnings from the Twitch platform are not available. Amazon operates the platform under the Twitch interactive label.
The Washington Post acquisition
The Washington Post is a leading US newspaper that covers news on various topics. Jeff Bezos acquired the newspaper for $250 million, which has been in the print circulation since 1877. However, he shifted his focus to digital media to increase the readership globally and locally.
Whole Foods Market
Amazon entered the supermarket business and acquired Whole Foods Market Inc. in 2017 for $13.7 billion. The store has been facing a loss of income for several quarters, and Jeff Bezos bought the supermarket chain to sell organic groceries. Headquartered in Austin, Texas, the store allows customers to buy products that are free from artificial flavors, preservatives, hydrogenated fats, etc.
Whole Foods Market has several stores in the UK, US, and Canada, enabling buyers to buy high-quality products. In 2021, the supermarket generated an income of $17 billion through its stores. On March 15, 2024, Amazon decided to close Fulham and Richmond stores in the UK.
Investments in Google shares
Jeff Bezos became the first shareholder of Google in 1998 with an investment of $250,000, which resulted in 3.3 million shares of Google stock. The stock value is worth about $3.1 billion in 2017.
Earnings from Zappos
Zappos is a leading online store that sells shoes and clothing products in the market. The store was founded by Nick Swinmurn in 1999 under the domain name Shoesite.com. Based in Las Vegas, Nevada, United States, the store was acquired by Amazon in July 2009 with a value of $1.2 billion.
Amazon purchased all outstanding shares and other assets including warrants from Zappos which became a subsidiary of Amazon. Zappos moved its headquarters from Henderson, Nevada, and earned good profits.
Jeff’s other investments
Jeff has a large portfolio of investments that let him become one of the top billionaires on the planet. He invested his money in Airbnb, Basecamp, Business Insider, Convoy, Domo, Notco, Uber, WhyLabs, etc. The list goes on, which increased Jeff Bezos net worth in various ways.
How did Jeff Bezos build his wealth empire?
Jeff Bezos earned $54 million through Amazon’s initial public offering (IPO) in 1997, which made him one of the millionaires. In 1999, Jeff Bezos net worth was $10.1 billion, which allowed him to enter the list of Forbes World’s billionaires for the first time.
On the other hand, Jeff Bezos net worth declined to $6.1 billion a year later, which is a 40.5% drop. His wealth dropped further to $2.0 billion the following year. Jeff’s earnings started to decrease up to 2003, and he managed to increase his net worth to $2.5 billion in 2004. Bezos’s income rose to $30.5 billion in 2014 and $50.3 billion a year later. In October 2016, Jeff Bezos net worth increased by $16.2 billion to $66.5 billion.
This made Jeff become the third-richest person after Warren Buffet. In 2017, Jeff Bezos net worth surpassed the net worth of Bill Gates for $100 billion. His net worth increased to $150 billion in 2018. On the other hand, Jeff Bezos net worth faced a sharp decline in 2019 due to his divorce from Mackenzie Bezos.
Real Estate Investments by Jeff Bezos
Jeff Bezos resided in Seattle, Washington, for nearly three decades, and he decided to relocate his residence to Miami. He paid $150 million for two properties on Miami’s private island, Indian Creek Village. Reliable sources reveal that he also bought a third home in the same location in April 2024.
Bezos and Mackenzie Bezos purchased a mansion on two prime acres in Beverly Hills, California, for $24.5 million in 2007. At the same time, Mackenzie received this property as part of their 2019 divorce settlement. Mackenzie said that she had donated the property to a California charity called the “California Community Foundation.”.
Jeff purchased two properties for $225 million in Beverly Hills in 2020, and the first estate named Jack L. Warner cost $165 million. It covers 10 lush acres and features a 13,600-square-foot main house in the heart of Beverley Hills. The second property was bought by Bezos in February 2020. It was a 120-acre vacant hilltop called Enchanted Hill, which covers modern amenities. He owns three units at 25 Central Park West in Manhattan. Moreover, he has a $10 million 5-acre property in Medina, Washington.
Jeff Bezos net worth 2023
In 2023, Jeff’s net worth was reduced due to a 38% decline in Amazon stock. Jeff Bezos net worth 2023 was around $153 billion, and his wealth was increased by $70 billion at the start of the year 2024. His net worth is likely to increase at the end of the year 2024.
The Personal Life of Jeff Bezos
Jeff Bezos met Mackenzie while working at D. E. Shaw, who was a research associate and novelist. They got married in 1993, and the couple has four children. In January 2019, Bezos and Mackenzie announced that they would be getting divorced after 25 years. Mackenzie received 25% of Amazon stock and a mansion in Beverly Hills as a divorce settlement. Jeff and Sanchez became engaged on 22nd May 2023.
Bezos donated over $400 million in stock to charitable organizations. His foundation, Bezos Earth Fund, started with an initial commitment of $10 million to fund grants for climate change and nature preservation projects. The foundation uses AI and other advanced technologies to protect the environment from global warming. Jezz Bezos has won several awards due to his contribution to the business world.
Jeff Bezos is a space lover and made a space tour along with William Shatner. Aside from this, he enjoys earthly vacations and cruised the Mediterranean Sea with his fiancée, Lauren Sanchez. He has a collection of luxury cars that are very expensive and owns three private jets worth $140 million.
What is Jeff Bezos net worth in 2024?
He became the second richest person in 2024 due to his increased net worth. Jeff Bezos net worth in 2024 is $210 billion that made him a billionaire. He slipped to 3rd position as a billionaire in 2023 and bounced back to reclaim the 2nd rank. Amazon shares increased to 17%, which is 90% higher than a year ago. Bezos owns about 9% of Amazon shares now, and his net worth might go up when the stock rises in the market.
Conclusion
Jeff Bezos made huge achievements in his business, and his strategic vision allowed him to become a topmost icon in the economic world. His innovative ideas in space and media will make Jeff the leading frontier in business. He may retain his billionaire rank in the upcoming years due to his high net worth.
