On July 5, 2021, Jeff Bezos stepped down as CEO of Amazon, the business he created and which has made him a worldwide figure. For emotional reasons, he picked that day. After all, it was the 27th anniversary of the company’s incorporation in 1994. On July 16, 1995, Amazon, headquartered in Seattle, opened its virtual doors and began selling books online. Bezos assisted with the packaging of the orders as well as the delivery of the boxes to the post office for shipment.
Bezos’ fortune has grown by orders of magnitude since those early days. Forbes named Bezos the world’s wealthiest person on July 5, when he moved to executive chairman of Amazon, with a net worth of $201.8 billion, more than $30 billion more than the No. 2 person on the list, Tesla and SpaceX CEL Elon Musk.
Bezos was temporarily surpassed by Musk as the richest person on the list in early January 2021. Despite handing $36 billion in Amazon shares to his ex-wife, MacKenzie Scott, as part of their divorce settlement in 2019, Bezos claimed the title of world’s richest person for the third year in a row in 2020.
While leveraging Amazon to disrupt almost every consumer sector, Bezos has accumulated incredible fortune — as well as considerable criticism about how much he pays employees and gives to charity.
Continue reading to see how Bezos’ ideas transformed the way you buy and how he earned a fortune doing so.
Jeff Bezos Net Worth
Bezos’ net wealth grew in tandem with Amazon’s shares, which reached a market value of $1.7 trillion. On July 6, 2016, one Amazon share was worth $745.81. It was $3,510.98 five years later. Other investments by Bezos, including ownership of The Washington Post and Blue Origin, a company that develops commercial rockets, have bolstered his status as the world’s richest person.
Jeff Bezos Increases His charitable Givings
Jeff Bezos hasn’t always been seen as the most philanthropic billionaire, particularly when compared to Bill Gates and Warren Buffett, since he has given less to charity organizations or causes than others in comparable positions. Bezos has also declined to take part in The Giving Pledge. MacKenzie Scott, his ex-wife, joined the effort, which asks the world’s richest individuals to give half of their fortune either during their lifetime or after they die. The Giving Pledge has been signed by Bill Gates, Warren Buffett, and approximately 200 others.
In 2020, however, Jeff Bezos made the year’s biggest philanthropic contribution, donating $10 billion to establish the Bezos Earth Fund, a charity that supports charities fighting to combat climate change. Bezos also contributed $100 million to Feeding America’s COVID-19 Response Fund.
Jeff Bezos Started As An Entrepreneurship
After starting off as a book seller, Amazon has expanded to provide a wide range of goods and services to consumers all over the world, allowing it to become the quickest business to exceed $100 billion in annual sales, which it accomplished in 2015. The firm is now valued at about $1.7 trillion, with record fourth-quarter sales of more than $125 billion expected in 2020.
Despite the fact that Amazon went public in May 1997, the firm’s founder still owns 10.3 percent of the corporation. He sold $10 billion in Amazon shares in 2020 and another $4.9 billion in May 2021, perhaps to help finance other projects that he claims would become his focus.
After purchasing The Washington Post for $250 million in 2013, Bezos became one of the most powerful actors in the news business.
According to CNBC, Bezos paid $580 million for Dubai-based online retailer Souq.com in March 2017. As a result, he was able to grow Amazon throughout the Middle East.
In 2017, Bezos also paid $13.7 billion for the Whole Foods supermarket chain, paving the door for Amazon to revive its food delivery business, Amazon Fresh.
Blue Origin, a rocket firm established by the billionaire entrepreneur, is building reusable rockets to transport people to and from space. Bezos is slated to go into space on July 20, 2021, as part of the first crewed mission of Blue Origin’s New Shepard rocket ship. Mark Bezos, his brother, is expected to join him.
His Real Estate Ventures
Bezos bought the 27,000-square-foot old Textile Museum in Kalorama, a posh Washington, D.C. suburb, for $23 million in 2016. Two historic houses on the National Register of Historic Places make up the site. Despite the significant expenditure, Bezos’ principal home remains in Washington.
The primary Bezos house is a 29,000-square-foot property near Amazon’s headquarters in the Seattle suburb of Medina. According to Forbes, Bezos’ 5.35-acre waterfront property, which was once a 13,000-square-foot house, underwent a $28 million makeover to turn it into a vast paradise.
According to The Hollywood Reporter, Bezos bought a nine-acre Beverly Hills, California-area home for $165 million in February 2020, a record transaction for a single property in Los Angeles County.
Bezos also owns a 30,000-acre ranch outside of West Horn, Texas, and a penthouse on Fifth Avenue in New York City, according to real estate website Inman.
Toys of Luxury of Jeff Bezos
Bezos purchased the 27,000-square-foot old Textile Museum in Kalorama, a posh Washington, D.C. suburb, for $23 million in 2016. Two historic homes on the National Register of Historic Places comprise the site. Despite the significant expenditure, Bezos’ principal home is still in Washington.
The primary Bezos house, which is a 29,000-square-foot complex near Amazon’s headquarters in the Seattle suburb of Medina, is a 29,000-square-foot compound. According to Forbes, Bezos’ 5.35-acre waterfront property, which was once a 13,000-square-foot house, had a $28 million makeover to turn it into a vast paradise.
According to The Hollywood Reporter, in February 2020, Bezos paid $165 million for a nine-acre home in Beverly Hills, California, setting a new record for a single house in Los Angeles County.
Bezos also owns a 30,000-acre ranch in West Horn, Texas, and a penthouse on Fifth Avenue in New York City, according to real estate website Inman.
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