Observation
Bezos is the founder of Amazon, the world’s largest online retailer. The Seattle-based company sells electronics, home goods, and other products through its flagship website. It also controls the Whole Foods grocery chain and provides cloud computing and streaming services. Amazon had a revenue of $470 billion in 2021. Jeff Bezos Net Worth $153B in Auguat 2022.
Net worth summary
IMAGE CREDIT-britannica.com
Jeff Bezos Biography and Net Worth – 2022
According to the company’s 2022 proxy statement, Bezos owns about 10% of the world’s largest online retailer, Amazon.
He also owns the space exploration company Blue Origin, which is involved in calculating Bloomberg’s investment costs.
According to Chad Anderson, CEO of venture fund SpaceAngels, determining valuations for Blue Origin is difficult due to its unique strategy and the fact that Bezos is the only shareholder with no clear intention to sell. A Blue Origin director told a space conference in Washington in 2014 that the billionaire had invested “at least $500 million”, accounting for the same amount over 13 years beginning in 2001, Blue Origin incorporated. went.
Bezos said in April 2017 that he funds the venture through the sale of “about $1 billion a year” of Amazon stock. That amount is deducted from the after-tax proceeds of its known share sales since 2014 and is classified as funding for Blue Origin. That amount was thought to be $2 billion in 2021 as the company made its first manned flights and Bezos’ stock sales boomed. Since 2002, he’s sold nearly $29 billion worth of Amazon shares, based on an analysis of Bloomberg data.
Bezos paid the Washington Post $250 million in August 2013, which is included in the cost.
He pledged $2 billion to social issues in 2018 and in February 2020 pledged to donate $10 billion to help combat the effects of climate change. These amounts will be deducted from his net worth when the gift is given.
The value of their cash investments includes these transactions, taxes, and market performance. Bezos owned a 16% stake in Amazon before the pair transferred a 4% stake to Mackenzie Scott in 2019 following the pair’s divorce. About $650 million was deducted from the cash balance at this time to reflect Bloomberg’s estimate of the cost of his divorce outside of Amazon shares.
Amazon spokesman Drew Herdener declined to comment on Bezos’s net worth.
Jeff Bezos Biography
Date of Birth: 1/12/1964
Family: Divorced, 4 children
Education: Princeton University
Jeff Bezos, a former Wall Street computer engineer, founded Amazon in 1994 to sell books online. After an initial public offering in 1997, Amazon’s stock soared nearly 40 times, making Bezos’ personal wealth more than $12 billion. By the time the technology bubble ended in 2001, its shares were worth less than $2 billion.
The Princeton graduate built his reputation on long-term thinking and a focus on customer service. Today, Amazon sells millions of different products, many of which are purged by third-party sellers who rely on Amazon’s data management services to help fulfill their orders.
The company introduced the Kindle electronic book reader in 2007. Now it’s Amazon’s best-selling item. In 2011, after Amazon launched the Kindle Fire, Amazon faced stiff competition from Apple in the tablet computer business.
Bezos owns the Washington Post and also oversees Blue Origin, a space exploration company that strives to reduce costs and increase the safety of spacecraft. He pledged $2 billion of his fortune to preschool programs and homeless families in September 2018 and $10 billion to fight climate change in February 2020.
Bezos and his wife Mackenzie divorced in 2019. McKenzie received a 4% stake in Amazon as part of the divestiture.
He announced in February 2021 that he would be retiring as chief executive of Amazon, with plans to devote more time to his philanthropy and other companies. In July 2021, Bezos joined Blue Origin’s first crewed mission.
Milestones
- Jeffrey Bezos was born in 1964 in Albuquerque, New Mexico.
- 1986 Graduated from Princeton University. Works at Bankers Trust
- 1994 Found Amazon.com to sell books online.
- 1997 lists Amazon in an initial public offering at $18 per share.
- 1999 Time magazine named Person of the Year.
- 2003 Survived a helicopter crash in southwest Texas.
- Introducing the 2007 Kindle Electronic Book Reader.
- 2010 e-book sales surpassed traditional book sales on Amazon.com.
- In 2013, Bezos bought the Washington Post newspaper for $250 million.
- 2017 became the richest person in the world.
- 2019 Bezos and Mackenzie Scott announced that they are getting divorced.
- 2021 Step down from the role of Amazon’s chief executive officer.
- 2021 includes Blue Origin’s first crewed mission to space.