Hey Alexa..if you haven’t given that name and spoken to a device yet, you can be sure that day will come. Talking to something that can hear and respond to you is the fruit of seeing a crazy, Amazon owner, Jeff Bezos, who plans to make space travel a commercial endeavor.
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The third richest man in the world does not hesitate to invest and expand his business. From a small garage, Amazon is one of the most diverse and valuable companies in the world today.
Through the all-in-one market, Jeff Bezos has also created technology products such as computer smartwatches and read-only tablets – the popular Kindle – as well as Alexa and a successful entry into the world of streaming.
Today, the owner of Amazon is the third richest man on the planet, with a net worth of $148.5 billion, according to Forbes magazine’s real-time rating. In May 2022, Bezos was second in the poll after only Elon Musk.
But who is Jeff Bezos anyway? A typical American who started his career on Wall Street and conquered the world outside the financial market? How did he manage to become one of the most powerful men on the planet? To answer these and other questions, check out The Billionaire’s Path.
The beginning of Jeff Bezos
The boy spent part of his childhood in Texas and his late teenage years in Miami. Jeff began his career at McDonald’s, and during high school he attended a science program at the University of Florida.
An exemplary student, he followed in his father’s footsteps and went on to study mechanical engineering and computer science at Princeton University. He became a class valedictorian and was invited to chair the University Guide for the Space Exploration and Development Group.
Bezos graduated in 1986. After recently graduating, he turned down an offer from Intel and went to work at a telecommunications company focused on international trade. Step by step he built a career within the company and became a CRM.
But it was not enough: he wanted new emotions and drew the attention of Jeff Bezos to Wall Street and the glamor of the financial market. In 1988 he took up the position of product manager at Bankers Trust, where he remained for two years. He later moved on to investment director DE Shaw & Kie and rose to the position of Senior Vice President at the age of 30. It was also in this company that the future billionaire met Mackenzie Scott, whom he later married.
The turning point in Bezos’ life began in De Shaw: Market Research
For one company, he found that Internet usage is increasing by about 2,300% annually, and this underscores his point: e-commerce is the future.
Jeff Bezos escaped from Wall Street
Bezos left New York for Seattle. The plan of action, which goes horribly awry, was drawn up during the car ride. Along the way he also made the first contacts with potential investors who could make the dream come true.
The book-loving couple Bezos and Scott bet on the world of reading and set up a library in their garage in 1993. To make the project a success, he took a course at the American Library Association to learn how to edit literary works. to sell.
Reasoning that lower prices attracted customers, which led to increased sales, the pair sold books at below-market prices. The first investors were the parents of Jeff Bezos, who bet the company about 245 thousand dollars.
The first steps had already been taken and the sale of books over the Internet, even in times of discovery of the Internet by ordinary users, was profitable. But anyone who thinks “Amazon” is the company’s first name is wrong.
“Cadabra” and “Relentless” were the first “brands”. And here’s a fun fact: The domain relentless.com is still affiliated with Bezos, so when you type in the website search bar, you’ll be directed to the Amazon site – you can test it!
But how did Bezos coin the name Amazon? He looked in the dictionary. On the first pages, the businessman came across the term, the English word for the Amazon, which indicates something “different”. Google did not exist yet, and companies were listed in alphabetical order in search engines.
The garage was too small for Amazon, and with just over a year to go, the online library proved to be a good and profitable idea. But Bezos wanted more: with a few additional adjustments, the company could become a giant.
Within two months, the company was already shipping packages across the United States and across the border. With certain characteristics of the startup, such as rapid growth, profits have grown, but not enough to continue reinvesting in operations. However, Bezos – with his experience in the investment world – quickly thought of a solution: a public stock offering (IPO).
A massive move, backed by strong numbers – a weekly net income of around $20,000 – and a solid growth plan. In 1997, after three years of activity, Amazon went public on the Nasdaq at $18 per share; The market value of the company reached 560 million dollars.
At the time, the company had just over 600 employees and a base of over one million active customers. This made Bezos a millionaire.
In the year after its IPO, the owner of Amazon decided to expand the business. In addition to books, the site started offering CDs and movies – and since then more and more items have been included. This expansion made Bezos’ bank account jump into billions of dollars.
In 1998, the businessman entered the list of billionaires in Forbes magazine. It is worth noting that Jeff Bezos resigned from the position of CEO of the company in July 2021 and continued to work as CEO (Chairman of the Board). In his place, Andy Gacy has held the post ever since.
Jeff Bezos in space
But let’s put Amazon aside for a moment. Remember the dream Bezos described when he graduated from high school? Well, NASA was making progress in space exploration, and man had already gone to the moon – but the billionaire’s wish had yet to come true.
Billionaire founded Blue Origin in 2000, two years before Elon Musk started working with SpaceX. But everything was done in a very secret way.
The existence of the space company was only revealed three years later, when an Amazon owner began to buy a lot of land in the Texas area – and the reason was not only to save memories of where he spent his childhood.
The company alone did not make as much profit as Amazon. Bezos sells $1 billion worth of stock every year to finance his dream — or rather, his rocket company. One of the biggest ambitions is to get to the moon, and improvements to Blue Origin aircraft are going in that direction. In 2021, Jeff Bezos and three crew members made the first space flight into Earth orbit.
This year, the billionaire repeated this feat – taking ordinary people into space, with six members, one of whom was the Brazilian engineer Victor Correa Hispanha.
Jeff Bezos and MacKenzie: The most expensive divorce ever
“Good luck at work, bad luck in love”: This mantra seems to haunt billionaires, and in the Amazon owner’s case it was no different.
Bezos and MacKenzie divorced in 2019 after 25 years of marriage. At the time, the Amazon owner was accused of having an extramarital affair with former TV presenter Lauren Sanchez, but it was all a hoax.
Investigations indicated that the billionaire’s phone was hacked, but despite that, the divorce was achieved, which is the most expensive in history. McKenzie acquired 25% of Bezos’ shares in Amazon, bringing in about $35.6 billion from it. The pair collectively own about 16% of the retailer, or 78.8 million shares.
In the end, he kept control of Amazon in his own hands.