How Jeff Bezos Became a Billionaire

Jeff Bezos, the second richest person in the world, made a key decision in 1994 when he left his position at the hedge fund D.E. Shaw and moved to Seattle with his then-wife, MacKenzie. There, he launched an online bookstore that eventually evolved into Amazon, a giant in e-commerce and one of the most influential and feared companies of the 21st century. Today, Amazon not only dominates digital commerce but also leads in cloud storage and content production for Amazon Prime Video.

Although Bezos stepped down as CEO of Amazon in July 2021, he remains the company’s executive chairman. Additionally, he has made strategic investments in innovative startups such as Overtime Sports and Wildtype, a company that produces seafood from fish cells. Despite his success, he has faced setbacks, including the failed launch of a rocket by his private space company, Blue Origin, in September 2022.

Bezos holds about 10% of Amazon’s shares, which account for nearly 90% of his wealth. Since the company went public in 1997, he has sold more than $27 billion in stock. In 2019, he transferred 4% of the company to his ex-wife, MacKenzie Scott, as part of their divorce settlement.

Diversification of Investments and Wealth

• Cash and Investments: Bezos holds approximately $13 billion in cash and investments. His family office, Bezos Expeditions, has backed more than 100 startups, including the Chilean company NotCo and the sports media platform Overtime.
• Blue Origin: He has invested at least $8 billion in his space company since its founding in 2000. In 2021, Blue Origin took Bezos to space, marking a milestone in his career.
• The Washington Post: In 2013, he acquired this iconic newspaper for $250 million. Today, the publication is valued at around $2 billion, thanks to growth in its digital audience and advertising revenue.
• Real Estate: The mogul owns residences in key locations such as Washington, D.C., New York, Beverly Hills, Hawaii, and Medina (Washington). During his divorce, he transferred two properties worth $55 million to MacKenzie Scott, who later donated them to a foundation for affordable housing.
• Jets and Yachts: Bezos commissioned a $500 million superyacht so large that it caused controversy in Rotterdam when it was considered to dismantle a historic bridge to allow its passage. He also owns two private jets with a combined value of $134 million.

Philanthropy

To date, Bezos has donated around $2.4 billion, which represents less than 2% of his fortune. Despite his $10 billion pledge to combat climate change through his Bezos Earth Fund, FORBES only counts donations when the funds are disbursed. Bezos has also declared his intention to donate most of his fortune during his lifetime, though he has admitted that philanthropy is “hard” due to the logistical challenges of managing such large sums.

Some of Bezos’ most notable contributions include:

• $1.4 billion through the Bezos Earth Fund.
• $400 million in grants through his Day One Fund to help homeless families.
• $200 million to the Smithsonian National Air and Space Museum.

Early Life and History

Jeff Bezos was born in Albuquerque, New Mexico, in 1968, into a working-class family. His mother, Jacklyn, was a teenager when he was born. After divorcing, she met Miguel Bezos, a Cuban immigrant who later adopted Jeff as his own son. The family moved to Houston, where Miguel worked as an engineer for Exxon.

In 1994, Bezos left a lucrative Wall Street job to pursue his vision of creating an online bookstore. Amazon began in his garage in Bellevue, Washington, with MacKenzie managing accounting and packaging orders. In 1997, Amazon went public, and a year later, Bezos made the FORBES list of the richest people.

Rise and Controversy

Under Bezos’ leadership, Amazon became the world’s largest online retailer, expanding into sectors like cloud computing, digital content production, and acquiring companies like Audible, Zappos, and Twitch. In 2017, Bezos was crowned the world’s richest person with a net worth of $90.6 billion, surpassing figures like Bill Gates and Warren Buffett.

However, his personal life also attracted media attention. His 2019 divorce from MacKenzie Scott and his relationship with Lauren Sánchez became tabloid fodder. Bezos accused the National Enquirer of blackmail in a public letter, leading to an internal investigation into how his private messages were obtained.

Despite stepping down as Amazon’s CEO in 2021, Jeff Bezos remains a key figure in the global business and philanthropic landscape while directing his efforts toward personal projects and new business ventures, such as his passion for space exploration.

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