Jeff Bezos is an American businessman best known for founding tech giant Amazon, one of the world’s highest-valued companies. He also owns The Washington Post and aerospace company Blue Origin. With a net worth of more than $200B as of this writing, he is among the world’s wealthiest individuals (and was the wealthiest at one point in 2018).
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Bezos parlayed a career on Wall Street into founding an online bookstore that would evolve into the largest online retailer in the world. Bezos’ story is characterized by his relentless focus on innovation and on the customer experience at Amazon.
Jeff Bezos’ mother gave birth to him at 17 years old, and his grandfather was very involved in his life. Bezos spent much of his childhood helping out on his grandfather’s ranch, for instance. In this short clip, Bezos shares some of his thoughts on his family members and his early years of life.
He now claims that his high school gig at the fast food restaurant taught him about efficiency, customer service, and other valuable lessons that he took with him when building Amazon.
His biological father, Ted Jorgensen, was a circus performer at the time. He later gave up custody of Jeff and became a bicycle repairman in Phoenix, Arizona. Ironically, the last time Jorgensen saw Jeff as a child was in a Walmart where Jorgensen worked. This video dives into the relationship between Jeff Bezos and his estranged biological father, who passed away in 2015.
When Bezos is making a decision, he asks himself a simple question to minimize regret: “When I’m 80, will I regret not doing this?” The decision-making framework has become popular since Bezos began speaking publicly about it.
Mike Bezos’ mother made a coat out of cleaning rags for him before he immigrated, assuming that the United States would be very cold. Mike and Jeff told the story of Mike’s journey to the US and early days in America together in this video.
"Ouch. It's been a brutal year for many in the capital markets and certainly for Amazon.com shareholders," the letter begins. Amazon shares were down more than 80% from the prior year at the time.
Over the years, Amazon founder Jeff Bezos often recalls how wrong the predictions in the 1999 Barron’s cover story were. Among other things, that article declared Amazon’s entire business model to be unsustainable and destined to fail, noting its lack of profit and dependence on a massive amount of capital to fund its growth.
Mark Zuckerberg was the richest person in California at the time, with a net worth of roughly $189B. This map shows the richest person in every US state.
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Three decades after founding Amazon, Jeff Bezos has built a sprawling empire of businesses and financial interests. Other large stakeholders in the company include Amazon CEO Andrew Jassy and Bezos’ ex-wife MacKenzie Scott. This article provides more details on who owns how much of Amazon.
The United States is home to more than 33 million businesses, the vast majority of which are small businesses, with millions being created (and others closing shop) every year. These businesses often rely on loans, provide the goods and services that keep the economy flowing, and sometimes even grow large enough to enter public markets or provide private investment opportunities. Explore key topics central to business and finance, from the role of the Federal Reserve to how initial public offerings work, how millions of American students finance higher education, and more.