Jeff Bezos PDF

Jeff Bezos
Jeffrey Preston Bezos (/ˈbeɪzoʊs/;[a][2] né Jorgensen; born January

Jeff Bezos
12, 1964) is an American internet entrepreneur, industrialist, media
proprietor, and investor. He is best known as the founder, CEO, and
president of the multi-national technology company Amazon. The
first centi-billionaire on the Forbes wealth index, Bezos has been the
world's richest person since 2017 and was named the "richest man in
modern history" after his net worth increased to $150 billion in July
2018.[3] In September 2018, Forbes described him as "far richer than
anyone else on the planet" as he added $1.8 billion to his net worth
when Amazon became the second company in history to reach a
market cap of $1 trillion.
Born in Albuquerque and raised in Houston and later Miami, Bezos

graduated from Princeton University in 1986 with a degree in
electrical engineering and computer science. He worked on Wall
Street in a variety of related fields from 1986 to early 1994. He
founded Amazon in late 1994 on a cross-country road trip from New
York City to Seattle. The company began as an online bookstore and
has since expanded to a wide variety of other e-commerce products
Born Jeffrey Preston
and services, including video and audio streaming, cloud computing,
Jorgensen
and AI. It is currently the world's largest online sales company, the
largest Internet company by revenue, and the world's largest January 12, 1964
provider of virtual assistants[4] and cloud infrastructure services Albuquerque, New
through its Amazon Web Services branch. Mexico, U.S.
Education Princeton University
Bezos founded the aerospace manufacturer and sub-orbital
(BS)
spaceflight services company Blue Origin in 2000. A Blue Origin
test flight successfully first reached space in 2015, and the company Occupation Businessman · Media
has upcoming plans to begin commercial suborbital human proprietor · Investor ·
spaceflight.[5] He also purchased the major American newspaper Computer engineer
The Washington Post in 2013 for $250 million in cash, and manages Years active 1986–present
many other investments through his Bezos Expeditions venture
capital firm. Known for Founder of Amazon
and Blue Origin
Net worth US$151.6 billion (May
Contents 2020)[1]
Title CEO and President of
Early life
Amazon
Business career
Spouse(s) MacKenzie Tuttle
Early career
(m. 1993; div. 2019)
Amazon
Children 4
Blue Origin
The Washington Post
Bezos Expeditions
Public image
Leadership style
Recognition
Wealth
Personal life
Politics
Saudi hacking claim
Philanthropy
See also
Notes
References
Sources
Further reading
External links
Early life
Bezos was born Jeffrey Preston Jorgensen in Albuquerque, New Mexico, on January 12, 1964, the son of
Jacklyn (née Gise) and Ted Jorgensen.[6] At the time of his birth, his mother was a 17-year-old high school
student and his father was a bike shop owner.[7] After his parents divorced, his mother married Cuban
immigrant Miguel "Mike" Bezos in April 1968.[8] Shortly after the wedding, Mike adopted four-year-old
Jorgensen, whose surname was then changed to Bezos.[9] The family moved to Houston, Texas, where Mike
worked as an engineer for Exxon after he received a degree from the University of New Mexico.[10] Bezos
attended River Oaks Elementary School in Houston from fourth to sixth grade.[11] Bezos' maternal
grandfather was Lawrence Preston Gise, a regional director of the U.S. Atomic Energy Commission (AEC)
in Albuquerque.[12] Gise retired early to his family's ranch near Cotulla, Texas, where Bezos would spend
many summers in his youth.[10] Bezos would later purchase this ranch and expand it from 25,000 acres
(10,117 ha) to 300,000 acres (121,406 ha).[13][14] His maternal grandmother was Mattie Louise Gise (née
Strait), through whom he is a cousin of country singer George Strait.[15]
Bezos often displayed scientific interests and technological proficiency, and he once rigged an electric alarm
to keep his younger siblings out of his room.[16][17] The family moved to Miami, Florida, where Bezos
attended Miami Palmetto High School in nearby Pinecrest, Florida.[18][19] While Bezos was in high school,
he worked at McDonald's as a short-order line cook during the breakfast shift.[20] He attended the Student
Science Training Program at the University of Florida. He was high school valedictorian, a National Merit
Scholar,[21][22] and a Silver Knight Award winner in 1982.[21] In his graduation speech, Bezos told the
audience he dreamed of the day when mankind would colonize space. A local newspaper quoted his
intention "to get all people off the earth and see it turned into a huge national park".[23] In 1986, he
graduated summa cum laude from Princeton University with a 4.2 GPA and a Bachelor of Science in
Engineering (BSE) in electrical engineering and computer science; he was also a member of Phi Beta
Kappa.[24][25] In addition, he was elected to Tau Beta Pi and was the president of the Princeton chapter of
the Students for the Exploration and Development of Space (SEDS).[26][27]
Business career
Early career
After Bezos graduated from Princeton University in 1986, he was offered jobs at Intel, Bell Labs, and
Andersen Consulting, among others.[28] He first worked at Fitel, a fintech telecommunications start-up,
where he was tasked with building a network for international trade.[29] Bezos was promoted to head of
development and director of customer service thereafter.[30] He transitioned into the banking industry when
he became a product manager at Bankers Trust. He worked there from 1988 to 1990.[30] He then joined D.
E. Shaw & Co, a newly-founded hedge fund with a strong emphasis on mathematical modelling in 1990 and
worked there until 1994. Bezos became D. E. Shaw's fourth senior vice-president at the age of 30.[30][28]
Amazon
In late 1993, Bezos decided to establish an online bookstore.[31] He

left his job at D. E. Shaw and founded Amazon in his garage on July
5, 1994, after writing its business plan on a cross-country drive from
New York City to Seattle.[32][33] Bezos initially named his new
company Cadabra but later changed the name to Amazon after the
Amazon River in South America, in part because the name begins
with the letter A, which is at the beginning of the alphabet.[34] He
accepted an estimated $300,000 from his parents and invested in
Amazon.[33] He warned many early investors that there was a 70% Bezos (center) at a cooperative for
chance that Amazon would fail or go bankrupt.[35] Although robotics in 2005
Amazon was originally an online bookstore, Bezos had always
planned to expand to other products.[30][34] Three years after Bezos
founded Amazon, he took it public with an initial public offering (IPO).[36] In response to critical reports
from Fortune and Barron's, Bezos maintained that the growth of the Internet would overtake competition
from larger book retailers such as Borders and Barnes & Noble.[34]
In 1998, Bezos diversified into the online sale of music and video,
and by the end of the year he had expanded the company's products
to include a variety of other consumer goods.[34] Bezos used the
$54 million raised during the company's 1997 equity offering to
finance aggressive acquisition of smaller competitors.[34] In 2000,
Bezos borrowed $2 billion from banks, as its cash balances dipped
to only $350 million.[37] In 2002, Bezos led Amazon to launch
Amazon Web Services, which compiled data from weather channels
and website traffic.[34] In late 2002, rapid spending from Amazon
Bezos receives the James Smithson caused it financial distress when revenues stagnated.[38] After the
Bicentennial medal in 2016 for his company nearly went bankrupt, he closed distribution centers and
work with Amazon.
laid off 14% of the Amazon workforce.[37] In 2003, Amazon
rebounded from financial instability and turned a profit of
$400 million.[39] In November 2007, Bezos launched the Amazon
Kindle.[40] According to a 2008 Time profile, Bezos wished to create a device that allowed a "flow state" in
reading similar to the experience of video games.[41] In 2013, Bezos secured a $600 million contract with
the Central Intelligence Agency (CIA) on behalf of Amazon Web Services.[42] In October of that year,
Amazon was recognized as the largest online shopping retailer in the world.[43]
In May 2016, Bezos sold slightly more than one million shares of his holdings in the company for
$671 million, the largest sum he had ever raised from selling some of his Amazon stock.[44] On August 4,
2016, Bezos sold another million of his shares for $756.7 million.[45] A year later, Bezos took on 130,000
new employees when he ramped up hiring at company distribution centers.[46] By January 19, 2018, his
Amazon stock holdings had appreciated to slightly over $109 billion; months later he began to sell stock to
raise cash for other enterprises, in particular, Blue Origin.[47] On January 29, 2018, he was featured in
Amazon's Super Bowl commercial.[48] On February 1, 2018, Amazon reported its highest ever profit with
quarterly earnings of $2 billion.[49] Due to the growth of Alibaba in China, Bezos has often expressed
interest in expanding Amazon into India.[50] On July 27, 2017, Bezos momentarily became the world's
wealthiest person over Microsoft co-founder Bill Gates when his estimated net worth increased to just over
$90 billion. His wealth surpassed $100 billion for the first time on November 24, 2017, and he was formally
designated the wealthiest person in the world by Forbes on March 6, 2018, with a net worth of
$112 billion.[51]
In March 2018, Bezos dispatched Amit Agarwal, Amazon's global senior

vice president, to India with $5.5 billion to localize operations throughout
the company's supply chain routes.[52] Later in the month, U.S. President
Donald Trump accused Amazon–and Bezos, specifically–of sales tax
avoidance, misusing postal routes, and anti-competitive business
practices.[53] Amazon's share price fell by 9% in response to the President's
negative comments; this reduced Bezos's personal wealth by
$10.7 billion.[54] Weeks later, Bezos recouped his losses when academic
reports out of Stanford University indicated that Trump could do little to
regulate Amazon in any meaningful way.[55] During July 2018, a number of
members of the U.S. Congress called on Bezos to detail the applications of
Amazon's face recognition software, Rekognition.[56] Additionally, Bezos in 2010
statements by the Trump administration, in favor of overturning the antitrust
law known as the Paramount Decree, have been predicted to help Amazon
acquire the Landmark Theaters chain.[57]
Criticism of Amazon's business practices continued in September 2018 when Senator Bernie Sanders
introduced the Stop Bad Employers by Zeroing Out Subsidies (Stop BEZOS) Act and accused Amazon of
receiving corporate welfare.[58] This followed revelations by the non-profit group New Food Economy
which found that one third of Amazon workers in Arizona, and one tenth of Amazon workers in
Pennsylvania and Ohio, relied on food stamps.[59] While preparing to introduce the bill, Sanders opined:
"Instead of attempting to explore Mars or go to the moon, how about Jeff Bezos pays his workers a living
wage?"[60] He later said: "Bezos could play a profound role. If he said today, nobody who is employed at
Amazon will receive less than a living wage, it would send a message to every corporation in America."[61]
Sanders's efforts elicited a response from Amazon which pointed to the 130,000 jobs it created in 2017 and
called the $28,446 figure for its median salary "misleading" as it included part-time workers.[62] However,
Sanders countered that the companies targeted by his proposal have placed an increased focus on part-time
workers to escape benefit obligations.[63] On October 2, 2018, Bezos announced a company-wide wage
increase, which Sanders applauded.[64] The American workers who were being paid the minimum wage had
this increased to $15 per hour – a decision that was interpreted as support for the Fight for $15
movement.[65]
Blue Origin
In September 2000, Bezos founded Blue Origin, a human spaceflight startup company.[66] Bezos has long
expressed an interest in space travel and the development of human life in the solar system.[22] He was the
valedictorian when he graduated from high school in 1982. His speech was followed up with a Miami
Herald interview in which he expressed an interest to build and develop hotels, amusement parks, and
colonies for human beings who were in orbit.[67] The 18-year-old Bezos stated that he wanted to preserve
Earth from overuse through resource depletion.[68]
After its founding, Blue Origin maintained a low profile until 2006,
when it purchased a large tract of land in West Texas for a launch
and test facility.[69] After the company gained the public's attention
during the late 2000s, Bezos additionally indicated his interest in
reducing the cost of space travel for humans while also increasing
the safety of extraterrestrial travel.[70] In September 2011, one of the
company's unmanned prototype vehicles crashed during a short-hop
test flight. Although the crash was viewed as a setback, news outlets
noted how far the company went from its founding-to-date in
advancing spaceflight.[71] In May 2013, Bezos met with Richard Bezos giving NASA Deputy
Branson, chairman of Virgin Galactic, to discuss commercial Administrator Lori Garver (fourth from
spaceflight opportunities and strategies.[72] He has been compared left) a tour of Blue Origin's crew
to Branson and Elon Musk as all three are billionaires who prioritize capsule in 2011.
spaceflight among their business interests.[73]
In 2015, Bezos announced that a new orbital launch vehicle was

under development and would make its first flight in the late-
2010s.[74] Later in November, Blue Origin's New Shepard space
vehicle successfully rocketed into space and reached its planned test
altitude of 329,839 feet (100.5 kilometers) before executing a
vertical landing back at the launch site in West Texas. In 2016,
Bezos allowed select journalists to visit, tour, and photograph his
facility.[75] He has repeatedly called for increased inter-space energy
and industrial manufacturing to decrease the negative costs
associated with business-related pollution.[76]
In December 2017, New Shepard successfully flew and landed

dummy passengers, amending and pushing its human space travel
U.S. Secretary of Defense Ash
start date into late 2018.[77] To execute this program, Blue Origin Carter meets with Bezos in 2016 at
built six of the vehicles to support all phases of testing and The Pentagon.
operations: no-passenger test flights, flights with test passengers,
and commercial-passenger weekly operations.[78] Since 2016, Bezos
has spoken more freely about his hopes to colonize the solar system, and has been selling $1 billion in
Amazon stock each year to capitalize Blue Origin in an effort to support this endeavor.[79][80] In May 2018,
Bezos maintained that the primary goal of Blue Origin is to preserve the natural resources of Earth by
making the human species multi-planetary.[81] He announced that New Shepard would begin transporting
humans into sub-orbital space by November 2018.[81] In July 2018, it was announced that Bezos had priced
commercial spaceflight tickets from $200,000 to $300,000 per person.[82]
The Washington Post
On August 5, 2013, Bezos announced his purchase of The Washington Post for $250 million in cash.[83] To
execute the sale, he established Nash Holdings, a limited liability holding company that legally owns the
paper.[84] The sale closed on October 1, 2013, and Nash Holdings took control.[85] In March 2014, Bezos
made his first significant change at The Washington Post and lifted the online paywall for subscribers of a
number of U.S. local newspapers in Texas, Hawaii, and Minnesota.[86] In January 2016, Bezos set out to
reinvent the newspaper as a media and technology company by reconstructing its digital media, mobile
platforms, and analytics software.[87] Throughout the early years of ownership, Bezos was accused of
having a potential conflict of interest with the paper.[88] Bezos and the newspaper's editorial board have
dismissed accusations that he unfairly controlled the paper's content and Bezos maintains the paper's
independence.[89][90] After a surge in online readership in 2016, the paper was profitable for the first time
since Bezos made the purchase in 2013.[90]
Bezos Expeditions
Bezos makes personal investments through his venture capital vehicle, Bezos Expeditions.[91] He was one
of the first shareholders in Google, when he invested $250,000 in 1998. That $250,000 investment resulted
in 3.3 million shares of Google stock, worth about $3.1 billion in 2017.[92][93] He also invested in Unity
Biotechnology, a life-extension research firm hoping to slow or stop the process of aging.[94] Bezos is
involved in the healthcare sector, which includes investments in Unity Biotechnology, Grail, Juno
Therapeutics, and ZocDoc.[95] In January 2018, an announcement was made concerning Bezos's role within
a new, unnamed healthcare company. This venture, later named Haven, is expected to be a partnership
between Amazon, JPMorgan, and Berkshire Hathaway.[96][97]
Bezos also supports philanthropic efforts through direct donations and non-profit projects funded by Bezos
Expeditions.[98] Bezos used Bezos Expeditions to fund several philanthropic projects, including an
Innovation center at the Seattle Museum of History and Industry and the Bezos Center for Neural Circuit
Dynamics at Princeton Neuroscience Institute.[99][100] In 2013, Bezos Expeditions funded the recovery of
two Saturn V first-stage Rocketdyne F-1 engines from the floor of the Atlantic Ocean.[101] They were
positively identified as belonging to the Apollo 11 mission's S-1C stage from July 1969.[102][103] The engine
is currently on display at the Seattle Museum of Flight.[104][105]
Public image
Journalist Nellie Bowles of The New York Times has described the public persona and personality of Bezos
as that of "a brilliant but mysterious and coldblooded corporate titan".[106] During the 1990s, Bezos earned a
reputation for relentlessly pushing Amazon forward, often at the expense of public charity and social
welfare.[106][107] His business practices projected a public image of prudence and parsimony with his own
wealth and that of Amazon. Bezos was a multi-billionaire who hung his clothes on a rack in his Amazon
headquarters office and drove a 1996 Honda Accord.[108] Throughout the early 2000s, he was perceived to
be geeky or nerdy.[109][110][111]
Bezos was seen by some as needlessly quantitative and data-driven.[112][113] This perception was detailed by
Alan Deutschman who described him as "talking in lists" and "[enumerating] the criteria, in order of
importance, for every decision he has made."[109] Select accounts of his persona have drawn controversy
and public attention. Notably, journalist Brad Stone wrote an unauthorized book that described Bezos as a
demanding boss as well as hyper-competitive.[107][112] Bezos has been characterized as a notoriously
opportunistic CEO who operates with little concern for obstacles and externalities.[114][115]
During the early 2010s, Bezos solidified his reputation for aggressive business practices, and his public
image began to shift. Bezos started to wear tailored clothing; he weight trained, pursued a regimented diet
and began to freely spend his money.[116] His physical transformation has been compared to the
transformation of Amazon; he is often referred to as the metonym of the company.[117][118] His physical
appearance increased the public's perception of him as a symbolically dominant figure in business and in
popular culture, wherein he has been parodied as an enterprising super villain.[119][120][121] Since 2017, he
has been portrayed by Kyle Mooney and Steve Carell on Saturday Night Live, usually as an undercutting,
domineering figure.[122] Bezos eats exotic foods, such as octopus and roasted iguana.[123][124][125] In May
2014, the International Trade Union Confederation named Bezos the "World's Worst Boss", with its general
secretary Sharan Burrow saying: "Jeff Bezos represents the inhumanity of employers who are promoting the
North American corporate model."[126] During the late 2010s, Bezos reversed his reputation for being
reluctant to spend money on non-business-related expenses.[13] His relative lack of philanthropy compared
to other billionaires has drawn a negative response from the public since 2016.[127][13] Bezos has been
known to publicly contest claims made in critical articles, as exemplified in 2015 when he sent a memo to
employees denouncing a New York Times piece.[128][129]
Leadership style
Bezos used what he called a "regret-minimization "Day 1" Management Philosophy

framework" while he worked at D. E. Shaw and again during Day 1: start up
the early years of Amazon.[132] He described this life Day 2: stasis
philosophy by stating: "When I'm 80, am I going to regret Day 3: irrelevance
leaving Wall Street? No. Will I regret missing the beginning Day 4: "excruciating, painful decline"
[132] Day 5: death
of the Internet? Yes." During the 1990s and early 2000s
at Amazon, he was characterized as trying to quantify all Bezos has stated "it is always Day 1" to
aspects of running the company, often listing employees on
describe his growth mindset.[130][131]
spreadsheets and basing executive decisions on data.[133] To
push Amazon forward, Bezos developed the mantra "Get Big
Fast", which spoke to the company's need to scale its
operations and establish market dominance.[34] He favored diverting Amazon profits back into the company
in lieu of allocating it amongst shareholders in the form of dividends.[109]
Bezos uses the term "work–life harmony" instead of the more standard work–life balance because he
believes balance implies that you can have one and not the other.[134] He believes that work and home life
are interconnected, informing and calibrating each other.[134] Journalist Walt Mossberg dubbed the idea that
someone who cannot tolerate criticism or critique shouldn't do anything new or interesting "The Bezos
Principle".[135] Bezos does not schedule early morning meetings and enforces a two-pizza rule–a preference
for meetings to be small enough to where two pizzas can feed everyone in the board room.[136] When
interviewing candidates for jobs at Amazon he has stated he considers three inquiries: can he admire the
person, can the person raise the common standard, and under what circumstances could the person become
exemplary.[137]
He meets with Amazon investors for a total of only six hours a year.[136] Instead of using PowerPoints,
Bezos requires high-level employees to present information with six-page narratives.[138] Starting in 1998,
Bezos publishes an annual letter for Amazon shareholders wherein he frequently refers to five principles:
focus on customers not competitors, take risks for market leadership, facilitate staff morale, build a company
culture, and empower people.[139][140] Bezos maintains the email address "jeff@amazon.com" as an outlet
for customers to reach out to him and the company.[141] Although he does not respond to the emails, he
forwards some of them with a question mark in the subject line to executives who attempt to address the
issues.[141] Bezos has cited Warren Buffett (of Berkshire Hathaway), Jamie Dimon (of JPMorgan Chase),
and Bob Iger (of Walt Disney) as major influences on his leadership style.[142]
Recognition
In 1999, Bezos received his first major award when Time named him Person of the Year.[143]
In 2008, he was selected by U.S. News & World Report as one of America's best leaders.[144]
Bezos was awarded an honorary doctorate in science and technology from Carnegie Mellon
University in 2008.[145]
In 2011, The Economist gave Bezos and Gregg Zehr an Innovation Award for the Amazon
Kindle.[146]
In 2012, Bezos was named Businessperson of the Year by Fortune.[147]
He is also a member of the Bilderberg Group and attended the 2011 Bilderberg conference in
St. Moritz, Switzerland,[148] and the 2013 conference in Watford, Hertfordshire, England. He
was a member of the Executive Committee of The Business Council for 2011 and 2012.[149]
In 2014, he was ranked the best-performing CEO in the world by Harvard Business
Review.[150]
He has also figured in Fortune's list of 50 great leaders of the world for three straight years,
topping the list in 2015.[151]
In September 2016, Bezos received a $250,000 prize for winning the Heinlein Prize for
Advances in Space Commercialization, which he donated to the Students for the Exploration
and Development of Space.[152]
In February 2018, Bezos was elected to the National Academy of Engineering for "leadership
and innovation in space exploration, autonomous systems, and building a commercial pathway
for human space flight".[153]
In March 2018, at the Explorers Club annual dinner, he was awarded the Buzz Aldrin Space
Exploration Award in recognition of his work with Blue Origin.[123]
He received Germany's 2018 Axel Springer Award for Business Innovation and Social
Responsibility.[154] Time magazine named him one of the 100 most influential people in the
world in their 2018 listing.[155]
Wealth
Bezos first became a millionaire in 1997 after
Annual estimates of Jeff Bezos's net worth[b]
raising $54 million through Amazon's initial public
offering (IPO).[156] He was first included on the Year Billions Change Year Billions Change
Forbes World's Billionaires list in 1999 with a 1999 10.1 0.0% 2009 6.8 17.7%
registered net worth of $10.1 billion.[157] His net 2000 6.1 40.5% 2010 12.6 85.2%
worth decreased to $6.1 billion a year later, a
40.5% drop.[158] His wealth plummeted even more 2001 2.0 66.6% 2011 18.1 43.6%
the following year, dropping 66.6% to 2002 1.5 25.0% 2012 23.2 28.2%
$2.0 billion.[159] He lost $500 million the 2003 2.5 66.6% 2013 28.9 24.5%
following year, which brought his net worth down
to $1.5 billion.[160] The following year, his net 2004 5.1 104.0% 2014 30.5 5.5%
worth increased by 104% to $2.5 billion.[161] From 2005 4.1 5.8% 2015 50.3 60.9%
2005 to 2007, he quadrupled his net worth to
2006 4.3 10.4% 2016 45.2 10.1%
$8.7 billion.[162] After the financial crisis and
succeeding economic recession, his net worth 2007 8.7 102.3% 2017 72.8 61.6%
would decrease to $6.8 billion—a 17.7% 2008 8.2 5.7% 2018 112.0 53.8%
drop.[163][164] His wealth rose by 85.2% in 2010,
Main data source: Forbes World's Billionaires Estimates
leaving him with $12.6 billion. This percentage Additional reference(s): Bloomberg Billionaires Index
increase ascended him to the 43rd spot on the
ranking from 68th.[163][165]
After a rumor broke out that Amazon was developing a smartphone, Bezos's net worth rose to $30.5 billion
in 2014.[166][167] A year later, Bezos entered the top ten when he increased his net worth to a total of
$50.3 billion.[168] Bezos rose to be the 5th richest person in the world hours before market close; he gained
$7 billion in one hour.[168] By the time the Forbes list was calculated in March 2016, his net worth was
registered at $45.2 billion.[169] However, just months later in October 2016, his wealth increased by
$16.2 billion to $66.5 billion unofficially ranking him the third richest person in the world behind Warren
Buffett.[170] After sporadic jumps in Amazon's share price, in July 2017 he briefly unseated Microsoft
cofounder Bill Gates as the wealthiest person in the world.[171]
Bezos would continue to sporadically surpass Gates throughout

the month of October 2017 after Amazon's share price
fluctuated.[172] His net worth surpassed $100 billion for the first
time on November 24, 2017, after Amazon's share price
increased by more than 2.5%.[173] When the 2017 list was
issued, Bezos's net worth was registered at $72.8 billion, adding
$27.6 billion from the previous year.[174] Bezos was officially
ranked as the third wealthiest person in the world up from the
The net worth of Jeff Bezos from 1999 to 5th spot in 2016.[174] His wealth's rapid growth from 2016 to
2018 as estimated by Forbes magazine, in 2017 sparked a variety of assessments about how much money
the nominal U.S. dollar. His net worth is Bezos earned on a controlled, reduced time scale. On October
calculated in the billions by March of each 10, 2017, he made an estimated $6.24 billion in 5 minutes,
year. slightly less than the annual Gross Domestic Product of
Kyrgyzstan.[175]
On March 6, 2018, Bezos was officially designated the wealthiest person in the world with a registered net
worth of $112 billion.[176] He unseated Bill Gates ($90 billion) who was $6 billion ahead of Warren Buffett
($84 billion), ranked third.[177] He is considered the first registered centi-billionaire (not adjusted for
inflation).[c]
His wealth, in 2017–18 terms, equaled that of 2.7 million Americans.[183] Bezos's net worth increased by
$33.6 billion from January 2017 to January 2018. This increase outstripped the economic development (in
GDP terms) of more than 96 countries around the world.[184] During March 9, Bezos earned $230,000 every
60 seconds.[185] The Motley Fool estimated that if Bezos had not sold any of his shares from its original
public offering in 1997, his net worth would sit at $181 billion in 2018.[186] According to Quartz, his net
worth of $150 billion in July 2018 was enough to purchase the entire stock markets of Nigeria, Hungary,
Egypt, Luxembourg, and Iran.[187] Following the report by Quartz, Amazon workers in Poland, (Germany),
and Spain participated in demonstrations and labor strikes to draw attention to his growing wealth and the
lack of compensation, labor rights, and satisfactory working conditions of select Amazon workers.[188] On
July 17, 2018 he was designated the "wealthiest person in modern history"[d] by the Bloomberg Billionaires
Index,[191] Fortune,[192] MarketWatch,[193] The Wall Street Journal,[194] and Forbes.[190]
In 2019, Bezos's wealth was reduced by his divorce from his wife MacKenzie Bezos.[195][196] According to
Forbes, had the Washington state common law applied to their divorce without a prenuptial agreement,
Bezos's wealth could have been equitably divided with his ex-wife,[197][198] however she eventually
received 25% of Bezos's Amazon shares, valued at approximately $36 billion, making her the third richest
woman in the world. Bezos retained his interest in The Washington Post and Blue Origin, as well as voting
control of the shares received by his ex-wife.[199]
In June 2019, Bezos purchased three adjoining apartments overlooking Madison Square Park in Manhattan,
including a penthouse, for a combined total of US$80 million, making this one of the most expensive real
estate purchases within New York City in 2019.[200]
In February 2020, Bezos purchased the Warner Estate from David Geffen for $165 million,[201][202] a record
price paid for a residence in the Los Angeles area. The previous record high price of $150 million was paid
by Lachlan Murdoch.[201] During the COVID-19 pandemic, it was reported that Bezos' fortune had grown
by $24bn, citing a surge in demand from households on lockdown shopping on Amazon.[203]
Personal life
In 1992, Bezos was working for D. E. Shaw in Manhattan when he met novelist MacKenzie Tuttle, who was
a research associate at the firm; the couple married a year later.[30][204] In 1994, they moved across the
country to Seattle, Washington, where Bezos founded Amazon.[205] Bezos and his now ex-wife MacKenzie
are the parents of four children: three sons, and one daughter adopted from China.[68][206]
In March 2003, Bezos was one of three passengers in a helicopter that crashed in West Texas after the craft's
tail boom hit a tree.[207] Bezos sustained minor injuries and was discharged from a local hospital the same
day.[25]
In 2016, Bezos played a Starfleet official in the movie Star Trek Beyond, and joined the cast and crew at a
San Diego Comic-Con screening.[208] He had lobbied Paramount for the role and apropos of Alexa and his
personal/professional interest in speech recognition. His one line consisted of a response to an alien in
distress: "Speak Normally." In his initial discussion of the project which became Alexa with his technical
advisor Greg Hart in 2011, Bezos told him that the goal was to create "the Star Trek computer." [209]
On January 9, 2019, Bezos and his wife of 25 years, MacKenzie, announced on Twitter their intent to
divorce after a "long period" of separation.[210][211][212] On April 4, 2019, the divorce was finalized, with
Bezos keeping 75% of the couple's Amazon stock and MacKenzie getting the remaining 25% ($35.6 billion)
in Amazon stock. However, Bezos would keep all of the couple's voting rights.[213]
On February 7, 2019, Bezos published an online essay in which he accused American Media, Inc. owner
David Pecker of "extortion and blackmail" for threatening to publish intimate photos of Bezos and Lauren
Sánchez, if he did not stop his investigation into how his text messages and other photos had been leaked to
the National Enquirer.[214][215]
Politics
According to public campaign finance records, Bezos supported the
electoral campaigns of Patty Murray and Maria Cantwell, two
Democratic U.S. senators from Washington. He has also supported
U.S. representative John Conyers, as well as Patrick Leahy and
Spencer Abraham, U.S. senators serving on committees dealing with
Internet-related issues.[216] Jeff Bezos and MacKenzie Bezos have
supported the legalization of same-sex marriage, and in 2012
contributed $2.5 million to Washington United for Marriage, a group
supporting a yes vote on Washington Referendum 74, which Indian Prime Minister Narendra Modi
presenting the USIBC Global
affirmed a same-sex marriage law enacted in the state.[217] Bezos
Leadership Award to Bezos, in
donated $100,000 towards a movement against a Washington state
Washington, D.C. on June 7, 2016
income tax in 2010 for "top earners." [216] In 2012, he donated to
Amazon's political action committee (PAC),[216] which has given
$56,000 and $74,500 to Democrats and Republicans, respectively.[218]
After the 2016 presidential election, Bezos was invited to join Donald Trump's Defense Innovation Advisory
Board, an advisory council to improve the technology used by the Defense Department. Bezos declined the
offer without further comment.[42][219] Trump has repeatedly attacked Bezos via Twitter, accused Bezos of
avoiding corporate taxes, gaining undue political influence, and undermining his presidency by spreading
"fake news."[220][221] Bezos has repeatedly joked about using his rocket company to send Donald Trump
into outer space.[222][223]
In 2014, Amazon won a bid for a cloud computing contract with the CIA valued at $600 million.[224] A
2018, $10 billion contract known as the Joint Enterprise Defense Infrastructure (JEDI) project, this time
with the Pentagon, was allegedly written up in a way that favors Amazon.[225] Controversy over this was
raised when General James Mattis accepted a headquarters tour invitation from Bezos and co-ordinated the
deal through Sally Donnelly, a lobbyist who previously worked for Amazon.[226] In November 2019, when
the contract was awarded to Microsoft instead, Amazon filed a lawsuit with allegations that the bidding
process was biased.[227][228] Despite Bezos's support for an open borders policy towards immigrants,
Amazon has actively marketed facial recognition software to U.S. Immigration and Customs Enforcement
(ICE).[229]
In 2019, a political action committee linked to Bezos spent over $1 million in an unsuccessful attempt to
defeat activist Kshama Sawant in Seattle's city council election.[230]
Saudi hacking claim
In March 2018, Bezos met in Seattle with Mohammad bin Salman, the crown prince and de facto ruler of
Saudi Arabia, to discuss investment opportunities for Saudi Vision 2030.[231] In March 2019, Bezos's
security consultant accused the Saudi government of hacking Bezos's phone. According to BBC, Bezos's top
security staffer, Gavin de Becker, "linked the hack to the Washington Post's coverage of the murder of Saudi
writer Jamal Khashoggi at the Saudi consulate in Istanbul." Khashoggi, a Saudi journalist and dissident was
employed as a writer at the Washington Post, owned by Bezos. Khashoggi was killed in late 2018, in
Turkey's Saudi consulate for his critical stance and journalism against the Saudi government and its
leader.[232]
On January 2020, The Guardian reported that hack was initiated before the murder but after Khashoggi
wrote critically about the crown prince in the Washington Post. Forensic analysis of Bezos's mobile phone
conducted by advisory firm FTI Consulting, concluded it "highly probable" that the hack was achieved
using a malicious file hidden in a video sent in a WhatsApp message to Bezos from the personal account of
the crown prince on May 1, 2018.[233][234] Saudi Arabia has denied the claim.[235]
Philanthropy
Bezos donated to the Fred Hutchinson Cancer Research Center
several times between 2009 and 2017.[236] In 2013, he pledged
$500,000 to Worldreader, a non-profit founded by a former Amazon
employee.[237]
In September 2018, Business Insider reported that Bezos was the

only one of the top five billionaires in the world who had not signed
the Giving Pledge, an initiative created by Bill Gates and Warren
Buffett that encourages wealthy people to give away a majority of
their wealth.[238] That same month, Janet Camarena, director of Bezos funded the retrieval of these
transparency initiatives at Foundation Center, was quoted by CNBC F-1 engine parts from the bottom of
as having questions about Bezos’ new fund, including the fund's the Atlantic Ocean in 2015,
structure and how exactly it will be funded.[239] eventually donating them to the
Seattle Museum of Flight. They are
On May 23, 2017, Bezos gave $1 million to the Reporters from Apollo 16 (above) and Apollo 12
Committee for Freedom of the Press, which provides pro bono legal (below).
services for American journalists.[240] On June 15, 2017, he posted a
message on Twitter asking for ideas for philanthropy: "I'm thinking
about a philanthropy strategy that is the opposite of how I mostly spend my time—working on the long
term".[13] At the time of the post, Bezos's lifetime spending on charitable causes was estimated to be
$100 million.[13] Multiple journalists responded by asking Bezos to pay higher wages to Amazon warehouse
workers.[241][242] A year later in June, he tweeted that he would announce two philanthropic foci by the end
of summer 2018.[243] Bezos announced in September 2018 that he would commit approximately $2 billion
to a fund to deal with American homelessness and establish a network of non-profit preschools for low
income communities.[244] As part of this announcement, he committed to establishing the "Day 1 Families
Fund" to finance "night shelters and day care centers for homeless families" and the "Day 1 Academies
Fund" for early childhood education.[245][246]
In January 2018, Bezos made a $33 million donation to TheDream.US, a college scholarship fund for
undocumented immigrants brought to the United States as minors.[247] In June 2018, Bezos donated to
Breakthrough Energy Ventures, a private philanthropic fund founded by Bill Gates aimed at promoting
emissions-free energy.[248] In September 2018, Bezos donated $10 million to With Honor, a nonpartisan
organization that works to increase the number of veterans in political office.[249]
On February 17, 2020, Jeff Bezos pledged $10 billion to combat climate change through the Bezos Earth
Fund.[250] Bezos also donated $100 million to food banks through Feeding America during the COVID-19
pandemic; critics pointed out that this represented less than 0.1% of his fortune during a time Amazon was
seeing growth in sales.[251][252][253]
See also
List of Princeton University alumni
List of richest Americans in history
List of Time Person of the Year recipients
Notes
a. BAY-zohss
b. All currency figures expressed in the United States dollar (US$) in nominal terms.
c. Although Bill Gates momentarily surpassed the $100 billion net worth mark in April 1999
before the Dot-com bubble,[178] Bezos was the first to register $100 billion with major wealth
indexes and has retained the wealth for longer than Gates's three weeks.[179][180][181][182]
d. Many calculations of Bezos's wealth during the late 2010s were not adjusted for inflation.
When he was designated the "world wealthiest person" on March 6, 2018, the Forbes The
World's Billionaires list stipulated that although Bezos was the first centi-billionaire (i.e.
+US$100 billion in net worth), it was Bill Gates who had the most money when taken in real
terms.[189] In such terms, Gates had $150 billion while Bezos had $100 billion. However, in
July 2018, the net worth of Bezos officially surpassed the $150 billion mark, which led most
major wealth indexes to label him the wealthiest person in modern history (post-1982).[190]
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coming together in a new coalition. We will form a network of private capital committed to
building a structure that will allow informed decisions to help accelerate the change to the
advanced energy future our planet needs. Success requires a partnership of increased
government research, with a transparent and workable structure to objectively evaluate those
projects, and committed private-sector investors willing to support the innovative ideas that
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-charity-food-banks-feeding-america). Vox. Retrieved April 15, 2020.
Sources
Robinson, Tom (2010). Jeff Bezos: Amazon.com Architect. ABDO Publishing.
ISBN 9781604537598.
Further reading
Boyle, Alan (May 29, 2018). "Jeff Bezos: 'We will have to leave this planet ... and it's going to
make this planet better' " (https://www.geekwire.com/2018/jeff-bezos-isdc-space-vision).
GeekWire. Retrieved May 31, 2018.
Davenport, Christian. The Space Barons: Elon Musk, Jeff Bezos, and the Quest to Colonize
the Cosmos. PublicAffairs (2018). ISBN 978-1610398299.
Döpfner, Mathias S. (March 28, 2018). "Jeff Bezos reveals what it's like to build an empire" (htt
p://www.businessinsider.com/jeff-bezos-interview-axel-springer-ceo-amazon-trump-blue-origin-
family-regulation-washington-post-2018-4). Business Insider. Retrieved April 29, 2018.
Fernholz, Tim. Rocket Billionaires: Elon Musk, Jeff Bezos, and the New Space Race.
Houghton Mifflin Harcourt (2018). ISBN 978-1-328-66223-1.
Wingfield, Nick (January 12, 2018). "Jeff Bezos, Mr. Amazon, Steps Out" (https://www.nytimes.
com/2018/01/12/technology/jeff-bezos-amazon.html). The New York Times. Retrieved April 29,
2018.
Wofford, Ben (April 22, 2018). "Inside Jeff Bezos's Washington D.C. Life" (https://www.washing
tonian.com/2018/04/22/inside-jeff-bezos-dc-life). Washingtonian. Retrieved April 29, 2018.
External links
Jeff Bezos (https://www.ted.com/speakers/jeff_bezos) at TED
Appearances (https://www.c-span.org/person/?jeffbezos) on C-SPAN
Jeff Bezos (https://charlierose.com/videos/2495) on Charlie Rose
"Jeff Bezos collected news and commentary" (http://topics.nytimes.com/top/reference/timestop
ics/people/b/jeffrey_p_bezos/index.html). The New York Times.
Bezos Expeditions (http://www.bezosexpeditions.com/)
Forbes Profile (https://www.forbes.com/profile/jeff-bezos/)
Honorary titles
Preceded by World's richest person Succeeded by
Bill Gates 2018 Present
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Jeff Bezos

Jeffrey Preston Bezos (/ˈbeɪzoʊs/;[a][2] né Jorgensen; born January

Born in Albuquerque and raised in Houston and later Miami, Bezos

In late 1993, Bezos decided to establish an online bookstore.[31] He

In March 2018, Bezos dispatched Amit Agarwal, Amazon's global senior

In 2015, Bezos announced that a new orbital launch vehicle was

In December 2017, New Shepard successfully flew and landed

The Washington Post

Bezos used what he called a "regret-minimization "Day 1" Management Philosophy

Bezos would continue to sporadically surpass Gates throughout

Saudi hacking claim

In September 2018, Business Insider reported that Bezos was the

Retrieved from "https://en.wikipedia.org/w/index.php?title=Jeff_Bezos&oldid=958711954"

This page was last edited on 25 May 2020, at 09:46 (UTC).

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