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Who Is Jeff Bezos? Wiki, Bio, Age, Early Life, Wife & Children, Career, Net Worth, And Many More Facts You Need To Know

Wiki

Jeffrey Preston Bezos [born January 12, 1964] is an American industrialist, media owner and investor. He is best known as the founder, CEO, and president of online retail company Amazon. Bezos, the first billionaire on the Forbes Wealth Index, has been the richest person in the world since 2017 and was named the “richest man in modern history” after his net worth rose to $ 150 billion in July. of 2018. In September 2018, Forbes described him as “much richer than anyone else on the planet,” adding $ 1.8 billion to his net worth when Amazon became the second company in history to reach a market capitalization of $ 1 trillion. Born in Albuquerque and raised in Houston and later in 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 road trip between New York City and Seattle. The company started as an online bookstore and has since expanded to a wide variety of other e-commerce products and services, including video and audio streaming, cloud computing, and artificial intelligence. It is currently the world’s largest online sales company, the largest Internet company by revenue, and the world’s largest provider of virtual assistants and cloud infrastructure services through its branch of Amazon Web Services. . Bezos founded the aerospace manufacturer and suborbital space flight services company Blue Origin in 2000. A test flight by Blue Origin first landed in space successfully in 2015, and the company has future plans to start a human suborbital space flight. commercial. He also bought the leading US newspaper The Washington Post in 2013 for $ 250 million in cash, and manages many other investments through his venture capital firm Bezos Expeditions.

Age

He is 56 years old.

Early Life

Bezos was born Jeffrey Preston Jorgensen in Albuquerque, New Mexico, on January 12, 1964, the son of Jacklyn and Ted Jorgensen At the time of his birth, his mother was a 17-year-old high school student and his father was a bike shop owner. After his parents divorced, his mother married Cuban immigrant Miguel “Mike” Bezos in April 1968. Shortly after the wedding, Mike adopted four-year-old Jorgensen, whose surname was then changed to Bezos. 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.Bezos’ maternal grandfather was Lawrence Preston Gise, a regional director of the U.S. Atomic Energy Commission (AEC) in Albuquerque. 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). His maternal grandmother was Mattie Louise Gise (née Strait), through whom he is a cousin of country singer George Strait.

Bezos often displayed scientific interests and technological proficiency, and he once rigged an electric alarm to keep his younger siblings out of his room.The family moved to Miami, Florida, where Bezos attended Miami Palmetto High School in nearby Pinecrest, Florida.[ While Bezos was in high school, he worked at McDonald’s as a short-order line cook during the breakfast shift. He attended the Student Science Training Program at the University of Florida. He was high school valedictorian, a National Merit Scholar and a Silver Knight Award winner in 1982. 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”. 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. 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).

Wife & Children

MacKenzie Bezos is the wife of Jeff Bezos. She is a famous American novelist.

Jeff has four children, three are children, and the couple have an adopted daughter from China. The oldest son is Prezton, who was born in 2000. He is followed by two sons and then the adopted daughter from China is the youngest.

Jeff Bezos’ family

Bezos was born and bought in California. Her father was a financial planner, while her mother was a housewife. For his studies, he attended the Hotchkiss School in Connecticut and then graduated from Princeton University. Mackenzie has taken a writing course with writer Toni Morrison, who commented that she was one of the best writers in the class. He also won the 2006 American Book Award. Some of his famous books are Traps and The Evidence of Luther Albright.

Jeff Bezos Brothers

Unlike his stepbrother Jeff Bezos, Mark Bezos has a completely different perspective on life. Mark Bezos works at Robin Hood. He is also part of the New York City anti-poverty charity and the assistant captain of a volunteer fire company in the New York suburbs. The only similarity between the two is that they believe that “Not every day they will offer us the opportunity to save someone’s life, but every day they offer us the opportunity to affect someone’s life.” Mark had made occasional appearances in Jeff’s biographies and interviews, but a simple, shy Mark keeps a low profile.

Career

After Bezos graduated from Princeton University in 1986, he was offered jobs at Intel, Bell Labs, and Andersen Consulting, among others. He first worked at Fitel, a new fintech telecommunications company, where he was commissioned to build a network for international trade. Bezos was promoted to chief development officer and director of customer service thereafter.  He moved into the banking industry when he became a product manager at the Bankers Trust. He worked there from 1988 to 1990.  He then joined DE Shaw & Co, a newly founded hedge fund with a strong emphasis on mathematical modeling in 1990 and worked there until 1994. Bezos became the fourth senior vice president of DE Shaw at the age of 30.

Amazon

In 1993 Bezos decided to establish an online bookstore.  He quit his job at D. E. Shaw and founded Amazon in his garage on July 5, 1994, after writing his business plan on a cross-country trip from New York City to Seattle. 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. He accepted an estimate of $ 300,000 from his parents and invested in Amazon. He warned many of the early investors that there was a 70% chance that Amazon would fail or fail. Although Amazon was originally an online bookstore, Bezos had always planned to expand to other products.  Three years after Bezos founded Amazon, he went public with an initial public offering (IPO).In response to critical reports from Fortune and Barron’s, Bezos argued that Internet growth would outpace competition from larger book retailers like Borders and Barnes & Noble.

In 1998, Bezos branched out into online music and video sales, and by the end of the year had expanded the company’s products to include a variety of other consumer goods. Bezos used the $ 54 million raised during the company’s share offering in 1997 to finance the aggressive acquisition of smaller competitors. In 2000, Bezos borrowed $ 2 billion from banks, as his cash balances fell to just $ 350 million. In 2002, Bezos led Amazon to launch Amazon Web Services, which collected data from weather channels and website traffic. In late 2002, Amazon’s rapid spending caused financial problems when revenues stagnated. After the company nearly filed for bankruptcy, it closed distribution centers and laid off 14% of Amazon’s workforce.  In 2003, Amazon recovered from financial instability and made a profit of $ 400 million. In November 2007, Bezos released the Amazon Kindle.  According to a 2008 Time profile, Bezos wanted to create a device that would allow a “flow state” in reading similar to the video game experience. In 2013, Bezos obtained a $ 600 million contract with the Central Intelligence Agency (CIA) on behalf of Amazon Web Services.  In October of that year, Amazon was recognized as the world’s largest online shopping retailer.

In May 2016, Bezos sold just over a million shares of his stake in the company for $ 671 million, the largest sum he had raised for selling some of his Amazon shares. On August 4, 2016, Bezos sold another million of his shares for $ 756.7 million. A year later, Bezos hired 130,000 new employees when hiring at the company’s distribution centers increased.  As of  January 19, 2018, its stock holdings of Amazon had appreciated by just over $ 109 billion; Months later, he began selling shares to raise cash for other companies, notably Blue Origin. On January 29, 2018, he appeared in Amazon’s Super Bowl commercial. ​​On February 1, 2018, Amazon reported its highest profit with quarterly earnings of $ 2 billion. Due to Alibaba’s growth in China, Bezos has often expressed interest in expanding Amazon to India. On July 27, 2017, Bezos momentarily became the world’s richest person over Microsoft co-founder Bill Gates when his estimated net worth rose to just over $ 90 billion. His wealth topped $ 100 billion for the first time on November 24, 2017, and Forbes formally named him the richest person in the world on March 6, 2018, with a net worth of $ 112 billion.

In March 2018, Bezos sent Amit Agarwal, Amazon’s senior global vice president, to India with $ 5.5 billion to locate operations on the company’s supply chain routes. Later in the month, the President of the United States, Donald Trump, accused Amazon, and Bezos, specifically, of avoiding sales tax, misuse of postal routes and anti-competitive business practices. Amazon’s stock price fell 9% in response to negative comments from the president; This reduced Bezos’ personal wealth by $ 10.7 billion. Weeks later, Bezos recouped his losses when academic reports from Stanford University indicated that Trump could do little to regulate Amazon in any meaningful way. During July 2018, several members of the US Congress. USA They asked Bezos to detail the applications for Amazon’s facial recognition software, Rekognition.  In addition, statements by the Trump administration, in favor of repealing the antitrust law known as the Supreme Decree, have been predicted to help Amazon acquire the Landmark Theater chain.

Criticism of Amazon’s business practices continued in September 2018 when Senator Bernie Sanders introduced the Stop Bad Employers Act by reducing subsidies to zero (Stop BEZOS) and accused Amazon of receiving corporate welfare. This followed revelations by the nonprofit group New Food Economy, which found that one-third of Amazon workers in Arizona and one-tenth of Amazon workers in Pennsylvania and Ohio depended on food stamps. As he prepared to introduce the bill, Sanders opined, “Instead of trying to explore Mars or go to the moon, how about Jeff Bezos pay his workers a living wage?” He later said: “Bezos could play a profound role. If I said today that no one who works at Amazon will receive less than a living wage, he would send a message to every corporation in the United States.”  Sanders’ efforts elicited an Amazon response pointing to the 130,000 jobs it created at Amazon. 2017 and called the $ 28,446 figure for their median salary “misleading,” since it included part-time workers. [62] However, Sanders replied that the companies his proposal is targeting have increasingly focused on part-time workers to escape benefit obligations. On October 2, 2018, Bezos announced a company-wide salary increase, which Sanders applauded. US workers who were paid the minimum wage had risen to $ 15 an hour, a decision that was interpreted as supporting the Fight for $ 15 movement.

Blue Origin

In September 2000, Bezos founded Blue Origin, a human spaceflight startup company. Bezos has long expressed an interest in space travel and the development of human life in the solar system. 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. The 18-year-old Bezos stated that he wanted to preserve Earth from overuse through resource depletion. 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. 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. 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. In May 2013, Bezos met with Richard Branson, chairman of Virgin Galactic, to discuss commercial spaceflight opportunities and strategies. He has been compared to Branson and Elon Musk as all three are billionaires who prioritize spaceflight among their business interests. In 2015, Bezos announced that a new orbital launch vehicle was under development and would make its first flight in the late-2010s. 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. He has repeatedly called for increased inter-space energy and industrial manufacturing to decrease the negative costs associated with business-related pollution.In December 2017, New Shepard successfully flew and landed dummy passengers, amending and pushing its human space travel start date into late 2018. To execute this program, Blue Origin built six of the vehicles to support all phases of testing and operations: no-passenger test flights, flights with test passengers, and commercial-passenger weekly operations. 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. 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. He announced that New Shepard would begin transporting humans into sub-orbital space by November 2018. In July 2018, it was announced that Bezos had priced commercial spaceflight tickets from $200,000 to $300,000 per person.

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 newspaper. The sale closed on October 1, 2013, and Nash Holdings took control.  In March 2014, Bezos made his first significant change to The Washington Post and erected the online payment wall for subscribers to several local US newspapers. USA In Texas, Hawaii and Minnesota. In January 2016, Bezos set out to reinvent the newspaper as a media and technology company by rebuilding its digital media, mobile platforms, and analytics software. During the first years of ownership, Bezos was accused of having a possible conflict of interest with the newspaper. Bezos and the newspaper’s editorial board have dismissed allegations that he unfairly controlled the newspaper’s content and Bezos maintains the newspaper’s independence.  After a surge in online readership in 2016, the newspaper was profitable for the first time since the purchase was made by Bezos in 2013.

Bezos Expeditions

Bezos makes personal investments through his venture capital vehicle, Bezos Expeditions. 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, valued at approximately $ 3.1 billion in 2017. He also invested in Unity Biotechnology, a life extension research firm that hopes to slow or stop the aging process. Bezos participates in the healthcare sector, which includes investments in Unity Biotechnology, Grail, Juno Therapeutics and ZocDoc.In January 2018, an announcement was made about Bezos’ role within an unnamed new healthcare company. This company, later called Haven, is expected to be a partnership between Amazon, JPMorgan and Berkshire Hathaway. Bezos also supports philanthropic efforts through direct donations and non-profit projects funded by Bezos Expeditions. Bezos used Bezos Expeditions to fund various philanthropic projects, including an Innovation Center at the Seattle Museum of History and Industry and the Bezos Center for Neural Circuit Dynamics at the Princeton Neuroscience Institute. In 2013, Bezos Expeditions funded the recovery of two first-stage Rocketdyne F-1 Saturn V engines from the Atlantic Ocean floor. They were positively identified as belonging to the S-1C stage of the Apollo 11 mission since July 1969. The engine is currently on display at the Seattle Museum of Flight.

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”.During the 1990s, Bezos earned a reputation for relentlessly pushing Amazon forward, often at the expense of public charity and social welfare. 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. Throughout the early 2000s, he was perceived to be geeky or nerdy.  Bezos was seen by some as needlessly quantitative and data-driven. 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.” 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. Bezos has been characterized as a notoriously opportunistic CEO who operates with little concern for obstacles and externalities.

VIn the early 2010s, Bezos solidified his reputation for aggressive business practices, and his public image began to change. Bezos began wearing tailored clothing; He trained with weights, followed a regulated diet, and began to freely spend his money. His physical transformation has been compared to Amazon’s transformation; it is often referred to as the company metonym. His physical appearance increased the public’s perception of him as a symbolically dominant figure in business and popular culture, where he has been parodied as an entrepreneurial super villain.  Since 2017, Kyle Mooney and Steve Carell portrayed him on Saturday Night Live, generally as a dominant and undermining figure.  Bezos eats exotic foods, such as octopus and roasted iguana. In May 2014, the International Trade Union Confederation named Bezos the “worst boss in the world”, and its Secretary General Sharan Burrow said: “Jeff Bezos represents the inhumanity of employers promoting the model American corporate. ”  In the 2010s, Bezos reversed his reputation for being reluctant to spend money on non-business expenses. His relative lack of philanthropy compared to other billionaires has generated a negative public response since 2016. Bezos is known to publicly challenge claims made in critical articles, as exemplified in 2015 when he sent out a memorandum to employees denouncing a New York Times article.

Bezos used what he called a “regret minimization framework” while working at D. E. Shaw and again during Amazon’s early years. He described this philosophy of life saying, “When I am 80 years old, am I going to regret leaving Wall Street? No. Will I regret missing the beginning of the Internet? Yes.” During the 1990s and early 2000s at Amazon, he was characterized by trying to quantify all aspects of company operations, often listing employees on spreadsheets and basing executive decisions on data. To propel Amazon forward, Bezos developed the “Get Big Fast” mantra, which spoke of the company’s need to scale its operations and establish market dominance. He was in favor of diverting Amazon’s profits to the company rather than distributing them to shareholders in the form of dividends. Bezos uses the term “work-life harmony” instead of the more common work-life balance because he believes that balance implies that you can have one and not the other.  He believes that work and home life are interconnected, mutually informing and calibrating each other. Journalist Walt Mossberg dubbed the idea that someone who cannot tolerate criticism or criticism should not do anything new or interesting “The Bezos Principle”. Bezos does not schedule meetings in the early morning and applies a two-pizza rule, a preference for meetings to be small enough so that two pizzas can feed everyone in the boardroom. When interviewing job candidates at Amazon, you have stated that you consider three questions: can you admire the person, can you raise the common standard, and under what circumstances could you be exemplary?

He meets with Amazon investors for a total of just six hours a year.  Instead of using PowerPoints, Bezos requires high-level employees to present information with six-page narratives. Beginning in 1998, Bezos publishes an annual letter to Amazon shareholders in which he frequently refers to five principles: focus on customers, not competitors, take risks for market leadership, ease morale staff, build a corporate culture and empower people. Bezos maintains the email address “[email protected]” as a means for customers to contact him and the company.  Although he doesn’t respond to emails, he does send some of them with a question mark on the matter to executives trying to tackle the issues. Bezos has cited Warren Buffett (of Berkshire Hathaway), Jamie Dimon (of JPMorgan Chase) and Bob Iger (of Walt Disney) as the main influences on his leadership style.

Net Worth

$ 142.3B  as of 5_ 14_2020.

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