You may know Jeff Bezos as the founder and CEO of Amazon and currently the richest man in the world, but do you know how he started his entrepreneurial journey?
Jeff Bezos was born on January 12, 1964 in Albuquerque, New Mexico. From an early age, Bezos displayed extraordinary intelligence and an insatiable curiosity about the world around him. He was an avid reader and had a knack for mathematics. This early enthusiasm for learning laid the foundation for his future endeavors.
Growing up, Bezos displayed an entrepreneurial spirit. At the age of ten, he founded his first business, Dream Academy, organizing summer camps for children. It was during these formative years that Bezos developed a keen appreciation for the value of hard work, perseverance and innovation.
After high school, Bezos attended Princeton University, where he pursued degrees in computer science and electrical engineering. His outstanding academic performance has earned him prestigious awards and scholarships. While at Princeton, Bezos was drawn to the emerging field of artificial intelligence and its potential to shape the future.
After graduating from Princeton University in 1986, Bezos began a successful career on Wall Street. He joined the prestigious investment firm DE Shaw & Co. and quickly rose through the ranks to become the youngest vice president in the firm’s history. Bezos’ time on Wall Street honed his analytical skills, strategic thinking and financial acumen. Yet, deep inside him, the seed of an idea was sprouting.
In the early 1990s, the rapid development of the Internet caught Bezos’ attention. He recognized the huge potential of this emerging technology and its ability to transform various industries. One day, while studying the exponential growth rate of the Internet, Bezos stumbled upon a startling statistic—the Internet was growing at a rate of 2,300% per year. This revelation sparked an idea that would change the course of his life forever.
Jeff quit his high-paying job on Wall Street in 1994 and decided to start his own online bookstore. He and his wife, MacKenzie Bezos, moved to Seattle, where there was a lot of tech talent and cheap electricity, and they started their entrepreneurial project in their garage. He named his company Amazon, inspired by the world’s largest river, and he hoped his company would also become the world’s largest bookstore. Using his own savings and the support of his parents, he raised about $300,000 in startup capital, and he recruited some friends and colleagues to form a small team who began developing and testing their website and software.
Jeff’s online bookstore was officially launched in July 1995. His first customer was a man from Georgia, USA, who bought a book about artificial intelligence. Jeff’s website quickly attracted many users. They were attracted by the design and functionality of his website. They could browse and search millions of books online, and they could also see reviews and recommendations from other users. , they can also enjoy low prices and fast delivery. Jeff’s website sold books to over 20 countries in the first month, his sales reached over $200,000 in the first quarter, and his website quickly became the most popular website on the Internet one.
After Amazon successfully launched its online bookstore, Jeff Bezos realized the importance of scaling operations to meet growing customer demand. He expanded the company’s offerings beyond books to include music, movies, and eventually a variety of consumer products. This diversification strategy allows Amazon to expand into new markets and attract a wider customer base.
Expansion into new product categories is accompanied by strategic acquisitions. In 1998, Amazon acquired the Internet Movie Database (IMDb), a popular online database of movies and television shows. The move not only strengthens Amazon’s influence in the entertainment industry, but also provides valuable data and insights for personalized recommendations.
Amazon went public in May 1997, just two years after its founding. The initial public offering (IPO) was a huge success, raising approximately $54 million and valuing the company at $438 million. The IPO catapulted Bezos and Amazon into the spotlight, cementing their status as e-commerce pioneers.
However, the late 1990s also marked the peak of the dot-com bubble, a period of excessive speculation and overvaluation in the technology industry. The stock prices of many Internet companies, including Amazon, reached astronomical prices before the bubble burst in 2000. Despite market turmoil, Bezos remains focused on his long-term vision and works tirelessly to build a sustainable business model.
As Amazon continues to expand its product offerings and customer base, its financial growth is undeniable. In 1999, the company surpassed $1 billion in revenue, an astonishing milestone for a young e-commerce startup. However, rapid expansion also brings challenges.
To fuel its growth, Amazon has made significant investments in infrastructure, fulfillment centers and technology. These investments, coupled with intense competition and the need for constant innovation, resulted in significant operating losses. In 2000 alone, Amazon reported a net loss of $1.4 billion. Despite these challenges, Bezos remains steadfast in his long-term vision and belief in the untapped potential of e-commerce.
Jeff’s fortune began a rapid rise in 2004 as his company embarked on a series of innovations and expansions. His company launched Amazon Cloud Computing Service, providing a reliable and affordable cloud for other websites and applications. Infrastructure, his company also launched Amazon Kindle, an e-reader that allows users to read tens of thousands of e-books on a compact device, and his company also launched Amazon Prime, a membership service, Allow users to enjoy free fast shipping, as well as unlimited online videos and music. These innovations and expansions have significantly increased Jeff’s company’s revenue and profits, and also caused Jeff’s company’s stock price and market value to rise significantly. Jeff’s wealth reached US$5.3 billion in 2004 and exceeded US$10 billion in 2006. , reaching US$16.8 billion in 2007, and dropped to US$8.5 billion in 2008. Due to the impact of the global financial crisis, his wealth rebounded to US$6.8 billion in 2009, and his wealth increased to US$12.8 billion in 2010. Dollar.
Jeff’s wealth began an even more spectacular rise in 2011, as his company embarked on more innovation and expansion. In 2011, Amazon launched its first international marketplace in India, opening its doors to a vast customer base. The move marked the beginning of Amazon’s global expansion strategy, which has since opened markets in countries such as Brazil, Germany and Japan.
Jeff’s wealth reached US$23.2 billion in 2012, US$220 billion in 2022, and US$280 billion in 2024. He became the first person in history to own more than US$200 billion, and is currently the world’s richest person. The richest people.
The growth of Jeff’s wealth has given him more resources and opportunities to realize some of his dreams and wishes, one of which is to explore space. Jeff has had a keen interest in space since he was a child. He once said that his ultimate goal is to enable humans to live and work in space. He believes that this is the future and responsibility of mankind, and he wants to contribute to this. In order to achieve this goal, Jeff founded a private space company called Blue Origin in 2000. His company’s vision is “The Earth is our home, but not our limit” and his company’s mission is “to enable space travel.” To democratize space so that humans can thrive and sustain development in space,” his company’s goal is to “build a permanent human presence in space.”
Jeff’s dream of space exploration and creation has led him to invest a lot of time and money. He sells a portion of his shares in Amazon every year to fund his space company. He once said that he spends every year About $1 billion is invested in his aerospace company. He has also said that he considers it his most important work and his most meaningful investment. He also said that he hopes that one day, he will be able to go to space himself, See the beauty and fragility of the earth, and feel the infinity and magic of space.
Jeff’s dreams of space exploration and creation have also caused him to face some personal changes and crises. In 2019, he announced his divorce from his wife MacKenzie Bezos. They married in 1993 and have experienced Jeff’s entrepreneurship and success together. the process of. He and his ex-wife reached a settlement in their divorce settlement in which his ex-wife received 4% of his Amazon shares, equivalent to about $36 billion, the largest divorce estate split in history.
In February 2021, Jeff Bezos announced his resignation as Amazon CEO, handing the torch to his successor Andy Jassy. For Bezos and the company he founded, the transition marks the end of an era and the beginning of a new chapter. Bezos’ impact on the worlds of business, technology, and innovation cannot be overstated. His relentless pursuit of customer centricity, disruptive thinking, and long-term vision has propelled Amazon to unprecedented heights. Throughout his journey, Bezos amassed a vast fortune and became one of the richest people in history.