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Jeff Bezos: What is the net worth of the Amazon founder?

Who is Jeff Bezos?

When Jeff Bezos comes up, most people immediately think of Amazon. Jeff Bezos' full name is Jeffrey Preston Bezos and was born on January 12, 1964 in Albuquerque, New Mexico. His parents divorced shortly after he was born. When Jeff was four years old, his mother married a Cuban exile. Jeff got his last name Bezos. Jeff's stepfather worked for the Exxon oil company in Texas. The family later moved to Miami, where Jeff studied electronics and computer science at Princeton University. After completing his studies, he worked for the Thai mobile communications company FITEL. He then gained experience with New York asset management companies. Together with David E. Shaw, whom he met while working for an asset management company, he developed the idea for an online book shop. Eventually he split up with Shaw and founded Amazon in 1994.

Bezos was married to MacKenzie Bezos from 1993 to 2019, with whom he has four children.

Jeff Bezos and Amazon

Bezos built a large part of his fortune at Amazon. He founded the parent company of Amazon in 1994 in Seattle, Washington state. Originally the company was just an online bookstore. Books still occupy an important place in the offerings of the online mail order company. However, the first book wasn't sold until July 1995. In the first four weeks, books were sent to customers in 50 US states and over 45 other countries. In the second month after it was founded, the young company was able to record weekly sales of US $ 20,000. The company posted annual sales of $ 15.7 million in 1996.

A year later, annual sales were already 147.8 million US dollars. The first international websites were founded in 1998. In April 1998, Amazon bought the then leading German Internet mail order book retailer ABC-Bücherdienst GmbH for a double-digit million amount. Amazon entered the German sales market with it. More deals followed over time. The range has been greatly expanded. In addition to books, CDs and technical devices, there is now fashion, over-the-counter medicines and even food. Here are some facts about Amazon:

  • Number of employees: 1,298,000
  • 2020 annual revenue: $ 386 billion
  • Sales in Germany: 29.5 billion euros

With the exception of Africa, the company is now active on all continents. The online mail order business acquired eleven Boeing 767-300 aircraft in January 2021, thereby expanding its own aircraft fleet, which until then consisted of leased cargo aircraft. Jeff Bezos announced on February 2, 2021 that he would step down as CEO of Amazon in the third quarter of 2021. Andy Jassy will then take over his position as CEO. That will hardly affect Jeff Bezos' fortune. Bezos intends to continue serving on the board of directors.

What about Jeff Bezos' fortune?

Jeff Bezos made it onto Forbes' list of the richest people in the world in 2018. He is now considered the richest person in the world. He's the first person to get one Net worth more than $ 200 billion can call his own. Also, adjusted for inflation, Bezos has the highest fortune Forbes has ever determined in the possession of a single person.

Bezos is involved in various social projects. He announced in early 2020 that he would donate $ 10 billion of his fortune to fighting climate change. To this end, he founded the Bezos Earth Fund in summer 2020 to support NGOs (non-governmental organizations), climate activists and scientists.

Amazon shares saw strong growth during the corona pandemic. This was because many people were unable to shop in stores during the lockdown and therefore ordered online. The increase in value of the shares was 70 percent. Jeff Bezos sold shares for $ 10.2 billion.

Jeff Bezos' earnings per minute

For a short time, Tesla boss Elon Musk was the richest man in the world. He had briefly overtaken Jeff Bezos. Elon Musk invested in the digital currency Bitcoin in early 2021. Since there were brief losses in the Bitcoin price, the Tesla share fell in price. Elon Musk slipped back to second place on the list of the world's richest people, while Jeff Bezos is back at the top. Both Elon Musk and Jeff Bezos' net worths fluctuate based on the prices of Tesla and Amazon stocks.

For a long time, Microsoft founder Bill Gates was considered the richest person in the world. He is still high on the list of the richest people, but has since given up his top spot. Jeff Bezos owns about $ 66 billion more than Bill Gates. After an adjustment and currency changes, Jeff Bezos' net worth is now estimated at $ 188 billion.

What does the Amazon founder actually earn per minute? According to estimates by a US magazine, Bezos scores a fortune of approximately $ 28,000 per minute. That's roughly the annual salary of an average American Amazon employee.

What does the Amazon CEO spend his money on?

What does someone as rich as Jeff Bezos actually do with his fortune? He is involved in various projects. Not only does he run the online mail order business Amazon, but he also founded the private space company Blue Origin in September 2000. In 2019, Bezos presented the Blue Moon lunar module from Blue Origin. He invests roughly $ 1 billion a year in Blue Origin. Like many people with a billion dollar fortune, Jeff Bezos has invested in real estate.

Bezos also owns a number of expensive and sometimes almost curious things:

  • Gulfstream G-650 jet
  • largest home in Washington, valued at $ 23 million
  • $ 42 million watch
  • Part of the city of Seattle valued at $ 1.5 billion
  • $ 1.6 million worth of security measures.

In addition, Jeff Bezos makes donations to various charitable projects from time to time. Despite the fact that Bezos is so rich and has amassed a large part of his fortune through Amazon, he fears that Amazon could go bankrupt at some point. (Source: Futurezone)

Jeff Bezos - involved in various other companies

Jeff Bezos has made much of his fortune from Amazon, but he also has interests in other companies that have made him fortune. According to Business Insider magazine, Bezos owns 17 percent of Amazon's shares, which can make him $ 8.9 million an hour in fortune.

In the past, Bezos recognized the potential of various companies in which he invested. These companies include Google, Business Insider, Uber, and Airbnb. He has already sold his shares in some companies. This enabled him to make high profits. Bezos has also taken over various companies with Amazon in order to open up new business areas.

What happens after Bezos withdraws from Amazon?

Bezos plans to withdraw from Amazon in the third quarter of 2021. According to Scott Galloway, a critic of the Silicon Valley giants, Jeff Bezos' influence on the world could even grow after his retirement. Bezos would have more time for private matters after his retirement, while his successor, Andy Jassy, ​​has to prepare for meetings with competition officials or attend Senate hearings. Scott Galloway suspects Bezos is leaving Amazon to prevent his successor from moving to another lucrative company.

Does Jeff Bezos continue to influence Amazon?

The question arises as to whether Jeff Bezos will still have an influence on the online mail order business he founded after his retirement. He will certainly continue to have influence and increase his fortune. The online mail order company wants to continue expanding and set up a second company headquarters in the US capital Washington. The building is said to have 22 floors and its shape is reminiscent of a double helix. The building is to be heated and cooled 100 percent with solar energy. The building should appear as if it were criss-crossed by nature.

The announcement of the construction of such a building came almost at the same time as the news of Jeff Bezos' withdrawal. Construction work on the building has already started. It is planned that 25,000 people will work there. The headquarters in Seattle are to be supplemented with the new building in Washington. The design of the new building is intended to promote creativity and innovation. The employees should work in a sustainable environment and invent new things for the customers. (Source: SPON)

How has the Amazon share developed?

While Jeff Bezos made a huge fortune in his online mail order business, those fortunes depend in part on how the company's stock performs. The share (WKN: 906866 ISIN: US0231351067) is listed in the S&P 100, S&P 500 and NASDAQ 100. You can buy the stock directly, but you can also invest in an ETF on one of these indices for better diversification. The share price fell in April 2020, but has long since recovered. It is currently weak and has suffered minor losses.

What is it about the criticism?

If you follow the news carefully, you will certainly not have missed the fact that there has been multiple negative criticism of Amazon. Bezos' management style, corporate culture and working conditions have already been criticized several times. In several countries, including Germany, the working conditions gave rise to criticism on several occasions. Among other things, the procedure for employee sick leave is criticized. In the case of sick leave, the sick days count for the entire work group. A premium can be granted if there are no sick leave in a work group. Employee pay was also a frequent reason for negative criticism.

Not the richest person ever

The richest person of all time was probably someone else: Mansa Musa. He lived in Africa, probably from 1312 to 1337. His fortune - most of which came from mining gold - is estimated at $ 400 billion. As much as Jeff Bezos and Elon Musk can only collect together. (Source: GEO)

Conclusion: Jeff Bezos is currently the richest man in the world

Jeff Bezos is the founder of the online mail order company Amazon. According to Forbes' list of the richest people, he is the first person in the world to make a fortune exceeding $ 200 billion. Adjusted net worth is estimated at $ 188 billion. Even so, Bezos still tops the Forbes list and is still considered the richest man in the world. Jeff Bezos has also invested in other companies and has made huge profits from them. In the third quarter of 2021, he will resign from his position as CEO.

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