JEFF BEZOS
BIOGRAPHY:-
Jeff Bezos is an American entrepreneur, media proprietor, investor, and commercial astronaut. Jeff Bezos is the founder and executive of Amazon.com and the owner of ‘The Washington Post’ and the founder of the space exploration company Blue Origin. Who has previously served as the Chairman, and CEO of the company? His successful business ventures have made him one of the richest people in the world. And right now the richest person in the world is Jeff Bezos.
Full Name – Jeffrey
Preston Bezos Born – 12 January 1964
Place of Birth – Albuquerque, New Mexico, United
States of America Father’s Name – Ted Jorgensen and Miguel Bezos
Mother Name – Jacqueline Bezos
Wife – Mackenzie Scott
Children – 4 (3 sons and 1 daughter)
Profession – American EntrepreneurNet Worth – $208 billion
Company – Amazon, Blueorigin, The Washington Post, etc.
Jeff Bezos’s family life
Jeff Bezos was born on 12 January 1964 in Albuquerque, New Mexico, United States. His mother’s name is Jacqueline Bezos and he has two fathers because Jeff Bezos was born when his mother was 17 years old and he was not married at that time his father was Ted Jorgensen. And after that when his mother got married, his father is Miguel Bezos.
Jeff Bezos married Mackenzie Tuttle in 1993, Bezos D.E. in Manhattan. Shaw when met novelist Mackenzie Tuttle, a research associate at the firm. In 1994, he moved across the country to Seattle, Washington, where Bezos founded Amazon. Bezos and his now ex-wife Mackenzie are the parents of four children: three sons, and a daughter who is adopted from China.
The couple announced in January 2019 that they were divorcing, and the next day the National Enquirer published a story revealing that Bezos was having an affair with another woman. Bezos later launched an investigation into how the tabloids obtained his private text messages.
Then, in February, he posted a lengthy essay online in which he accused executives of American Media Inc. (AMI), the Enquirer’s parent company, of “extortion and bribery” to suggest that they release nude photos of Bezos. If he does not close his investigation among other demands. A Bezos-led investigation later alleged that her boyfriend’s brother leaked the texts.
On January 9, 2019, Bezos and Mackenzie announced their intention to divorce after a “long period” of separation on Twitter. On April 4, 2019, the divorce was finalized, with Bezos holding 75% of the couple’s Amazon stock and Mackenzie holding the remaining 25% ($35.6 billion) in Amazon stock. However, Bezos will retain all voting rights of the couple.
The early life of Jeff Bezos
When Bezos was 4 years old, his mother remarried Cuban immigrant Mike Bezos.
While in high school, Bezos developed the Dream Institute, a center that fostered creative thinking among young students. After graduating (1986) summa cum laude from Princeton University with degrees in electrical engineering and computer science, he joined the New York investment bank D.E. and Started a series of jobs before joining. Shaw & Company in 1990.
He moved with his family to Miami, where he learned about computers. and graduated valedictorian of his high school. During high school, he started his first business, Dream Institute, an educational summer camp for fourth, fifth, and sixth graders.
Soon named senior vice president — the firm’s youngest — Bezos was in charge of examining the Internet’s investment prospects. Its enormous potential—web usage growing by more than 2,000 percent per year—spurred his entrepreneurial imagination.
In 1994 he completed his D.E. Shaw and moved to Seattle, Washington to open a virtual bookstore. Working out of his garage with a few employees, Bezos began developing software for the site.
10 reasons for Jeff Besoz’s success
1. Jeff Bezos says the customer is the king and I am his subject. The customer should be treated like a king.
2. Expect a lot from your employee, say that I have 5 lakh employees to take care of 16 crore customers.
3. Jeff Bezos is a long-term visionary. Those who have a long-term vision.
4. Jeff Bezos Make the simple complicated, make the complex simple.
5. Jeff Bezos says that we do not want servants in our company, we want the owner.
6. Jeff says that decisions should be made as quickly as possible.
7. Jeff Bezos is an innovator who keeps on innovating.
8. Jeff Bezos says more process kills progress. That’s why there is not much process in their company, anyone can share their idea with Jeff.
9. Jeff says the focus should be on 80% product quality and 20% on promotion.
10. It is said that you should become a master of failure. After failing, you should try again.
JEFF BEZOS’S NET WORTH:-
Jeff Bezos founded e-commerce giant Amazon in 1994 from his garage in Seattle. He stepped down as CEO on July 5, 2021, to become acting chairman.
Amazon flourished during the pandemic; Revenue rose 38% to $386 billion in 2020 as people stayed home and shopped online.
In April 2020, Bezos said he would give $100 million to Feed America, a non-profit that operates food banks and food pantries across the country.
Amazon has faced criticism from US senators and the general public for its treatment of warehouse workers during the coronavirus pandemic.
He and his wife Mackenzie divorced in 2019 after 25 years of marriage, and she transferred a quarter of his 16% Amazon stake to him. Bezos is the owner of The Washington Post and Blue Origin, an aerospace company developing rockets for commercial use.
And Jeff Bezos launched his company Blue Origin on 20 July 2021 and traveled to space.
Microsoft co-founder Bill Gates’s biography dropped one spot from last year, ranking second with $90 billion, according to Forbes magazine. At the top of the list for the first time is Jeff Bezos, the founder, and CEO of Amazon. He is the first cent billion on the list with $112 billion.
BUSINESS:-
Work at McDonald’s
Jeff started his career working at Mcdonald’s. While working there, Jeff used to clean up the ketchup spilled on the floor. Once a five-gallon ketchup container exploded while at work, Jeff explains that it was his first week at work. Therefore, being new, it was cleaned by them. Jeff was very disappointed to see such behavior with him. However, Jeff had no choice but to work here.
Changed the world of shopping
In the 90s, there was a discovery that still has an impact on the world. Jeff Bezos, a Wall Street employee, was watching the Internet revolution very closely. Seeing the fast-growing internet in America, Jeff decides to leave his job and open an internet company. Then the idea of online retail comes to Jeff’s mind. Jeff lists 20 products that can be sold online. Considering the low price of books and the never-ending demand, he starts a website to sell books online.
Bumper start
The company saw the future in the first two weeks. In just two weeks, the company started earning 20 thousand dollars every week. Jeff kept investing revenue in the growth of the company. Within two months, Amazon started its business in 50 states of America. Amazon’s revenue plan was different. The company did not think of profit for 4-5 years. The stockholders of the company were upset by this. When Dotcom’s boom exploded as soon as the 21st century came, most online companies were badly affected by it, but Amazon became stronger after that. The company profited for the first time in 2001.
Jeff Bezos’s companies
Jeff Bezos, the world’s richest man, is the owner of 15 more companies besides Amazon. And has acquired a total of 108 companies.
1. Amazon –
Amazon.com, Inc. is an American multinational technology company that works on e-commerce, cloud computing, digital streaming, and artificial intelligence. It collaborates with Google, Apple, Microsoft, and Facebook in the U.S. It is one of the top five companies in the information technology industry.
2. Zappos –
Zappos was acquired by Amazon in July of 2009. This apparel and footwear selling website, a subsidiary of Amazon, is a popular apparel and footwear e-tailer in the US. In the year 2012, the website suffered a major data breach, in which hackers stole the personal information of over 24 million customers.
3. Elemental Tech –
It is a software company. Amazon Web Services acquired Elemental Tech, now called AWS AWS Elemental, in the year 2015. It is claimed to have pioneered the “use of software-based video processing to distribute and monetize video over IP networks”. In addition to the US, AWS Elemental has offices in the United Kingdom, France, Hong Kong, Singapore, Japan, China, Russia, Brazil, and India.
4. Souk.com –
Souq.com is an e-commerce marketplace based in Dubai. Amazon acquired Souq.com in March 2017, popularly described as the ‘Amazon of the Middle East.
5. Blue Origin –
Amazon CEO Jeff Bezos is also the founder of Blue Origin, a rocket company that plans to make space travel possible. Bezos reportedly pours $1 billion a year into the company through the sale of Amazon stock. Jeff Bezos launched his company Blue Origin on 20 July 2021 and traveled to space.
6. The Washington Post –
Jeff Bezos is also the owner of 140 years old newspaper ‘The Washington Post’. Nash Holdings, a private company owned by Bezos, bought the newspaper in August 2013 for $250 million.
7. Whole Foods –
In its biggest bet on stores, Amazon acquired grocery chain Whole Foods in June 2016 for $13.7 billion in cash. Whole Foods stores continue to operate under that name as a separate entity of the company. Amazon has a lot to do with Whole Foods, with the deal completing nearly a year in the next few months. Changes include price cuts, Prime-exclusive deals, free two-hour delivery on Whole Foods items in certain locations, and more.
8. I M D B –
One of the world’s most popular sources for movie, TV, and celebrity content, IMDb, also known as the Internet Movie Database, is an Amazon Inc. is a wholly-owned subsidiary. The website provides a searchable database of over 250 million data items which includes over 4 million. Movies, TV, and entertainment programs.
9. Kiva System –
Originally Kiva Systems, the robotics company was renamed Amazon Robotics after Amazon acquired it in March 2012 for $775 million. The company uses robots to carry packages in Amazon’s logistics centers and warehouses.
10. Alexa –
Alexa is a web information company. Which is now owned by Amazon. Alexa provides website information and analytics. Founded in 1996, the company was acquired by Amazon in 1999.
11. DP Review –
DPReview (Digital Photography Review) is claimed to be one of the most popular digital photography websites in the world. Amazon acquired the website in the year 2017. The website provides users with content and reviews of digital photography gear around the world. It also has an extensive global database of consumer digital cameras. There is also an open, active forum for the photography community.
12. fabric.com –
Fabric.com is also a subsidiary of Amazon Inc. Established in the year 1993 as Phoenix Textiles Group Inc. as a wholesale distributor of apparel fabrics, it launched its first website in 1999. Amazon bought the online fabric store in June 2008.
13.Woot.com –
Voot is a daily deals website. Established in the year 2004, it was acquired by Amazon in 2010. Originally, Voot only offered one product per day, today Voot offers special daily deals and other limited-time offers across seven categories, including computers, electronics, household, and sporting goods.
14. Good Reads –
Goodreads is one of the largest websites in the world for readers and book recommendations. Launched in January 2007, Goodreads was acquired by Amazon in March 2013. The website claims that it has 65 million members.
15. Tweet –
Live-streaming website Twitch is also owned by Amazon. The eCommerce giant bought the popular game-streaming service Twitch in August 2014 for $970 million.
16. Audible-
Audio-book and entertainment service Audible is also owned by Amazon. Amazon acquired Audible in 2008 for $300 million. Audible sells digital audiobooks, radio and TV programs as well as audio versions of magazines and newspapers, including The New York Times.
EDUCATION
After graduating from Princeton University in 1986, Bezos worked in computer science on Wall Street. He then worked on building a network for international business for a company called Fitel. Bezos then worked for the Bankers Trust, as the vice-president. Later he also worked for D. E. Shaw and Company in the field of computer science.
Bezos founded Amazon.com in 1994, after traveling across the country from New York to Seattle. He used to write Amazon’s business plan along the way while on tour. He started this company from his garage. His work with Amazon made him a leading dot-com entrepreneur and billionaire. In 2004, he founded a startup company called Blue Origin for human spaceflight.
Bezos is known for his interest in business process detail. As described in Condé Nast’s Portfolio.com, he is “a determined mogul on the one hand and a notorious micromanager on the other… An executive who wants to know everything about Amazon.” whether it is the specifics of the contract or how they are quoted in Amazon’s press release.
Artificial Intelligence
Artificial Intelligence (AAI) is a term coined by Jeff Bezos in the context of Artificial Intelligence. Some processing tasks, such as recognizing whether the person shown is female or male by looking at a picture, are still performed faster by humans than by computers. AI is not yet sufficient for programming such programs. AAI refers to outsourcing such parts of computer programs to humans. The principle underlying Amazon Mechanical Turk is AAI.
Regards
In 1999, Time magazine honored him with the honor of Person of the Year. In 2008, U.S. News and World Report selected him as one of America’s best leaders.
James Smithson Medal in 2016.
Axel Springer Award in 2018.
In 2008, U.S. News and World Report selected him as one of America’s best leaders.
In 1999, Time magazine honored him with the honor of Person of the Year.
Priceless thoughts
Life is too short to spend time with people who are not resourceful*
A person who can easily solve difficult problems.
A brand for a company is like its credibility for an individual. You gain credibility by trying to do difficult things.
The only way out of a tight box is to find your way out.
At Amazon, we had three big ideas that we’ve stuck to for the past 18 years, and they’ve been the reason for our success: Put the customer first. Invent. And be patient.
We don’t want to do things just because we can do them… We don’t want to do anything in vain.
There are two types of companies, those who work to charge more, and those who work to charge less. We’ll be the second one.
If we have done better than our peers in the internet space in the last 6 years, it is our laser focus on the customer experience, and that really matters, I believe, in any business. It definitely does matter in online business, where word of mouth is very powerful.
