We’ve heard of people becoming millionaires and even billionaires. However, trillionaires are something we have never heard of…until recently. Did you know that Jeff Bezos is going to become a trillionaire?
He would be the world’s first person to do so. It’s truly amazing what he has managed to accomplish. Not many people in his position would be able to do so. In fact, no one has. He is currently the richest person alive on this planet.
Well, Jeff Bezos will the first person to hit the net worth of $200 billion, in fact, he has a net worth of $190.8 billion right now. His net worth is adding up each second, and in coming years he is expected to become the first trillionaire in the history of mankind!
It’s hard to believe he started his project from a small garage and turned this into a trillion-dollar corporation. Who could have seen that coming? More importantly, how did he manage to get there? Let’s take a look at his inspiring journey. There are lessons in it for all of us. Are you ready? Then, let’s begin.
Who is Jeff Bezos?
The name speaks for itself. He is the founder of and CEO of Amazon.com, which is the biggest e-commerce platform out there. His creation has led him to become a billionaire and the richest man on the planet.
In fact, Jeff Bezos is around $90-100 billion richer than the second richest person on the planet: Bill Gates.
He was born Jeffery Preston Bezos in 1964 in New Mexico. He was born to Jacklyn Gise Jorgense, a teenage mother, and his biological father Ted Jorgensen. His mother was 16 at the time, while his father was 17.
The two were married for barely a year before they decided to split up. So it’s safe to say that Jeff Bezos was not born in the most stable of families. His mother remarried when Bezos was 4 years old. His new father was a Cuban immigrant, Mike Bezos.
He showed signs of an intelligent mind even early on. He liked to fix things and in his parent’s laboratory, he used to rig electrical contraptions. It seems Bezos was pretty fascinated with how things worked.
This love of electronics and computers is what made him so successful in the first place. He moved to Miami with his family when he was just a teenager, and he developed a love for computers there. He also graduated valedictorian of high school.
Even when he was in high school, he wanted to have a bright future. He has big dreams ever since he was a child. He had been a space nerd and wanted to save humanity by building space stations in space and preserving Earth’s nature. It was probably because of this that he launched the Blue Origin in 2000. It was a space flight services company.
Jeff Bezos was pretty passionate about space-age from a young age. He even watched a Star Trek TV serial when he was a child.
It was also around high school that he dabbled into the business world.
He started the Dream Institute, an educational summer camp for fourth, fifth, and sixth grade. His experience here probably prepared him to run a multibillion-dollar business down the lane.
It seems as if this dude knew just what to do at every step of his life. He made the most from every opportunity of his life.
Once he finished high school, he went to an Ivy League school. That’s pretty obvious, isn’t it? At this point, it was almost expected that he would end up someplace spectacular.
Anyway, so he went to Princeton and graduated summa cum laude in 1986. That’s really an achievement considering just how competitive Princeton is. Of course, this achievement is just a dot in what he was going to accomplish next.
Career in Finance
From Princeton, it was straight to Wall Street for Bezos. He worked with Fitel, Bankers Trust, and investment firm D.E. Shaw. He wowed the company by becoming its youngest vice president in 1990.
Things only seemed to be looking up from him here. However, despite having a super lucrative career in finance, he decided to venture into the unknown territory of internet marketing.
He wanted to see how things would turn out there, and in 1994, he quit his job and moved to Seattle to work there. It was probably the best decision of his life.
His journey in Amazon
When he moved there, he founded Amazon.com. Did you know he has named it after the meandering South American River? That’s pretty interesting, isn’t it? And to think, now most people associate the company with the river, instead of the other way round. In fact, more people probably know about Amazon.com than the South American River, but let’s get back to the story.
He did not establish Amazon entirely on his own. His parents helped him out a lot. They were initially skeptical about their son leaving his prestigious job and stepping into something so risky.
Jeff Bezos himself was not sure about the venture and was skeptical himself. However, his parents, seeing how passionate he was about the venture, decided to engage him. They lent him $250,000. Now, the share is worth more than $30 billion in stock.
So on July 16, 1995, he asked a bunch of his friends to beta test the website. In the months leading up to the launch, a couple of employees began to develop the software with Bezos in the garage, and pretty soon, they began to expand. In just a couple of months, they moved into a two-bedroom house with three Sun Micro stations.
The speed with which the business grew astounded even Bezos and his team. Despite no press promotion, Amazon.com managed to sell books across the US and in 45 foreign countries.
Remember, folks; this was the 1990s. People were not as interconnected as us. So to do that in such a short time is a huge achievement. And in just 2 months, the sales had reached $20,000.
In 1997, just two years after its launch, Amazon.com went public. Market analysts were skeptical since they believed Amazon.com would not survive when traditional retailers decided to join the e-commerce platforms. However, Bezos did beat all the odds when two years later, he managed to beat his competition.
It is as if the dude knew exactly what needed to be done and when to stay ahead of the game. Very few people have this much foresight in matters of the business world.
Bezos made it a point to diversify by selling electronics, toys, clothes, and more. Did you know that most of these dot com ventures of the 90s went bust? But not Amazon. No! Its yearly sales jumped from $510,000 in the 90s to $17 billion in 2011. That’s almost….a 1000 time-fold, probably?
The value of the company has only gone up from there. In 2018, Bezos stated that the company had surpassed 100 million paid subscribers for Amazon Prime. Around this time, Amazon was valued at more than $1 trillion, the second company to ever hit the record just after Apple.
Jeff Bezos has dealt with his share of controversies. Amazon was rumored to be a bad place to work. Plenty of people who worked in Amazon came on Quora and talked about the level of micromanagement in there.
They even stated that they were not allowed proper breaks or anything. IN every circumstance, work came first.
IN 2018, Bezos finally announced that Amazon was going to raise the minimum wage to be $15 per hour. However, the company is heavily criticized even today.
Right after he started selling books, Amazon turned to video services. In 2006, it launched the video-on-demand service, which is known as Amazon Unbox. It was rebranded as Amazon Instant Video.
Bezos even launched different films and TV shows. One, in particular, was a hit. Do you remember Transparent and Mozart in the Jungle? Yes, the company sure did hit big with that one.
Then, a couple of years later in 2015, Amazon released its first original feature film called Spike Lee. Here is an interesting fact: did you know that Bezos appeared in front of the camera for a cameo appearance when he played an alien in Star Trek Beyond. Like we mentioned earlier, the dude was crazy over star trek. I guess a lot of his dreams do come true.
Then, the company launched into other digital products. Like Kindle E-Reader. Now, people did not have to spend so much money on hard copies. Plus, Amazon Drones also came in. Why wouldn’t they? The Amazon Prime Air, as they were called, were used to deliver services to customers via air. These devices could carry weights of up to 5 mounds and could travel a 10-mile distance. He’s revolutionizing just about everything, right?
He even dabbled in foods, fire phone (this one did not take off), and there is plenty more to come.
So, folks, it seems as we have a lot to learn from Jeff Bezos and take inspiration from his life. He is truly an entrepreneur and a thinker in every sense of the world. But for a moment put yourself in his place and let us know in the comment section how would you like to spend or invest if you were a billionaire.
This was all about Jeff, the richest man in the world. What do you think about this video? Let us know in the comment section.