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[37] In 1986, he graduated summa cum laude from Princeton University with a 4.2 GPA and a Bachelor of Science in Engineering degree (B.S.E.) Bezos was a multi-billionaire who drove a 1996 Honda Accord. [295][bettersourceneeded] In June 2018, Bezos donated to Breakthrough Energy Ventures, a private philanthropic fund founded by Bill Gates aimed at promoting emissions-free energy. He has also supported Democrats U.S. representative John Conyers, as well as Patrick Leahy and Republican Spencer Abraham, U.S. senators serving on committees dealing with Internet-related issues. To date, the Brooklyn-based Overtime says it has raised more than $140 million. "[89], In September 2000, Bezos founded Blue Origin, a human spaceflight startup. Changing His Eating Habits Turned Out To Be The Biggest Change. Perez of FrontOfficeSports.com reports that Bezos remains in the mix. [286] That same month, Janet Camarena, director of transparency initiatives at Foundation Center, was quoted by CNBC as having questions about Bezos's new Day 1 Fund, including the fund's structure and how exactly it will be funded. WebHow did Jeff Bezos get rich? [189] The following year, his net worth increased by 66.66% to $2.5billion. ", "Jeff Bezos Buys David Geffen's Los Angeles Mansion for a Record $165 Million", "Amazon founder Jeff Bezos buys 'most expensive home' in Los Angeles", "Jeff Bezos Drops $16 Million on Another Manhattan Pad to Create a 'Vertical' Dream Home", "Rotterdam Is Dismantling a Historic Bridge for Jeff Bezos's Superyacht", "Expecting the Unexpected From Jeff Bezos", "Washington Post' May Find Conflicts in Amazon Coverage", "More than 400 Washington Post staffers wrote an open letter to Jeff Bezos calling out his 'shocking' pay practices", "More Than 400 Washington Post Staffers Wrote an Open Letter to Jeff Bezos Calling Out His 'Shocking' Pay Practices", "What Jeff Bezos' intimate-message breach teaches us about digital security", "Jeff Bezos' girlfriend Lauren Sanchez greeted him when he returned from his spaceflight. People know the name and know it stands for greatness, perseverance and ultimate success. WebFor the years he did pay federal income taxes between 2006 and 2018, Bezos paid a total of about $1.4 billion on a reported income of $6.5 billion, or a rate of about 21.5%. Initially operating out of his garage, the companys first annual revenue was $510,000. [262], After the 2016 presidential election, Bezos was invited to join Donald Trump's Defense Innovation Advisory Board, an advisory council to improve the technology used by the Defense Department. Billionaire Tim Koch has always loved adventure, from riding horses to exploring the TheAthletic.com also reports that Bezos has been prevented from bidding on the team [91] The 18-year-old Bezos stated that he wanted to preserve Earth from overuse through resource depletion. [36] His 1982 high school valedictorian senior graduation 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. [22] Shortly after the wedding, Mike adopted four-year-old Jeff whose surname was then legally changed from Jorgensen to Bezos. [86], In February 2021, Bezos announced that in the third quarter of 2021 he would step down from his role as CEO of Amazon to become the Executive Chairman of the Amazon Board. Bezos started to wear tailored clothing; he weight trained, pursued a regimented diet and began to freely spend his money. [293][294], In January 2018, Bezos made a $33million donation to TheDream.US, a college scholarship fund for undocumented immigrants brought to the United States as minors. ", "Amazon will have a new CEO as Jeff Bezos transitions to executive chair later this year", "Jeff Bezos and brother to fly to space in Blue Origin flight", "Jeff Bezos, Mark Bezos, Wally Funk and Oliver Daemen reach edge of space, return safely on Blue Origin's New Shepard rocket", "Jeff Bezos's single teen mom brought him to night school with her when he was a baby", Why Some Locals Are Skeptical About Jeff Bezos' Free Preschool Near Seattle, "At Last, Jeff Bezos Offers a Hint of His Philanthropic Plans", "Jeff Bezos just sold $534million worth of Amazon stock", "Biography and Video Interview of Jeff Bezos at Academy of Achievement", "Jeff Bezos: A rocket launched from Miami's Palmetto High", "Amazon.com's Bezos invests in space travel, time", "How Amazon's Jeff Bezos went from the son of a teen mom to the richest person in the world", "Top Executive Profiles Jeffrey P. Bezos", "MacKenzie Bezos and the Myth of the Lone Genius Founder", "Who's Writing the Book on Web Business? [85] The American workers who were being paid the minimum wage had this increased to $15 per hour, a decision that was interpreted as support for the Fight for $15 movement. [15] In September 2022, he was ranked second on the Forbes 400 list of wealthiest Americans with a net worth of $151 billion. Investors in OTE include Portland Trail Blazers forward Carmelo Anthony, Brooklyn Nets star Kevin Durant and Silicon Valley venture capital firm Andreessen Horowitz. [157][158], Bezos used what he called a "regret-minimization framework" while he worked at D.E. Shaw and again during the early years of Amazon. The current market value of 40 shares is $40. In 2016, Bezos allowed select journalists to visit, tour, and photograph his facility. [61] In 2013, Bezos secured a $600-million contract with the Central Intelligence Agency (CIA) on behalf of Amazon Web Services. [278] In March 2019, Bezos's security consultant accused the Saudi government of hacking Bezos's phone. A local newspaper quoted his intention "to get all people off the earth and see it turned into a huge national park". [238][239], In January 2019, Bezos and his wife Mackenzie Scott released a joint statement which revealed that they would be getting divorced after 25 years together. Jeff Bezos has been continually linked to buying the Washington Commanders But he could pivot to buying the Seattle Seahawks, says a new report Click here for all Sports media company Overtime has secured an $80 million fundraising round with investors including Jeff Bezos investment firm, global entertainer Drake, [198] However, just months later in October 2016, his wealth increased by $16.2billion to $66.5billion, unofficially ranking him the third-richest person in the world, behind Warren Buffett. [73] Later in the month, U.S. President Donald Trump accused Amazon and Bezos, specifically of sales tax avoidance, misusing postal routes, and anti-competitive business practices. [135] His business practices projected a public image of prudence and parsimony with his own wealth and that of Amazon. [191] After the financial crisis and succeeding economic recession, his net worth would decrease to $6.8billiona 17.7% drop. Although he does not respond to the emails, he forwards some of them with a question mark in the subject line to executives who attempt to address the issues. [44] Bezos was promoted to head of development and director of customer service thereafter. This increase outstripped the economic development (in GDP terms) of more than 96 countries around the world. [126] They were positively identified as belonging to the Apollo 11 mission's S-1C stage from July 1969. It wasn't until 1998, a year after Amazon became a public company, that Bezos became a billionaire. [18] Jrgensen was a Danish American and was born in Chicago to a family of Baptists. [69] Due to the growth of Alibaba in China, Bezos has often expressed interest in expanding Amazon into India. [51] At the time, website listings were alphabetized, so a name starting with "A" would appear sooner when customers conducted online searches. More significantly, Perez reports that Amazon founder Jeff Bezos has yet to make a bid. [236][115] Bezos treatment of employees at The Washington Post has also drawn scrutiny. Sign up for free newsletters and get more CNBC delivered to your inbox. [143][144], During the early 2010s, Bezos solidified his reputation for aggressive business practices, and his public image began to shift. [90] Bezos has long expressed an interest in space travel and the development of human life in the Solar System. [50] 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. Global investment firm Blackstone, Morgan Stanley and many NBA stars, including Devin Booker, Trae Young and Klay Thompson, joined the investment round. [255], On January 9, 2019, Bezos and MacKenzie announced on Twitter their intent to divorce after a "long period" of separation. [164] Starting in 1998, Bezos publishes an annual letter for Amazon shareholders wherein he frequently refers to five principles: focus on customers, not competitors; take risks for market leadership; facilitate staff morale; build a company culture; and empower people. [97] In May 2013, Bezos met with Richard Branson, chairman of Virgin Galactic, to discuss commercial spaceflight opportunities and strategies. Jeffrey Preston Bezos is an American entrepreneur, media proprietor, investor, and commercial astronaut. The fundraising comes more than a month after Overtime announced a paid basketball league for young players. Jeff Bezos (@JeffBezos) October 1, 2021 Since New Worlds launch on Tuesday , it has managed to reach a concurrent player count of over 800,000 players, [256][257][258] On April 4, 2019, the divorce was finalized, with Bezos keeping 75% of the couple's Amazon stock and MacKenzie getting the remaining 25% ($35.6billion) in Amazon stock. [283], Bezos donated to the Fred Hutchinson Cancer Research Center several times between 2009 and 2017. [39] To push Amazon forward, Bezos developed the mantra "Get Big Fast", establishing the company's need to scale its operations to produce market dominance. Who Will Win? Retail WebJeff Bezos childhood. Bezos retained his interest in The Washington Post and Blue Origin, as well as voting control of the shares received by his ex-wife. That shouldn't be an issue for Bezos, who with a net worth of $117.8 billion is one of the world's wealthiest people. [235] Bezos and the newspaper's editorial board have dismissed accusations that he unfairly controlled the paper's content and Bezos maintains the paper's independence. [11] He further expanded his residential holdings in February 2022, purchasing a $16.13-million-dollar apartment at a 24-story boutique condominium, located across from Madison Square Park in the Flatiron neighbourhood, where he already owns all the units on the top floors. He described this life philosophy by stating: "When I'm 80, am I going to regret leaving Wall Street? [21] After his parents divorced, his mother married Cuban immigrant Miguel "Mike" Bezos in April 1968. [281][282] Saudi Arabia has denied the claim. [123] Bezos used Bezos Expeditions to fund several philanthropic projects, including an Innovation center at the Seattle Museum of History and Industry and the Bezos Center for Neural Circuit Dynamics at Princeton Neuroscience Institute. The letter demanded "Fair wages; fair benefits for retirement, family leave and health care; and a fair amount of job security. Richard Lautens | Toronto Star | Getty Images. [284] In 2013, he pledged $500,000 to Worldreader, a non-profit founded by a former Amazon employee. [195][196] A year later, Bezos entered the top ten when he increased his net worth to a total of $50.3billion. Amazon founder Jeff Bezos on Monday will hand over his chief executive title to Andy Jassy, ending a more than two-decade run leading the company through its The first centibillionaire on the Forbes wealth index,[8] Bezos was named the "richest man in modern history" after his net worth increased to $150billion in July 2018. Earlier this month, Jeff Bezos stepped down as the CEO of Amazon, the company he launched in 1994 as an online bookseller. WebFor the years he did pay federal income taxes between 2006 and 2018, Bezos paid a total of about $1.4 billion on a reported income of $6.5 billion, or a rate of about 21.5%. 3 among the worlds richest, after Amazons stock tanked following a downbeat If he said today, nobody who is employed at Amazon will receive less than a living wage, it would send a message to every corporation in America. [204], On March 6, 2018, Bezos was designated the wealthiest person in the world, with a registered net worth of $112billion. The previous record high price of $150 million was paid by Lachlan Murdoch for the Chartwell Mansion. Bezos Expeditions, the personal investment firm of the Amazon CEO, is one of the companies tied to this funding round. The league and its The Raptors Global Ambassador Drake cheers on the team as the Toronto Raptors beat the Philadelphia 76ers 101-96 at the Scotiabank Arena in Toronto. [59][failed verification] In November 2007, Bezos launched the Amazon Kindle. We Have 4 Guesses", "Jeff Bezos to fund schools where 'child will be the customer' with new charity", "Jeff Bezos to Create $2 Billion Fund for Homeless, Preschools", "Jeff Bezos Unveils Multibillion-Dollar Plans For Charitable Giving", "Jeff Bezos donates $33million to scholarship fund for 'dreamers', "Backed by Bill Gates and Jeff Bezos, Breakthrough Energy Ventures places first bets on power storage", "Jeff Bezos donates $10million to organization that helps veterans run for office", "Amazon founder Jeff Bezos commits $10bn to fight climate change", "Jeff Bezos: World's richest man pledges $10bn to fight climate change", "Bezos Earth Fund announces first grants totaling $791M of his $10B pledge to help planet", "Bezos Earth Fund gives nearly $800 million to climate groups in first round of grants", "Jeff Bezos names first recipients of his $10 billion Earth Fund for combating climate change", "Twitter boss pledges $1bn for coronavirus relief", "Why Jeff Bezos's $100 million donation to food banks won't satisfy his critics", "Jeff Bezos Pledges $2B for Nature Conservation as World Leaders Address Deforestation, Emissions", Jeff Bezos's tuition-free preschool is expanding to new locations in Texas and Florida. [261] Bezos donated $100,000 towards a movement against a Washington state income tax in 2010 for "top earners". [251][252] All survived; Bezos sustained only minor injuries and was discharged from a local hospital the same day. The company formally launched on July 16, 1995. ", "What Has Jeff Bezos Chosen to Spend His $140B On? [186] His net worth decreased to $6.1billion a year later, a 40.5% drop. Jeff Bezos is currently the world's second-richest man, so purchasing an NFL (National Football League) franchise wouldn't be too tall a task for the billionaire. "[273] Despite Bezos's support for an open borders policy towards immigrants, Amazon has actively marketed facial recognition software to U.S. Immigration and Customs Enforcement (ICE). [276][277], In March 2018, Bezos met in Seattle with Mohammad bin Salman, the crown prince and de facto ruler of Saudi Arabia, to discuss investment opportunities for Saudi Vision 2030. [1/2] Sep 15, 2022; Kansas City, Missouri, USA; Amazon executive chairman Jeff Bezos in attendance before the Kansas City Chiefs play against the Los Angeles Amazon founder Jeff Bezos and music industry star Drake are investing in Overtime as part of a new $80 million round of funding for the sport startup, which is [233], Bezos is the owner of the Y721, a luxury superyacht estimated to cost more than $500,000,000. [145] His physical transformation has been compared to the transformation of Amazon; he is often referred to as the metonym of the company. "[81] He later said: "Bezos could play a profound role. As journalist Brad Stone revealed in his book The Everything Store, Bezos issued remarks to his employees such as "I'm sorry, did I take my stupid pills today? The company began as an online bookstore and has since expanded to a variety of other e-commerce products and services, including video and audio streaming, cloud computing, and artificial intelligence. He was born in Albuquerque, New Mexico as Jeffrey Preston Jorgensen, the son of Jacklyn & Theodore Ted Jorgensen. [7], The company left stealth mode and launched on January 19, 2022, with a start capital of $3 billion and an executive team led by Hal Barron. [190] From 2005 to 2007, he quadrupled his net worth to $8.7billion. [47][48] With Bezos at the helm and Scott taking an integral role in its operationwriting checks, keeping track of the books, and negotiating the company's first freight contractsthe foundation was laid for this garage-run operation to grow exponentially. [38][39] While at Princeton, Bezos was a member of the Quadrangle Club, one of Princeton's 11 eating clubs. [66] By January 19, 2018, his Amazon stock holdings had appreciated to slightly over $109billion; months later he began to sell stock to raise cash for other enterprises, in particular, Blue Origin. Here's what you need to know about the sale", "The Washington Post closes sale to Amazon founder Jeff Bezos", "Jeff Bezos Makes His First Major Move at the Washington Post", "The Washington Post Is a Software Company Now", "How Jeff Bezos Reacts to 'Negative' Amazon Articles in the Washington Post", "The Story of Jeff Bezos' $250,000 Investment into Google in 1998", "New Yorker: Bezos' Initial Google Investment Was $250K in 1998 Because 'I Just Fell in Love with Larry and Sergey', "Google's co-founders and other Silicon Valley billionaires are trying to live forever", "We can learn a lot about Jeff Bezos' health strategy by looking at his investments", "Why Jeff Bezos Might Be the One to Crack the Health Care Challenge", "Amazon, Berkshire Hathaway and JPMorgan Team Up to Try to Disrupt Health Care", "Jeff Bezos Wants Ideas for Philanthropy, So He Asked Twitter", "Billionaire Bezos adds to eclectic interests", "Jeff and MacKenzie Bezos Flip the Switch on New Bezos Center for Innovation at MOHAI, Kicking Off Saturday Launch Celebration", "The Engines That Propelled Us into Space, Recovered From the Ocean Floor", "Rocket Engine Part Recovered by Amazon CEO Has Apollo 11 History", "Bezos Salvage Team Plucks Apollo Rocket Engines from Atlantic", "Apollo F-1 Engine Preview | The Museum of Flight", "As Apollo 11 moon landing anniversary nears, space fans get ready to celebrate", "Altos Labs Launches with $3B and a Focus on Reversing Disease, Aging", "The Everything Store: Jeff Bezos and the Age of Amazon", "Amazon Uses '60 Minutes' To Unveil Automated Delivery Drones", "If Jeff Bezos really wanted to rule the world, he'd pose for corny photos like he used to", "Is Jeff Bezos a Horrible Boss and Is That Good? Will I regret missing the beginning of the Internet? With a net worth of US$128 billion as of February 2023, Bezos is the third-wealthiest person in the world and was the wealthiest from 2017 to 2021 according to both Bloomberg's Billionaires Index and Forbes. Bezos has been interested in becoming an NFL owner for at least four years. Mark remembers his brother being extremely thin and basically eating whatever he wanted. Jeffrey Preston Jorgensen was born in Albuquerque, New Mexico, on January 12, 1964,[16] the son of Jacklyn (ne Gise) and Theodore Jrgensen. Since that report from November 2019, Bezos' ties with the NFL have only grown. Got a confidential news tip? [199] After sporadic jumps in Amazon's share price, in July 2017 he briefly unseated Microsoft cofounder Bill Gates as the wealthiest person in the world. Bezos not only invested in the real estate startup's seed round in 2021, but he doubled down on that investment during the company's series A last year. [119] Bezos is involved in the healthcare sector, which includes investments in Unity Biotechnology, GRAIL, Juno Therapeutics, and Zocdoc. [7] The company has recruited prominent scientists such as Juan Carlos Izpisa Belmonte (known for work on rejuvenation through reprogramming), Steve Horvath (known for work in epigenetic aging clocks), and Shinya Yamanaka (the Nobel Prize-winning inventor of cellular reprogramming in mammalian cells). Scream? [169][170], Bezos first became a millionaire in 1997 after raising $54million through Amazon's initial public offering (IPO). [289][290] A year later in June, he tweeted that he would announce two philanthropic foci by the end of summer 2018. ", "Bezos Not Concerned About Competition, Possible ULA Sale", "Jeff Bezos lifts curtain on Blue Origin rocket factory, lays out grand plan for space travel that spans hundreds of years", "Jeff Bezos says he wants to fly into space 'as soon as possible', "Later, Vader! [20] Jeff attended a Montessori school in Albuquerque, New Mexico, when he was two years old. [247] Bezos and his now ex-wife MacKenzie are the parents of four children: three sons and one daughter adopted from China. [76] During July 2018, a number of members of the U.S. Congress called on Bezos to detail the applications of Amazon's face recognition software, Rekognition. [280], In January 2020, The Guardian reported that the hack was initiated before the murder but after Khashoggi wrote critically about the crown prince in the Washington Post. [110] To execute the sale, he established limited liability company Nash Holdings to serve as a holding company through which he would own the newspaper. When he studied at Stanford, he joined a variety of sports teams, including in-line skating, skiing, gymnastics, and trapeze. The Washington Post reported back then that Bezos was interested in buying the Seahawks. The company also and sells apparel with its logos and branding. [308], On November 22, 2022, Jeff Bezos awarded $123 million to organizations that are engaged in relocating homeless families to permanent housing. [63], In May 2016, Bezos sold slightly more than one million shares of his holdings in the company for $671million, the largest sum he had ever raised from selling some of his Amazon stock. [213] The Motley Fool estimated that if Bezos had not sold any of his shares from its original public offering in 1997, his net worth would sit at $181billion in 2018. [142] Bezos has been characterized as a notoriously opportunistic CEO who operates with little concern for obstacles and externalities. Amazon went public in Getty. [103] 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. [291] Bezos announced in September 2018 that he would commit approximately $2billion to a fund to deal with American homelessness and establish a network of non-profit preschools for low income communities. [203] Bezos was officially ranked as the third-wealthiest person in the world, up from the 5th spot in 2016. [26] Lawrence retired early to his family's ranch near Cotulla, Texas, where Jeff would spend many summers in his youth. [114] After a surge in online readership in 2016, the paper was profitable for the first time since Bezos made the purchase in 2013. [40] 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). ", "Are you lazy or just incompetent? [117][118] He also invested in Unity Biotechnology, a life-extension research firm hoping to slow or stop the process of aging. [23], After Mike had received his degree from the University of New Mexico, the family moved to Houston, Texas, so that he could begin working as an engineer for Exxon. Bezos founded the aerospace manufacturer and sub-orbital spaceflight services company Blue Origin in 2000. [45][246] In 1994, they moved across the country to Seattle, Washington, where Bezos founded Amazon. On July 20, 2021, he flew to space alongside his half-brother,[1] Mark. Won't Award Them", "FAA Commercial Human Spaceflight Recognition", "Bloomberg Billionaire Index Jeff Bezos", "Meet Altos Labs, Silicon Valley's latest wild bet on living forever", "This Is The Richest Person in the World", "Jeff Bezos Becomes The First Person Ever Worth $200 Billion", "Amazon CEO Jeff Bezos grows fortune by $24bn amid coronavirus pandemic", "Jeff Bezos to Step Down as Amazon C.E.O. [270] In November 2019, when the contract was awarded to Microsoft instead, Amazon filed a lawsuit with allegations that the bidding process was biased. His one line consisted of a response to an alien in distress: "Speak Normally." Khashoggi was killed in late 2018, in Turkey's Saudi consulate for his critical stance and journalism against the Saudi government and its leader. [94] 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. Bezos affinity for the Seahawks goes back to 2019 when he attempted to woo the owners into selling the franchise to him. That shouldn't be an issue for Bezos, who with a net worth of $117.8 billion is one of the world's wealthiest people.