Things You Need to Know About Jeff Bezos’ Net Worth!
Among his many accomplishments, Jeff Bezos founded the world’s largest online shop, Amazon.com, which he later sold to Jeff Bezos Holdings, Inc. Jeff Bezos, who created Amazon.com, is the company’s CEO, president, and chairman of the board.
In terms of wealth, he surpassed Bill Gates for the first time in July of this year. He remained the world’s richest person from October 2017 to January 2021 without interruption. At the time of this writing, Jeff Bezos is worth $168 billion.
Amazon’s latest SEC filing shows Jeff controls 55 million shares, or around 12 percent of the total outstanding number of shares. At the time of this writing, he had 80 million shares of Amazon in his account.
Jeff Bezos transferred 19.7 million shares of Amazon to his ex-wife MacKenzie after their divorce was finalised in April 2019. The shares were valued $36 billion at the time of the transfer, a 36% increase. The settlement reduced Jeff’s fortune from $150 billion to $114 billion for the time being. As an early pre-IPO investor in Google.com, Jeff currently owns at least $1 billion worth of Alphabet Inc.
When it came to money, Jeff was nowhere near the top ten or twenty of the world’s wealthiest individuals during the majority of the decade after the year 2000. When Amazon’s stock began to rise in late 2014, it was an unparalleled rise. When Jeff died in July 2015, he had a fortune of $50 billion.
His wealth (as well as the value of his stock) had more than quadrupled in only two years. As of July 27, 2017, Amazon CEO Jeff Bezos had overtaken Bill Gates as the world’s wealthiest person. September saw Amazon’s market value reach $1 trillion. As he was still married at the time, he had 80 million shares in the company. At the time, it was estimated that Jeff’s fortune had eclipsed the previous record of $170 billion.
How much is Jeff Bezos worth?
Inflation-adjusted, Jeff doesn’t even crack the top ten list of the world’s wealthiest people when measured against his record-high net worth of $200 billion. If the $200 billion amount is correct, it would be the eleventh-largest fortune ever collected by a single person (counting inflation). As a point of comparison, oil tycoon John D. Rockefeller was worth a stunning $340 billion when he died.
Whether or if Jeff Bezos becomes a billionaire is an open question.
You can do everything you put your mind to in this world! It looks to be an incredibly lofty objective, though, if he hopes to become a trillionaire purely through Amazon shares. By virtue of owning 12 percent of Amazon’s shares, Jeff is now worth an estimated $120 billion for every $1 trillion in Amazon’s market value. A market valuation of Amazon exceeding $8.3 trillion would make Jeff a billionaire entirely on the basis of his Amazon shares, though.
Jeff Bezos: Life in the Earlier Years
Amazon’s founder and CEO, Jeff Bezos, was born on January 12th, 1964, in Albuquerque, New Mexico. Jeff’s mother was just 17 years old when she gave birth to him. Father and son had a bicycle business together. In the end, Jeff’s mother divorced Jeff’s birth father.
She married Miguel Bezos, a Cuban immigrant, when he was four years old. Miguel adopted Jeff shortly after the wedding, and as a result of the adoption, Jeff’s last name was officially changed from Jorgenson to Bezos. ExxonMobil offered Mike a position as an engineer, and the family relocated to Houston.
His mother’s parents, who owned a cattle ranch south of San Antonio, were also a benefit because of the location. He and country singer George Strait are first cousins; his maternal grandmother Mattie Louise Gise was born when he was just a baby.
His parents’ garage served as an experimental laboratory for Bezos when he was growing up in Texas. Summers were also spent working on the family ranch as a youngster. Jeff said that his summers on the ranch were where he first learned the value of hard labour. Later in life, he purchased the ranch and expanded it from 25,000 to 300,000 acres.
At the beginning of Jeff’s high school career, his family relocated to Miami. Jeff worked as a McDonald’s short-order cook when he was still in high school. He was a National Merit Scholar and a high school honours graduate. In his valedictory speech, he expressed the optimism he had that one day, people from Earth will live in space.
Jeff Bezos originally intended to study physics at Princeton, but his passion for computers compelled him to rethink his course of study. He finished with a 4.2 grade point average and was admitted into Phi Beta Kappa after completing summa cum laude. He graduated from the University of California, Los Angeles with a degree in computer science and electrical engineering.
For his first job after finishing college, Jeff worked for Fitel, a financial technology startup. At Bankers Trust Company, he worked his way up to the position of product manager. D. E. Shaw & Co. had just been created on the basis that mathematical modelling might foresee substantial market returns when the young financial analyst was employed as a financial analyst in 1990, fresh out of college.
Mind blowing frontier tech on display at #MARS2022. Jeff Bezos showed himself to be a kind person, genuinely driven to carry forward humanity. #neurotech and #BCI were recognised as entering a golden age, with an overwhelming response to @synchroninc tech. Steaming forward now ❤️ pic.twitter.com/1iwlC7QSSJ
— Thomas Oxley (@tomoxl) March 30, 2022
As of 1994, Jeff was the company’s 4th Senior Vice President, a position he held until 2005, when he retired. His age at the time was thirty.
Assets and Real Estate
Two Beverly Hills mansions were acquired for $255 million by Jeff Bezos on February 12, 2020. The Jack L. Warner estate was the first to be acquired, and it cost $165 million.
There is a 13,600-square-foot main house on the ten-acre estate, which is located in the centre of Beverly Hills. In 1990, Hollywood mogul David Geffen paid $47.5 million for the property, which he later sold for a tidy profit.
In February 2020, Bezos reportedly acquired a 120-acre deserted mountaintop known as Enchanted Hill, making it the billionaire’s second property acquisition. Paul Allen’s estate acquired the site in 1997 for $20 million, and he died in 2011. The Allen family was the vendor.
A 1.5-mile driveway and a groomed cliff at the property’s highest point, despite the fact that the ground is mostly covered in weeds. It was just a month after it was originally reported that the deal had collapsed, according to the media. As a consequence, Jeff’s February 2020 real estate spending spree culminated in the $165 million Jack L. Warner estate.
A History of Celebrity and Business Wealth
Bezos has sold at least $70 billion worth of Amazon shares to investors since the business went public in 1997. He sells about $1 billion worth of stock each year in accordance with a pre-agreed-upon stock sale arrangement.
There were $300 million in shares outstanding on the first day of Amazon’s initial public offering (IPO). When Jeff was in charge of 40% of the firm, he had $120 million in the bank (on paper, pre-tax). After just one year, he had a net worth of $1 billion.
Jeff Bezos’s net worth topped $10 billion at the height of the dot-com boom in 2000. Following the bursting of the bubble, Amazon’s stock price plummeted to an all-time low of $5 per share in October 2001. Jeff’s net worth has plummeted to between $1-2 billion at that point.
For example, if you had been wise enough to take $10,000 and invest it in Amazon shares in October 2001, you would have more than $15 million now, even before factoring in any dividends.