[160] Journalist Walt Mossberg dubbed the idea that someone who cannot tolerate criticism or critique shouldn't do anything new or interesting "The Bezos Principle". This increase outstripped the economic development (in GDP terms) of more than 96 countries around the world. [b], His wealth, in 201718 terms, equaled that of 2.7million Americans. [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. 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 Shares of the company were only $7 on average that year. The Washington Post reported that Jones may be leaning on Dan Snyder to sell [203] His wealth's rapid growth from 2016 to 2017 sparked a variety of assessments about how much money Bezos earned on a controlled, reduced time scale. The company also and sells apparel with its logos and branding. He received Germany's 2018 Axel Springer Award for Business Innovation and Social Responsibility. [69] Due to the growth of Alibaba in China, Bezos has often expressed interest in expanding Amazon into India. Investors in OTE include Portland Trail Blazers forward Carmelo Anthony, Brooklyn Nets star Kevin Durant and Silicon Valley venture capital firm Andreessen Horowitz. [148][149][150] Since 2017, he has been portrayed by Kyle Mooney and Steve Carell on Saturday Night Live, usually as an undercutting, domineering figure. 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 Bezos' net worth is worth $119 billion, according to Forbes , and he'd likely be able to outbid other potential buyers. Forensic analysis of Bezos's mobile phone conducted by advisory firm FTI Consulting, concluded it "highly probable" that the hack was achieved using a malicious file hidden in a video sent in a WhatsApp message to Bezos from the personal account of the crown prince on May 1, 2018. [120] In January 2018, an announcement was made concerning Bezos's role within a new, unnamed healthcare company. Bezos has been interested in becoming an NFL owner for at least four years. During that time, Amazon was just coming into its own by selling CDs online. [308], On November 22, 2022, Jeff Bezos awarded $123 million to organizations that are engaged in relocating homeless families to permanent housing. [79] This followed revelations by the non-profit group New Food Economy which found that one third of Amazon workers in Arizona, and one tenth of Amazon workers in Pennsylvania and Ohio, relied on food stamps. Overtime raised $80 million in a Series C with investors including Bezos Expeditions, Drake and NBA stars including Devin Booker, Trae Young and Klay Thompson. $3,487 is divided by 47, a fraction. [192][194], After a rumor broke out that Amazon was developing a smartphone, Bezos's net worth rose to $30.5billion in 2014. In March, the company made headlines when it announced Overtime Elite, a basketball league for 16-to-18-year-olds that allows them to earn at least $100,000 per year. "Bezos" redirects here. [49] Prior to settling on Seattle, Bezos had investigated setting up his company at an Indian reservation near San Francisco in order to avoid paying taxes. But Soon, the F.A.A. Getty. The NFL has played games in London, Mexico City and Germany but there is one place they haven't touched. Perez of FrontOfficeSports.com reports that no bid exceeded $6.3 billion. [3][4] He is the founder, executive chairman, and former president and CEO of Amazon. When he studied at Stanford, he joined a variety of sports teams, including in-line skating, skiing, gymnastics, and trapeze. Meanwhile, Rodgers insists he won't "drag'' out the decision about when and where and why and if he'll play in 2023. On July 20, 2021, he flew to space alongside his half-brother,[1] Mark. [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. Bezos became D. E. Shaw's fourth senior vice-president by age 30. [91] The 18-year-old Bezos stated that he wanted to preserve Earth from overuse through resource depletion. Their returns? [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. Jeffrey Preston Jorgensen was born in Albuquerque, New Mexico, on January 12, 1964,[16] the son of Jacklyn (ne Gise) and Theodore Jrgensen. Sports media company Overtime has secured an $80 million fundraising round with investors including Jeff Bezos' investment firm, global entertainer Drake, Reddit co-founder Alexis Ohanian and several National Basketball Association players. Bezos founded Amazon in late 1994 on a road trip from New York City to Seattle. Earlier this month, Jeff Bezos stepped down as the CEO of Amazon, the company he launched in 1994 as an online bookseller. [227], In June 2019, Bezos purchased three adjoining apartments overlooking Madison Square Park in Manhattan, including a penthouse, for a combined total of US$80million, making this one of the most expensive real estate purchases within New York City in 2019. [51], In 1998, Bezos diversified into the online sale of music and video, and by the end of the year he had expanded the company's products to include a variety of other consumer goods. No. [93], After its founding, Blue Origin maintained a low profile until 2006 when it purchased a large tract of land in West Texas for a launch and test facility. [52] He accepted an estimated $300,000 from his parents as investment in Amazon. Whats more, the report also said that However, Bezos was not included in that stage of the bidding. [186] His net worth decreased to $6.1billion a year later, a 40.5% drop. [67] On January 29, 2018, he was featured in Amazon's Super Bowl commercial. 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. [188] He lost $500million the following year, which brought his net worth down to $1.5billion. Amazon founder Jeff Bezos attended the Sports Illustrated Super Bowl party. ", "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. [212] During March 9, Bezos earned $230,000 every 60 seconds. [275], On November 22, 2021, Jeff Bezos donated $100million to the Obama Foundation to "help expand the scope of programming that reaches emerging leaders", and requested the Obama Presidential Center's plaza to be named after John Lewis. [145] His physical transformation has been compared to the transformation of Amazon; he is often referred to as the metonym of the company. [113] In January 2016, Bezos set out to reinvent the newspaper as a media and technology company by reconstructing its digital media, mobile platforms, and analytics software. [107] He announced that New Shepard would begin transporting humans into sub-orbital space by November 2018. [274], In 2019, a political action committee linked to Bezos spent over $1million in an unsuccessful attempt to defeat the reelection bid of Seattle city council member and activist Kshama Sawant. [77], Criticism of Amazon's business practices continued in September 2018 when Senator Bernie Sanders introduced the Stop Bad Employers by Zeroing Out Subsidies (Stop BEZOS) Act and accused Amazon of receiving corporate welfare. 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. Altos Labs is a generously funded biotechnology company dedicated to harnessing cellular reprogramming to develop longevity therapeutics. [249] Public records, family history, and biographical details suggest that both were raised under some form of Christianity. [30][31] The family moved to Miami, Florida, where Jeff attended Miami Palmetto High School. Meanwhile, Rodgers insists he won't "drag'' out the decision about when and where and why and if he'll play in 2023. WebJeff Bezos childhood. [71], In March 2018, Bezos dispatched Amit Agarwal, Amazon's global senior vice president, to India with $5.5billion to localize operations throughout the company's supply chain routes. [228] Bezos had also purchased three adjoining apartments at 25 Central Park West in Manhattan for $7.65 million in 1999;[229][230] he bought a fourth unit in that building for $5.3 million in 2012. [25] Jeff's maternal grandfather was Lawrence Preston Gise, a regional director of the U.S. Atomic Energy Commission (AEC) in Albuquerque. Overtime said it will use a portion of the $80 million to help pay for salaries of players and staff, support league start-up costs, invest in the NFT sector and enhance its app. [200], Bezos would continue to sporadically surpass Gates throughout the month of October 2017 after Amazon's share price fluctuated. [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. The letter demanded "Fair wages; fair benefits for retirement, family leave and health care; and a fair amount of job security. In September 2016, Bezos received a $250,000 prize for winning the Heinlein Prize for Advances in Space Commercialization, which he donated to the Students for the Exploration and Development of Space. [140][141] This perception was detailed by Alan Deutschman, who described him as "talking in lists" and "[enumerating] the criteria, in order of importance, for every decision he has made. He holds a degree in electrical engineering and computer science. The real question, as a league source has framed it for PFT, is whether Bezos has deliberately chosen not to get in, or whether he has been frozen out. [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. [112] In March 2014, Bezos made his first significant change at The Washington Post and lifted the online paywall for subscribers of a number of U.S. local newspapers in Texas, Hawaii, and Minnesota. This venture, later named Haven, is expected to be a partnership between Amazon, JPMorgan, and Berkshire Hathaway. [51] Bezos used the $54million raised during the company's 1997 equity offering to finance aggressive acquisition of smaller competitors. [11] On July 5, 2021, Bezos stepped down as the CEO and President of Amazon and transferred to the role of executive chairman; Andy Jassy, the chief of Amazon's cloud computing division,[12][13] succeeded Bezos as the CEO and President of Amazon. He was succeeded as CEO by Andy Jassy. More significantly, Perez reports that Amazon founder Jeff Bezos has yet to make a bid. 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. [214] According to Quartz, his net worth of $150billion in July 2018 was enough to purchase the entire stock markets of Nigeria, Hungary, Egypt, Luxembourg, and Iran. [230], In February 2020, Bezos purchased the Warner Estate from David Geffen for $165 million,[231][232] a record price paid for a residence in the Los Angeles area. [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. "The breadth and diversity of this investment group, including leaders from business, entertainment, technology and sports, speaks to Overtime's remarkable growth and our future trajectory," co-founder and CEO Dan Porter said in a statement. On Saturday, TheAthletic.com reported that Bank of America (which is handling the sale) has informed Bezos that hes out. 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. "[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). The Washington Post reported back then that Bezos was interested in buying the Seahawks. He transitioned into the banking industry when he became a product manager at Bankers Trust from 1988 to 1990. [52] In addition, he regarded "Amazon," the name of the world's largest river as fitting for what he hoped would become the world's largest online bookstore. On October 10, 2017, he made an estimated $6.24billion in 5 minutes, slightly less than the annual gross domestic product of Kyrgyzstan. [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). [285], In September 2018, Business Insider reported that Bezos was the only one of the top five billionaires in the world who had not signed the Giving Pledge, an initiative created by Bill Gates and Warren Buffett that encourages wealthy people to give away a majority of their wealth. [289][290] A year later in June, he tweeted that he would announce two philanthropic foci by the end of summer 2018. [270] In November 2019, when the contract was awarded to Microsoft instead, Amazon filed a lawsuit with allegations that the bidding process was biased. [9] In August 2020, according to Forbes, he had a net worth exceeding $200billion. [90] Bezos has long expressed an interest in space travel and the development of human life in the Solar System. [45][246] In 1994, they moved across the country to Seattle, Washington, where Bezos founded Amazon. Then Bezos called his bluff", "Why Amazon's collaboration with the CIA is so ominous and vulnerable", "DoD's $10B cloud contract comes under protest 11 days after final RFP", "Microsoft wins Pentagon's $10bn cloud computing contract", "Amazon suing Pentagon over $10B cloud contract, alleging 'bias', "Pentagon cancels $10 billion JEDI cloud contract that Amazon and Microsoft were fighting over", "Amazon Pushes ICE to Buy Its Face Recognition Surveillance Tech", "Amazon's growing spending on Seattle politics includes a spate of donations from Jeff Bezos' 'S Team', "Jeff Bezos donates $100M to the Obama Foundation in honor of Congressman John Lewis", "Jeff Bezos donates to Obama Foundation in honor of John Lewis", "Saudi crown prince meets Amazon CEO Jeff Bezos in Seattle", "Saudi Arabia 'hacked Amazon boss's phone', says investigator", "Jeff Bezos hack: Amazon boss's phone 'hacked by Saudi crown prince', "Jeff Bezos hack: Saudi Arabia calls claim 'absurd', "Fred Hutch receives $35million donation, largest ever, from Bezos family", "Amazon CEO Jeff Bezos and family donate $20M to Fred Hutchinson Cancer Research Center", "Jeff Bezos is the richest man in modern history here's how he spends on philanthropy", "Unanswered questions about Jeff Bezos' new $2billion philanthropic fund", "Jeff Bezos just gave $1million to the Reporters Committee for Freedom of the Press", "Jeff Bezos wants to give more money to charity. [59][failed verification] In November 2007, Bezos launched the Amazon Kindle. [19] After completing high school despite challenging conditions, Jacklyn attended night school while bringing Jeff along as a baby. [247] Bezos and his now ex-wife MacKenzie are the parents of four children: three sons and one daughter adopted from China. [10] In 2020 during the COVID-19 pandemic, his wealth grew by approximately $24billion. [51] He favored diverting Amazon profits back into the company in lieu of allocating it amongst shareholders in the form of dividends. "[254] Bezos's family corporation Zefram LLC is named after Zefram Cochrane, a character from Star Trek. [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. [307], In November 2022, Bezos granted a $100-million Courage and Civility Award to singer Dolly Parton in recognition of her charity work focused on improving children's literacy around the world. [34], Bezos attended the Student Science Training Program at the University of Florida. His wealth surpassed $100billion for the first time on November 24, 2017, and he was formally designated the wealthiest person in the world by Forbes on March 6, 2018, with a net worth of $112billion. Nonetheless, he certainly has enough money to buy a sports team with the fortune he has accumulated from Amazon. [237] In 2013, more than 400 Washington Post employees wrote an open letter to Bezos criticizing his poor wages and benefits for his employees. [143], Throughout his early years of ownership of The Washington Post, Bezos was accused of having a potential conflict of interest with the paper. 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. [127][128] The engines are currently on display at the Seattle Museum of Flight. WebHow did Jeff Bezos get rich? 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. [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. [15] In September 2022, he was ranked second on the Forbes 400 list of wealthiest Americans with a net worth of $151 billion. As CBS Sports reported back in 2019, Bezos spent some time getting close with several owners back then and he had "strong support within the league" to become an owner at that point. 2023 CNBC LLC. [11][304][305] In November 2021, Bezos pledged to donate $2 billion towards restructuring food systems and nature conservation at the 2021 United Nations Climate Change Conference. [61] In 2013, Bezos secured a $600-million contract with the Central Intelligence Agency (CIA) on behalf of Amazon Web Services. Billionaire Amazon founder Jeff Bezos recently said he plans to give away the majority of his fortune. Data is a real-time snapshot *Data is delayed at least 15 minutes. [142] Bezos has been characterized as a notoriously opportunistic CEO who operates with little concern for obstacles and externalities. A.J. That WebForbes estimates that Bezos has donated $2.4 billionless than 2% of his total net worthto charitable causes during his lifetime. [189] The following year, his net worth increased by 66.66% to $2.5billion. 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%. [115], Bezos makes personal investments through his venture capital vehicle, Bezos Expeditions. 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%. Bezos was a multi-billionaire who drove a 1996 Honda Accord. [70] On July 27, 2017, Bezos momentarily became the world's wealthiest person over Microsoft co-founder Bill Gates when his estimated net worth increased to just over $90billion. [51] In 2000, Bezos borrowed $2 billion from banks, as its cash balances dipped to only $350million. [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. [101] He has repeatedly called for increased inter-space energy and industrial manufacturing to decrease the negative costs associated with business-related pollution. Mark remembers his brother being extremely thin and basically eating whatever he wanted. Who Will Win? [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. [284] In 2013, he pledged $500,000 to Worldreader, a non-profit founded by a former Amazon employee. In February 2023, Bezos was presented with the, denotes retired vehicles, engines, products, This page was last edited on 2 March 2023, at 19:21. Overtime is a media company that distributes original sports content on social media outlets, including Snapchat, YouTube and Facebook. Sports media company Overtime has secured an $80 million fundraising round with investors including Jeff Bezos investment firm, global entertainer Drake, Born in Albuquerque and raised in Houston and Miami, Bezos graduated from Princeton University in 1986. [259], According to public campaign finance records, Bezos supported the electoral campaigns of Patty Murray and Maria Cantwell, two Democratic U.S. senators from Washington. [116] He was one of the first shareholders in Google, when he invested $250,000 in 1998. [43] He first worked at Fitel, a fintech telecommunications start-up, where he was tasked with building a network for international trade. [58] After the company nearly went bankrupt, he closed distribution centers and laid off 14% of the Amazon workforce. [203] Bezos was officially ranked as the third-wealthiest person in the world, up from the 5th spot in 2016. Although the crash was viewed as a setback, news outlets noted how far the company went from its founding-to-date in advancing spaceflight. [187] His wealth plummeted even more the following year, dropping 66.6% to $2.0billion. [192][193] His wealth rose by 85.2% in 2010, leaving him with $12.6billion. The hour glass appears to be running out on The company formally launched on July 16, 1995. "I don't want to drag anybody around," he said . Billionaire Tim Koch has always loved adventure, from riding horses to exploring the [165][166] Bezos maintains the email address jeff@amazon.com[167] as an outlet for customers to reach out to him and the company. [124][125] In 2013, Bezos Expeditions funded the recovery of two Saturn V first-stage Rocketdyne F-1 engines from the floor of the Atlantic Ocean. [105][106] In May 2018, Bezos maintained that the primary goal of Blue Origin is to preserve the natural resources of Earth by making the human species multi-planetary.
