As we all know recently Elon musk beat Jeff Bezos to become the richest person in the world and we’re all talking about Elon Musk’s success story and how he created his big empire, transformed everything within a year, and became the world’s richest person known. But how many of you know how Jeff Bezos, the founder, and CEO of Amazon became one of the richest men in the world? The mind behind one of the most famous e-commerce site Amazon.
Jeff Bezos Success Story
Childhood and Early Days
Born in New Mexico on 12th January 1964, Bezos has been a lover of computers and gadgets since he was a kid. He was such an enthusiastic kid that he eagerly converted his garage into a laboratory. He graduated as the best student of his batch in high school. He graduated with a Computer Science and Electrical Engineering degree from the University of Princeton in 1986.
He worked with several associations like Fitel, Bankers Trust, and D.E. Shaw investment fund only to quit his job in 1994 to begin his carrier in Finance. He shifted to Seattle and opened an internet market for the bookstore.
Founder and CEO of Amazon
Bezos founded this online website startup originally as an e-commerce bookstore market, named after the South American river Amazon in July 1995. He took the help of about 300 friends to run the beta test of the site and then launched it to get some quick results in the accomplishment of the site without any promotions originally. Within two months of launching the site, sales begin to grow quickly and efficiently and were became $20,000 a week which is huge for a startup. With the increase in sales and popularity of the site, the startup became a huge success and a leader in the e-commerce world.
As the company grew, Amazon didn’t just stick to the books they started with they grew to sell clothes, electronic gadgets, accessories with retail partnership along with their own Amazon products.
The Amazon products include their digital reader tab Amazon E-Kindle, Amazon Instant Videos and Amazon Studios, Amazon Drones, Fire Phones, and even a Whole Grocery Store now. As per records, the Amazon Prime subscribers have reached 100 Million subscribers by 2018. Amazon was esteemed at more than $1 trillion by September 2018. The second company to hit this trademark after Apple lies at first.
Bezos as the owner of Washington Post
One of the best-rated newspaper agencies in Washington founded about 143 years ago was. The newspaper is very famous since the very beginning and has won many awards as well. Bezos purchased the Washington Post from its original owners, the Graham family on the 5th of August, 2013 at $250 million. The agency was initially owned by the Graham family for about four generations. After acquiring the agency Bezos hired hundreds of publishers and editors for the success of the post and its profit through ads itself is about $100 million.
According to NASA, the Blue origin is known to be developing a safe and accurate system that can land safely on the moon. It has selected Blue Origin to be one of the 13 companies to collaborate on 19 technology projects in August of 2019. It is also known to be working on reusable rocket systems. It works for the benefit of space and uses Amazon funding to build technology that can be fit to use in space. It makes fuels to lower the price of space travel and build a road to space in the words of Bezos.
These all being said we can conclude that Bezos has worked hard to build his empire. His determination and devotion towards his company along with the right amount of brain has helped his company to be a huge success. He is an interesting man with an interesting vision of his own. His imagination and hard work towards his goals have made Amazon one of the top-rated companies in the world. He’s practiced for years to build the fat roots of his companies and it continues to grow at the same pace.
The success story of Jeff Bezos isn’t jotted down in a single night. Rather, it has taken a tremendous amount of dedication, skills, and vision along with hours of work for years. This is what makes a billionaire.