Jeffrey Preston Bezos was born January 12, 1964) is an American entrepreneur , media proprietor, investor, computer engineer, and commercial astronaut.
He is the founder, executive chairman and former president and CEO of Amazon. With a net worth of around US$159 billion as of August 2023, Bezos is the second-wealthiest person in the world and was the wealthiest from 2017 to 2021.
Early life & Education.
Jeffrey Preston Jorgensen was born in Albuquerque, New Mexico, on January 12, 1964,the son of Jacklyn and Theodore Jørgensen.
Jeff attended a Montessori school in Albuquerque, New Mexico, when he was two years old. After his parents divorced, his mother married Cuban immigrant Miguel “Mike” Bezos in April 1968. Shortly after the wedding, Mike adopted four-year-old Jeff, whose surname was then legally changed from Jorgensen to Bezos.
After Mike (Jeff’s dad) had received his degree from the University of New Mexico, the family moved to Houston, Texas, so he could begin working as an engineer for Exxon. Jeff attended River Oaks Elementary School in Houston from fourth to sixth grade. Jeff displayed scientific interests and technological proficiency, and once rigged an electric alarm to keep his younger siblings out of his room. The family moved to Miami, Florida, where Jeff attended Miami Palmetto High School. While Jeff was in high school, he worked at McDonald’s as a short-order line cook during the breakfast shift.
Jeff attended the Student Science Training Program at the University of Florida. He was high school valedictorian, a National Merit Scholar, and a Silver Knight Award winner in 1982.
In his graduation speech, Jeff told the audience he dreamed of the day when mankind would colonize space. A local newspaper quoted his intention “to get all people off the earth and see it turned into a huge national park”. 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.) in electrical engineering and computer science.
After he graduated from college in 1986, he was offered jobs at Intel, Bell Labs, and Andersen Consulting. He first worked at Fitel, a fintech telecommunications start-up, where he was tasked with building a network for international trade. Jeff was promoted to head of development and director of customer service thereafter. He moved into the banking industry when he became a product manager at Bankers Trust. He worked there from 1988 to 1990. He then joined D. E. Shaw & Co, a newly founded hedge fund with a strong emphasis on mathematical modelling in 1990 and worked there until 1994. Jeff became D. E. Shaw’s fourth senior vice-president at age 30.
In late 1993, Jeff read that the Internet was growing at a rate of 2300% a year, and decided to establish an online bookstore. He and his then-wife, MacKenzie, left their jobs at D. E. Shaw and founded Amazon in a rented garage in Bellevue on July 5, 1994, after writing its business plan on a cross-country drive from New York City to Seattle With Jeff at the rudder and Scott taking an essential role in its operation—writing checks, keeping track of the books, and negotiating the company’s first freight contracts. the foundation was laid for this garage-run operation to grow tremendously.
Jeff made the decision by drawing up a list of possible products that he could sell with the help of the internet, including software, CDs, and hardware. In the end, books were the choice because of the wide range of titles in existence. Another advantage of an internet store was a then-recent US Supreme Court ruling that mail-order catalogues did not have to pay taxes in states where they did not have a physical presence. In other words, Bezos paid zero tax for the product he sold via the internet.
Jeff decided that Seattle would be a perfect place for his new business at the time because of the tremendous pool of hi-tech talent. Bezos managed to secure $1 million from his friends and family, enough to set up his business in the garage of his Seattle home.
Jeff initially incorporated the company as “Cadabra” on the 5th of July 1994. Moreover, a year later, he considered changing it when his lawyer misheard the word as “Cadaver,” but that was not the worst one. Another alternative was “MakeltSo.com,” a catchphrase from Captain Picard in Jeff beloved Star Trek. it could have also been “aard.com,” which would help push the company to the front of the website listings. Jeff also registered the domain names Awake.com, Browse.com, Bookmall.com, and Relentless.com. Eventually, Bezos decided on Amazon after looking through the words that start with A in the dictionary. Bezos liked the resonance between one of the planet’s longest rivers and the largest bookstore.
Awards & Achievements
- In 1999, Jeff received his first major award when Time named him Person of the Year.
- In 2008, he was selected by U.S. News & World Report as one of America’s best leaders.
- Jeff Bezos was awarded an honorary doctorate in science and technology from Carnegie Mellon University in 2008.
- In 2011, The Economist gave Bezos and Gregg Zehr an Innovation Award for the Amazon Kindle.
- In 2012, Jeff was named Businessperson of the Year by Fortune.
- He is also a member of the Bilderberg Group and attended the 2011 Bilderberg conference in St. Moritz, Switzerland, and the 2013 conference in Watford, Hertfordshire, England. He was a member of the executive committee of The Business Council for 2011 and 2012.
- 2014–2018, he was ranked the best-performing CEO in the world by Harvard Business Review.
- He has also figured in Fortune’s list of 50 great leaders of the world for three straight years, topping the list in 2015.
- In September 2016, Jeff 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.[better source needed]
- In February 2018, Bezos was elected to the National Academy of Engineering for “leadership and innovation in space exploration, autonomous systems, and building a commercial pathway for human space flight”.
- In March 2018, at the Explorers Club annual dinner, he was awarded the Buzz Aldrin Space Exploration Award in recognition of his work with Blue Origin.
- He received Germany’s 2018 Axel Springer Award for Business Innovation and Social Responsibility. Time magazine named him one of the 100 most influential people in the world on five separate occasions between 2008 and 2018.
Jeff Bezos has been a billionaire since 1999 — the year after Amazon went public — and he was the richest person in the world from 2017, when he surpassed Bill Gates, through 2020. early January 2021, Jeff was overtaken by Tesla and SpaceX CEO Elon Musk as the richest person on the list, and the two since have swapped places from time to time. As of May 12, Bezos is the second-wealthiest person on Earth, after Musk.
At its apex, Bezos’ net worth was $200 billion.
Family & Personal Life
Jeff got married to MacKenzie Tuttle in 1993. He met her while working at the investment firm D.E. Shaw. Together, they have four children. On January 9, 2019, Bezos and MacKenzie announced their intent to divorce. According to the couple, they were living separately for a long time.
The founder of Amazon.com is reportedly dating Lauren Sanchez, a former new anchor, TV show host, and helicopter pilot.
Bloomberg Billionaires Index listed Bezos as one of the wealthiest people in the world. Harvard Business Review ranked him the second best CEO in the world.