Amazon founder and CEO Jeff Bezos is not only the richest man in the world, but he is the richest man in the world's history. His assets amounted to 112 billion dollars. There was no such wealth in the world at any time. At the moment, his personal wealth is more than the wealth of the legendary investor Warren Buffett and Microsoft Corporation co-founder Bill Gates. Bezos is now topped by Forbes Magazine's list of global billionaires in the year 2018.
In 2017, 4 percent of total US retail sales were done by Jeff Bezos's Amazon.com. And the amount spent by online in the country is 44 percent by Amazon. The digitization process is changing the behavior of the people around the world, on the other hand, the type of business enterprise is changing to cloud computing (Amazon Web Service), in view of this, the future of online retailing, Jeff Bezos's future is more brilliant. Bezos used to work in the financial sector before the start of Amazon. He used to dream of Amazon as the 'shop of things'. Before it started, friends and well-wishers had discouraged him from leaving the job.
This visionary from the technology sector graduated from Princeton University, USA, in Computer Science and Electrical Engineering.
In 2004, the number of Internet users in the United States increased by 2,300 percent. Seeing the amazing use of the Internet, he came to the idea of establishing Amazon on his head. Then he made a list of 20 products sold online. If the Internet users did not see this growth, he would probably go from Wall Street.
Jeff Bezos founded Amazon on July 16, 1995, in his home garage in Seattle, USA. Bezos started working with Amazon, with his wife and two programmers investing 10 thousand dollars of his own. Amazon was a bookselling platform at the beginning. Within months of establishing, Amazon sells books in 45 countries including all states of the United States.
At the beginning of Amazon, Bezos predicted to raise money, by 2000, Amazon would sell 714 million dollars. Although in reality it is a lot more sold, $ 164 billion. He raised $ 1 million from Angel Investors (who invested in startup). Prior to that, he collected money from family members and parents, who gave him large chunks of life savings. Bezos said that the first 20 investors of Amazon invested 50 thousand dollars, although their share was less than 1 percent. The amount of this investment is currently equivalent to $ 6 billion. Then in June 1996, Amazon collected $ 8 million from venture capital firm Kleiner Parkins.
In May 1997, Amazon released the public. In the 1990s, investment-related companies fell into the Internet-based company, which is called Dotcom Bust. The bubble of investment in the Amazon was not broken among startup companies. By diversifying its product and integrating its leading role in the market, Amazon's annual sales reached $ 5,10,000 from 1995 to $ 17 billion in 2001.
Last year, the main reason behind the rise in wealth of Jeff Bezos is the increase in the value of Amazon's e-commerce institution. Amazon's share price rose 59 percent in a year. Bezos's wealth increased by $ 39.2 billion. As well as increasing the Amazon business, in August 2013, Jeff Bezos bought the Washington Post, a dominant US magazine, for $ 25 million.
Sources: Newspapers.