Jeff Bezos overtakes Bill Gates to become the richest man on the planet
To create the stature Amazon has created for itself, it requires a great deal of hard work, involvement and perseverance. The credit of all of this and much more which Amazon has achieved goes to the American entrepreneur Jeff Bezos, who is the founder and chief executive officer of Amazon.com. his successful business undertakes and enterprises has today made him the richest man on the planet.
An investor, a philanthropist, Jeff Bezos was born in Albuquerque, New Mexico. A graduate in electrical engineering and computer science, Jeff Bezos founded Amazon in the late 1994. It began only as an online bookstore, but with hours of commitment and labor put into it, it gradually expanded to selling a range of products and services as well.
Other feathers in his hat include the aerospace company Blue Origin which he founded in 2000, The purchase of The Washington Post made in 2013 and various other investments made by him through his venture capital fund, Bezos Expedition. All of these smart movements made by Jeff Bezos, made him as the world’s wealthiest man on 6th March, 2018 and his net worth increased to US$150 billion, as informed by Forbes.
Bill Gates had been ruling the list of the richest person for quite some time and Jeff Bezos stood at the second position for a couple of years, however, after Amazon’s shares heavily surged, Jeff Bezos was able to take up the first position in the year 2017 itself until officially declared and confirmed by Forbes. Jeff Bezos had also topped Bill Gates in inflation- adjusted terms.
What is Amazon.com?
Amazon.com is a Washington based cloud computing and electronic commerce brand. It is declared as the largest internet retailer in the world and is well deserved to be known so. What started as an online store for book selling, Amazon has now reached to the zenith where it is capable of selling a huge range of products covering clothes, appliances, electronics, furniture, jewelry, toys and much more.
Amazon has also successfully launched a set of products owned by itself. These include Fire tablets, Amazon e-readers, Fire TV, Echo devices and much more. Amazon is also the hand behind creating the virtual assistance program, that is Alexa. Amazon has separate retail websites for every country including United Kingdom, France, Germany, India and many more.
Amazon is also the fourth most valuable public company in the world and the second largest employer in the United States after Walmart. Some of the other services available through Amazon.com are: *
- Amazon Prime
- Amazon Fresh
- Amazon Go
- Amazon Web Services
- Kindle Store
- Amazon Studios
and much more.
What is Blue Origin?
Headquartered in Kent, Washington, Blue Origin is an American privately funded aerospace manufacturer and spaceflight services. Jeff Bezos had been interested in space from an early young age and the brand Blue Origin run by him works on the same principle.
Blue Origin, with the assistance of Jeff Bezos has launched a number of rockets. By July 2014, Jeff Bezos had invested over US$500 million into Blue Origin. As of April 2017, Bezos is selling approximately US$1 billion in Amazon stock each year to privately finance Blue Origin. The company even successfully sent a test flight into space in 2015. Blue Origin is also set to launch a couple of them in the year 2018.
What is The Washington Post?
In August 2013, Jeff Bezos bought The Washington Post’ for $250 million through his company Nash Holdings. Washington Post is a major American daily newspaper brand, founded originally on 6th December, 1877. It the largest newspaper published in the capital city of The United states of America, Washington DC. The newspaper is currently owned by Nash Holdings LLC, a holding company created for the acquisition and controlled by Jeff Bezos.
It has also been accoladed with over 50 Pulitzer Prizes, signifying how dominant it is and how significantly its content is consumed by the masses in the peripheral of the country and otherwise.
Some of the other prizes won by the Washington Post are:
- Worth Bingham Prize- a total of 8 times as of now.
- Pulitzer Prize- a total of 51 times as of now.
- The Gerald Loeb Award for Commentary
- Peabody Award
Other Investments by Jeff Bezos
Through his venture capital fund, Bezos Expedition, Jeff Bezos has successfully invested into several companies and brands whose revenue also adds up to him becoming the richest man on the face of earth in the current modern time wherein his income if compared, is more than the GDP of many of the developing and under developed countries for example Croatia. Some of the brands in which Jeff Bezos has invested are:
- US$15 million in the social platform Twitter
- US$100 million in an early cancer detection company, Grail
- US$112 million in Air and bed service, Airbnb
- Business Insider
- Stack Overflow
Jeff Bezos has changed the face of many industries including newspaper, electronic commerce, retail and much more for all the right reasons and through all the right ways. His empire includes the highly assertive brand Amazon.com along with investments in brands such as Uber, Google and many more.
His accolades and achievements can also be attributed to the set of people around him who has always under his supervision worked to improve the brands associated with him, every day.