LIFE STORY OF WEALTHIEST PERSON IN THE WORLD-JEFF BEZOS (OWNER OF AMAZON, THE WASHINGTON POST, BLUE ORIGIN etc.)

 

Jeffrey Preston Bezos popularly known as Jeff Bezos was born on 12st January 1964 and he is currently the wealthiest person in world. He is an American Investor, media Proprietor, industrialist and internet entrepreneur. He is popular as the President, CEO and founder of multinational company Amazon. He is also the founder of space exploration company Blue Origin and owner of Washington post. The powerful business strategies made him one of the wealthiest people in the world.

                        He had a strong passion towards learning computer from his childhood times and studied electrical and computer science engineering at Princeton University. He started his career in wall street after graduation and he became youngest senior VP at D.E Shaw (Investment company) in 1990. He started an online bookstore Amazon.com in 1995 which became one of the biggest successful stories on Internet. He bought “The Washington Post” in 2013 and purchased Whole Foods by Amazon in 2017.

 Story of Amazon.com

                        Amazon.com started by Bezos in 1995 name comes from bending a South American river. During the launch time, he asked his 300 friends to test his site. The operations of company slowly expanded from his garage to two-bedroom house furnished with 3 sun Micro-stations. The early success of company was average and it sold books in US and 45 countries with no press promotion. The sales revenue of business has achieved a huge growth $20,000 per week in two months period. It becomes a public company in 1997 and started their own e-commerce sites which was criticized by many market analysts because of the presence of traditional retailers.

The company has grown significantly by overcoming many competitive threats and become an e-commerce leader. In 1998, they had expanded its offerings like toys, electronics, clothes with the assistance of main retail partnerships. The sales of company have grown from $510,000 to more $17billion in 2011. The paid subscriptions of company had surpassed 100 million subscribers in 2018. The market capitalization of Amazon had crossed $1 trillion in 2018 which makes them second company to hit that record after Apple. In 2018, the company announced to raise the minimum pay scale of workers to $ 15 per hour. The workers protest against company for grueling pace and working conditions in 2019.

The Washington Post

                        The Washington Post was purchased by Bezos on 5^th August 2013 with $250 million cash. Nash Holdings is limited liability company started by Bezos which act as a holding company through which he would ow the newspaper. Nash Holding acquire full ownership of the newspaper on 1^st October. Bezos has made tremendous changes by restricting its analytics software, mobile platforms and digital media. The paper becomes profitable in 2016 for first time after his acquisition in 2013.

Blue Origin

                        Blue Origin is an aerospace company founded by Bezos in 2000 which develops technologies to reduce the cost of space travel and make its available for paying consumers. He made a vision statement that humans may not only visit but also colonize space in coming future. He promised to sell $1 billion shares of Amazon annually to finance Blue Origin. Blue Origin was one of the 13 companies which was selected by NASA to make partnership on 19 technology projects to reach Mars and Moon. They are on the way of discovering precise and safe landing system for the moon and liquid propellant engine for rockets.