Who Is Jeff Bezos: History, Background, Achievements, and Net Worth

Jeff was born to teenage parents Jacklyn Bezos and Ted Jorgensen, who split when Jeff was still an infant. Jeff lost all contact with his biological father. Jacklyn’s later husband, Miguel Bezos, adopted him at age four. 

In 1995, Jacklyn and Miguel gave Jeff $250,000 to invest in his online bookstore, even though he emphasized the chance of losing it all. According to Jeff, both parents provided both emotional support and additional financial aid throughout his entrepreneurial journey.

MacKenzie Scott is an American philanthropist and novelist. She and Jeff were married for over 25 years, and have four children together. When the pair split in early 2019, both parties maintained that they were still good friends and would continue to co-parent their children.

Their divorce was finalized in July 2019 with a $38 billion settlement, which made her one of the richest people in the world. She later signed a Giving Pledge Initiative (of which Jeff has consistently decided not to also sign), agreeing to donate half of her wealth to those in need. To date, MacKenzie has donated more than $10 Billion (US dollars) to different causes, and has managed to actually increase her overall net worth.

Jeff Bezos went public with his relationship with news anchor Lauren Sanchez in 2019. At the start of their relationship, Lauren was also getting divorced from her husband, top Hollywood agent Patrick Whitesell.

Sanchez and Bezos got engaged in May 2023.

Bezos has always maintained his children’s right to privacy as much as possible. For this reason, the media only knows the name and age of his eldest son – Preston Bezos (born in 2000). Both names and birthdays are unknown for his three other children (two more sons and an adopted daughter).

We do know that his eldest son’s name, Preston, has been passed down through the family from his great-grandfather, Lloyd Preston Gise.

When Bezos’s children were much younger, his wife was solely responsible for caring for them full-time, while he focused on building Amazon. Even though Scott and Bezos are separated, they continue to co-parent their kids.

Born in Albuquerque, New Mexico on January 12th, 1964, as a child, Bezos always cared about how things worked in the home. He turned his parent’s garage into his tiny laboratory and rigged electrical contraptions around the house.

When Bezos was twelve, he wanted to get an Infinity Cube – a set of small motorized mirrors, each reflecting off one image, making it seem like a never-ending loop of images. At the time, the Infinity Cube cost $20 and was too expensive for him to purchase. So, instead, he bought mirrors and other components necessary and made one for himself. 

Many believe that Bezos gets most of his relentless drive and character from his adoptive father, Miguel Bezos, who had come to America from Cuba in 1962. During a speech in 2022, Bezos stated that he and his two siblings “could not have had a better role model.”

As a teenager, Jeff and his family moved to Miami, Florida where he attended Miami Palmetto High School. While in high school, Jeff worked at McDonald’s as a short-order line cook. He also attended the Student Science Training Program at the University of Florida and finished high school as valedictorian, receiving a Silver Knight Award.

In his graduation speech, Bezos mentioned that he dreamed of the day he could take everyone off Earth and see humans colonize space.

After graduating high school in 1982, Bezos attended the famous Princeton University. He started as an English major but switched to Electrical Engineering and Computer Science where he reaffirmed his love for software and joined several software projects.

During college, Bezos became the president of the Students for the Exploration and Development of Space (SEDS).

Bezos graduated from Princeton University with a 4.2 GPA and got elected to Phi Beta Kappa and Tau Beta Pi, which are the two oldest academic honor societies in the United States.

After graduating, Bezos got numerous job offers from companies on Wall Street, including Fitel, Bankers. At Fitel, his first task was to help the company build a computer network for international finance. In 1988, he worked at Banker’s Trust to help develop systems for managing investments.

In 1990, Bezos retired from Banker’s Trust to work at D.E. Shaw & Company as a computer specialist. Two years later, he became the youngest vice president at the company and was later promoted to senior vice president.

At D.E Shaw, Bezos was responsible for handling investment opportunities available online. At that time, website usage was growing by more than 2,000 percent a year, which increased his drive for online entrepreneurship.

Bezos quit his job at D.E Shaw in 1994, moved to Seattle, and opened a virtual bookstore. He worked out of his garage with only a few employees and began building the software for the site. Much later, he named his bookstore Amazon, and sold his first book in July 1995.

As an entrepreneur, Jeff Bezos believes in using the same framework to solve complex decisions. He also believes that the fundamental rule to building a startup is to build a business on the foundation of things that remain constant.

While many of his top achievements as an entrepreneur were tied to his company, Amazon, there have also been other achievements linked to different companies such as Blue Origin and Washington Post.

Even though Bezos started Amazon with books, he’d always had plans to expand into as many other areas as possible.

The online giant started life in 1994 in Seattle, thanks largely in part to the city also being home to a major Ingram Book Group distribution warehouse. With an additional $1 million in investment from family and friends, Bezos was able to hire a five-person crew who learned how to source books and continued to work on Amazon.com as an online storefront.

A year later, in 1995, Amazon already had over 1 million titles for buyers to choose from and a popular community for people to leave book reviews and recommend books to one another. This community played a vital role in Amazon’s early growth.

Amazon.com grew to 100 employees in September 1996, racking up to $15.7 million in sales. Three years later, the company had grown again to over $610 million in annual sales.

Now, thanks to continued expansion into many more verticals, Amazon stocks (AMZN) have a total market capitalization of more than $1.50 trillion, owning close to 50 percent of the US e-commerce market, which is close to triple of the combined shares of Apple, Walmart, and eBay.

In 2013, Jeff Bezos developed an interest in the Washington Post newspaper. The suggestion for Bezos to effectively buy out the paper and add it to his portfolio was first brought up by Donald Graham, the son of the Washington Post’s top publisher, Katharine Graham.

Even though Bezos was not initially interested in buying the newspaper, Graham reminded him that the reason for the purchase was beyond his interest in newspapers and was more centered around the need to master the internet. After considering Graham’s suggestion, Bezos decided to look into the company and discovered that their financials weren’t impressive. Their financial decline as a printed newspaper seemed to be due to the rise in internet news.

After purchasing the Washington Post, reports showed that the website’s traffic doubled within three years, and became a profitable business. “I know that when I’m 90, it’s going to be one of the things I’m most proud of, that I took on the Washington Post and helped them through a very difficult transition”, Jeff said in a 2018 interview (also shown below).

Bezos’s childhood dream of becoming an astronaut and taking people into space was a major influence in starting up Blue Origin. Both Bezos and his rival in the space industry, Elon Musk, believe a major key to doing successful things in space is making it easier and cheaper for people to get there.

Blue Origin advanced from a small organization inviting experts to space-themed events to a company that now develops space hardware. A breakthrough for the team was their 2015 debut of the New Shepard rocket. This rocket could carry up to six passengers up to 62 miles into the sky and return safely for reuse, and won the Collier Trophy, making it one of the best aerospace accomplishments in 2016.

The successful launch of Blue Origin’s latest project, New Glenn, will signify another breakthrough for the space company. For Bezos, it also signifies a step closer to bringing about relatively cheap space travel.

Blue Origin is currently headquartered in Kent, Washington, with additional facilities across the United States, including Arlington Virginia, Denver, Colorado, Phoenix, Arizona, Washington, DC, Huntsville, Alabama, Cape Canaveral Space Force Station, and Florida.

Apart from Amazon, Washington Post, and Blue Origin, Bezos has also invested in myriad established companies and startups. Below are some of the companies Bezos has in his stock portfolio:

• Nautilus Biotechnology, Inc.: Nautilus stock (NAUT) currently has a market capitalization of over $250 million. In Q3 2022, the company had up to eleven hedge fund holders. Through Amazon, Jeff Bezos held up to $15 million in shares of Nautilus Biotechnology at the end of Q2, 2021.
• Sonder Holdings Inc.: Sonder Holdings stock (SOND) is currently sitting at more than a $275 million market cap.
• Domo, Inc.: Domo Inc. successfully raised $60 million from Bezos and a handful of other investors. The company specializes in software to improve data visibility for other businesses. Domo has a market capitalization of over $520 million. 
• Nextdoor Holdings, Inc.: Nextdoor Holdings is a communications services provider with its headquarters in San Francisco, California. It operates a social networking service that allows neighbors to report on events and businesses.
• Sana Biotechnology, Inc.: Sana Biotechnology is a healthcare company that experienced a big win in January 2023 after the FDA’s announcement that it had been cleared for cancer treatment. Bezos currently holds a huge stake in the company as it grows.
• Pilot.com, Inc.: Pilot.com is a financial services firm that helps small businesses with payroll management, accounting, bookkeeping, and tax filing. Bezos Expeditions led a $100 million funding round.

Between 2017 to 2021, Jeff Bezos was the wealthiest person in the world. The performance of Amazon alongside his many other investments and initiatives has resulted in a steadily growing portfolio and subsequent net worth. Below is a breakdown of the approximate net worth of this billionaire:

An SEC filing showed that, as of November 2023, Bezos had 988 million shares in Amazon, which accounts for the majority of his wealth. In early December 2023, these Amazon shares were valued at $143 billion. Apart from his shares in Amazon, he earns a salary of just under $100,000 per year, and has a large investment portfolio.

Amazon is a publicly traded company listed on the NASDAQ stock exchange under the ticker symbol ‘AMZN.’ This means that any investor looking to buy can take advantage of their consistent growth.

Here are some of the major reasons that AMZN stock continues to be an investor favourite:

• Online shopping will remain relevant: eCommerce is here to stay. Growth of ‘buy now pay later’ alongside social media’s new focus on ‘buy now’ directly through their platforms will continue to bolster the growth of this online giant, especially through their affiliate (‘influencer’) programs.
• Growth segments: Amazon Web Services (AWS) is a major business segment that deals with cloud computing and commands almost one-third of the industry’s market share. Digital advertising on Amazon is another segment that has experienced 20% year-over-year (YoY) revenue for the last six quarters (as of February 2024).
• Good valuation: AMZN is currently (as of February 2024) considered undervalued as its shares are approximately 18 percent below their peak price. They also traded at a price-to-sales ratio of 2.9, which is below the three-, five-, and ten-year averages. An undervalued stock is generally a good purchase because of the potential for high earnings.

To purchase Amazon stock, investors need to open an account with a quality brokerage firm that offers access to the NASDAQ and allows the trading of individual stocks. Keep in mind that stock prices fluctuate, so it’s important for investors to perform due diligence in relation to their individual investment goals, risk tolerance and time horizon.

It’s no surprise that one of the world’s richest people can afford a yacht. But not only does Bezos own one, he also owns the largest sailing yacht in the world, at a cost of $500 million. 

Jeff Bezos’s super yacht, (which he named Koru), took years to construct and took its maiden voyage in April 2023, sailing from the Netherlands to Gibraltar. Bezos and Sanchez were first spotted in the vessel along the coast of Spain, shortly before their engagement.

In August 2023, the yacht hosted an engagement party for Bezos and Sanchez, which had other wealthy individuals like Bill Gates, Whitney Wolfe Herd, Ari Emanuel, and Leonardo DiCaprio in attendance.

The multi-million dollar yacht has also stirred up some controversy. There was news of a failed attempt to dismantle a local historic bridge in the Netherlands to allow safe passing on the vessel. News of the attempt caused Bezos to experience a lot of pushback, and the billionaire eventually had the yacht secretly towed out of the vicinity.

Here are some amazing Bezos facts and statistics you may have never known:

• Bezos almost named Amazon “Cadabra.”
• Jeff Bezos had a single-line cameo role in the 2016 film “Star Trek Beyond” playing a Starfleet official.
• He was the world’s first ‘centibillionaire’.
• He launched into space for less than 15 minutes with three other people.
• Jeff stepped down as the CEO of Amazon on July 5, 2021.
• Based on his net worth growth, he makes over $1 million an hour.
• He was involved in a helicopter crash in 2003, but walked away with only minor injuries.
• At Jeff’s birth, his mother Jacklyn was only 17 years old.
• Bezos holds a degree in electrical engineering and computer science from Princeton University.
• Before starting Amazon, Bezos worked on Wall Street in various capacities, including for the investment bank D.E. Shaw & Co.
• Amazon has made numerous acquisitions under Bezos’s leadership, including Zappos, Twitch, and Whole Foods Market.
• Bezos purchased The Washington Post in 2013 for $250 million, marking his foray into the media industry.
• Bezos owns multiple properties, including homes in Seattle, Washington, and Beverly Hills, California, as well as a ranch in Texas.

Lots of wealthy people have their controversial moments and Bezos is certainly no exception.

1. Controversy Over Wealth and Philanthropy: As one of the wealthiest individuals in the world, Jeff Bezos has faced criticism for his perceived lack of philanthropy in proportion to his wealth. Unlike his ex-wife, Bezos has also refused on numerous occasions to join the ‘Just Giving’ pledge created by fellow billionaire Bill Gates. Despite launching initiatives like the Bezos Earth Fund, some have called for Bezos to commit a more significant portion of his wealth to philanthropy.

2. Labor Disputes and Unionization Efforts: During Bezos’s tenure at Amazon, the company faced numerous labor disputes and criticism over its treatment of workers. While these controversies primarily involve Amazon as a corporate entity, Bezos, as its founder and former CEO, has been a central figure in discussions about workers’ rights, unionization efforts, and labor conditions within the company. Bezos’s personal wealth and leadership style have been focal points in debates over fair labor practices in the tech industry.

According to Brad Stone’s “The Everything Store: Jeff Bezos and the Age of Amazon”, Jeff would speak to employees in an unnecessarily derogatory way, including using phrases such as:

• “I’m sorry, did I take my stupid pills today?”
• “If I hear that idea again, I’m gonna have to kill myself.”
• “Why are you ruining my life?”
• “Are you lazy or just incompetent?”
• “I trust you to run world-class operations and this is another example of how you are letting me down.”

3. Superyacht: Jeff Bezos has also faced criticism regarding his plans for another massive superyacht, estimated to be one of the largest in the world. The yacht, named “Flying Fox,” reportedly spans over 400 feet in length and is equipped with luxurious amenities, including multiple decks, swimming pools, and helicopter pads. At a time when income inequality is a pressing issue and climate change is a global concern, Bezos’ investment in a lavish superyacht has sparked debates about wealth distribution, conspicuous consumption, environmental sustainability and corporate responsibility. Some view it as a display of extravagance disconnected from the needs of society, while others defend Bezos’ right to spend his wealth as he sees fit.

• “Your brand is what other people say about you when you’re not in the room.” – 2018 letter to Amazon shareholders.
• “I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.” – Interview with his brother Mark Bezos during a TED talk in 2017.
• “We’ve had three big ideas at Amazon that we’ve stuck with for 18 years, and they’re the reason we’re successful: Put the customer first. Invent. And be patient.” – 2016 letter to Amazon shareholders.
• “If you’re not stubborn, you’ll give up on experiments too soon. And if you’re not flexible, you’ll pound your head against the wall and you won’t see a different solution to a problem you’re trying to solve.” – 2014 interview with Business Insider.
• “The common question that gets asked in business is, ‘why?’ That’s a good question, but an equally valid question is, ‘why not?'” – Cited in various business articles and interviews.
• “A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.” – 2001 letter to Amazon shareholders.
• “If you double the number of experiments you do per year you’re going to double your inventiveness.” – 2014 Business Insider interview.
• “You have to be willing to be misunderstood if you’re going to innovate.” – 2016 interview with Editor Martin Baron during the Washington Post’s Transformers event.
• “One of the only ways to get out of a tight box is to invent your way out.” – 2011 Wired interview.
• “In the end, we are our choices.” – Cited in various business articles and interviews.

Created in 2020, the Bezos Earth Fund Foundation believes that climate issues cannot be solved by just one country, a single person, or a single philanthropic project. Instead, the foundation promises to build an effective and equitable environmental movement by partnering with grantee partners and peers to reach their $10 billion pledged goal.

Apart from the efforts in Bezos Earth Fund foundation, he has also donated up to $120 million to organizations to help the homeless. Some of the organizations that benefited from that donation include:

• Abode Services, Fremont, CA – $5 million
• BronxWorks, New York, NY – $5 million
• Catholic Charities of the Archdiocese of Miami, Inc., Cleveland, MS – $1.25 million
• Council of the Homeless, Vancouver, WA – $5 million

However, Bezos hasn’t signed the Giving Pledge and remains mute about doing so in the future. The Giving Pledge is a charitable campaign by Bill Gates and Warren Buffet with the intent to get some of the world’s richest people to give out most of their wealth during their lifetime. While he has pledged independently to give away half of his net worth (as it sat at $166 Billion), the current amount still sits at under 10% of this number.

Jeff Bezos’s journey from a garage start-up to becoming one of the world’s wealthiest individuals and the driving force behind Amazon’s meteoric rise exemplifies the power of innovation, determination, and long-term vision in the realm of business. His leadership actions, while not always considered nurturing, have not only shaped Amazon’s success but have also left a lasting impact on the broader landscape of entrepreneurship and commerce. While Bezos and Amazon have faced criticism and controversies along the way, their relentless focus on customer-centricity, innovation, and long-term thinking has propelled them to a maintained position at the forefront of the digital age.

As Jeff Bezos transitions to new ventures and initiatives beyond his role at Amazon, his legacy as a transformative figure in business will continue to inspire entrepreneurs and innovators. Whether through his bold vision for space exploration with Blue Origin or his philanthropic endeavors, Bezos remains a compelling figure whose influence extends far beyond the realm of e-commerce.

Jeff Bezos became a billionaire in 1999 at the age of 35. When Bezos turned 56 years old, he became the world’s first “centibillionaire”.

Jeff Bezos has four children with his ex-wife, MacKenzie Scott – three sons and a daughter. While Bezos is one of the most famous men in the world, he keeps the lives of all his children private, except for the name of his first son, Preston.

Bezos was born on January 12, 1964, and he’s currently 60 years old.

Bezos was born in Albuquerque, New Mexico, in the United States.

Jeff Bezos’ current fiancé is TV presenter Lauren Sanchez. The couple have been engaged since May 2023. At the start of their relationship, Sanchez was also divorcing her ex-husband, Hollywood agent Patrick Whitesell.

In 2023 after 29 years of his primary residence being in Seattle, the billionaire announced his move to Miami. Bezos currently has a property portfolio worth more than $500 million.