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Jeff Bezos

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Jeff Bezos launch Amazon.com

 

E-commerce founder Jeff Bezos founded Amazon, owns The Washington Post, and founded Blue Origin. His business prowess made him one of the world’s richest men. Bezos, a New Mexican, studied computer science and electrical engineering at Princeton; in 1990, he became the firm’s youngest senior vice president. Four years later, Bezos quit his lucrative job to launch Amazon.com, an Internet success story. And in 2017, he acquired Whole Foods.




 

Educate

The Jorgensens were short-lived. When Bezos was 4, his mother married Cuban Mike Bezos. Having studied computer science and electrical engineering at Princeton, Bezos graduated in 1986. Bezos used his parents’ garage as a laboratory and rigged electrical devices throughout his childhood. He grew up in Miami, where he excelled in math and science. He founded the Dream Institute in high school, a summer program for fourth, fifth, and sixth graders.



Finance Job

Bezos then worked at Fitel, Bankers Trust, and D.E. Shaw. Vice President at D.E. Shaw since 1990, Bezos chose e-commerce over a lucrative career in finance. On the Internet, he started an online bookstore in 1994.

Amazon.com CEO

Amazon.com was created on July 16, 1995, named after a South American river. Several colleagues worked in Bezos’ garage before relocating into a two-bedroom house with three Sun Microstation.

Early success was tremendous. A month with no press promotion and Amazon.com sold books in 45 nations Sales soared to $20,000 per week in two months, faster than predicted by Bezos.

Many industry analysts questioned Amazon.com’s capacity to compete when traditional retailers created their e-commerce sites. Soon after, the start-up outperformed competitors in e-commerce.

Then came CDs and movies in 1998, followed by apparel, electronics, toys, and more through significant retail partnerships. Amazon has grown from $510,000 in 1995 to nearly $17 billion in 2011.

Bezos revealed it in his 2018 annual shareholder letter to celebrate the milestone. Amazon surpassed Apple’s $1 trillion valuations in September 2018. Amazon increased its minimum wage to $15/hour in December 2018. On Prime Day in July 2019, workers criticized the company’s working conditions and speed.

Amazon Studios & SVOD

Amazon launched VOD in 2006. When Amazon Instant Video was TiVo’s Amazon Unbox, In 2013, Bezos’ Amazon Studios announced a slew of In 2014, Transparent and Mozart in the Jungle were praised.

In 2015, the company released Spike Lee’s Chi-Raq.

Bezos appeared as an alien in Star Trek Beyond in 2016. On IMDb, Bezos is listed as a Starfleet Official. To focus on developing categories like digital entertainment and Alexa, Amazon simplified its consumer retail operation in early 2018.

EPUB KINDLE

Customers may buy, download, read, and store books on the Kindle. Amazon’s first tablet, the Kindle Fire, came out in 2011. He introduced the Kindle Fire HD in September 2012, a tablet aimed to compete with Apple’s iPad. “We didn’t produce the best value tablet.” “Any price for the finest tablet,” Bezos told ABC News.

AWS UAVs

When Bezos launched “Amazon Prime Air” in early December 2013, he made headlines. According to him, the drones could carry up to five pounds and travel up to 10 kilometers.

I-Phone

A significant error by Amazon in 2014 was the Fire Phone. In the following year, it was canceled.

WHFoods

Amazon paid $13.7 billion in cash for Whole Foods in 2017. Offers for Amazon Prime members in-store and supermarket delivery in two hours or less. As a result, Walmart and Kroger began delivering meals.

The deal terminated a four-generation Graham family monopoly on The Post Co., including chairman and CEO Donald E. Graham and publisher Katharine Graham.

According to Graham, “The Post may have been successful under the company’s hands for a long period.” “But more.” It doesn’t guarantee success, but it helps.”

On August 5, Bezos wrote to Post staff:

Post principles need not alter.

Change is coming to The Post. That’s a certainty, regardless of new ownership. However, it permits new kinds of competition with minimal or no news-gathering expenditures.”

Mr. Bezos doubled the technical workforce (hundreds of those employees published an open letter to their boss asking for salary increases and better benefits in the summer of 2018).

He resigned after acknowledging former National Security Advisor Michael Flynn lied about his Russian contacts. In 2016, the group declared profit. Ad revenue increased by double digits for three years. ComScore says Amazon topped The New York Times digital for unique users.


OME

For paying customers, the millionaire founded Blue Origin in 2000. For 15 years, no one noticed. In 2016, he hosted journalists in Kent, Washington, south of Seattle.

He envisaged humans conquering space. In 2017, he offered to sell $1 billion of Amazon stock to help Blue Origin. Ses clients were testing the New Shepard suborbital rocket, which would take them into space for a few minutes.

A space road Bezos sees great things happening.

NASA selected Blue Origin as one of 13 companies to collaborate on 19 technology initiatives to reach the moon and Mars. Blue Origin is developing a safe lunar landing system and liquid propellant rocket nozzles. NASA is working on reusable rocket development and launch from a rebuilt Kennedy Space Center facility.

DAY 1FUND

 

A network of new non-profit tier-one preschools in low-income areas is also part of the plan. A year before, Bezos had asked his Twitter followers how to share his wealth. When he married MacKenzie, Bezos gave $2 billion of his own money to the foundation. Bezos, a billionaire, has been criticized for his lack of humanitarian activities.

Health Invest

To lower expenses and enhance patient satisfaction, the company would be “free of profit-making objectives and limitations.” “We recognize that the healthcare system is complex,” Bezos remarked. “It would be worthwhile to reduce healthcare costs while improving worker and family outcomes.”

EF

On February 17, 2020, Bezos announced the Bezos Earth Fund. Bezos said he’d fund “scientists, campaigners, NGOs – any effort that helps protect and defend the natural environment.”

CEO leaves

Alexa revealed in February 2021 that Bezos would step down as CEO in Q3. He’ll lead Amazon.

Husband, children

In their roles as senior vice president and administrative assistant at D.E. Shaw, Bezos and MacKenzie Tuttle met. They got engaged after three months and married in 1993.

MacKenzie was Amazon’s first accountant and helped create its business strategy. That she and her spouse liked books was public. MacKenzie is a published author of The Testing of Luther Albright and Traps.

After 25 years, Bezos and MacKenzie divorced in 2019. Bezos’ stake in Amazon has dropped from 16 percent to 12 percent, while MacKenzie’s is over $37 billion.

MacKenzie plans to give away at least half her riches. Bezos and MacKenzie have three Chinese children.

Personality

After divorcing MacKenzie in January 2019, The National Enquirer published an 11-page expose on Bezos’ extramarital affair with TV anchor Lauren Sanchez.


Bezos then looked into The National Enquirer and American Media Inc. An accusation that AMI would publish personal photos unless Bezos dropped the inquiry.  Sanchez divorced in April. In July, she made her first public appearance with Bezos.

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