Jeffrey Preston Bezos: The World’s Most Powerful BusinessmanJuly 30, 2021
Jeff Bezos was born on January 12, 1964 in Albuquerque, New Mexico and has enjoyed a meteoric rise through the American business world. After graduating in 1993, he briefly worked at the consulting firm McKinsey & Company before taking the leap into the world of technology. Bezos became a tech consultant at a company called Electronic Data Systems (EDS), while he began developing what would become his online retail giant Amazon. In 1995, Bezos and Amazon’s first investor, Paul Allen, co-founded a venture which became Web portal ICQ.
In 1997, Bezos invested US$500,000 in an online book-publishing company and it later launched as Amazon.com, the world’s largest online retailer. In 1998, Bezos led a group of investors who purchased a Washington Post newspaper, and led it to profitability within six years. In 2008, Bezos became CEO of online retail giant Amazon. He met his wife, MacKenzie, who later became his wife, in college. Bezos later dropped out of college to work full time for Amazon. After the marriage, the couple moved to Seattle, where they were both based. MacKenzie Bezos serves as the company’s chief of staff, and the couple has four children.
How Did Jeff Bezos Become So Successful?
When Amazon first started out, they were very much an online bookstore. Amazon.com sold books and had a lot of competition. Since the early 2000’s, Amazon has grown to be the world’s biggest online retail store. Over the years, Amazon has become so successful that it has become a target of criticism. These critics have accused Amazon of destroying their local retailers, as well as being detrimental to local economies in general.
It was Bezos’s determination to revolutionize the retail sector that established the e-commerce titan. After spending $250,000 on a computer and investing the next $5 million in Amazon.com, Bezos had the vision that would ultimately drive the company to success. He approached the idea of using the Internet to sell books and electronics as an after-school hobby. He is a pride owner of Amazon, Blue Oirigin and The Washington Post.
How Did Bezos Build Amazon?
In 1994, Bezos started a website called Amazon.com, offering books in easy-to-read book form. He also ran a bookstore on the site. He was working at Harvard Business School and knew little about the e-commerce business. So he outsourced the operation to a couple of friends and began to think about how to turn the site into a proper business. In the end, he decided to sell books, but the format could easily be changed. Initially, he told Amazon customers to buy with one click, but gradually changed the company to a consumer-facing website where customers had to submit their credit card information.
Bezos grew Amazon from a tiny startup to a global e-commerce site. He was made wealthy in the process. What does Jeff Bezos do? Bezos started Amazon in 1994. Beginning his career as an investor, Jeff Bezos is now the wealthiest person in the world, with a net worth of approximately $210 billion according to Forbes. He also owns the space transport company Blue Origin and satellite-making Company Blue Origins, which together serve as the most important elements of his “other businesses.”