Jeff Bezos, the founder of Amazon.com, is now the richest man in modern history after his company's value was placed at US$150 billion.
Jeff Bezos is well-known for being the owner of Amazon.com Inc., the largest internet retailer in the world. So it comes as no surprise that he is the richest man in the world.
And on July 16th, also known as Amazon Prime Day, Bezos became the richest man in modern history!
With a net worth of over US$150 billion, Jeff Bezos beat out Bill Gates, the 2nd richest person, by over US$55 million.
How did he become the richest man in modern history?
Amazon.com initially started out as an online bookstore back in 1994. Despite critical reports from business magazines and papers, he believed that his online business would overtake larger book retailers.
In 1998, Amazon started selling music and video, and by the end of the year, his site was selling consumer goods online.
In November of 2007, Amazon launched the Kindle, an e-book reader which became a massive success.
Since then, Amazon’s value kept on growing and is currently the largest online retailer in the world.
Currently valued at just a little over US$150 billion, Jeff Bezos even beat out the US$100 billion mark that Bill Gates set in 1999, which is worth about US$149 billion when accounting for inflation.
In 2018 alone, Bezos’ worth skyrocketed by US$52 billion, which is more than the net worth of Alibaba Chairman Jack Ma.
He quit his job to focus on Amazon
Having founded Amazon when he was only 30 years old, Jeff Bezos decided to quit a highly lucrative job in Wall Street to start his online business.
The reason behind this was that Bezos read a report about the growth of the internet which at the time, was growing at a rate of 2,300% per year.
During a 2010 speech at Princeton, Bezos said, “I’d never seen or heard of anything that grew that fast, and the idea of building an online bookstore with millions of titles — was very exciting to me.”
He added that one of the reasons why he took the leap was that he didn’t “want to be 80 years old and in a quiet moment of reflection, thinking back over my life and cataloging a bunch of major regrets.”
Bezos’ calculated risk eventually paid off, but he hasn’t stopped there.
In 2000, Bezos started Blue Origin, a startup company focusing on human spaceflight. Bezos has said before that he hopes to colonize the solar system, and believes that humanity’s future is in the stars.
However far-fetched it may sound, it might not be too impossible considering Jeff Bezos’ track record.
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