Jeff Bezos the richest man in the World
Jeff Bezos , byname of Jeffrey Preston Bezos, (born January 12, 1964, Albuquerque, New Mexico, U.S.), American entrepreneur who played a key role in the growth of e-commerce as the founder and chief executive officer of Amazon.com, Inc., an online merchant of books and later of a wide variety of products. Under his guidance, Amazon became the largest retailer on the World Wide Web and the model for Internet sales.
After Jeff Bezos graduated from Princeton University in 1986, he was offered jobs at Intel, Bell Labs, and Andersen Consulting, among others. He first worked at Fitel, a fintech telecommunications start-up, where he was tasked with building a network for international trade. Bezos was promoted to head of development and director of customer service thereafter. He transitioned into the banking industry when he became a product manager at Bankers Trust. He worked there from 1988 to 1990. He then joined D. E. Shaw & Co, a newly-founded hedge fund with a strong emphasis on mathematical modelling in 1990 and worked there until 1994. Bezos became D. E. Shaw’s fourth senior vice-president at the age of 30.
Quick facts of Jeff Bezos
- Jeff Bezos founded e-commerce colossus Amazon in 1994 out of his garage in Seattle. He runs it as CEO and owns an 11.1% stake.
- Between March and April 2020, amid the pandemic, Amazon said it hired 175,000 additional workers.
- In April 2020, Jeff Bezos said he would give $100 million to Feed America, a nonprofit that operates food banks and food pantries across the country.
- Amazon has faced criticism from U.S. senators and the general public for its treatment of warehouse workers during the coronavirus pandemic.
- Jeff Bezos divorced his wife MacKenzie in 2019 after 25 years of marriage and transferred a quarter of his Amazon stake to her.
- In 2019, Amazon notched $280.5 billion in revenues and a record $11.5 billion in net profit.
- Jeff Bezos owns The Washington Post and Blue Origin, an aerospace company that is developing rockets for commercial use.
Amazon quickly became the leader in e-commerce. Open 24 hours a day, the site was user-friendly, encouraging browsers to post their own reviews of books and offering discounts, personalized recommendations, and searches for out-of-print books. In June 1998 it began selling CDs, and later that year it added videos. In 1999 Bezos added auctions to the site and invested in other virtual stores. The success of Amazon encouraged other retailers, including major book chains, to establish online stores.
Jeff Bezos’s Awards & Recognitions
- In 1999, Bezos received his first major award when Time named him Person of the Year.
- In 2008, he was selected by U.S. News & World Report as one of America’s best leaders.
- Jeff Bezos was awarded an honorary doctorate in science and technology from Carnegie Mellon University in 2008.
- In 2011, The Economist gave Bezos and Gregg Zehr an Innovation Award for the Amazon Kindle.
- In 2012, Bezos was named Businessperson of the Year by Fortune.
- He is also a member of the Bilderberg Group and attended the 2011 Bilderberg conference in St. Moritz, Switzerland, and the 2013 conference in Watford, Hertfordshire, England. He was a member of the Executive Committee of The Business Council for 2011 and 2012.
- In 2014, he was ranked the best-performing CEO in the world by Harvard Business Review. He has also figured in Fortune‘s list of 50 great leaders of the world for three straight years, topping the list in 2015.
- In September 2016, Bezos received a $250,000 prize for winning the Heinlein Prize for Advances in Space Commercialization, which he donated to the Students for the Exploration and Development of Space.
- In February 2018, Bezos was elected to the National Academy of Engineering for “leadership and innovation in space exploration, autonomous systems, and building a commercial pathway for human space flight”.
- In March 2018, at the Explorers Club annual dinner, he was awarded the Buzz Aldrin Space Exploration Award in recognition of his work with Blue Origin.
- He received Germany’s 2018 Axel Springer Award for Business Innovation and Social Responsibility. Time magazine named him one of the 100 most influential people in the world in their 2018 listing.