Jeff Bezos is an entrepreneur, investor, and computer engineer best known for founding the online retail platform Amazon. In this specific article, we’ll take a look at Jeff Bezos’ net worth in 2021.
Jeff Bezos net worth in 2021 (estimate): $ 195 billion
Jeff Bezos’ net worth in 2021 is $ 195 billion. This number is according to many reputable outlets, including Celebrity Net Worth.
Jeffrey Preston Jorgensen was born in Albuquerque, New Mexico. His last name is said to be changed to Bezos due to his mother’s remarriage. His family will move to Miami, where he attended Miami Palmetto High School while working as a line cook for McDonald’s.
Bezos would graduate from high school as a valedictorian, as well as being honored as a National Merit Scholar and Silver Night Award. He would then take the University of Florida Science Student Training Program.
He would attend Princeton University thereafter, graduating summa cum laude with a bachelor’s degree in electrical and computer engineering. He would achieve a GPA of 4.2 at Princeton.
After graduating, Bezos joined forces with the Fintech start-up Fitel, for which he was tasked with building networks for international trade. He will then be promoted to Head of Development and Director of Customer Service.
That would be it for Bezos and Fitel, as Bezos turned to the banking industry through Bankers Trust. He worked as a product manager for Bankers until he joined hedge fund DE Shaw & Co. He became the company’s fourth senior vice president before leaving the company at age 30 years old.
A year before leaving DE Shaw & Co., Bezos decided to start his own business in the form of an online bookstore. After leaving the hedge fund, he founded Amazon on the spot, then in his garage. The name Amazon was born for SEO reasons, as well as Bezos wanting to associate his fledgling platform with the biggest river in the world (in the sense that he hoped and envisioned Amazon to become the biggest online bookstore in the world). He started his online bookstore with an investment of $ 300,000 from his parents.
Again, this all attributes to Jeff Bezos’ net worth in 2021.
Bezos predicted that the growth of the Internet would outweigh the advantages of its more established competitors, like Barnes & Noble and other traditional bookstores. It will soon expand its products to music and video, and other consumer goods will arrive soon after.
After briefly diving in 2002 when Amazon was doing poorly financially (due to massive spending and withdrawal income), Amazon has grown in size and revenue year on year. The company will not increase its growth rate until 2007 after introducing the Amazon Kindle, the world’s most recognizable e-reading device. Soon after, Amazon established itself as the world’s leading online shopping retailer.
Almost a decade later, Bezos sold more than one million shares of Amazon for $ 671 million, the largest sum of money he has ever raised by selling shares. He would sell yet another million the following year, this time for an increase of $ 756.7 million.
In 2017, Bezos would reach the pinnacle of wealth by becoming the richest person in the world, overtaking Microsoft’s Bill Gates with a net worth of $ 90 billion. His net worth would cross the $ 100 million mark later that year.
In 2018, Bezos’ Amazon stock holdings appreciated to over $ 109 billion. This coincided with the company reporting its highest quarterly net profit on record, at $ 2 billion, around the same time. In March 2018, it was officially recognized by Forbes as the richest man in the world, Bezos reaching a net worth of $ 112 billion. He has also been called “the richest person in modern history” by The Wall Street Journal, the Bloomberg Billionaires Index, Fortune, and MarketWatch.
However, his wealth would be reduced by nearly $ 11 million, as controversies over tax evasion and unethical industry practices caused Amazon’s stock price to drop by around 9 million. %. These criticisms, emanating from then-US President Donald Trump, were fueled by related comments from Bernie Sanders. Sanders criticized the wages of Amazon employees. This was after reports revealed that many Amazon employees in Arizona, Pennsylvania and Ohio were relying on food stamps.
In response, Bezos announced a company-wide wage hike with the company minimum wage raised to $ 15, seen as support for the Fight for $ 15 movement.
Three years later, Bezos announced he would step down as CEO of Amazon after almost 27 years, to be replaced by Andy Jassy. Bezos is now the executive chairman of Amazon’s board of directors. He gave his main reason for quitting as a way to give more time and focus on his other endeavors, such as Blue Origin (human spaceflight startup), Day 1 Fund (fund for nonprofits focused on the fight against homelessness), the Bezos Earth Fund and others.
Bezos has taken numerous hits to his net worth over the years, the most popular of which is his divorce from then-wife MacKenzie Bezos, in which the founder of Amazon was forced to give the latter 25% of its Amazon shares. Nonetheless, he built up a net worth of $ 195 million in 2021, a rather staggering and incomprehensible amount of money.
He is currently in 2nd place as the richest man in the world, just behind Elon Musk of Tesla and SpaceX ($ 202 billion). He is ahead of Bernard Arnault of Louis Vuitton, Mark Zuckerberg of Facebook and the aforementioned Bill Gates.
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