Jeff Bezos - How did the world's richest billionaire build the Amazon empire?

Jeff Bezos full name is Jeffrey Preston, is a famous American technology businessman. At the same time, he also plays an important role in the development of e-commerce globally. Jeff Bezos founded and runs the world famous e-commerce company Amazon.com.

Amazon is now the World Wide Web's largest retailer and the world's largest internet sales model for many of the world's brands. He is currently the richest billionaire in the world with a total net worth of up to 180 billion USD (as of July 30, 2020).

Jeff Bezos was born on January 12, 1964 in the United States. Jeff Bezos' mother, Jackie, gave birth to him when he was only 17 years old. His parents divorced when Jeff was 4 years old, his biological father was a circus performer. When news agency Brad Stone interviewed Jeff's father for the book "The Everything Store" about Amazon, he didn't even know how successful his son was.

Not long after that, she married Mike Bezos, the Cuban immigrant who adopted her and her two children. It was not until the age of 10 that Jeff learned the truth that Mike was not his biological father.

From an early age, he has always shown his intelligence. From the age of 4-16, he spent his summer vacation living on his grandfather's farm. Here, he was passionate about jobs such as repairing windmills or herding cows.

For Jeff Bezos, his grandfather is a great inspiration to help him develop a passion for knowledge. He once shared that his grandfather once taught that: "It is easier to be intelligent than to be a good person".

He graduated from Miami Palmetto High School. Then earned a degree in electrical engineering and computer science from Princeton University.

Start a business

While in high school, Jeff Bezos started his first business. After spending a summer working part-time at McDonald's, Bezos and his then-girlfriend founded the Dream Institute - a 10-day summer camp for children. They charged 600 USD per child, then 6 people signed up to participate.

In 1984, he started working as a programmer and analyst in Norway. By 1985, he had successfully improved the IBM program in California. After graduating from college, he worked at several Wall Street firms such as: Fitel Bankers Trust; Investment company DE Shaw & Co...

In 1990, Jeff Bezos became Vice President at DE Shaw & Co, and also the youngest vice president of the company. After 4 years at this business, Bezos decided to quit in 1995 to focus on his own career.

The process of building and developing Amazon

In late 1993, Bezos founded a small online bookstore. Then at the end of 1994, he decided to start Amazon after quitting his job at DE Shaw & Co. Amazon started out as an online bookstore. In the first few months of its establishment, Amazon sold books to all people in 50 states in the US and 45 countries around the world.

The company was originally named Cadabra, but later changed its name to Amazon. To found Amazon, Bezos had to borrow $300,000 from his parents. When newly founded, many capitalists predict that 70% of companies will fail and go bankrupt. However, the sudden success of Amazon surprised everyone, especially Jeff Bezos.

Three years after founding Amazon, Bezos went public with an IPO. In 1998, he expanded the products sold on Amazon such as consumer goods, fashion, electronic devices... Jeff Bezos used $ 54 million raised in a share offering in the same year. 1997 to finance the acquisition of smaller competitors.

In 2002, he and company management launched Amazon Web Services, which aggregated data from weather channels and website traffic. By the end of that year, due to the rapid pace of spending, the company fell into a difficult financial situation, and revenue stagnated. However, after only a year, Amazon restored stability, bringing in profits of up to $ 400 million.

Up to now, after more than 20 years of IPO, Amazon has grown steadily with a market capitalization of more than 900 billion USD. In August 2017, the company officially acquired Whole Foods for $13.7 billion. Not only that, Amazon.com also became the largest e-commerce website in the world.

Prove that 8 hours of sleep is a 'golden' number

Running one of the biggest companies in the world didn't stop billionaire Jeff Bezos from getting eight hours of sleep. Although the Amazon founder says he sometimes can't guarantee eight hours of sleep, whenever possible, he strives to achieve this goal.

In a discussion at the Economic Club of Washington in 2018, the billionaire shared: "When I sleep for eight hours, I feel better. My energy is more abundant. My mood is also."

Bezos is quite thoughtful about why he believes that getting a full eight hours of sleep is the key to increasing productivity and making high-quality decisions.

He gave an example to illustrate: "Let's be a little crazy and assume that I only sleep 4 hours a day. Then I will have 4 more hours. If before, when I slept for 8 hours, I had about 12 hours of productive work, now I have 16. That means 33% more time to make decisions. But is it really worth it if the quality of the work. decisions can be lower because I'm always tired or cranky? Definitely not worth it."

What makes getting 8 hours of sleep a day possible for a super busy person like Bezos? The answer lies in his daily routine.

“I go to bed early and wake up early,” says Bezos. of the day at 10 a.m. The first meetings of the day require the most brain work, so I always run the high IQ meetings before lunch if something is really mentally challenging. It was the 10 am meeting. By 5 pm, I felt like I couldn't think about it anymore. At that point, I decided to try again at 10 am the next morning.” .

The most expensive divorce in the history of the world

Billionaire Jeff Bezos and writer MacKenzie Bezos suddenly announced their divorce after 25 years of marriage in January 2019. The two confirmed that even though they broke up, they were still friends.

Jeff and MacKenzie Bezos' decision was announced by the 54-year-old American billionaire on his personal Twitter account: "We want people to understand the changes in our lives. Like family and close friends. As we know, after a long time of discovering love and trying to live apart, we (Jeff and MacKenzie) have decided to divorce and continue living life as friends," the couple affirmed.

According to Forbes, Bezos' net worth as of January 9 is $136.5 billion.

The Amazon owner and his wife have three sons together and adopted a daughter of Chinese descent. Jeff and MacKenzie Bezos also own several properties.

In July 2019, the most expensive divorce in history also ended.

Accordingly, Ms. MacKenzie received 25% of total assets, equivalent to 4% of Amazon shares, worth $ 38 billion. This money helps the ex-wife of the Amazon boss to become the third richest woman in the world. Ms. MacKenzie will be behind Francoise Bettencourt Meyers (L'Oréal) and Alice Walton (Walmart), each with a net worth of up to $50 billion.

"This is the most popular divorce. There is no other divorce this big because of the amount of assets it is divided," said Peter Walzer, president of the American Academy of Matrimonial Lawyers.

Mrs. MacKenzie is a novelist with many published works. She was also one of Amazon's first employees when the company was founded in 1994. Jeff and MacKenzie are said to have jointly created Amazon plans when the two drove their car across the United States, from New York to Seattle. .

In an interview with Vogue in 2013, MacKenzie admitted she and Jeff Bezos had opposite personalities, but said it was a good thing because it was a couple who would make up for each other's shortcomings.

In early February 2021, billionaire Jeff Bezos announced that at the end of this year he would step down as CEO of Amazon. Accordingly, the world's richest billionaire said he will hand over the role of Amazon CEO in the third quarter to Andy Jassy, head of Amazon's web services division.

To have the success today with a huge fortune, Jeff Bezos has experienced many ups and downs in his career. However, with his bravery and resilience, he did not back down in the face of difficulties, allowing him to have the resounding success he has today.

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