In the following piece, we dive into Amazon’s (AMZN) founder, Jeff Bezos, and his journey from starting Amazon in his garage to becoming the founder of a space exploration company. As of November 2024, his estimated net worth is nearly $230 billion, making him the third-richest person globally, according to Forbes’ Real-Time Billionaires Index.
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Bezos’s Rise to Prominence
Jeff Bezos founded Amazon in 1994 out of his garage with a $10,000 investment and support from his now ex-wife, Mackenzie Scott. Under his leadership, Amazon became the world’s largest online retailer. In Fiscal 2023, Amazon reported approximately $575 billion in net sales, with Americans spending about $7.2 trillion on e-commerce that year, nearly half of which was through Amazon.com. Bezos stepped down as CEO of Amazon in 2021 but continues to serve as executive chair. He owns just under 9% of Amazon, a significant factor in his immense fortune.
Financial Milestones
- 1994: Founded Amazon with a $10,000 investment.
- 2011: Invested about $85 million in Workday.
- 2013: Purchased The Washington Post for $250 million.
- 2021: Blue Origin raised $185 million in a funding round.
- 2024: Owns approximately 926 million shares in Amazon.
- 2024: Estimated net worth of $230 billion.
It’s Not Just About Amazon
In a natural development, Bezos has broadened his operations to include one of the most influential news media in the United States and founded a space exploration company, taking a page from Elon Musk’s playbook.
The Washington Post: Bezos purchased The Washington Post for $250 million in 2013. The site initially enjoyed a remarkable increase in traffic and audience engagement. However, it has faced a decline of over 50% in traffic in recent years. Furthermore, the publication lost hundreds of thousands of subscribers in October 2024 following the decision not to endorse a candidate in the presidential election. However, it must be stressed that mainstream media, in general, have struggled to keep pace with the new media (Such as podcasts) in the last 15-20 years and have dealt with ethical and trust issues.
Blue Origin: Bezos founded Blue Origin in 2000, but it has only recently started to attract more attention. The company was the first to launch a reusable rocket in 2016, and in 2021, Bezos participated in Blue Origin’s first successful crewed flight to space. The company raised $185 million in a funding round in December 2021 and continues to plan more launches, including the New Glenn rocket.
Bezos’s Other Notable Investments
Bezos holds shares in several major companies beyond Amazon. Here are two that stand out:
Uber: Bezos invested over $30 million in Uber (UBER) in 2013.
Workday: According to Market Realist, Bezos Invested around $85 in the company before its IPO in 2012. Workday (WDAY) is now worth over $70 billion.
Real Estate Portfolio
Finally, let’s briefly examine some of Bezos’s real estate across the U.S., which is valued at over $500 million.
- Jack Warner Estate: Beverly Hills, Calif., bought for $165 million in 2020.
- Miami Properties: Three properties on Indian Creek Island worth about $177 million combined.
- Maui Property: A $78 million 14-acre property bought in 2021.
- New York City Apartments: Three apartments overlooking Madison Square Park were bought for $80 million in 2019.
- Texas Ranch: A 400,000-acre ranch serving as Blue Origin’s base.
- Yacht: A 417-foot yacht costing over $500 million.
