Jeff Bezos has stepped down as CEO of Amazon. How much is the iconic billionaire worth?
Jeff Bezos stepped down as CEO of Amazon – the company he founded and which made him a global figure – on July 5, 2021. He chose this day for sentimental reasons. It was, after all, the 27th anniversary of the day the company was incorporated in 1994. About a year later, on July 16, 1995, Seattle-based Amazon opened its virtual doors and began selling books. online. Bezos himself helped pack the orders and deliver the boxes to the post office for shipment.
Since those early days, Bezos’ wealth has multiplied to stratospheric figures. On July 5, when he became executive chairman of Amazon, Forbes ranked Bezos as the richest person in the world with a net worth of $ 201.8 billion, more than $ 30 billion more than the second on the list, Tesla and SpaceX CEL Elon Musk.
In early January 2021, Bezos was overtaken by Musk as the richest person on the list – briefly. In 2020, Bezos claimed that niche as the richest person in the world for the third year in a row, despite donating $ 36 billion of his Amazon shares to his ex-wife, MacKenzie Scott, as part of their divorce settlement in 2019.
Bezos amassed incredible wealth – and a major controversy over the amount he pays workers and donates to charities – while using Amazon for disrupt virtually all consumer industries.
Read on to see how Bezos’ ideas changed the way you shop, and how he made an absolute fortune in the process.
Jeff Bezos net worth
As Amazon shares continued to climb, hitting a market valuation of $ 1.7 trillion, so did Bezos’ net worth. On July 6, 2016, an Amazon stock was valued at $ 745.81. Five years later, it was $ 3,510.98. Bezos has other investments that bolster his position as the richest person in the world, including ownership of the Washington Post and Blue Origin, which develops rockets for commercial use.
Jeff Bezos steps up charitable giving
Jeff Bezos has not always been considered the most generous billionaire – especially compared to Bill Gates and Warren Buffett – as he has donated fewer than others in similar positions to charities or causes. Bezos also refrained from participating in The Giving Pledge. Ex-wife MacKenzie Scott got involved in the initiative, in which the richest people in the world pledge to donate half of their fortune either throughout their life or after their death. Gates, Buffett and around 200 others signed The Giving Pledge.
However, in 2020 Jeff Bezos made the biggest charitable donation of the year, donating $ 10 billion to start the Bezos Earth Fund, an organization that supports nonprofits fighting climate change. Bezos also donated $ 100 million to the Feeding America COVID-19 Response Fund.
Jeff Bezos’ debut as an entrepreneur
Having grown from its early days as a bookseller, Amazon offers a multitude of products and services to customers around the world, which has helped it become the fastest company to reach $ 100 billion in annual sales. – a feat achieved in 2015. Today, the company has a valuation of approximately $ 1.7 trillion and achieved a record fourth quarter revenue exceeding $ 125 billion in 2020.
Amazon launched an IPO in May 1997, but the man behind the online retail giant still retains a 10.3% stake in the company. In 2020, he cashed in $ 10 billion in Amazon shares and an additional $ 4.9 billion in May 2021, possibly to help fund other businesses he says will become his focus.
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In 2013, Bezos became one of the biggest players in the news industry after buying the Washington Post for $ 250 million.
In March 2017, Bezos bought Dubai-based online retailer Souq.com for $ 580 million, CNBC reported. This gave him the opportunity to expand Amazon to the Middle East.
In 2017, Bezos also bought the Whole Foods grocery store for $ 13.7 billion, which allowed Amazon to revitalize its food delivery service, Amazon Fresh.
The billionaire entrepreneur also founded rocket company Blue Origin, which develops reusable rockets to transport passengers to and from space. On July 20, 2021, Bezos is scheduled to fly into space as part of the first crewed flight of the New Shepard, the rocket made by Blue Origin. Brother Mark Bezos must join him.
Jeff Bezos’ real estate businesses
In 2016, Bezos spent $ 23 million to purchase the former 27,000 square foot Textile Museum in Kalorama, an upscale neighborhood in Washington, DC. The property consists of two historic mansions listed in the National Register of Historic Places. Despite the major investment, Bezos’ primary residence remains in Washington State.
Located in the Seattle suburb of Medina, Bezos’ main house is a 29,000 square foot resort not far from Amazon headquarters. Originally a 13,000-square-foot home, Bezos’ 5.35-acre waterfront property underwent a $ 28 million renovation to turn it into a sprawling oasis, according to Forbes.
In February 2020, Bezos bought a nine-acre estate in Beverly Hills, Calif. For $ 165 million, a record sale for a private residence in Los Angeles County, the Hollywood Reporter reported.
According to the real estate website Inman, Bezos also owns a 30,000-acre ranch outside of West Horn, Texas, and a penthouse on Fifth Avenue in New York City.
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Jeff Bezos’ luxury toys
Immediately after getting rich, Bezos didn’t head straight to the car dealership. Although he owned around $ 10 billion in Amazon stock in 1999, Bezos was reported by CNBC to be still driving a Honda Accord. That said, Bezos isn’t always a wealthy person who lives like an average Joe.
In addition to his impressive real estate portfolio, Bezos owns private jets, including two Gulfstreams, for his personal travel needs. His limited liability company, Poplar Glen, paid $ 5.5 million for a hangar at Seattle’s Boeing Field to store its jets in 2015.
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Jami Farkas contributed to the writing of this article.
Last updated: July 8, 2021
This article originally appeared on GOBankingRates.com: Jeff Bezos has stepped down as CEO of Amazon. How much is the iconic billionaire worth?