… from selling books online, Jeff sells $1.8 Billion worth of Amazon Stock.
World richest man and Amazon founder Jeff Bezos sold 968,148 shares worth $1.84 billion over the past three days; hours after the stock markets had closed. This is according to disclosures made in Securities and Exchange Commission filings.
The filing also show that the billionaire has given his ex-wife, MacKenzie, 25% of his Amazon stake worth nearly $36.8 billion, making her the third-richest woman in the world, behind Francoise Bettencourt Meyers of France and Alice Walton.
Chief Executive bezos remains the e-commerce and cloud giant’s largest shareholder, as he still owns 58.1 million Amazon shares, SEC filings show, which at current stock prices would be valued at about $107.9 billion.
The billionaire has sold large chunks of Amazon stock before, but this is to be the largest sale to date,In 2017 Bezos told reporters that he was selling $1 billion worth of Amazon stock every year to fund Blue Origin, his space exploration company.
Amazon.com,considered one of the Big Four technology companies along with Google, Apple, and Facebook is an American multinational technology that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence.
Also, it is the largest Internet company by revenue in the world,the second largest private employer in the United States and aswell one of the world’s most valuable companies.
Founded by Jeff Bezos on July 5, 1994, in Washington, The company initially started as an online marketplace for books but later expanded to sell electronics, software, video games, apparel, furniture, food, toys, and jewelry.
Amazon distributes downloads and streaming of video, music, audiobook through its Amazon Prime Video, Amazon Music, and Audible subsidiaries. Amazon also has a publishing arm, Amazon Publishing, a film and television studio, Amazon Studios, and a cloud computing subsidiary, Amazon Web Services. It produces consumer electronics including Kindle e-readers, Fire tablets, Fire TV, and Echo devices.
Worth more than $90 billion, according to Forbes, he took the top spot from Microsoft co-founder Bill Gates, oweing to recent jumps in the value of Amazon stock after an impressive quarterly financial report.
Jeff’s humble beginning
However, worthy of note is the fact that Bezos hasn’t always been the billionaire titan he is today, for a time in college, he thought he would be a theoretical physicist.
Jeff Bezos was born January 12, 1964, in New Mexico, to a 16year old mother, Jacklyn Gise Jorgensen, who remarried when Bezos was 4years old to Cuban immigrant Mike Bezos.
Entrepreneur and e-commerce pioneer Bezos had an early love of computers and studied computer science and electrical engineering at Princeton University
After graduation he worked on Wall Street, and in 1990 he became the youngest senior vice president at the investment firm D.E. Shaw. Four years later, he quit his lucrative job to open Amazon.com, an online bookstore that became one of the Internet’s biggest success stories.
Bezos pursued his interest in computers at Princeton University, where he graduated in 1986 with a degree in computer science and electrical engineering. After graduation, he found work at several firms on Wall Street, including Fitel, Bankers Trust and the investment firm D.E. Shaw.
While surfing the web in search of new ventures for D.E. Shaw, Bezos found a statistic that the World Wide Web was growing by 2,300 percent a month, the Billioniare immediately understood the potential prospects of selling products online.
Even though his career in finance was extremely lucrative, Bezos chose to make a risky move into the nascent world of e-commerce and quitted his job in 1994.
Shaw tried to convince Bezos to stay in his firm on a long walk in Central Park, Bezoz maintained that he would rather try and fail than never try at all.
The beginning of a lifetime journey: Amazon
This was the beginning of a lifetime journey for Bezos who set up the
office for his fledgling company in his garage where, along with a few employees,
began developing software. They expanded operations into a two-bedroom house,
equipped with three Sun Microstations, and eventually developed a test site.
As soon as Jeff Bezos managed to raise $1 million from his family and friends, he and MacKenzie also registered the domain names Awake.com, Browse.com, Bookmall.com, and Relentless.com
Eventually, Bezos decided on Amazon.com after looking through the words that start with A in the dictionary, he decided he liked the resonance between one of the planet’s longest rivers and largest bookstore.
After inviting 300 friends to beta test the site, amazon.com was opened, named after the meandering South American river, on July 16, 1995.
Consequently, the initial success of the company was meteoric, with no press promotion, Amazon.com sold books across the United States and in 45 foreign countries within 30 days. In fact, in two months, sales reached $20,000 a week, growing faster than the billionaire and his startup team had envisioned.
Amazon grows to include Music and Videos
After books, the next items Bezos added to Amazon were music and videos. Then, he asked customers to see what else they would want to buy from the online retailer.
“I sent an email message out to the customer base, actually a thousand randomly selected customers, and I said, besides books, music and video, what would you like to see us sell? And the list came back incredibly long,” he said.
“People are very convenience-motivated,” says the billionaire. “So that really started the kind of the expansion into all categories, consumer electronics, and then apparel, and so on.”
Amazon Today; Marketplace for almost EVERYTHING
Today, Amazon sells almost everything. From toilet paper to groceries to electronics to fashion to furniture.
Furthermore, Bezos made headlines worldwide in 2013, when he purchased The Washington Post and other publications affiliated with its parent company, The Washington Post Co., for $250 million.
More so, in 2007, the billionaire announced his investment in Blue Origin, a Seattle-based aerospace company that develops technologies to offer space travel to paying customers.
Also,In early December 2013, Bezos revealed a new, experimental initiative by Amazon, called “Amazon Prime Air,” using drones to provide delivery services to customers.
Now, a success story
Most interestingly, Jeff Bezos life story shows that he achieved all his success thanks to his strong desire to learn new technologies, hard work and, of course, a result to his distinctive leadership qualities.
“After much consideration, I took the less safe path to follow my passion, and I’m proud of that choice. “
Now, Amazon has grown from the hands of a boy with love for how things work to dominate commerce and become a formidable contender in cloud computing and artificial intelligence.Billionaire Vision Visionary Leonardo Del Vecchio Strikes $6 Billion Deal To Expand His Eyewear Empire