“If we can keep our competitors focused on us while we stay focused on the customer, ultimately we’ll turn out all right.”
– Jeff Bezos
Jeff Bezos is now the richest man in the world, with a fortune of $106bn.
The American technology entrepreneur and investor, and founder and CEO of amazon.com has seen his personal wealth soar by $6bn last year – putting him at the top of the world’s rich list.
Some may say, that was his vision of consumer needs that lead him this great business success.
Bezos’s story is an incredible journey. He was interested in science and technology from a young age and studied electrical engineering and computer science at Princeton University. After graduating in 1986, Bezos took a job on Wall Street in computer science.
Although he took on a few different employment opportunities which paid him well, he sought something different.
When Internet use took off, he recognized the opportunity this new digital world presented and quit his job to develop his own business idea.
Bezos created the business plan for Amazon while traveling from New York to Seattle. He was on a quest for the creation of new consumer experience, based on what the new technologies could give him.
He founded the company in Seattle in 1994, operating out of his garage. Amazon started out solely as a bookseller, but gradually diversified into offering more and more products and services, including music and video streaming and grocery delivery.
Bezos’s business endeavors are not limited to the digital world, however. The entrepreneur purchased The Washington Post newspaper in 2013 for $250 million.
Other business-savvy investments have helped to cement his financial success, including a $250,000 investment in Google in 1998, making him one of the company’s first investors.
His success in the business world has led to a great deal of recognition. He won Time magazine’s Person of the Year in 1999, just five years after establishing Amazon. As well as this, he has been awarded Businessperson of the Year in 2012 and received an honorary doctorate in Science and Technology from Carnegie Mellon University in 2008.
Jeff Bezos contributed to many societal changes through his creation of Amazon, raising the bar of consumer expectations. He combined his knowledge and skills with an innovative and determined mindset to amass huge personal wealth and change the way we shop forever.