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The list of the world’s billionaires is incomplete without Jeff Bezos, born Jeffrey Preston Jorgensen. Jeff has founded and invested in various businesses and companies like his fellow billionaires and has several assets. However, how much is his net worth? Please read on to get the answer to this and more.
What is Jeff Bezos Net Worth?
Jeff Bezos is one of the wealthiest people in the world. The philanthropist has a net worth of over $110 Billion as of 2023.
How Did Jeff Bezos Earn His Net Worth?
What does it take for one to make it to the global billionaire’s list? Does one inherit the fortunes, or should one work for their wealth? Interestingly, Jeff is a self-made billionaire. He started with jobs in the technology industry when he was out of college. Bezos made his net worth in the following ways;
Are you a fan of Amazon? How often do you buy from the platform? If you are a regular buyer, you may already know the founder of this e-commerce shopping platform, Jeff Bezos. Interestingly, he founded Amazon in 1994, with his original business set up in his garage.
How did the Amazon idea come up? Jeff had initially shared an idea of an online bookstore with David E. Shaw, his former boss. Unfortunately, the boss didn’t seem too pleased with it. Jeff would later leave his job in finance and launch an online platform for selling books.
His net worth had topped $12 billion by the time Amazon went public in 1998. Years later, the site is a one-stop shop for various products, from electronics and consumer goods to digital media. Moreover, it may overtake Walmart as the leading global retailer in the coming years.
By 2019, Jeff owned up to 16% of the platform. However, after his recent high-profile divorce, he transferred 4% to his former wife, MacKenzie. Therefore, Jeff’s net worth could be higher if the two were still together, at $250 billion.
Notably, the COVID-19 pandemic led to increased demand for online shopping, thus the success of Amazon. Later on July 5th, 2021, after the surge in wealth during this pandemic era, Jeff stepped down from being the CEO of Amazon to becoming its Executive chair.
Amazon Web Services marked another huge growth. According to analysts, the company can bring up to $3 trillion. Besides, Amazon has made significant acquisitions over the years. The continued success of Amazon is the primary source of Bezos fortune.
Amazon has been one of many successful projects for Bezos. He has ventured into other businesses. He owns an aerospace company, Blue Origin, which he founded in 2000 and is valued at $9.15 billion. Interestingly, Jeff, his brother, a Dutch student, and an aviation pioneer were on the crew in Blue Origin’s first successful flight on July 20th, 2021. It is, therefore, not a surprise that Bezos other endeavors comprise this space exploration company. At one point, he promised to use his financial lottery winnings from Amazon to fund this company.
Nonetheless, The Washington Post is his other asset. Bezos bought this legacy newspaper in 2013, which is worth $250 million. The newspaper’s readership has dramatically increased since his acquisition.
Typically, billionaires invest their wealth in other startups. Jeff Bezos isn’t left behind, either. He has invested in businesses personally, as in 1998 when he made a $1 billion investment in Google. On the other hand, he invests in other companies, such as Bezos Expeditions, his venture capital firm. The startups in which he has invested his wealth include Grail, a blood-testing biotech firm. His other investments include Stack Overflow, a software developer website. He was previously invested in Business Insider, which Axel Springer acquired in 2015.
How Does Jeff Bezos Spend His Money?
Jeff Bezos wealth is so massive. Other than funding his personal life, he spends his money in the following ways;
Jeff owns at least five homes. One of his estates is located in Medina, Washington, near the headquarters of Amazon in Seattle. Other than this haven, Bezos bought a mansion in Beverly Hills, California, in 2007. The property is worth $24.25 million. He has another property worth $300 million in Beverly Hills.
In 2016, the billionaire bought a townhouse in Washington, DC. He also has several condos in Manhattan. He reportedly bought three adjacent apartments in Manhattan for about $80 million in June 2019.
Cars and Private Jet
When not in space with his space exploration company, Jeff enjoys traveling across the globe with his girlfriend, Lauren Sanchez. Speaking of traveling the world, Bezos has had some fantastic rides.
For instance, in 2013, he had the 1997 Honda Accord. His collection comprises luxury and vintage cars valued at over $20 million. They include Bugatti Veyron Masonry, Ferrari Pininfarina Sergio, Lamborghini Veneno Roadster, Cadillac Escalade, Mercedes-Benz S450, and Lykan HyperSport, among others. We can’t forget his Gulfstream G650ER private jet worth $65 million.
Bezos also spends his money on donations. He has had a share in some previous philanthropy projects. In 2022, he donated over $400 million to non-profit organizations. Also, in 10 years, Bezos had committed up to $10 billion to his organization, Bezos Earth Fund, which supports environmental non-profits. Nonetheless, he pledged $2 billion to the Bezos Day One Fund, another non-profit organization.
Furthermore, the recipients of his three $100 million awards, Dolly Parton, Van Jones, and Jose Andres, can donate the funds to their preferred charities. His other donations included $100 million to the Barack Obama Foundation in 2021.
In one interview back in November 2022, Jeff shared his plans to donate a greater percentage of his wealth. As much as the exact details about this are still unknown, he is philanthropic.
Jeff Bezos is a billionaire and philanthropist. He has worked for his fortune, whose primary source is the shares from his platform, Amazon. Also, he is involved in other business ventures and investments. His net worth as of 2023 is above $110 billion. On the other hand, he spends the money he earns on facilitating his lifestyle, real estate, his rides, private jet, and charity.