Amazon CEO Jeff Bezos: “The Richest Person in the World 2018”

The Amazon founder and CEO Jeff Bezos’s net worth as per the Bloomberg Billionaire’s Index has, amazingly, reached to $109 billion and made him the “Richest Person” in the world. Jeff Bezos’s net worth crossed $ 4 billion, exceeding Bill Gates’s $105 Billion. Jeff Bezo’s net worth has set a benchmark for the largest fortune in modern history. By the 1st of January 2018, Jeff Bezo’s net worth was $99 billion and crossed $105 billion within a week making Jeff Bezos richer than Microsoft founder Bill Gates.

Amazon CEO Jeff Bezos: “The Richest Person in the World 2018”

Amazon CEO Jeff Bezos: “The Richest Person in the World 2018”

 ‘Forbes Magazine’ confirmed Jeff Bezos made $10 billion within two weeks since the beginning of the New Year i.e.2018.

The measured wealth of Jeff Bezos’s is based on his possession of Amazon stock. The mind-blowing fact is Amazon shares have escalated sharply in 2018, adding $1 billion per day to Bezos’s net worth. Subsequently, Amazon stock rose by more than 2%, topping $1,305 per share. That’s up again to $1,170 during the first weeks of 2018.Having seen the Amazon’s progress that it made within a short stint, Bloomberg estimated that Bezos’s net worth was the equivalent to 0.577% of GDP for the entire United States. As per the Bloomberg Billionaires Index; Amazon’s worth is 1.8 million times higher than the median household income in the U.S!!!

Amazon is now worth $600 billion to say this in simple terms.

Jeff Bezos founded “Amazon” in 1994 and started his business voyage out of his garage. He began his business venture as an online bookstore and stood steadfastly in the advent of digital age but didn’t make any profit for its first 20 years.

What made Jeff Bezos so rich? What is his business secret?

Just in one word – Jeff Bezos says, “Frugality” (Spending Money Carefully) stays as a core leadership principle at Amazon. In an interview with Bloomberg interview Jeff said, “During the beginning days of my business, I was driving the packages to the post office myself in my 1987 Chevy Blazer and dreaming one day that we might have a forklift.”

His secret of success is “Cost-Cutting.” His modesty made him to the point where he is today. He stayed away from ‘Showy’ personalities in the business elite. “Jeff Bezos” always used an economy car and disliked to use any luxury model cars,” Amazon employees added.

Amazon Company’s website tells its employees: “Accomplish more with less. Constraints breed resourcefulness, self-sufficiency, and invention. There are no extra points for growing headcount, budget size, or fixed expense.”

Financial Analysts in their findings mentioned as to how Jeff made himself the richest man in the world was, ‘Cutting unnecessary employee expenses thus by leading price drops and savings for customers.’ “We try not to spend money on things that our customers don’t value. That’s been a key part of our DNA. That includes flight upgrades to business or first class when Amazon employees are traveling for work. Amazon will only pay for an economy ticket – if an employee wants to upgrade, it has to come out of his/her own pocket”, Amazon Web Services CEO Andy Jassy said in a press meet.

Bezos, though being stamped as a ‘Frontier-Frugal’ in some areas, never stopped himself to be a notable ‘Philanthropist’ in other areas.

Bezos, along with his wife, MacKenzie, donated $15 million to ‘Princeton University’ in 2011. Jeff also has given millions of dollars to the Fred Hutchinson Cancer Research Center in Seattle.

Jeff also runs two other businesses. Both are non-profit business entities, and these are being run as a part of his ‘Social Responsibility”. One is ‘The Washington Post’, the most popular nation’s journalism house; and the other is Space Company ‘Blue Origin’ in which he invests $1 billion per annum with a motto to “Save this planet.”

List of the 10 Richest People in the World

Top 10 richest people 2018

  1. Jeff Bezos: CEO – Amazon.com.
  2. Bill Gates:  CEO – Microsoft     
  3. Amancio Ortega: CEO – Inditex fashion group, which includes Zara clothing stores.                                                     (Retail)
  4. Warren Buffett: CEO – Berkshire Hathaway (Also – Finance and investments)
  5. Mark Zuckerberg: Chairman and CEO of Facebook
  6. Carlos Slim Helu: Owns more than 200 companies in industries ranging from banking to retail to telecommunications.
  7. Larry Ellison: CEO of software company Oracle
  8. Michael Bloomberg: CEO Bloomberg L.P – information technology and Media Company,                                            philanthropist and politician
  9. Bernard Arnault:  Chairman and CEO of LVMH, which is the largest luxury goods company in the world.
  10. Charles Koch and David Koch (Partnership): Charles Koch is the CEO, chairman, and co-Executive Vice President  (Second – Largest Private Company in the US)

 

 

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