“Amazon founder and CEO Jeff Bezos, the wealthiest person in the world, is richer than he has ever been before. Since June 1, the tech titan’s net worth has grown over $5 billion and now totals $141.9 billion, according to the Forbes World’s Billionaires list,” Zameena Mejia reports for CNBC. “That makes Bezos worth roughly $49 billion more than Bill Gates and about $60 billion more than Warren Buffett.”
“Earlier this year, Bezos officially became the richest person in the world and also helped make Amazon the second most valuable company in the world, behind Apple. And his success can arguably be traced back to a risk he took when he was 30 years old,” Mejia reports. “It was while serving as a vice president at the hedge fund D. E. Shaw in the 1990s that Bezos came up with the idea to sell books over the Internet. Doing so, though, would mean taking a significant risk and perhaps sacrificing his stable job.”
“At the 2017 Summit LA conference, Bezos recalled that, when he told his boss about his Internet bookstore idea, his boss said, ‘I think this is a good idea, but I think this would be an even better idea for somebody that didn’t already have a good job,'” Mejia reports. “That’s when Bezos considered what his 80-year-old self would say if he didn’t seize this opportunity.”
Read more in the full article here.
MacDailyNews Take: Jobsian.
Your work is going to fill a large part of your life, and the only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. If you haven’t found it yet, keep looking. Don’t settle. As with all matters of the heart, you’ll know when you find it. — Steve Jobs
Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition. — Steve Jobs
Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose. You are already naked. There is no reason not to follow your heart. — Steve Jobs
Follow you dreams. Not bad for a guy whose company only makes a modest profit from when for years it was in the red.
Amazon’s balance sheet was never in trouble. All that red you saw was a strategic decision to put all proceeds (after executives take their cut of course) into growth rather than wasting the money on short term Wall Street trader payouts . Bezos played the long game and continues to win. The result is a company that pays no taxes, has the luxury to shop around for free corporate real estate, garners unending positive reviews for its cheap shopping, logistics, web services, and media distribution, etc, and has such high consumer loyalty that it can upset any market it chooses to enter. Oh, and like the rest of the Fortune 500, Apple can’t operate without AWS now either so Amazon’s future is as secure as anyone.
This is how the new economy is played. Compared to Amazon, Apple does look old and tired.
Man, I love that second quote. There simply isn’t a day that goes by where I don’t wish Steve was still around. What a generational thinker he was…
And if Amazon continues to grow for 10 more years like it has for the last 20, the stock might actually be worth what it costs today.
No, he isn’t.
Yay! All right! High Five! Bezos is the richest person in the world!
Oh wait….
I don’t give a shit!
That was me trying to fit in…
I corrected myself.
I think Trump’s boss, Vlad, unofficially has more rubles than Jeffy.
Vlad isn’t stupid enough to put the rubles in his own bank account. The entire Russian treasury is his piggy bank, the way Trump wishes it could be. Someone forgot to inform Donny how the system works before he swore the oath with his fat fingers crossed behind his back.