From Garage Startup To Tech Titan: This Man Once Lost Rs 1.27 Lakh Crore In A Day, Now Outranks Mukesh Ambani And Gautam Adani
Jeff Bezos, the mastermind behind Amazon, has experienced dramatic financial highs and lows. He once lost Rs 1.27 lakh crore in just 24 hours due to a sharp drop in Amazon’s stock. Despite this setback, Bezos has rebounded to surpass Mukesh Ambani and Gautam Adani in wealth. Discover how he navigated these challenges and where his net worth stands today.
A Humble Beginning
Jeff Bezos, born on January 12, 1964, in Albuquerque, New Mexico, came from modest beginnings. He was raised by a hardworking family, his adoptive father, Miguel Bezos, an Exxon executive played a key role in shaping his values of perseverance and ambition. Jeff’s journey from a humble childhood to one of the wealthiest individuals on the planet is a testament to relentless dedication.
A Major Setback for Billionaires
On a challenging Friday, billionaires worldwide faced significant losses, collectively dropping USD 134 billion in wealth. Bezos was among the hardest hit, losing USD 15.2 billion (Rs 1,27,320 crore) in a single day due to an 8.8 per cent drop in Amazon’s stock, marking one of the worst days for the company in years. Despite this, Bezos still holds a massive net worth of Rs 15,84,128 crore.
Early Life and Struggles
Education and Early Ventures
Bezos demonstrated a passion for technology from a young age, even building an automated alarm system as a child. He graduated from Princeton University with degrees in computer science and electrical engineering, then went on to work on Wall Street, gaining valuable insights into finance and business.
The Birth of Amazon
Innovation and Expansion
Under Bezos’ leadership, Amazon diversified into various sectors, including technology and logistics. Innovations like the Kindle, Amazon Web Services (AWS), and Prime subscription services helped Amazon become a dominant force in the market. Bezos prioritized long-term growth over short-term profits, setting Amazon apart.
Overcoming Challenges
Legacy and Philanthropy
In 2021, Bezos stepped down as CEO of Amazon, leaving behind a legacy of innovation. Outside of his business empire, he has contributed significantly to philanthropic causes, including the Bezos Earth Fund to combat climate change. His remarkable journey is one of vision, perseverance, and disruption in the retail and tech industries.