What is Jeff Bezos' net worth?

According to Bloomberg, Jeff Bezos's net worth is around $162bn, making him the third richest person on the planet behind Bernard Arnault, and the richest person, Elon Musk.  

Jeff Bezos is an American entrepreneur and businessman who is widely known for founding the e-commerce giant Amazon. He is often cited as one of the most successful and wealthiest people in the world and for good reason. 

Jeff Bezos' immense wealth is largely due to his success with Amazon. He founded the company in 1994 as an online bookstore, but quickly expanded it to include a wide range of products. 

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

But how exactly did he make his money? In this article, we will explore Jeff Bezos' journey to success and the key factors that helped him achieve his incredible wealth.

Jeff Bezos net worth and Amazon.com 

Born in Albuquerque, New Mexico, in 1964, Bezos showed an aptitude for entrepreneurship from an early age. As a teenager, he started his own educational summer camps, teaching science and engineering to local children. He went on to study computer science and electrical engineering at Princeton University, where he graduated with honours.

After graduation, Bezos worked in a variety of jobs, including as a computer engineer for a telecommunications company and as a product manager at Bankers Trust. But it wasn't until he founded Amazon.com in 1994 that he truly hit his stride.

At the time, the internet was still in its infancy, and online shopping was virtually unheard of. Bezos saw an opportunity to capitalise on this new market and set out to create an online bookstore that would revolutionise the way people shopped for books.

Initially, the company was run out of his garage, with a handful of employees. But with savvy marketing and a commitment to customer service, Amazon quickly began to grow. Within a year, the company was selling books to customers around the world, and in 1997, it went public, making Bezos a billionaire overnight.

But he wasn't content to rest on his laurels. He continued to innovate and expand Amazon's offerings, adding music, movies and eventually just about everything else under the sun. Today, Amazon is the world's largest online retailer.

The factors contributing to Jeff Bezos' net worth 

In addition to his success with Amazon, Jeff Bezos has made a number of other investments and acquisitions that have contributed to his net worth. 

For example, he owns The Washington Post, one of the largest newspapers in the United States. He also has a significant stake in Blue Origin, a space exploration company that he founded in 2000.

So how did Bezos manage to build such an empire? There are a few key factors that helped him achieve his incredible success.

First and foremost, Bezos is a visionary. He saw the potential of the internet long before most people did and was willing to take risks to capitalise on this opportunity. He knew that the internet would change the way people shopped and was determined to be at the forefront of this revolution.

Secondly, Bezos is incredibly focused on customer service. With Amazon, he knew that if he could provide a better shopping experience than his competitors, customers would keep coming back. He famously kept an empty chair in meetings to represent the customer, ensuring that their needs were always at the forefront of his mind.

Finally, Bezos is willing to invest in the long-term success of a business. For Amazon, he was happy to forgo short-term profits to build a better, more sustainable business. This meant the company was able to weather economic downturns and emerge even stronger on the other side.

Amazon's critics and Jeff Bezos' lifestyle 

Of course, Bezos' success hasn't been without controversy. Critics have accused Amazon of unfair labour practices and anti-competitive behaviour. But there's no denying that Bezos has been incredibly successful in building a company that has revolutionised the way we shop and has made him incredibly wealthy in the process.

Despite his immense wealth, Bezos is known for his frugal lifestyle. He famously drives an old Honda Accord and reportedly eats his breakfast at the same diner every day. 

He is also known for his philanthropy. In 2018, he launched the Day One Fund, which aims to provide funding for homeless families and create a network of Montessori-inspired preschools in low-income communities.

While Bezos' net worth is certainly impressive, it is important to remember that wealth does not always equate to happiness or fulfilment. In fact, Bezos has spoken publicly about the importance of finding meaning and purpose in life, regardless of one's financial status. 

As he once said: "I strongly believe that missionaries make better products. They care more. For a missionary, it's not just about the business. There has to be a business, and the business has to make sense, but that's not why you do it. You do it because you have something meaningful that motivates you."