When a person stays at the top of the fortune list for Americans as long as Bill Gates did it (1994-2017), you sort of give them life status without a second thought. For the longest time, the question was if Warren Buffet was not going to surpass Gates, who would. Enter in Jeff Bezos. Not only has Bezos surpassed Gates as the Richest man in America, but with a net worth of $160 billion, Bezos is not the richest man on the planet. What is impressive is that Bezos literally doubled his net worth in the past year.
This massive surge in his net worth is due to a corresponding 104 percent surge in the price of Amazon stock. Amazon is not only the most powerful and profitable e-commerce company in the world, but it has also surpassed Walmart as the world largest retailer. In the first six months of 2018 alone, the company recording $100 billion in sales.
Net Worth $160 billion Name Jeffrey Preston Bezos Age 56 Born Albuquerque, New Mexico Birth Date January 12, 1964 Source of Wealth American Businessman, Media Proprietor, and Investor Country United States
To understand how Bezos build such as massive fortune, let’s go back to how it all started. Bezos was highly aggressive in the tracking and pacing of his company’s growth. He founded Amazon in 1994 and he took the company public just three years later. One year after going public, he debuted on the Forbes fortune 400 with a net worth of $1.6 billion, making him the 102nd richest man in America. The next 20 years have been a blur as he has worked feverishly to expand the reach and scale of Amazon.
In 2010, Bezos made in debut into the top 10 with an amassed fortune of $47 billion and seven years later, he took over the top spot from the longtime incumbent, Bill Gates. That first visit to the top spot did not last as long as he would have liked. Unfortunately, Amazon missed fourth-quarter expected earnings and stock prices dropped — knocking Bezos out of the top spot. But the mogul was far from finished. It was just three months later at the end of the next quarter that Amazon came charging back strong with a 13 percent surge and Bezos net worth jumped a whopping $10 billion, a clean $3.1 billion richer than Gates. Bezos has not relinquished the spot since.
Bezos is not known for being conservative, he has played very aggressively, but that does not mean that he has played foolishly. He is very calculative with his movements and the manner in which he enters new markets. The manner in which he built out his brand has literally provided him with carte Blanche when he decides to invade new markets. There is literally nothing off limits to the juggernaut at this point.
Not only does Amazon has an exceptional business model, but the manner in which Bezos values and respects his employees also works toward ensuring that the company is providing its customers with memorable experiences and great products.
Additionally, Amazon is also a platform in which business owners can make money of their own. Selling everything from books to kitchenware and beyond, Amazon has given a new meaning to the concept of a one-stop shop. While there have been other companies who have attempted to model the success of Amazon, no one has come close. eBay has found its niche, but it is no match for Amazon. Walmart seems to have waited too late to take the online market seriously, but it has established itself as the closest major player to challenging Amazon’s throne. As the global economy continues to facilitate e-commerce opportunities for startups, it is likely that we will see more small businesses entering the market.
Amazon and Walmart may be the last two juggernauts and the climate changes. This does not mean that there is not an opportunity to grow massively in this arena. In fact, the potential for exponential growth in infinite. It is not about capacity as much as it is about genius. The next major money player will possess the genius and courage to move against the grain in the same way as Gates, Jobs, and Bezos. The question is, “who will it be and how long will it take?” At this point, there is no one threatening Bezos for the top money spot, not for the time being. Can he go a whopping 14 years like Gates, or will the next super mind unseat him sooner?