Amazon is seen as one of the greatest things to ever happen to the world. For Americans, this e-commerce company seemed like a crazy idea at first. I should trust this internet based company with my money, and then hope they send me what I ordered without fail each time? It seemed crazy, but it worked and became quite a success. As an idea invented by Jeff Bezos, it seemed like it would never work. Yet it surpassed all expectations.
Founded in 1994, the idea that would eventually become Amazon.com came at a time when people knew that the internet could be a great tool if used right. Jeff Bezos felt that people would want to avoid the clutter of being at a store for at least some products. Thus, the idea of a place you could shop at online at home in your PJs made sense. Amazon grew from there, and began getting more and more popular by the day.
Today, Amazon makes billions. In 2015, revenue for Amazon was around $136 billion. They are making waves in the entertainment industry now, and it seems like Amazon will continue to get involved in various things as long as the money is there. Jeff Bezos is at the forefront of it all, sitting as the current CEO of Amazon.
Jeff Bezos Is Now The Richest Man Alive
Today, Jeff Bezos officially becomes the richest man in the world. It happened when a surge in Amazon stock hit early Thursday. This also coupled with a dip in Microsoft shares. This allowed him to pass Bill Gates for the official spot at the top.
Shares for Amazon rose 1.8% to $1,071.31 around 9:30 a.m. in New York. This gave Jeff Bezos, who owns 17% of the company today, a net worth of more than $90 billion. This is why he was able to pass Bill Gates, who now sits at $89 billion. He’s probably not sulking however.
Obviously, this is huge news for Bezos and proves that the world will continue to make tech innovators the richest people on the planet. According to Bloomberg Billionaire Index, Gates had held the spot as richest man since May 2013.
X-Box And Whole Foods
We all know about Microsoft when it comes to technology. The fall is when things really start to build, as multiple video games and computers will hit the market. Many with the prints of Microsoft all over them. X-Box has a new system coming out then, as well as exclusive console games that intrigue many. With this new system adapting to 4K televisions better, the system will be liked by gamers and more games will come in.
This will increase stock in Microsoft, thus improving Gates’ overall net worth. However, Amazon will be acquiring Whole Foods for somewhere in the neighborhood of $14 billion. This will be their attempt to directly compete with Wal-Mart.
This very well could work out very well for Jeff Bezos and Amazon, and it would be tough for anyone to actually compete with that. There are far more Wal-Mart establishments in the United States than Whole Foods stores. However, if Whole Foods were to open new Super Centers that have better pricing than Wal-Mart, it could only be good for consumers.
Wal-Mart does not have any real competition, at least when it comes to retail on food and other perishables. Whole Foods could be that, and then prices could drop. This could create a better climate for the consumer, all while of course making money for Mr. Bezos. Jeff has on on the hook it seems. It is likely that shares would double to $2,000 when Whole Foods is officially acquired.
On Thursday, we saw that Amazon reached the $500 billion value mark. This gets them half-way to the trillion spot, which would put them in huge status. In fact, trillionaire is such a rare word that grammar does not even recognize it as real! They are not alone in their search to get to this spot.
Amazon currently sits behind Microsoft, Google, and Apple. That is in order from third to first. Being among the fourth spot in richest companies is not a bad place to be, especially for Jeff Bezos who only gets richer by the minute.
It seems Amazon is hot on the stock market this year, and for good reason. They continue to steal business from various retailers due to their efficient online format. This has allowed them to basically become THE place to shop. Shares for Amazon have gained 40% this year, adding $24 billion to the net worth of Jeff Bezos. The fast growing Amazon seems like the place to be for sure. However, stock falls all the time with quarters changing in money earned consistently.
It Could Not Have Happened To A Nicer Guy
Jeff Bezos has been very helpful to the world every step of the way as his money has risen. What people enjoy about him is how philanthropic he happens to be. He has donated millions to charitable causes, and it seems like karma has come back in a big way.
Jeff has been donating to charities and helping many out for years now, even actually participating in actions to help. This is nothing new, but that is also why his work is so notable. Sometimes, people do this to look good in the public eye. However, it seems Bezos goes above and beyond. Truly, Amazon could not ask for a better Founder and CEO.
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