expr:content='data:blog.isMobile ? "width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0" : "width=1100"' name='viewport'/> INVEST2MAKEWEALTH BLOG BY ROLLY CUSTODIO: December 2018

Wednesday, December 12, 2018

How Jeff Bezo became the 2018 Richest Man in the World

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12 Dec. 2018
How Jeff Bezo became the 2018 Richest Man in the World

Jeff Bezos started from Seattle Garage in Washington as Online Book Seller in 1994 with 22 Investors worth $50K but his owned investment was came from his parents retirement fund and his savings which controlled 20% and 1996 surpassed every online bookstores on Earth and became The Word's Largest Book Seller in 1996 and 1997 went on Public at $18/Share for $50M Initial paid up capital. 

In 1999, he entered in Music and Video Movie Industries by selling DVD videos and e-music and he undergone ups and downs on business especially year 2000 with almost Zero Profit but in 2001, he recovered gradually up to 2004, In 2005 he set up Amazon Prime that Partnered Resellers which gives some incentives to client for Free Shipping Costs and He started to recover and earned $4.10B overtaken Richard Branson (Virgin group) and Steve Jobs (CEO Apple). He also started 2006 Amazon Web Services or AWS Computing Company and 2007 Kindle E-Reader were invented by Amazon which books are stored and you can read books immediately in a second to retrieved and likewise started Amazon Fresh Food delivery services which he gained more customers.

 In 2009, He bought Zappo.com Shoes Retailers for $1.2B and 2013 bought Washington Post for $250M and Amazon stocks moved up from $18 in 1997 to $300/share in 2013. In 2014, Jeff Bezos reached $25.30 beaten Larry Page and Sergy Brin Owners of Google and became the 19th World's Riches Man. In June, 2017 Bought Whole Foods for $13.7B and the next month Jeff Bezos overtakes Bill Gates at least for a few hours because Bill Gate regain his momentum but on 27th Oct. 2018 Jeff Bezos his stocks soars and gained $10 B and reached $93 beating Bill Gates of only $90B as the World Richest Man and from that on Amazon pushed their stock uptrend and Bill Gates slides down to $89 B and Jeff Bezos continue to grow to reach $137 B as of Nov. 2018. 

One thing I like Jeff Bezo is his attitudes when he started Amazon he helps for packing the books and also delivered the books to Post Office. Sometimes, his IT Manager who also helps for packing heard him that his toes and back felt pain while he is doing packing his IT manager advise him to buy the table for packing the books because when they started they packed from the floor so when they used the table they double their packaging and that's where they started invented new things.

There was also a case also that the Giant Books Store Barneys wanted to enter online and had news that Barney will crush Amazon in Online Books Store business and that time Amazon has only 125 employees and has $60M revenues and Barney's Book Store has $3B Revenues and 30K Employees. So there was news that Barneys will crush Amazon but Jeff Bezo did not give in he gathered all his 125 employees and told them we don't afraid our giant competitors because they are not paying us we focus on our customers and we have obsessions to meet their needs. Amazon and Jeff Bezo succeeded because of Four Things;

1. Customer Focus and Obsessions.

2. Invent New Things.

3. Long Term Thinking

4. Operation Excellence.

that's four things make Jeff Bezo became Successful and Richest Man in the World. 

I believed to become Employee you will never get rich and increase your asset but to be Business Entrepreneur your income will be unlimited and as you become wiser and put more efforts and strategy in business your income will grow faster. These two characters must be Twin "Hard-work and Strategy" and not to be separated because if you only choose hard work only and don't use innovation and strategy you can not advance but if you only use strategy only and you don't use hard work or more efforts strategy will be hang and will not materialize unless you joined these two characters or traits of a successful businessman and if you use Hard work and strategy in the long run if you accumulate more wealth and master the concept or system of business there will come a time that you will retire early and not work at all because other people will perform in your behalf. As Warren Buffet says (3rd World Riches Man) " If you don't find a ways to make money while you sleep you will work until you die."
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