All language subtitles for Tech Billionaires Jeff Bezos.eng

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What do we think of

when we hear the
word Amazon today?

Along with Google, Apple,
Microsoft, and Facebook

Amazon is one of the
big five companies

in the U.S tech industry.

It has become one of the
most influential companies

in the world, as well as
the most valuable brand.

In 2018 it surpassed 100
million subscribers worldwide.

So what did it take to build
such a revolutionary business?

Well, it took someone
like Jeff Bezos.

The American audacious
entrepreneur.

One of the world's
richest business leaders,

and founder of the
giant tech company,

and the world's
largest marketplace.

As of February, 2021
he was reported to be

the second richest
person in the world.

With an estimated worth of
$185 billion after Elon Musk.

What makes a smart business?

Start with the customer
and work backwards?

Are Bezos' words.

Today, the impact on
online retail is greater

than it's ever been before.

Take a journey into how
Bezos built the giant

that has changed the world.

And shapes our culture
and society today.

They are masterminds, ambitious,
competitive, and ruthless.

Not afraid of failure.

Dedicated to their mission
of bettering the world.

Always reaching for excellence.

They lead by example.

Unlike many industries
the tech billionaires

are mostly self-made.

It is through their genius

that they revolutionize
the industry.

And together they
change the world.

Join us in this series.

As we take a look at some of
the wealthiest entrepreneurs

in the modern world.

The tech billionaires,
Bill Gates, Elon Musk,

Mark Zuckerberg and Jeff Bezos.

Together they're
worth a collective

of more than 900
billion U.S dollars.

They will be
remembered in history

as the most influential
people of the 21st century.

Jeffrey Preston Jorgensen was
born on January 12th, 1964

in Albuquerque, New Mexico.

To a teenage mother Jacqueline

and his biological
father, Ted Jorgensen.

When he was born his
mother was just 17

and still in high school.

His 18 year old father
didn't have much money

and had alcohol issues.

The Jorgensens were
married less than a year

before Jacqueline left, taking
their infant son with her.

When Bezos was four years old

his mother remarried
Miguel Bezos.

A Cuban refugee who had
fled an oppressive regime

and who didn't speak
a word of English

when he first arrived
a few months back.

But with a strong work ethic
and determination in life.

He worked his way to
University of Albuquerque

to obtain a degree in
mechanical engineering.

Which led him to get a
job later on at Exxon,

as an engineer.

Miguel decided to adopt
Jeff after the wedding

and took the responsibility
to raise him.

His surname was then
changed to Bezos.

The family then moved
to Houston, Texas,

where Jeff spent most
of his childhood.

Much of Jeff Bezos
drive and ambition

likely came from his new father.

He's been a constant
inspiration for him.

Jeff was a gifted child.

It had been said that at
the age of only three,

tired of sleeping in a
crib, he found a screwdriver

and took the crib apart.

He then moved to Miami with
his family as a teenager.

Where he attended
Palmetto high school.

He was a brilliant
student, got straight A's

and was valedictorian
of his class.

Bezos showed early signs
of technical proficiencies.

He quickly developed a
passion for computers

and excelled at creating
software programs.

As an avid young innovator,

he turned his parents'
garage into a laboratory

and experimented around
his house as a child.

Young Jeff was always
inventing something.

Once he invented a solar
microwave and even a door buzzer

to keep his siblings
out of his room.

It was during high
school that he started

his first business,
The dream Institute.

An educational summer camp
that promoted creative thinking

for young students.

After graduating with
honors from high school

he briefly turned to physics.

Before committing to
his love for computers.

And he graduated from
Princeton University in 1986

with a high distinction in
electrical and computer science.

Bezos childhood may
have contributed

to his obsession with success.

And maybe it helped him
create that drive and ambition

and a relentless need
to prove himself.

Being adopted is something
that Bezos shares

with two other great
internet entrepreneurs.

Steve Jobs, and Larry Ellison.

After his graduation
at Princeton

he took on various jobs
that helped him develop

his entrepreneurial
spirit even more.

At 28 Bezos was working
for the investment firm

D.E Shaw in Wall Street,
Manhattan as a computer specialist.

He soon became the firm's
youngest senior vice president.

There he met novelist
McKenzie Tuttle

who was a research
associate at the firm.

She soon became his wife as the
couple married a year later.

They would have four children.

Three sons and a daughter
they adopted from China.

During the rise of the
internet in the 1990s

Bezos noticed that it was
growing at an incredible rate.

More than 2300% a year.

And he saw its
enormous potential.

He had never seen anything
that grew that fast.

This sparked his imagination

and he embarked on the
entrepreneurial path.

His first steps were
to research the top 20

mail order companies
at the time.

Observing that
something was missing,

he saw an opportunity
on the horizon.

He decided that an online
company could offer

this missing service.

And what was the first best
product to sell online?

Books?

Indeed, there were no book
mail order companies yet.

In 1994, having had always
been an avid reader.

Bezos decided to establish
an online bookstore.

Against his parents and even
as boss's advice to reconsider,

he left his job at D.E Shaw
to start his own company at 30

and decided to leave New York.

At this time, Bill Gates was
already dominating the world

of personal computers
with Microsoft,

from his hometown of Seattle.

Bezos decided to move
there with his wife.

Seems there was plenty
of tech talent around.

He saw it as a place of
opportunity and new beginnings.

He was aware that most
startups don't work,

and wasn't confident and
sure of what would happen.

People were saying
that the company

would never be profitable.

but Bezos decided to
take the leap anyway.

His parents also ended up
to support his decision

and invested what they'd
saved for retirement

in their sons venture.

It was later amply rewarded.

After writing his business plan
on a cross country road trip

from New York City to Seattle,

Bezos and his wife settled into
their new home in Bellevue.

And their new home
became his office.

He began developing the
software for the site

in his garage with a
handful of employees.

There was not much
investment in the beginning

and Bezos would
drive the packages

to the post office himself.

He even had his desk made
from doors to save money.

This was one of his main
principles, frugality.

We try not to spend
money on things

that don't matter to customers.

On July 6th 1995, a few
months later after moving

the startup sold its first book

and Bezos new business
was launched, Amazon.

Named after the South American
biggest river in the world.

And it started in a garage.

With financial and moral
support from family and friends.

They started
shipping more books.

Sales took off immediately.

By 1996 the company reached
$15.7 million in sales.

Within the first few days I
knew this was going to be huge.

Bezos told Time Magazine.

It was obvious that we were
onto something much bigger

than we'd ever dared to hope.

In 1997, three years
after it was founded

Amazon went public with
an IPO of $18 per share.

After raising $54 million,
Bezos became a millionaire.

At the end of trading
day on February, 2020

shares closed at more
than $2,000 each.

Making such an
investment at his IPO

worth more than 12 million
pounds as of May, 2020.

In other words, if you invested
in Amazon in its early days

you too would have been
a millionaire today.

He had warned many
early investors

that there was a 70% chance
that Amazon would fail,

or go bankrupt.

But the employees
worked hard and Bezos,

even harder to drive them.

The company grew fast into
a large worldwide business.

Bezos later claimed Amazon is
the earth's biggest bookstore.

Although Amazon was
originally an online bookstore

Bezos had always planned to
expand to other products.

In 1998, it started
selling music and videos.

One day he emailed randomly
1000 selected customers

to see what else
they would wanna buy

from the online retailer.

Unsurprisingly, the list
came back incredibly long.

The now self-made billionaire
recalled one person

writing back windshield
wiper blades,

because I really need
windshield wiper blades.

He then realized he could
sell anything this way.

Thanks to an email to
1000 random people.

Amazon turned into the everything
store the following year.

It also began selling a
variety of other goods,

including consumer electronics,
home improvement items,

software games, and toys.

In other words,
anything and everything

that customers
might need and want.

He understood consumer
behavior and noticed

that people were very
convenience motivated.

In 1999 Bezos became
a billionaire at 35.

At the height of his career,
time magazine named him

it's person of
the year for 1999.

Proclaiming him king
of cyber commerce.

The success of Amazon
encouraged other retailers,

including major book chains
to establish online stores.

He set the trend for the future.

Nowadays, if you don't
have a business online

you don't have a business.

By the end of 1999,
Amazon had become

a multi-billion
dollar corporation.

After expanding and setting
up operations in Europe.

With less than
three weeks until Christmas.

Most of us will be braving
the crowds in the coming days

in the search for presents.

But Christmas shopping doesn't
have to be so traumatic.

This year more people than
ever will buy their gifts

without moving from the seats.

But how easy is
internet shopping?

I tested the system
by ordering a book

from the online
bookseller Amazon.

Within minutes of placing
my order at my desk.

It's been printed out at
Amazon's warehouse in Berkshire.

A packer then finds the book
from the company's stock room.

And just a few hours
after the order is placed

the book is dispatched
and on its way.

The next day it arrived
here at the office.

This is really an
educational process.

This is something new
it's revolutionary.

It's something that
people are not used to.

But the growth in the
market that we've identified

shows that they're
quickly learning.

And it's becoming
increasingly important.

As part of retailing

Growth of sales on the
internet are set to explode

in the next five years.

There's already a great
deal of price competition,

among conventional retailers.

This year, they'll be
looking over their shoulders

at that rivals of
the virtual realm.

However, with
success came adversity.

The company became involved
in several notable lawsuits,

filed by Barnes &
Noble and Walmart,

but none of the
problems compared

to the biggest challenge of all.

Making the company profitable.

In 2000 Bezos and the company
were put to the ultimate test.

The stock fell significantly.

Though spent millions
developing its software,

Amazon lost money every year
and a total of $2.8 billion,

and was operating on negative
cashflow since it was founded.

In January, 2001 to
deal with the crisis,

the company was forced
to take drastic measures.

It laid off 1300 workers

and had to close
distribution centers.

It nearly went bankrupt

But Bezos was unstoppable.

Through his and
his team's efforts.

Amazon rebounded from
financial instability.

The cutback worked.

Amazon turned his first ever
net profit later in 2001.

As sales grew 15%.

However, it was small
and barely counted.

It took Amazon more than
18 years to catch Walmart

in market cap, but only
two years to double it.

The company continued his
expansion efforts in 2002,

and it has been
profitable ever since.

It not only survive the 2000
crisis, but it flourished.

Bezos saw the big picture
and he defied the skeptics

proving that his unconventional

business model could succeed.

Liquid hydrogen.

Why are we using
liquid hydrogen?

This is not how

to ourselves, because
we wanna be able

to survive Lunar night.

It's what's used to lower
things off of the deck

under the surface of the moon.

This is an incredible vehicle,
and it's going to the moon.

Now we have mapped the
entire moon in great detail.

We can use that as preexisting
maps to tell the system,

it's a machine learning system,

to tell the system what
it should be looking for

in terms of craters
and other features.

And it navigates
relative to that.

It's time to go
back to the moon.

This time to stay

Conquering
the internet,

reinventing the book trade

and becoming one of
the world's richest men

would be enough for most.

But Bezos is now
shooting for the stars

with an even bigger
plan, colonizing space.

As if building an empire
on earth wasn't enough.

In September, 2000,
aside from Amazon,

Bezos founded Blue Origin.

The human space flight company

focused on commercial
space travel.

As a Star Trek fan he had
expressed for a long time

an interest in creating
the SciFi future

he'd fallen in love
with as a child.

When he was just
five he fell in love

with the idea of
space exploration.

As he watched Neil Armstrong

take a first step onto the moon.

Jesus claimed that the
primary goal of Blue Origin

is to preserve the
natural resources of earth

by making the human
species multiplanetary.

Excited to announce
that we have put together

a national team to
go back to the moon.

And this is the kind of
thing it's so ambitious.

It needs to be
done with partners.

This is the only way to
get back to the moon fast.

And this time we're
going back to the moon

and we're not going back
to the moon to visit.

We're going back to
the moon to stay.

And we want to have a civilization
of growth and dynamism

which means we need to
be able to expand out

into the solar system.

There are so many resources
there that we can continue

to do interesting things
and continue to use

large amounts of
energy and so on.

It's just, we probably can't
do that on this planet.

So my long-term prediction,

and this is gonna take
hundreds of years.

So don't worry, prematurely
earth will end up being zoned

residential and light industry.

And all the heavy industry
will be done in space.

In 2011,
their first test launch

wasn't a success.

The rocket crashed, but
it fueled their need

to make progress.

What we need is to
reuse the hardware

over and over and over again.

And it can't be fake usability

where you bring the vehicle
back and inspect everything.

X-ray everything,
disassemble everything

and then put it
all back together.

That's not real reusability.

You have to land
refuel and fly again.

Our ability to get
into earth's orbit

is kind of right on the
edge of what's possible

even when you do it in
an expendable fashion.

So when you add the extra
mass and systems landing gear

and so on required
for reusability

you're making your engineering
challenge even harder.

But it's worth it
and it's possible.

And that's what we
need to achieve.

So that's why I
started Blue Origin.

I think it's the most
important work I'm doing.

If I look over the
really long term.

Fortunately the second
test flight was a success.

The New Shepard, a
multi passenger rocket

reached space in
2015 and afterwards

successfully landed
back on earth.

Bezos is aiming to
make space travel safer

and more affordable.

In July, 2018, it was announced

that he had priced commercial
space flight tickets

around $300,000 per person.

Since 2016, he has been
investing $1 billion

per year from his Amazon
winnings into Blue Origin.

In an effort to support
his ambitious goals.

He has been compared
to Elon Musk.

As the billionaire
also prioritize rockets

among his business interests.

Their intergalactic rivalry

is fueling the
modern space race.

For Bezos, this is
a childhood dream.

If I'm 80 years old,
looking back on my life.

And the one thing I've
done is to make it

so that there's this gigantic
entrepreneurial explosion

in space for the next
generation, said, Bezos

I will be a happy, happy man.

But he had more terrestrial
innovations on his mind as well.

Doug we're very
proud to have you,

and you're a great
stars associated

with RKO Video Pictures.

We're very proud
to be with RKO.

Would you like to
meet your new stars?

I certainly would.

Of course you know this
fella here, Mickey Mouse.

Hello Mickey.

Say hello to Mr
Mickey.

Hello , hi.

In 2003, Jeff
Bezos named Walt Disney

as one of his heroes.

Although he was no
Mickey Mouse fan.

Instead he was
fascinated with how

the animation industry
pioneer came up

with the electronics
and animatronics

used in Disney World
in Orlando, Florida.

Bezos admired the way Disney
had a powerful vision.

And did everything
to build his dream.

He said the best thing
that always amazed me

was how powerful his vision was.

He knew exactly what
he wanted to build

and teamed up with a bunch
of really smart people

and built it.

Well, I think what
you're starting to see

is some real differentiation
between internet companies

that are trying to
build lasting companies.

And I've certainly consider
amazon.com, one of those.

And companies that were
trying to build stocks,

trying to ride the
momentum of the internet.

And so one of the things
that you see for example

is a lot of internet
companies now raising prices.

Realizing that the things
they were doing before

just weren't sustainable.

At Amazon we're actually
lowering prices.

We just reviewed our top 1000
best-selling electronics,

and actually decided our
prices were too high.

We're lowering those.

So we're actually
doing the opposite.

And I think you're gonna see

a lot of differentiation there.

Companies like amazon.com
working to build

important lasting companies,

not sort of flash in
the pan internet stock.

By 2005,
Amazon was offering

a vast range of products and
a diversified even further

in 2006 by introducing
Amazon Web Services.

A cloud computer service.

It eventually became the largest
such service in the world.

That same year it revealed
a revolutionary new program.

Amazon Prime, which
offered customers

to have the product delivered
to their door in two days

and later one day
for a yearly fee.

It has become the
most successful

membership program in history.

More than 150 million users
would sign up for free shipping.

In 2007, Amazon launched

a new groundbreaking
product the Kindle.

A digital book reader
with internet connection

that allowed them to
sell books online.

And enabled customers
to buy, download, read

and store a vast collection
of books on demand.

Accessible,
interactive, limitless.

Mr and Mrs Brown
first met Pennington

on a railway platform.

It's a
daunting new world

for the traditionalist
but child's play

for the download generation.

It's easier than
going into a library

and searching through.

I often have like
six or seven books

to take with me to school.

If I've got them all on here,
I just have to carry this.

But there's something more
personal about getting a book.

And you know, you can pass
them down to generations.

Whereas these you've just
got it all stored on there

and there's nothing
exciting about it.

No one in
the industry is suggesting

that the conventional
bookshop is dead.

And digitization would
be anathema to some.

Real convenient,
real easy to use.

You can change the font
size to suit your eye.

You can just flip
the pages through.

So folks are finding the product
itself really convenient.

And of course it's delivered
in a very convenient way.

The electronic market
is really booming.

We're seeing 600% growth year
on year on eBooks this year.

And that this is a frankly
stagnant book selling market.

So I think we're seeing
massive growth there.

We're seeing rapid
adoption of e-reading

as a way of consuming content.

The technology means
authors like Sophie Nichols

can circulate their work
without a publisher.

One of her eBooks
became a bestseller.

I've been able to put a
book together, get it edited.

And proof-read myself
put it out there,

literally with the
click of a few buttons.

It's so simple to do.

And start connecting
with readers.

So I'm connecting with
thousands of readers.

It's so exciting from a
revenue point of view.

There'll
be those who say

we'll never really catch on.

All the evidence points to
the fact that it already has.

After revolutionizing,
the way we buy books

he transformed the way
we read them as well.

The first major challenge
to the Kindle supremacy

was when Apple introduced
its iPad tablet.

But Bezos responded aggressively

cutting the price and
adding new features.

From 2002 to 2007 his net worth
quadrupled to $8.7 billion.

After the financial crisis of
2008, his net worth decreased.

But it Rose again in 2010.

In 2010, Amazon announced
that sales of Kindle books

had surpassed those
of hardcover books.

That same year, Amazon
moved into making

its own television
shows and movies,

with its Amazon
Studios division.

From 1995 to 2018 Amazon
net sales increased

from $510,000 to
almost $233 billion.

In early 2013 and originally
secret deal sent ripples

through the tech industry.

The CIA signed a huge
$600 million contract

with Amazon Web Services
for cloud computing.

This encouraged trust in Bezos.

If one of the world's
largest intelligence services

trusted Amazon then
others could trust it too.

In fact, it became one of
the most trusted brands

in the world.

It's easy to put up a
website, but it's hard

to make it really good.

And it's hard to make sure
that the stuff arrives

in good condition
on time as ordered.

So it's sort of the
reliability of the end to end

customer experience.

Well certainly it'll get
less fascinating and new

just you know, space shuttle
launches don't get covered

the same way they used to.

And so the eCommerce is new.

It is important.

And that's why people
are so interested in it.

But it will become an
important part of the economy.

And one of the new
things that's happening

is more and more people are
figuring out how to sell online.

And it's getting
easier and easier

for people to sell online.

Just yesterday, we announced
amazon.com auctions,

and basically that makes it
possible for millions of people

to sell their own stuff
online at amazon.com at comm

where there's lots of traffic.

In
October of that year,

it was recognized as the
largest online shopping retailer

in the world.

On August 5th of that
year, Bezos made headlines

when he announced his purchase
of the Washington Post.

For $250 million in cash.

He made the newspaper
digital and reinvented it

as a media company, which
resulted in the paper

becoming profitable
again in 2016,

for the first time
in many years.

Bezos wealth shot up in 2014

as he entered the top
10 in Forbes list.

From then on it hasn't
stopped to increase.

In 2015 Bezos biological
father Jorgensen died age 70.

Without ever meeting his son.

He had never wanted to meet him.

And his relationship with him
always remained estranged.

On November 24th, 2017.

He hit milestones when his net
worth surpassed $100 billion.

After a hit record
on Black Friday.

On March 6th 2018
Bezos officially seized

the number one spot on the list
of the world's billionaires.

He unseated Bill Gates worth
$90 billion at the time.

And officially became the
richest person on the planet.

When net worth rose
to $112 billion.

The biggest single
year gain ever.

And what could the richest man
in the world possibly want?

Apparently not a fancy car.

He still drives
his Honda Accord.

Claiming it's a
perfectly good car.

But how about a robot dog?

He made headlines that year
when he was seen going on a walk

with a dog named Spot Mini.

He's the richest
man in the world.

And he was raised
here in South Florida.

What more could Amazon CEO
Jeff Bezos possibly want?

Well, how about a
robotic dog to walk here?

Here he is in a picture
that he posted to Twitter

taking part in Boston
Dynamics Invite Only

Robotics Conference.

The dog is named Spot Mini.

And if it looks familiar, it
should because it went viral.

When it opened a door
by itself last month.

Yeah, we reported
on him before,

but the real dogs
are so much fun.

Yes,
Bezos is eccentric

and known for his weird habits.

Once he was spotted
eating a cooked cockroach.

The happy billionaire
is also known

for his distinctive laugh.

But back to Amazon
in 2016, Amazon alone

at sold on average of
more than 70 pounds worth

of goods to every man,
woman and child in Britain.

More than half of all
online retail sales.

The amount of traffic
is outstanding.

Well, this is good
news for Bezos.

It is less good for some others.

Small and independent
bookshops and retailers

have been closing
at an alarming rate.

Amazon's cheap prices have
increasingly made trading

impossible for such
small businesses.

Who can't compete
with the giant.

More and more wonder,
is Amazon good or bad?

It has been increasingly
seen as a destructive force,

and an industry killer.

Crushing, all competition,
sometimes unlawfully,

and it continues
to reign supreme.

Today, there's a war between
online and the high street.

Amazon has disrupted
almost every aspect

of our modern lives.

Today, it has got the upper hand

being the largest internet
company in revenue.

But founder Bezos claims
that his company is not

what has crushed book selling.

He claims the future is
happening to book selling.

Nearly 20% of all retail
sales are now made online.

And that's growing.

An online only sales tax
could be one way to end

the advantage internet shops
have over bricks and mortar.

There was a time
when sales of books

you could actually
get your hands on

we're on a slippery slope.

It was all about the ebook,
but this year the number

of physical copies being
sold has actually risen.

And food writer and
fiction author Prue Leith

isn't at all surprised.

When you talk to
people who read books,

what they love is not just
the story in the book.

It's the feel of
the book isn't it?

It's not of course in
a hard copy of a book.

You get the maps, the
pictures and everything else

but also even if
it's just a textbook

if it's a nicely printed
hardback, it's lovely.

And I'm not surprised people
have gone back to them.

It's a
big day for bookstores

like this one in
Chipping Norton.

Super Thursday sees
around 400 hard backs

hitting the shelves, ready to
be wrapped up for Christmas.

They stopped selling E readers
due to a lack of interest

but many of their customers
can see the appeal of both.

Personally I can't see
an end to a physical book

because I think there are
a piece of art as well.

It's great to have in your
home in your bookshelf.

Always prefer
the physical book.

Like going on holiday when
you've got weight restrictions.

ePrinting will obviously
increase and it's bound to.

But I don't think books
will ever go away.

It may be that
those who want an e-reader

already have one and don't
feel the need to upgrade.

The question is whether
they'll replace them.

When they finally
give up the ghost.

Jet big, fast was Bezos mantra

that he developed to
push Amazon forward.

And big, fast it got,

In fact critic's say that Amazon

much like Google and Facebook

has grown too large and
powerful to be trusted.

Because of its enormous
scale it became increasingly

on the radar of
politicians and regulators.

From how it operates its power

to even its impact
on the environment.

It is under scrutiny.

In March, 2018 Bezos was accused

by former us president Donald
Trump of sales tax avoidance.

Misusing postal routes and
anti-competitive practices.

Amazon share price fell by 9%,

in response to the
president's negative comments.

Bezos has earned a reputation

for his aggressive
business strategies

with little concern for public
charity and social welfare.

But for him, this
is what it takes

to have a successful business.

Bezos mysterious persona
have drawn controversy

and public attention.

In May, 2014, the International
Trade Union Confederation

named him the
world's worst boss.

Super villain in
the eyes of many.

He became a symbolically
dominant business figure

in modern society.

However, he continues
to look beyond it all,

and has grasped the idea

that not all big
companies are loved.

In April, 2018 another
scandal broke out.

The nonprofit group
New Food Economy

revealed that Amazon
was underpaying

and exploiting its employees.

They found that one third
of Amazon workers in Arizona

and one 10th of Amazon workers
in Pennsylvania and Ohio

relied on food stamps.

Criticisms continued
in September, 2018.

When Senator Bernie Sanders
also went after the retail giant

and attacked Amazon on the
way it treated its workers

and is not paying enough taxes.

Referring to Bezos
Blue Origin Company,

Bernie said, instead of
attempting to explore Mars

or go to the moon, how about
Jeff Bezos pays his workers

a living wage.

In response, Amazon pointed
to the 130,000 jobs it created

in 2017 and said the
calculation of its median salary

included part-time workers.

However, on October 2nd,
2018 Bezos announced

a company-wide wage increase,

which Sanders applauded.

It is clear that Bezos
has built an empire,

but at what cost.

Another reason for his
negative public image

is that the world's richest man

isn't well-known for
his philanthropy.

Despite giving millions
to support gay marriage

immigrant rights and
fighting homelessness.

He was often characterized
as being too cautious

with his wealth.

People noticed his relative
lack of philanthropy

compared to other
billionaires like Bill Gates.

Though he is the first
person in modern history

to accumulate a fortune
of over $100 billion.

His charitable history
remains a mystery.

And is known donations are
controversial as some doubt

his intentions and don't agree
with his business tactics.

In 2018 Business Insider
reported that Bezos

was the only one of the top
five billionaires in the world

who had not signed
the giving pledge.

An initiative
created my Bill Gates

and Warren buffet that
encourages wealthy people

to give away a majority
of their wealth.

To this day he still
hasn't signed it.

And it isn't completely
clear as why.

But after the scandals,
his image began to shift.

He began to spend his
money more freely.

On June 15th, 2017, he
posted a message on Twitter

asking for ideas
for philanthropy.

I'm thinking about a
philanthropy strategy

that is the opposite of
how I mostly spend my time

working on the longterm.

At the time of the post
Bezos lifetime spending

on charitable causes was
estimated to be $100 million.

Many responded by asking Bezos

to pay higher wages
to Amazon workers.

Bezos announced
in September, 2018

that he would commit
approximately $2 billion to fund

the Day One Fund to
support homeless families

and early childhood education
for low income communities,

In February, 2020 Bezos
pledged $10 billion

to protect the planet
and combat climate change

through the Bezos Earth Fund.

He also donated $100
million to food banks

through Feeding America
during the COVID 19 pandemic.

In January, 2019.

After 25 years of marriage,

he and his wife
McKinsey divorced.

The settlement was the largest
ever recorded at $35 billion.

She went on to sign the
giving pledge on her own.

So basis journey hasn't
been without challenges.

But he's still
managed to thrive.

In the first months of
2020, the global pandemic

shook the whole world's economy.

It is rare to see a
company doing well

during a pandemic

that has left millions
of people unemployed.

Though the tech industry has
been doing remarkably well.

Even during a time
of economic turmoil

Amazon grew with more
customers than ever before.

As people all over the
world sheltered at home

during the COVID-19 outbreak,

the online demand exploded

and Amazon doubled its
profits since 2019.

The company has expanded
rapidly to address the needs.

Pushing its workforce to
more than 1 million people.

While physical stores
continue to struggle.

On January 7th, 2021

with his wealth growing
at an unprecedented rate,

Tesla CEO, Elon
Musk overtook Bezos

as the world's richest person.

Seeing that he had done
all he could for Amazon

and that he brought it
to where it is today.

Bezos announced on
February 2nd, 2021,

that he would step down
as the CEO of Amazon,

sometime in late 2021

and transition into the
role of executive chairman.

He is due to be
replaced by Andy Jassy.

The chief of Amazon's
cloud computing division.

Bezos has told his employees
that this transition

would give him the
time and energy

to focus on the Day One Fund,

the Bezos Earth Fund, Blue
Origin, the Washington Post.

Bezos empire now
stretches far and wide.

Amazon bought Whole
Foods in 2017,

and also owns companies
like Zappos and Twitch.

He has also invested in
companies like Google, Twitter,

Uber among many others.

Jeff Bezos is brilliant,
but controversial.

However, he not been
afraid of failure,

and he encourages
people to be bold.

What didn't fail him was his
perseverance and patience.

The empire he built
wasn't made in one day.

It took Amazon 26 years
to get where it is today.

After investing in huge new
areas like Amazon Prime,

Amazon Web Services, and
most recently the Alexa

it's AI virtual assistant.

It continues to improve
and innovate constantly.

Jeff Bezos is an
eCommerce pioneer.

Money isn't what
drives him, but passion

and a need to make
the world better.

His successful business
ventures have made him

one of the richest
people in the world.

Amazon was developed on the
principle of customer obsession,

as opposed to
competitor obsession.

And with a focus growth
and long-term vision

over net income.

Today with over a million
employees all around the world,

Amazon also sells millions
of different products.

From toilet paper to groceries,
to electronics, fashion

and furniture.

Bezos declared, "I
took the less safe path

to follow my passion.

And I am proud of that choice."

By combining optimism,
motivation and grand visions.

He's become a legend
of the tech industry.

From a little boy experimenting
in his parents' garage

and son of a teen
mom to risk-taking

and visionary tech Titan.

He is the example
of modern society's

self-made billionaires.

He said that one of the
great gifts in his life

was his mother and father.

And how they had been
incredible role models for him.

He is proud of his mother
for all the sacrifices

she made for herself
and her family.

He thanked her in a tweet
on mother's day, 2017.

I won the lottery with my mom.

Thanks for literally
everything mom.

From him we learn that the
simplest ideas are worth trying.

As Bezos has shown you
can take a simple idea,

and turn it into
something bigger.

Amazon has defied the odds.

After an extraordinary growth

in size, influence and ambition.

The multi-billion dollar empire
revolutionized the industry.

Jeff Bezos success
journey is inspiring.

This is a story of a
young ambitious man

who forever changed the way
we buy just about everything.

Growing a tiny business
from his home garage

into the world's most successful
and influential company

in modern history.