Amazon.com Inc. AMZN founder Jeff Bezos encouraged his brothers Brand and christina invest $10,000 each in the company in the mid-1990s. None of them knew at the time that this would make them billionaires one day.
What happened: In 1996, Bezos' brothers each bought 30,000 shares of Amazon for $10,000. However, Jeff had one condition: If Amazon failed and the investment was ruined, he still wanted to be invited to his brothers' houses for Thanksgiving, according to the book “The Everything Store: Jeff Bezos and the Age of “Amazon.”
Fortunately for Bezos and his brothers, Amazon flourished and made them all billionaires. That small $10,000 investment in 1996 is now worth $1.3 billion, assuming none of the Bezos brothers have sold shares so far.
This represents a staggering 13,025,889% gain.
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According to a analysis According to Bloomberg, Mark and Christina Bezos were worth an estimated $640 million each as of July 2018. Based on Amazon's current stock price and taking into account stock splits, bonus shares, and other corporate actions, the The Bezos brothers' stakes are now worth $1.3 billion.
Bezos' vision for Amazon, despite the limited use of the Internet in the mid-1990s, led to the founding of the company in July 1994. He managed to convince his family, despite the high risk, to invest in his venture. .
The company went public on May 15, 1997, at $18 per share, and under Bezos' leadership, has grown to a market capitalization of $1.86 trillion.
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Mark and Christina Bezos have kept low public profiles. Mark pursued a successful career in advertising and philanthropy, while Christina focused on family and philanthropy.
This investment by the Bezos brothers is a testament to the potential of visionary entrepreneurship and the digital economy. It also highlights the impact of strategic risk-taking in the rapidly evolving world of technology and commerce.
Jeff Bezos was recognized as Person of the Year by Time magazine in 1999 for his visionary leadership in the e-commerce industry. His net worth is currently estimated at $204 billion, making him the third richest person in the world.
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Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
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