Amazon founder Jeff Bezos first made The Forbes 400 list two decades ago, debuting in 1998 with a net worth of $1.6 billion. See how he rose through the ranks to become the world's richest person.
Fluid Concepts and Creative Analogies,Also in 2005, Bezos launches Amazon Prime. For an annual fee of $79, customers received unlimited two-day shipping with no minimum purchase requirement. Prime is met with skepticism about whether customers will pay for the “all-you-can-eat” express shipping program—and whether Amazon can afford the operational costs.Bezos introduces the Kindle, a $399 e-reader that has access to more than 90,000 books, magazines and newspapers.
The Kindle has taken more than three years of development. Bezos’s only directive to his engineers was that the e-reader must download any book in 60 seconds or less. When an executive asked Bezos about the budget,Jeff and his wife, MacKenzie, wearing matching windbreakers, arrive at the annual Allen & Co. conference in Sun Valley, also known as “billionaires’ summer camp.”
That fall, the e-commerce company ventures into Hollywood with the launch of Amazon Studios. It becomes the first streaming service to win a Golden Globe for Best Series and be nominated for the Best Picture Oscar, beating NetflixBezos swings by 30 Rock to promote the new Kindle Fire on. The choice to sell the tablets at a break-even price hurts short-term profits.“We don’t focus on the optics of the next quarter; we focus on what is going to be good for customers.
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