The One Decision That Made Jeff Bezos a Billionaire Before 40
Written by
T. Woods
Edited by
Jenna Klaverweiden
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Jeff Bezos isn’t just a billionaire — he’s one of the richest human beings on Earth, with an approximate net worth of $209 billion. The founder and executive chairman of Amazon is currently the second-wealthiest person in the world (behind Elon Musk) and was indeed the wealthiest person from 2017 to 2021, per the Bloomberg Billionaires Index.
So a question emerges from such colossal, historic wealth: How did Bezos amass it? How did he become billionaire before he was even 40 years old?
A Simple Yet Complex Answer
The answer is at once rather simple and yet very complex. How did Bezos become a billionaire? He quit his job.
Bezos graduated from Princeton with degrees in computer science and electrical engineering in 1986, and shortly thereafter explored the world of Wall Street. There, he was hired by the D.E. Shaw & Co. hedge fund, and in less than five years was named vice president.
Bezos thrived in D.E. Shaw & Co.’s data-driven culture, adhering to the belief that using data and information to their advantage allowed companies to succeed in an increasingly tech-driven world. While with the company, Bezos discovered that burgeoning internet use was growing by a staggering amount per year and realized that it could be a massive moneymaker.
This realization drove Bezos to his decision: He quit his very lucrative and successful job at D.E. Shaw & Co. in 1994.
Founding Amazon
Following this, Bezos moved from New York to Seattle, utilized $10,000 of his own money as well as $84,000 in interest-free loans, and founded Amazon.com as an online bookseller, according to “The Investors Podcast.” The site launched on July 16, 1995.
The company quickly grew exponentially, generating $20,000 in sales every week after two months, per Biography. Amazon went public in May 1997 at $18 per share, according to Bloomberg, and the company continued to ascend as both an economic and cultural juggernaut.
By 1998, Bezos made the Forbes list when he hit a net worth of $1.6 billion at the incredibly young age of 34, per CNBC. From there, his wealth only continued to multiply — all because he quit his job at the age of 30.
More From GOBankingRates
Sources
- Bloomberg, “Bloomberg Billionaires Index.”
- The Investors Podcast, “How Jeff Bezos Built Amazon.”
- Biography, “Jeff Bezos.”
- CNBC, “Jeff Bezos was briefly the world’s richest person.”
