Think You’re Too Old for Wealth? 4 Lessons To Learn From Jeff Bezos Getting Rich in His Mid-30s
Written by
Josephine Nesbit
Edited by
Zuri Anderson
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
Amazon founder and CEO Jeff Bezos didn’t start in life as a billionaire. Bezos, among other ultra-wealthy, didn’t build their fortune — or even see success — until their mid-30s and sometimes even later.
Today, he has an estimated net worth of just under $243 billion, according to Forbes, and is the fourth richest person in the world behind Elon Musk, Larry Page and Larry Ellison.
So if you think you’re too old for wealth, here are several lessons to learn from Bezos.
Starting Later Doesn’t Mean You’re Behind
While Bezos founded Amazon, the world’s largest e-commerce retailer, in 1994 out of his Seattle garage, he didn’t reach billionaire status until 1999, at age 35.
In the months leading up to the launch, Bezos and a few employees developed software for Amazon.com out of his garage, and he enlisted 300 friends to beta test his website, according to Biography. The startup then expanded into a two-bedroom house.
Within two months, sales reached $20,000 per week, and Amazon became a publicly-traded company on May 15, 1997. Two years later, Amazon outpaced competitors to become a leader in the e-commerce space. Yearly sales jumped from $510,000 in 1997 to $634 billion in 2024.
Outside of Amazon, Bezos started the space exploration company, Blue Origin, and purchased The Washington Post and other publications affiliated with the parent company.
Long-Term Thinking Pays Off
One of Amazon’s core values has always been to think longer-term than most companies. According to Amazon executive Bill Carr, Amazon Prime Video was the result of a decade of research, development and content acquisition, Forbes reported.
Carr added that while most companies will give up on an idea if it doesn’t produce quick returns, but Amazon will stick with it for five, six or seven years while continuing to learn and improve until it gains momentum.
Reinvest Early to Grow Faster
Although Bezos stepped down as CEO of Amazon in 2021, he’s still an executive chairman and one of the company’s biggest shareholders, GOBankingRates previously reported. However, he didn’t bring in a big paycheck while he was in charge.
Bezos’ stipend salary from Amazon in 2020 was only $81,840, which qualifies as a middle-income wage in California.
Growth over profit was a goal from the beginning. According to Fundable, the company continued to “plow their revenue back into growth” within the first few months of success. Another big focus was long-term growth, with profit remaining around $0 or below while revenue increased.
Take Risks and Embrace Failure
The Motley Fool pointed out that a big part of Bezos’ success was his willingness to take on risk and embrace failure. He left a high-paying finance job to start Amazon and made big early-stage investments that could have ended in failure.
He’s also talked about his “regret minimization framework,” which he uses to make big decisions. According to The Fool, he imagines he’s looking back on his life at age 80 and considers which decision will minimize the number of regrets he has.
More From GOBankingRates
