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  • Jeff Bezos is the richest person in modern history.

  • His estimated net worth is $156 billion, making him the first person to accumulate a fortune over $100 billion.

  • Bezos' wealth is so massive that according to Business Insider calculations, spending $88,000 to him is similar to an average American spending one dollar.

  • And he intends to spend his entire fortune for the good of humanity, but it might not be in the way that you'd think.

  • Amazon is the primary source of Bezos' considerable wealth.

  • He founded the company in 1994, and today, he's the CEO and largest stockholder with a 16% stake in the company.

  • As the Amazon stock price increases, so does its leader's wealth.

  • Since it's IPO in 1997, Amazon's split adjusted stock price has increased 97,000%.

  • Amazon has turned into a brand that touches almost ever aspect of life, and has grown through lucrative acquisitions and investments.

  • In 2009, Amazon purchased the online shoe retailer Zappos for $1.2 billion.

  • In 2017, the company bought Whole Foods for $13.7 billion, giving Amazon a hold on 18% of the U.S. online grocery market.

  • And in February of 2018, the company unveiled Amazon Web Services.

  • It's $17.5 billion cloud computing business.

  • Not surprisingly, the richest man in the country is also one of the largest land owners in the country.

  • He owns a 5.3 acre home in Medina, Washington that's valued at $25 million.

  • His estate neighbors the second richest living person, Bill Gates.

  • Bezos also owns a $23 million townhouse in Washington, DC, neighboring the Obamas, and Ivanka Trump.

  • On top of that, he has a $25 million mansion in Beverly Hills and three apartments in New York City, that total a value of $17 million.

  • And finally, his largest real estate purchase is a 30,000 acre ranch in Van, Horn Texas that serves as a base for his space exploration company, Blue Origin, but we'll get back to that.

  • To get around to all his homes and investments, Bezos owns a $65 million Gulfstream jet.

  • Unlike his billionaire peers, Bezos doesn't engage in public philanthropy very often, but he has made large donations to Mary's Place, an organization that supports Seattle's homeless population.

  • As well as TheDream.US, which supports people protected by the Dream Act.

  • He does, however, publicly invest in and fund projects.

  • In 2013, Bezos funded and led an expedition to recover one of the rocket engines from the Apollo 12 mission, from the floor of the Atlantic Ocean.

  • On his request, NASA donated it to Seattle's Museum of Flight.

  • In early 2018, Bezos provided $42 million in funding for the 10,000 year clock through The Long Now Foundation.

  • The clock is meant to be a symbol of long-term thinking.

  • He's made a number of investments and acquisitions through his Venture Capital firm, Bezos Expeditions.

  • And he is personally invested in Google, Uber, Airbnb, and more, including his 2013 purchase of The Washington Post for $250 million.

  • But his most ambitious venture has been Blue Origin.

  • It's rocket, New Sheppard, has had several successful test flights, and it's currently developing a larger rocket called New Glenn.

  • He liquidates $1 billion of Amazon stock per year to fund the project, and its goals of supporting large-scale human space flight and colonizing the solar system.

  • And he plans to use all his wealth to fund space exploration.

  • Bezos believes it's his most important work.

  • He hopes Blue Origin will increase human production and efficiency, and will help avoid civilization stasis.

  • I'm very lucky because I feel like I have a mission-driven purpose with Blue Origin that is I think incredibly important for civilization long term.

Jeff Bezos is the richest person in modern history.

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How Jeff Bezos Makes And Spends His Billions

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    Annie Chien posted on 2019/10/19
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