The story of how Jeff Bezos’ brothers became millionaires by investing $10,000 in Amazon

Nicholas Lovejoy, who was the fifth person hired by Amazon in 1995, said that for a long time Bezos personally interviewed applicants for jobs at the firm (Michael M. Santiago/Poole via REUTERS).

The story of Jeff Bezos and his success at Amazon is unlike any other. What you may not know, however, is the crucial role Bezos’ siblings Mark and Christina played in the company.

And in the mid-90s, two brothers bet on Jeff Bezos’ vision and invested $10,000 in the then-fledgling online bookstore. It was quite a risky bet, but it was a decision that could catapult them into the billionaire category.

That’s what a Bloomberg report, cited by Yahoo Finance, showed, saying that the brothers each bought 30,000 shares of Inc. in 1996. for 10,000 dollars.

Million Dollar Solution

Now that modest investment has grown by a staggering 10,249,900%, which could mean the Bezos brothers’ stake in Amazon is worth over $1 billion.

The Luxury Launches article, citing a July 31, 2018 Bloomberg report, indicated that Jeff Bezos’ brothers’ shares were each valued at $640 million, based on Amazon’s closing stock price of $91 at the time.

If we jump to the present day, we see that Amazon’s share price is $149, so its assets are now valued at $1,044 million each.

More information in BANKING AND BUSINESS

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button