Jeff Bezos, the CEO and founder of the most valuable retail company on the planet keeps about $9.53 billion of his assets in cash.
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The usual narrative that explains the wealthy hardly keep most of their funds in the bank has just been affirmed by the world’s richest man.
Jeff Bezos, the CEO and founder of the most valuable retail company on the planet and believed to be worth $183 billion, keeps about $9.53 billion in cash (5% of his net wealth).
The American tech entrepreneur’s wealth is coming from strong gains from his online retail company now worth over $1.5 trillion.
Amazon is the world’s largest retail cyber company in terms of market value, taking to account that in the past 365 days he has gained $68 billion (much bigger than the Nigerian Stock Exchange valuation of $46 billion)
What this means: Most rich individuals including, successful Tech entrepreneurs, fashion icons, and leading hedge fund managers would rather invest most of their funds in assets like stocks, real estate businesses, debt instruments, and lately cryptos than holding a significant amount of cash at the bank because many banks offer unimpressive interest rates. Cash is often exposed to inflation, and in some cases depreciate in value faster than financial assets like gold, Bitcoin.
With that being said, it’s key to note the world’s elite keep a significant amount of cash primarily in case they need it for buying or investing in future assets.
What you must know:
The world’s richest man, Jeff Bezos owns about 11% of Amazon, according to its most recent SEC filing.
Jeff Bezos held 16% of the world’s largest online retailer before a 4% stake was transferred to his ex-wife last year following the pair’s divorce.
He is also the principal owner of space exploration company Blue Origin, which is included in Bloomberg’s calculation of investment cost.
READ: Tesla up 500% in 2020, near $500 billion market value
Milestones
1964 Jeffrey Bezos is born in Albuquerque, New Mexico.
1986 Graduates from Princeton University. Takes job at Bankers Trust.
1994 Founds Amazon.com to sell books online.
1997 Lists Amazon in an initial public offering at $18 per share.
1999 Named Time magazine’s Person of the Year.
2003 Survives a helicopter accident in southwest Texas.
2007 Introduces the Kindle electronic book reader.
2010 E-book sales surpass traditional book sales on Amazon.com.
2013 Purchases the Washington Post newspaper for $250 million.
2017 Becomes the richest person on earth.
Source; Bloomberg Billionaire Index
READ: Aliko Dangote is the only African among the world’s 100 richest people
About a year ago found it important to bring to you a few pieces of advice from the billionaire and founder of Amazon, Jeff Bezos on what it takes for someone to succeed in business.
Be passionate: Bezos believes it’s important for an entrepreneur to follow his or her passion. He says that it’s the people who care that win.
READ: MacKenzie Bezos is set to get her bumper divorce settlement
“You have got to have some passion for the arena that you are going to develop and work in, because otherwise you’ll be competing against those who do have passion for that, and they’re going to build better products and services.”
Bezos added that to be a successful business person, you need to be a missionary and not a mercenary, meaning that you have to be mission-motivated, not money-motivated.
Be ready to embrace risk and failure: The business tycoon also made it known that taking risks and failing is an integral part of becoming successful in business.
READ: This billionaire made $39 billion in 2019, thanks to his luxury brands
“If you come up with a business idea and there’s no risk there… it’s probably already being done… [and] being done well…. So you have to have something that might not work and you have to accept that your business in many ways is an experiment and it might fail, And that’s ok.”
Bezos has had his own share of failures, like the demise of Amazon restaurants and Amazon’s pop-up kiosks. Even at that, he continues to enjoy risk-taking in business.
Change your mindset: Bezos has learned from interacting with the world’s most influential minds that the people who usually get things right are those who listen the most and who change their minds often.
READ: Here’s How To Determine Your Net Worth
“What I have found that people who are right change their mind even without getting new data. They have the same data set that they had at the beginning, but they wake up and they reanalyze things all the time and they come to a new conclusion and then they change their mind.”
“In fact, people who win typically have worked hard to recognize what beliefs or biases they hold and “actively try to look for evidence that does not confirm them,” Bezos said.
READ: Bernard Arnault catches up with Bill Gates, ranks second richest man in the world
RELATED TOPICS:AMAZONJEFF BEZOS
Olumide AdesinaOlumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment Trading. Featured Financial Market Analysis for a Fortune Global 500 Company. Member of the Chartered Financial Analyst Society. Follow Olumide on Twitter @tokunboadesina or email olumide.adesina@nairametrics.
BILLIONAIRE WATCHAirbnb co-founder, Brian Chesky gains over $7 billion in just a few days
The CEO of the room-sharing service company with more than 5 million listings has gained more than $7 billion dollars in the past week.
Published 4 hours ago on December 13, 2020By Olumide Adesina Airbnb plans $30 billion IPO valuation
Airbnb has made its investors and more obviously, its founder CEO, Brian Chesky, the richest gainers in the past week.
Brain Chesky, the CEO of the room-sharing service company with more than 5 million listings has gained more than $7 billion dollars in the past week.
The 39-year-old tech entrepreneur now has a net worth of $11.9 billion.
What you should know
According to the company’s December 2020 S-1/A filing, Brian Chesky owns about 67.2 million shares in the world’s most exciting stock. Brain Chesky owns an additional 9.2 million options in the company. After the company began trading on December 10, 2020, Chesky’s net worth increased by over $7 billion.
The tech entrepreneur was born on August 29, 1981. After graduating from the Rhode Island School of Design, he moved to California and rented a flat with classmate Joe Gebbia. Running short of rent in October 2007, they sold sleeping spaces in their apartment and decided to commercialize the idea leading to the birth of Airbnb.
He started Airbnb about twelve years ago with Nathan Blecharczyk and Joe Gebbia is believed to have raised about $6.4 billion in the private markets, according to PitchBook data.
Following a remarkable comeback, the company’s share began trading on at its debut for $146 per share, more than double its initial public offer price and values the business at more than $100 billion.
The recent valuation of Airbnb represents a major leap, taking into account its previous valuation high of $31 billion in a 2017 financing round.
At its present trading valuation, Airbnb is more valuable than Uber, and more than two leading hospitality giants, Hilton and Marriott combined.
Nairametrics, some days ago did an in-depth analysis on why it felt the Brian’s Chesky company’s IPO might be worth your money.
Though Airbnb’s seeming entry into the public market looks new, the business has built a consistent pathway of generating impressive revenue, that it’s closest rivals (Bookings, Expedia) would turn green at.
CONTINUE READINGBILLIONAIRE WATCHTop 5 richest people gain over $200 billion in 365 days
In a year that was adversely affected by the COVID-19 pandemic, the world’s top 5 richest people gained over $200 billion.
Four of the top five in the list of the world richest people on the planet unsurprisingly are from the technology sector amid the top 5 gaining over $200 billion YTD, according to data retrieved from Bloomberg Billionaires Index data.
Jef Bezos
Top on the list, is Jeff Bezos, the CEO, and founder of Amazon.
He is presently valued at about $182 billion, showing a gain of a whopping $67 billion.
Coming from strong gains from his online retail company now worth over $1.5 trillion, Amazon is the world’s largest retail cyber company site in terms of market value.
Elon Musk
Tech whiz kid, Elon Musk who recently overtook the founder of Microsoft, Bill Gates, is ranked 2nd. He is now estimated to be worth about $147 billion, showing a yearly gain not seen in modern history, of about $119 billion.
He founded and leads top tech companies like Tesla, Space, and Neuralink, which has shown admirable strides in the tech ecosystem.
Tesla Stock surprisingly has returned about 800% within a year alone to investors and now has a market capitalization that stands at $608 billion (bigger than Africa’s largest economy).
He is within the striking distance of the present world’s richest man, Jeff Bezos.
Bill Gates
In the third position is another popular tech founder, Bill Gates, the founder of the most valuable software company, Microsoft.
Bill Gates made his wealth when he simplified the computer operating system by creating Microsoft Windows, the leading operating system in personal computers globally today.
For many years Gates had been the world’s richest man. He now has a wealth fortune of $129 billion with a yearly gain of about $15.7 billion.
Bernard Arnault
Europe’s top entrepreneur and French celebrated fashion icon, Bernard Arnault is fourth on the list with a fortune now estimated to be worth $110 billion with a yearly gain of $4.6 billion.
He is the only billionaire on the top 5 that isn’t from the tech ecosystem.
The french-born billionaire got extremely wealthy through his flair for investing in leading luxury brand chains.
Most of his wealth comes from his controlling stake of LVMH he controls through his holding known as Christian Dior.
Mark Zuckerberg
Facebook’s founder, Mark Zuckerberg is fifth on the list, with a fortune estimated to be worth $105 billion with a yearly gain of about $27 billion.
He owns the biggest online social medial company, popularly referred to as Facebook, and other household tech brands including Instagram and WhatsApp.
Bottom line: Through stock holdings, and investments prevailing in the world’s biggest companies, their founders, major shareholders unsurprisingly made the list amid an era that has seen the wealth of the middle class erode globally. As job and social mobility go remote, tech brands are better positioned to gain in the near term, thereby printing more gains to their owners as seen above.
CONTINUE READINGBILLIONAIRE WATCHElon Musk closes in on Jeff Bezos for world’s richest man title
Elon Musk is now worth $155 billion and within striking distance of the present world’s richest man, Jeff Bezos, estimated to be worth $185 billion.
Published 5 days ago on December 8, 2020By Olumide Adesina Elon Musk, Tesla, SEC, Stock, Twitter, COVID-19: Tesla’s Elon Musk to produce ventilators as fast-spread of disease lingers
Tesla’s outstanding performance this year has gotten critics of the fast-rising tech company off their tail.
The man behind such an ambitious project, Elon Musk, is now worth $155 billion and within striking distance of the present world’s richest man, Jeff Bezos, estimated to be worth $185 billion, according to data retrieved from Bloomberg Billionaire Index.
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