When was Amazon Founded and Does Jeff Bezos Still Own It?

The Amazon founder reportedly has a net worth in excess of $170 billion.

Amazon is renowned worldwide for being one of the most successful companies in history. It has seen tremendous growth in recent times, thanks to the surge in online shopping during the Covid-19 pandemic. Today, it employs over 1.3 million individuals across the globe. What started as a traditional online retailer has now expanded its operations to include tech, media, and much more. Jeff Bezos, the founder of Amazon, is now also at the helm of Blue Origin—a company with a vision to enable space habitation for the betterment of Earth.

A fascinating Channel 5 documentary called “Amazon: How Do They Really Do It?” is set to air tonight, May 4, at 9pm. This documentary delves into the story behind Amazon—its origins, featuring archive footage of Bezos discussing its future, and its journey to becoming one of the world’s most prominent brands. With the documentary generating buzz, many fans are eager to gain additional insights into this online retail giant.

When was Amazon Founded?

Amazon began life as an online book retailer.

Although it feels as if Amazon has been around since time immemorial, the e-commerce giant was actually established in 1994. It first emerged in Bellevue, Washington, in the United States, starting as an online bookstore. Jeff Bezos, a former Wall Street Executive, supposedly chose the name due to its alphabetically advantageous position and its association with the vast South American river.

From the outset, Bezos envisioned Amazon as more than just a book retailer. He persistently worked towards transforming the business into an e-commerce platform that simplified transactions between customers and businesses.

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His rallying cry of “Get Big Fast” adorned the back of employee T-shirts as Amazon swiftly expanded its reach into music, video, and various other sectors. Over time, it evolved into the colossal retail and tech empire that we recognize today.

Does Jeff Bezos Own Amazon?

Bezos was CEO for 27 years.

Jeff Bezos relinquished the position of Amazon CEO in 2021 after a 27-year tenure. However, it is widely reported that he still possesses approximately 10% of the internet behemoth’s shares. Andy Jassy, the former manager of Amazon Web Services (the cloud computing division), assumed the role of CEO in July of the previous year. Jassy’s appointment was accompanied by a reported stock payout of $200 million, which will be distributed over the next ten years. Jassy, a long-standing employee, joined Amazon a mere three years after Bezos founded the company.

How Much is Amazon Worth?

As a publicly-traded company, Amazon’s valuation experiences significant fluctuations. Bloomberg recently highlighted a notable decline in the company’s market value, resulting in a loss of over £20 billion from Jeff Bezos’s personal fortune. Nevertheless, with a current valuation of $1264.25 Billion (according to Macrotrends.net), Amazon is unlikely to be tightening its belt any time soon.

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