Jeff Preston Bezos, born in 1964, is an American entrepreneur, investor, media proprietor, and computer engineer. He is the founder and executive chairman of Amazon and is the second richest man in the World, with a net worth of $215 billion. The American billionaire has played a vital role in the growth of e-commerce.

How Did Jeff Bezos start Amazon?

Bezos, 58, founded Amazon in a garage in Seattle in 1994. Earlier, he pitched the idea of an online bookstore to his boss, David E. Shaw, the founder of a Hedge fund, but he did not show any interest.

Amazon.com, which started by selling books, has become the World's largest retailing platform for everything.

Amazon's key feature is its diversification and expansion over time. For example, in 2017, it acquired Whole Foods Market and its pharmacy business.

Demand for online shopping spiked during the COVID-19 pandemic, so Amazon's share price jumped 76% in 2020.

Some Amazing Facts About Jeff Bezos

Here are some interesting and lesser-known facts about Jeff Bezos:

He's a man of constant salary

Despite his immense wealth, Bezos' annual salary at Amazon remained steady at $81,840 for over two decades. This is a typical middle-class income in the US, while his wealth stemmed from the soaring value of Amazon's stock.

PowerPoint is a no-go in his world

  In in-depth discussions at Amazon, Bezos famously banned Microsoft PowerPoint presentations. Instead, he prefers circulating a six-page memo beforehand, which allows for a more thorough analysis of topics.

He has an adventurous palate

 Bezos is fearless in trying exotic foods. From enjoying octopus with a business founder to indulging in iguana at a fancy dinner, his culinary choices go beyond the ordinary.

Laughter with a side of security

 Bezos has a distinct laugh, which some have even noted has become more "villainous" with his growing wealth.

Interestingly, Amazon spends significantly on its security, including bulletproof panels in its office!

These stats offer a glimpse into Bezos' work style, personality, and the security measures surrounding such immense wealth.

Quotes by Jeff Bezos that can teach you the best business lessons

According to Jeff Bezos, a customer doesn't need to talk to the owner for the best customer service. He says:

"The best customer service is if the customer doesn't need to call you, doesn't need to talk to you. It just works."

Word of mouth is the most powerful tool in marketing in the eyes of the founder of Amazon.com, he says:

"If you do build a great experience, customers tell others about that. Word of mouth is very powerful."

Bezos emphasizes the importance of having in-depth knowledge of your business. He states:

"If you don't understand the details of your business you are going to fail."

The World's third richest man suggests business owners be customer-focused rather than focusing on competitors. He explains:

"If you're competitor focused, you have to wait until there is a competitor doing something. Being customer-focused allows you to be more pioneering."

Jeff Bezos understands that no success can be achieved without failure and experiment. He says:

"Failure and invention are inseparable twins. To invent you have to experiment, and if you know in advance that it's going to work, it's not an experiment."

Conclusion

In short, Jeff Bezos is a guiding star for business owners who want to make a difference in the e-commerce world. To him, customer focus and giving customers the best buying experience are the keys to growing any business.