In 1995, Jeff Bezos decided give up your stable job and well paid as an analyst on Wall Street to set up a book sales business online. At that time, Jeff Bezos was not the millionaire who is today, so he went to see his parents and asked them for help to invest in Amazon. His father’s first question was clear and direct: “What is the Internet?”
Miguel and Jacklyn Bezos did not know much about that new technology, but they knew that their son was determined to squeeze it to the maximum. According to the writer Brad Stone in the book “The dream store. Jeff Bezos and the Amazon era“Bezos warned his parents:” There is a 70 % chance that you will lose everything. I just want to make sure I can return home for thanksgiving if this doesn’t work. “
Without hesitation, the Bezos invested a good part of the savings of their entire life in their son’s project. Today, that initial investment has grown 15,500% And it is worth more than the GDP of Iceland and Maldives together, making their father so rich (his mother died a few weeks ago) that, as he counted The Wall Street JournalMiguel Bezos is hiring a CEO to administer the assets of his Family Office.
The origin of a historical fortune
In the middle of the nineties, Mike Bezos, of Cuban origin and with family ties in a Small Valladolid municipalityhe decided to trust family savings to his son Jeff and, incidentally, becoming the first investors after the Amazon Foundation.
According to documents Of the US Stock and Stock Exchange Commission (SEC), the initial investment of the Bezos was through the purchase of 582,528 Amazon shares to, only a few months later, expand your investment by buying 847,716 more shares. In total, 1,430,244 shares at a purchase price of 17 cents per share. That leaves a total investment of 243,141.48. Such and as it revealed Bloombergit is a fortune for a couple formed by a single mother who had to raise her son alone with a poor salary while studying A race, and a Cuban immigrant who arrived in the US with 16 years.
After thirty years, if the initial investment had remained intact, it would amount to about 72.6 billion dollars. However, after different sales and donations of shares, the family heritage of Jeff Bezos’s parents exceeds 40,000 million dollars.
CEO is sought for fortune
According to The Estimates of The Wall Street Journal and Bloomberg, Aurora Borealisthe company that is responsible for managing the heritage of Miguel Bezos, was founded in 2020 and, if it were a person, would take 48 position among the greatest fortunes of the List of Millionaires of Forbes. Aurora Borealis, is currently one of the Family officers most relevant in the world for its heritage volume.
The company manages assets of very diverse kinds, from those foundational actions of Amazon to investments in funds and projects of philanthropy through the Bezos Family Foundation.
The growing heritage of the father of Jeff Bezos has reached levels that have become necessary to professionalize the team that manages it from Aurora Borealis, Speaking as CEO To Valeria Alberola, an executive with experience in the management of great heritage. As a reference, the new Amazon Fortuna Fortuna manager managed the Family Office of the Walton familyfounders and owners of the Wallmart supermarket chain. His goal, get Miguel “Mike” Bezos even richer.
The history of Miguel Bezos’ fortune is not only relevant for facilitating the foundation of one of the world’s largest companies, it is also a unique phenomenon since it is not usual for a family loan of just under $ 244,000, ends up making millionaires to the founder’s parents, and not to external investors. Was A risky bet That he went well, but he could also have left Jeff Bezos banished from thanksgiving dinners and his parents with a serious economic problem.
Image | Flickr (George W. Bush Presidential Center)
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