From Rs 8 Lakh To Billionaires: Jeff Bezos' Siblings Mark & Christina Struck Gold With Amazon

Who would have thought that a ten-thousand dollar investment would turn into billions one day?!

The story of Amazon founder Jeff Bezos is one for the books. The billionaire, who has amassed a net worth of Rs 16 Lakh Crore, isn¡¯t the only one to have made billions out of Amazon. In fact, his siblings Mark and Christina¡¯s story will also leave you shell-shocked.

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Back in the 1990s, this duo invested a mere 10,000 dollars (Rs 8.33 lakh approx) in Amazon.com inc when they bought 30,000 shares each.

Over the years, this investment has experienced tremendous growth, transforming each of them into billionaires with a staggering return exceeding 10,249,900%.

Going by a report by Bloomberg, their shares which were worth Rs 7,582 crore each in 2018 are now worth over Rs 8,698 crore each. This is due to the increase in Amazon¡¯s stock from $91 dollars in 2018 to now $149 dollars.

How Amazon Came Into Existence

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In July 1994, Jeff Bezos launched Amazon at a time when the internet was primarily utilized by governments and educational institutions. Despite the inherent risks, he recognized the future potential of online shopping and made the bold decision to establish an internet-based store.

Pitching his innovative concept to investors, including his own family, posed significant challenges for Bezos. He candidly informed his parents that there was a 70% likelihood of losing their investment. He emphasized the importance of understanding the risks involved, even lightening the mood by joking that he hoped they would still welcome him at Thanksgiving dinner even if the venture failed.

This little anecdote is cited in his book ¡°The Everything Store: Jeff Bezos and the Age of Amazon.¡±

Bezos Sought Investment From 60 People Which Only Included His Friends And Family

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In 1994, Jeff Bezos held 60 meetings with family and friends to garner support for his vision of an online bookstore. However, out of those 60 encounters, 38 individuals declined to invest.

Amazon encountered numerous hurdles along its path to success, including its initial public offering on May 15, 1997, priced at $18 (Rs 1,499) per share, and navigating the volatile fluctuations of the dot-com bubble. Yet, under Bezos's guidance, Amazon not only weathered these challenges but flourished, evolving from a mere online bookstore to a juggernaut valued at $1.5 trillion.

Mark And Christina Bezos Have Played An Important Role In Jeff¡¯s Success Story

While Mark and Christina Bezos may not frequently grace the headlines, their contributions to the Amazon saga have been substantial. Mark forged his own path, establishing himself in the realms of advertising and philanthropy, while Christina opted for a more private existence, focusing on family matters and charitable endeavors.