Jeff Bezos was so unsure about the business working that he told his parents that they were “very likely to lo…Read More
Amazon CEO Jeff Bezos has been the world’s richest man for quite a while now and his fortune has grown impressively in the last six months or so. His personal estimated wealth, as per the Bloomberg Billionaires Index, stands close to $194 billion. Bezos set up Amazon in 1994 as an online bookselling platform and since then has turned into this behemoth. However, when he set up Amazon, his parents gave him the initial push in the form of some cash. Bezos, as per a report by CNBC, that quotes an old KING-TVs Evening Magazine interview, was given $245,573 by his parents to start Amazon.
Bezos was so unsure about the business working that he told his parents that they were “very likely to lose their entire investment in the company.” While his parents did give Bezos the initial support, his mother remained skeptical and told him “don’t quit your job” and asked whether he “can do this on weekends and nights.”
Not just his parents but Bezos also mentioned in the interview that there was little chance of building a successful company. “I thought there was a 30% chance that we might build a successful company,” Bezos said in that interview. “I never thought we’d build what Amazon has turned into, and I’m the most surprised on the planet.”
For the uninitiated, Bezos had a steady and ‘safe’ job at a hedge fund in New York. However, he quit that and moved to Seattle to start Amazon out of his garage. What was started as an online bookselling place — at a time internet was rather unknown — that was supposed to compete with the likes of Barnes and Noble has become the world’s biggest e-commerce platform.