Career
Bezos turned down offers from Intel, Bell Labs and Andersen Consulting and joined Fitel, a fintech telecommunications startup, then moved to Bankers Trust and in 1990 to the quantitative hedge fund D. E. Shaw & Co., where he became one of its youngest senior vice presidents. In 1994 he came across a statistic that web usage was growing at 2,300 percent a year, drew up a list of roughly twenty products that could be sold online, and settled on books because the catalog was vast and no physical store could stock it all. He left D. E. Shaw and drove west with his wife MacKenzie, writing the business plan on the way. The company was incorporated in Washington State on July 5, 1994, first under the name Cadabra, Inc., renamed Amazon.com within months after the world's largest river, and run out of the garage of a rented house in Bellevue. The site opened to the public on July 16, 1995. Amazon went public on the NASDAQ on May 15, 1997 at $18 a share, raising about $54 million.
His first letter to shareholders, attached to every annual letter for the next two decades, laid out the doctrine the company still runs on: optimize for long-term market leadership rather than quarterly profit, take cash flows over the appearance of GAAP earnings, and treat every day as Day 1. Amazon expanded from books into music, electronics and toys, opened its store to third party sellers, launched Prime in 2005, released the Kindle in 2007, and in 2006 began selling its own computing infrastructure as Amazon Web Services, which became the company's largest source of operating income. The 1999 Time Person of the Year cover was followed by a collapse in which Amazon's stock fell roughly 90 percent in the dot-com crash, a period Bezos survived by insisting the underlying business metrics were improving. Amazon bought Whole Foods for about $13.7 billion in 2017 and became the second American company to touch a $1 trillion market capitalization on September 4, 2018.
Outside Amazon, Bezos founded the spaceflight company Blue Origin on September 8, 2000, under the motto Gradatim Ferociter, or step by step, ferociously. Its New Shepard suborbital vehicle carried Bezos himself, his brother Mark, aviator Wally Funk and student Oliver Daemen past the Kármán line on July 20, 2021, and its orbital New Glenn rocket first flew in January 2025. He agreed to buy The Washington Post on August 5, 2013 for $250 million in a personal capacity through Nash Holdings, with the sale closing that October. He stepped down as chief executive of Amazon on July 5, 2021, exactly twenty seven years after founding it, handing the job to AWS head Andy Jassy while remaining executive chairman and the company's largest individual shareholder. In November 2025 he took his first operating role since leaving the Amazon chief executive job, co-founding the artificial intelligence company Project Prometheus with the former Google X and Verily scientist Vik Bajaj and serving as its co-chief executive, focused on AI for engineering and manufacturing in computing, aerospace and automobiles.