Someone wise (read: experienced) once said, “You need money to make money.” That certainly held true for Amazon co-founder Jeff Bezos, the now second-richest man in the world, who had what many would call a rocky start. While Amazon.com Inc. today enjoys a staggering market cap of $2.4 trillion, there was a time, just a few decades ago, when the company’s very survival was in question.
At 60 years old, Bezos boasts a jaw-dropping net worth of $241 billion, but his entrepreneurial journey began with a critical challenge, raising funds to launch his fledgling business. In a 60 Minutes interview with Charlie Rose, Bezos recalled those nerve-wracking days in 1995. “I needed to raise $1 million at a certain point, and I ended up giving away 20 percent of the company for a million dollars,” he shared. That stake, worth nearly $500 billion today, represents one of the most incredible returns on investment ever recorded.
Fortune, as they say, favors the bold. Bezos’ unwavering conviction helped him secure the funds he desperately needed. After numerous meetings in 1994, his parents stepped in with a generous $245,573 to help a struggling Amazon. In 2023, that family contribution had skyrocketed in value to over $48 billion, making it one of the most lucrative investments in history.
Bezos finally raised money from 22 individuals, including Madrona Venture Group’s Tom Alberg and venture capitalist Nick Hanauer, who contributed approximately $50,000 each.
Bezos chuckled as he recalled, “The first question every investor asked me was: ‘What’s the Internet?’” Today, his success provides a resounding answer to that question. Amazon had approximately 1,525,000 employees in 2023, more than the population of Helsinki and Copenhagen combined.
Fast forward to today, and Bezos spends as extravagantly as he once fundraised. Maintaining his superyacht, the magnificent Koru, which took five years to build, and its support vessel, Abeona, costs an estimated $60 million annually, or $5 million monthly. (Luxury yachts typically demand upkeep costs equivalent to 10% of their value annually.)
The Koru is a 416-foot masterpiece with three towering masts, each standing 230 feet tall, that harness kinetic energy to propel the vessel. The yacht is so massive that, for it to leave the shipyard after completion, a historic bridge in Rotterdam had to be dismantled. Bezos even offered to fund the dismantling and reconstruction of the 95-year-old De Hef bridge but later abandoned the plan amid public outcry. Eventually, Koru was towed away without her masts, which were later assembled.
His lavish lifestyle extends to Abeona, the 246-foot shadow vessel that acts as a floating garage. This high-tech companion, the largest support vessel built by Damen Yachting, carries emergency relief support equipment, a suite of toys and tenders, and even a helipad and hangar for a D14 value helicopter for Bezos’ partner, Lauren Sanchez.
Abeona accommodates a total of 45 people, including crew, guests and other specialist staff. Bezos lounging on Koru’s upper deck, reflecting on his journey from pitching investors to owning the world’s largest sailing yacht, feels like the perfect culmination of his extraordinary journey.
Note – As of writing this article, according to the Bloomberg Billionaires Index, Jeff Bezos has a net worth of $246 billion.
