It is not unusual for families to promote the business ideas of their children. In many cases, however, these investments mean a loss for parents. The family around Jeff Bezos could be one of the few success stories with their investments in Amazon.
Parents support their children wherever they can. Even one or the other crazy business idea is supported financially, at least by one parent. Often, these investments mean a loss.
Even the parents of Jeff Bezos, the founder and CEO of Amazon, have invested in the career or rather in the business of their son.
If you believe Bloomberg’s research and calculations, Bezo’s parents could be worth billions.
One of the most successful investments ever?
In 1999, Amazon filed with the Securities and Exchange Commission a document listing the sale of shares in previous years.
The document becomes interesting when looking at the investors: So the company of Jeff Bezos sold in February 1995 582,528 ordinary shares to Miguel A. Bezos. In July 1995, 847,716 common shares followed the Gise Family Trust, behind which Jacklyn Gise Bezos is.
After the IPO of Amazon and three stock splits would be the purchased papers of the parents of Jeff Bezos worth about 30 billion US dollars. That would make them richer than Paul Allen, one of the founders of Microsoft.
But that would only be the case if Miguel – called “Mike” – and Jacklyn – called “Jacky” – Bezos had not sold any shares since 1999. The actual assets are not known because the holdings of the parents have not been publicly disclosed since the late 90s.
As you know, many Amazon shares have been donated to the charitable foundation of Mike and Jacky as a regular donation. The parents of Jeff Bezos still have a decent share of one of the world’s most valuable companies.
Do the siblings of Jeff Bezos also benefit?
Jeff Bezo’s fortune amounts to well over $ 120 billion, according to Amazon’s current share price.
If the calculations in the Bloomberg Billionaires Index are correct, Miguel and Jacklyn could still hold shares worth about ten billion dollars today, taking into account sales patterns and the disclosed donations.
Also Mark and Christian, the siblings of Jeff Bezos, bought in 1996 each 30,000 Amazon shares for about $ 10,000. If none of them sold their shares, the respective shares would have a value of 640 billion US dollars.
The knack for good business seems to have been inherited at least in the family Bezos. Whether this results in family disputes, only the family knows.
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About the author
Stephanie Kowalski is a blogger and supports small and medium-sized companies in her communication as a freelance PR. In her blog Online PR Guide, she explains how to communicate successfully with the help of proven PR strategies and modern online channels.