Bezos “God”: Revealing the Family Office of the World’s Richest Man

Bezos "God": Revealing the Family Office of the World's Richest Man

On July 20th, Amazon founder Jeff Bezos (Jeff Bezos) and his younger brother Mark Bezos (Mark Bezos) , Dutch investment company Somerset Capital Partners founder and CEO Joes Daemen (Joes Daemen) 18 years old Son of Oliver Daemen (Oliver Daemen) , and female astronaut Wally. Fink (Wally Funk) foursome consisting of individual commercial companies equipped Bezos Blue Origin (Blue Origin) “New Shepard number” rocket, flying in space.

This 11-minute space travel is very worthwhile, and it is estimated that the cost per minute is as high as 2.54 million U.S. dollars. Support this flight is Bezos Blue Origin company, this company is its family office Expeditions Bezos (Bezos Expedition) one of the following investment projects.

Bezos is a successful entrepreneur with a distinct personality, and his family office, Bezos Expeditions, is also full of Bezos’s personal touch.

Just like its name Bezos Expeditions (Bezos Expeditions) , for Bezos, the family office is not only a management institution for family wealth, but also supports his curiosity and desire to explore the universe, allowing him to complete the space Travel such an “expedition”.

In 1994, when few people in the world knew what the Internet was, Bezos thought of selling books through the Internet, and was the first to put forward and successfully practice the “long-termism” in the global Internet technology circle, which in return for Amazon today His achievements have also brought him the wealth of an invincible country.

And Bezos Expeditions, established in 2005, is more like Bezos’s “re-enterprise” from the perspective of its architecture: Blue Origin and F-1 restoration are Bezos’ exploration of the broader universe, but hidden The 10000 Year Clock in the deep mountains is a symbol of his long-termism. What supports him in exploring the future is the return on income brought by the long-term diversified investment of the family office.

The “Trinity” project of the family office is a re-launch of the 57-year-old Bezos, as he said when he announced his retirement as CEO at the beginning of the year: This is not about retirement. Just as I still tap dance to work, I am excited about this transformation.

Today, let’s take a look at how Bezos Expeditions helped Bezos make a gorgeous transformation at the age of 57 and realize his space dream.

Bezos’ space exploration

On July 20, 1969, astronauts Armstrong and Aldrin carried Apollo 11 to the moon, leaving an indelible impression on Bezos, who was only 5 years old at the time, and this became the origin of his space dream. The selection of the “New Shepard” space tour on July 20 is also to commemorate the 52nd anniversary of the Apollo 11 moon landing.

In 2013, Bezos’ expedition team discovered two damaged F-1 engine engines during an undersea expedition in the Atlantic Ocean. From 1967 to 1972, the United States used a total of 65 F-1 engines in the Apollo moon landing program, including 5 F-1 engines that power the first stage of the Apollo 11 spacecraft carrier rocket “Saturn 5” After completing his mission, he fell to the bottom of the Atlantic Ocean.

Bezos plans to repair the two F-1 engines and display them to the public after the repairs. At present, this “F-1 engine repair project” is one of the important projects that Bezos Expetidions is responsible for.

After Amazon brought great wealth to Bezos, Bezos began his space dream. In 2000, Bezos established Blue Origin, a commercial space company whose mission is to develop space tourism and moon settlement. After establishing his own family office in 2005, Bezos incorporated Blue Origin into the family office.

Bezos "God": Revealing the Family Office of the World's Richest Man

Image source: Blue Origin

Space travel is a high-input industry. The headquarters of Blue Origin is located in the real estate invested by Bezos in Seattle Kent. Bezos invests $1 billion in Blue Origin every year to support the operation of the company. Up to now, Blue Origin has more than 600 employees and successfully completed 15 tasks in a row.

Bezos’s space dream is too far away and is considered by some outsiders that it is just the “rich and willful” of the world’s richest man, but in fact, behind this project, Bezos has very forward-looking business considerations.

When talking about the original intention of founding Blue Origin, Bezos said that many people regard space exploration as a “plan B” for the destruction of the earth. This assumption is not the motivation for his space exploration. On the contrary, he always firmly believed that the earth’s resources are limited. With the continuous development and expansion of the economy and population, one day humans will need to go to outer space to develop more resources and space.

The current human cognition of the origin of blue may lag behind Bezos, just like people’s cognition of the Amazon in 1994. Or perhaps, in the future, the blue origin space business will become Bezos’ next “Amazon”.

Take space travel as an example. If this seems to be an experimental business in the future, if it becomes the norm in the future, the cost of a space trip for each person is expected to be 500,000 U.S. dollars. At that time, Blue Origin will make Bezos earn again. It has to be full.

Ten Thousand Years Clock: Bezos’s Long Term

As we all know, Bezos is a staunch “long-termist”. In order to promote the long-term practice and doctrine, Bezos Expeditions and inventor Danny Hillis together, in a west Texas in the mountains, built a giant “perennial bell” (10000 Year Clock) , which was built for. ” The symbolic sign of long-termism.

The idea of ​​this 10,000-year clock was first proposed by Danny Hillis in 1995. According to his vision, this fully mechanical clock is powered by the thermal cycle of the earth. The second hand moves one grid every year, the hand representing the century moves one grid every 100 years, and the timekeeping tool will tell the time once every millennium.

This idea coincides with Bezos’s “long-termism” concept. Since 2011, Bezos Expeditions has sponsored the construction of the Wannian Clock, and has invested more than 42 million US dollars so far.

According to information released by Bezos Expeditions, the Wannian Clock is nearing completion. Since the entire building is almost entirely hidden in the mountains, it takes a few hours to drive to the nearest airport. It takes quite a few hours for tourists to reach here. They need to hike for several days, pass through huge gears, and finally reach the core of the clock body.

In this way, Bezos hopes to stimulate tourists to think deeply about the “ten thousand years concept” and to think about the impact of what they are doing now on future generations, so that people can have a more long-term vision.

Investment direction of Bezos Family Office

Both the exploration of space and the persistence of long-term doctrine require strong economic strength.

Bezos Expeditions also provides a steady stream of funds for Bezos’ forward-looking exploration through investment.

Bezos is not only a successful businessman, but also an investor with investment vision. As early as 1998, he invested US$25,000 in Google, which was still humble at the time. This investment has brought him more than US$8 billion in return.

After Bezos Expeditions was established, it has also invested in a series of star companies, such as Twitter, Uber, Airbnb, etc., behind which Besos Expeditions has its presence.

Bezos "God": Revealing the Family Office of the World's Richest ManBezos at the age of 18 (Image source: Pinterest)

If we sort out the companies invested by Bezos Expeditions, we will find that its investment mainly focuses on the following areas:

One category is Internet and technology companies. Bezos Expeditions is a very active investment institution in the field of Internet technology. In addition to the aforementioned star companies, it has also invested in social media application Nextdoor, financial technology company Fundbox, African financial technology company Chipper Cash, three-dimensional map software Basecamp, and short-distance truck-hailing services Provider, the first batch of 3D printing company MakerBot for the mass consumer market, etc.

Another category is biotechnology companies. Bezos has invested in a number of biotechnology companies in recent years, most of which are focused on researching cancer treatment options. According to the World Health Organization, cancer is the second leading cause of death in the world, and the demand for cancer treatment is far from being met.

Among the biotech companies invested by Bezos Expeditions, well-known companies include:

  • Participated in a US$76 million round C financing of human proteomics company Nautilus Biotechnology in 2020. This company successfully went public through SPAC in February this year, with a market value of up to US$900 million;
  • In 2020, participated in the initial financing of US$700 million in US cell and gene therapy startup Sana Biotechnology. The company went public in February 2021 and raised another US$600 million;
  • In 2017, Denali Therapeutic, a biotechnology company that treats Parkinson’s and AIDS, invested by Bezos Expeditions, went public.
  • In 2016, Grail, a cancer testing start-up company, received a US$100 million investment from Bezos. The company will apply for listing in the United States in 2020 with a valuation of US$3.2 billion;
  • In addition, Bezos has also invested in Juno therapeutic, an anti-cancer pharmaceutical biotechnology company, and Unity biotechnology, which develops anti-aging drugs.

In addition, the media is one of the few traditional industries that Bezos has invested in.

Since 2013, Bezos acquired the “Washington Post” for US$250 million. He has led two investments in the US financial information website Business Insider. In April 2021, he joined the Canadian rap superstar Drakes and a number of investment institutions. Completed a $80 million round C financing of sports media company Overtime.

When Bezos bought the “Washington Post”, he mentioned two issues he thought about: one is the influence of this media on society; the other is how to use the Internet to change the media operation model. This is the logic behind Bezos’ investment in media.

charitable

Like many super-rich people, Bezos’s family office is also responsible for family philanthropy and public welfare. This mainly includes Bezos Day One Fund and Bezos family foundation (Bezos family foundation) .

“Day One” is the philosophy advocated by Bezos, that is, no matter how much the company achieves, treat every day as the first day.

In 2018, Bezos announced that it would invest US$2 billion to establish the Bezos Day 1 fund. The fund mainly provides support to existing non-profit organizations that help the homeless, and creates a network of non-profit preschools in low-income communities.

The fund is divided into “Day One Family Fund” and “Day One Academic Fund”. The former is for the homeless and the latter is for early childhood education.

The Bezos Family Fund is currently managed by Bezos’ parents. The fund focuses on early childhood education and youth learning. The fund has four major projects to provide children and adolescents with learning resources and tools to stimulate their potential.

If someone has enough resources and determination to stick to it, then that person is Bezos. According to the Bloomberg Billionaires Index, Bezos’ wealth is currently approximately US$211 billion, which gives him enough cushion to pursue his long-term vision.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/bezos-god-revealing-the-family-office-of-the-worlds-richest-man/
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