A 12,000,000% Return
Sometimes investing in your child is a smart move.
Many parents are confronted with the task of having to fund a child's dreams. Often, this is nothing more than a money pit.
At times, however, it does work out.
Sometimes, dropping almost $250,000 can pay off.
Back in the 1990s, the parents of Jeff Bezos were confronted with the same dilemma many parents are. Do you invest in your child's venture or pass it up? Even Bezos himself knew it was risky and alerted his parents of that. They went ahead with the investment, forking over $245,573.
Anyone who was an early investor in Amazon can tell you what the results were. For many parents and children in this situation, family gatherings can be an odd affair if the business goes south. It is safe to say that Jeff Bezos isn't going to skip a holiday gathering out of shame.
Nobody knows if his step-father and mother kept their entire investment. There were some shares which were moved to charity. The shares that are known to move are deducted from the orginal investment. This leaves Bezos parents with a 16.6 million shares of the e-commerce giant.
In other words, their $250,000 invenstment might be worth a cool $30 billion 23 years later.
That amounts to a 12,000,000% return.
Bloomberg did a study to see where the Bezos would fall depending upon if they did sell there stake at different times. Their holdings are not made public so it is really just a guess what is still help by them.
Even if they sold all their stock at the low, they would have cleared $100 million.
Jeff's own siblings do not have to wait for their the money to be passed down. Jackie and Mike Bezos invested $10,000 in 1996 to get 30,000 shares of Amazon. Those two now have $640 million apiece.
So how do you get started funding a venture like this?
“We were fortunate enough that we have lived overseas and we have saved a few pennies so we were able to be an angel investor,” Mike Bezos, a Cuban immigrant who also goes by Miguel, said in Philadelphia. “The rest is history.”
The $30 billion still trails their son's holding by a wide margin. Jeff Bezos worth in Amazon just crossed over $150 billion, making him the richest person in the world.
Of course, Jeff has to show up to work everyday for his largess.
To read further about this topic:
You got a 39.81% Upvote and Resteem from @ebargains, as well as upvotes from our curation trail followers!
If you are looking to earn a passive no hassle return on your Steem Power, delegate your SP to @ebargains by clicking on one of the ready to delegate links:
50SP | 100SP | 250SP | 500SP | 1000SP | 5000SP | Custom Amount
You will earn 90% of the voting service's earnings based on your delegated SP's prorated share of the service's SP pool daily! That is up to 38.5% APR! You can also undelegate at anytime.
We are also a very profitable curation trail leader on https://steemauto.com/. Follow @ebargains today and earn more on curation rewards!
Jeff bezos' success story does it all for me.
Cool story. Never know that. Thanks.
You got a 46.20% upvote from @bid4joy courtesy of @steemium!
Amazing return! Good choice on their part.
This is one of the things saddens me, my parent's would never do this for me, they would never support me in doing something like this because they only see value in a normal job, like being a doctor or being an accountant, being an entrepreneur to them is not something i could ever do or achieve... oh well, i can still do it on my free time, not having the support of the family makes it harder not impossible!
Does Jeff have a biography book of some sort? I would love to read about his life!
Still... did he have a stroke or something? His right eyes looks a little"numb"
You got a 41.80% upvote from @emperorofnaps courtesy of @steemium!
Want to promote your posts too? Send 0.05+ SBD or STEEM to @emperorofnaps to receive a share of a full upvote every 2.4 hours...Then go relax and take a nap!
You got a 37.84% upvote from @redlambo courtesy of @steemium! Make sure to use tag #redlambo to be considered for the curation post!
Great post!
Thanks for tasting the eden!
Nice post ! You got 38.75% upvote from @flymehigh. Earn free sbd/steem daily by delegating(renting) your SP. We share high return, click here to delegate your sp to flymehigh if you don't know, how to earn passive income by delegating your SP click here for more info Join our discord You can promote your posts. Thanks.