Forty investors said no

In nineteen ninety five, Jeff Bezos approached sixty investors seeking fifty thousand dollar minimum investments to reach one million dollars in funding. Only twenty two agreed, rejecting his online bookseller idea.

His parents stepped in

Jacklyn Gise Bezos and Miguel Mike Bezos invested two hundred forty five thousand five hundred seventy three dollars from their retirement savings in their son's company, representing a large fraction of their life savings.

Bezos warned them of the risk

Before accepting the money, Bezos told his parents the venture was risky and he estimated only a thirty percent chance of success. He did not want them angry if Amazon failed.

“I want you to know how risky this is. Because I want to come home at dinner for Thanksgiving and I don't want you to be mad at me.”

They bet on their son, not the idea

Mike Bezos said he and his wife were not betting on the company or the concept. They were betting on their son. Mike joked his first question was what is the internet.

“He was making a bet on his son, as was my mother.”

Amazon exploded from day one

After opening in nineteen ninety five, Amazon immediately received orders from all fifty states and forty five countries. The company grew from ten employees to more than six hundred by nineteen ninety seven.

The investment became worth billions

Amazon went public in nineteen ninety seven at eighteen dollars per share. If Mike Bezos retained their original one point four million shares, they would be worth an estimated fifty one point seven billion dollars today.

The family turned wealth to philanthropy

In two thousand, Mike and Jackie founded the Bezos Family Foundation with their three children and spouses. The foundation has focused largely on education and child development, funding research and programs for young people.

“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. The rest is history.”