Jeff Bezos is the richest man in modern history, are you listening people?
This fascinating news comes right after the e commerce giant Amazon’s stock price surged after its Prime Day sale. According to the Bloomberg Billionaires Index, Amazon.com Inc., founder’s net worth crossed $ 150 billion in New York, recently. Jeff Bezos who is 54 years old, surpassed Bill Gates in inflation adjusted terms. The $ 100 billion mark that Gates hit briefly in 1999 at the peak of the dot com boom in the US, would be now worth about $ 149 billion in today’s currency rate. Henceforth, making the Amazon chief executive officer richer than anyone else on earth since, how cool is that! The American CEO amassed more wealth than anyone, since 1982. That was the year in which Forbes started publishing its top 20 billionaires of 1982 list. Currently, the tech giant Microsoft’s founder Bill Gates stands second in the list followed by Warren Buffet, Bernard Arnault, Mark Zuckerberg and other executives. Bezos’ net worth has soared by $ 52 billion this year, which is more than the entire fortune of Mukesh Ambani, the newly crowned richest person in Asia. It also climbs Bezos’ personal fortune within spitting distance of the Walton family’s $ 151.5 billion. The Waltons are the world’s richest dynasty.
Amazon was founded by Bezos in the year 1994 as an online book store. Later it went ahead to expand its operations to sell a variety of products. Bezos first appeared on the Forbes 400 list of America’s richest people in 1998, with a net worth of $ 1.6 billion, a year after Amazon made its debut in the public market. After years of struggle and hard work, this e commerce giant announced its 304 million active member accounts toward the end of 2015. Moving on, Amazon’s stock soared by 60 % and its market values more than $ 890 billion.
Apart from Amazon, Jeff Bezos owns the American newspaper company Washington Post and the aerospace manufacturer Blue Origin.
Carl Pei’s Nothing Invites Retail Investors
Carl Pei said the time came for him to leave OnePlus and focus on other interests, following which he resigned from OnePlus in October 2020. Since then, Pei had been working on his new startup in the audio hardware sector. Carl Pei unveiled the name of his startup which is now called as Nothing, on January 27th, 2021. Since the unveiling of Nothing, Pei’s startup has attracted a lot of attention from Silicon Valley and venture capitalists.
Carl Pei now seems to be emulating his success formula at OnePlus with his new startup Nothing. OnePlus is highly customer centric, because as a company they take in inputs from their consumers and adapt them to their products. Pei seems to be using the same strategy with Nothing, as he invited retail investors to invest in his new startup. Normally a startup raises Series A funding to begin product development and then goes on to Series B and so on. For a normal retail investor to invest in a stock, they could only do it at the time of an Initial Public Offering (IPO) at the time of which the company would be valued highly. However, Carl Pei is letting in investors from the beginning.
Usually the community has to wait for an IPO to invest, but by that time, the valuation is already high. We are inviting you to own Nothing from the very beginning, at the same price as our Series A, and be on board for the entire ride.🚀 https://t.co/mnQtoiJwOV
— Carl Pei (@getpeid) February 16, 2021
This lets the investors be a part of the product development process and makes Nothing more personalised. Moreover the investors would also act as promoters for the products. Currently, there are $ 1.5 million worth of shares available. Users can invest a minimum of € 50 and a maximum of € 20,000. However, the demand to invest is off the charts and was unexpected as Carl Pei confirmed there was an interest worth of $ 10 million from 8,700 users.
WOW we have just reached $10m USD of registered interest in just 7 hours from over 8,700 people! So grateful for the amazing community behind @nothing ! 🥰🥰
— Carl Pei (@getpeid) February 16, 2021
Nothing’s first wireless earphones will be unveiled in the summer of 2021. Nothing aims to build an ecosystem of listening devices which talk to each other. Initial investors of Nothing include the likes of Tony Fadell (Principal at Future Shape and the Inventor of the iPod,) Casey Neistat (YouTuber,) Kevin Lin (Co founder of Twitch,) Steve Huffman (CEO of Reddit,) Liam Casey (Founder and CEO, PCH,) Paddy Cosgrave (Founder of Web Summit,) Kunal Shah (CEO of CRED) and Josh Buckley (CEO of Product Hunt.) Alphabet’s investment arm Google Ventures was the latest investor in Nothing as they invested $ 15 million.
Startup India Seed Fund To Be Disbursed From April 1st
There is no doubt India has a strong foothold in the startup ecosystem. India currently ranks third in the world for the number of startups, next only to the United States of America and China. This was possible due to the Indian Government’s initiatives to develop the startup ecosystem and also due to a strong presence of unicorn startups like PayTM, Zomato, Unacademy and many more.
The Government of India announced it would begin to disburse INR 945 crores seed capital from April 1st, 2021 under the Startup India Seed Fund Scheme in a bid to boost the startup ecosystem in India. These funds would be distributed through select incubator partners all over the country. This scheme will be implemented by the Department for Promotion of Industry and Internal Trade (DPIIT.)
In a gazette notification, DPIIT announced that Startup India Seed Fund Scheme will provide financial assistance to startups that have been recognised by the DPIIT and incorporated not more than two years ago at the time of application.
— Anil Agrawal (@anilarch) January 29, 2021
The Startup India Seed Fund Scheme will have a common central application on the Startup India portal for startups on an ongoing basis. An Experts Advisory Committee (EAC) will be formulated to oversee and monitor the overall execution of the scheme. The EAC will evaluate and select the incubators for allotment of the seed funds and place measures for the efficient disbursement of funds.
The government also mentioned preference will be given to startups working in the areas of agriculture, education, food processing, healthcare, social impact, waste management, water management, financial inclusion, biotechnology, energy, mobility, defence, space, railways, textiles and oil and gas.
CRED’s Kunal Shah Invests In One Plus Founder Carl Pei’s Startup
Carl Pei is one of the most well known names in the startup circles considering he gave the world one its best smartphone brands OnePlus. Since the debut of OnePlus One. The smartphone maker earned the moniker ‘flagship killer’ and has grown in leaps and bounds. Today OnePlus boasts on an impressive product line up apart from its smartphones and is one of the leading electronic brands in the world. In October 2020, Carl Pei said the time came for him to leave OnePlus and focus on other interests. Since then, Pei had been working on his new startup in the audio hardware sector.
— Carl Pei (@getpeid) October 16, 2020
The name of Carl Pei’s new startup will be unveiled on January 27th, 2021 but in the past three months the unnamed startup received almost $ 7 million in seed funding. The investors include Tony Fadell (Principal at Future Shape & Inventor of the iPod,) Casey Neistat (YouTuber,) Kevin Lin (Co-founder of Twitch,) Steve Huffman (CEO of Reddit,) Liam Casey (Founder and CEO, PCH,) Paddy Cosgrave (Founder of Web Summit) and Josh Buckley (CEO of Product Hunt.)
The latest to invest in Carl Pei’s startup is Indian based CRED founder Kunal Shah who invested an undisclosed amount. Shah is not new to being an angel investor as he already has a portfolio of investing in almost 80 startups. “Carl is working on a new consumer electronics company that I am sure will be a disruptor in the tech industry. I am excited to be part of this journey (sic,)” the CRED founder said in a statement.
While Pei’s startup is headquartered in London, more details will be known on January 27th, 2021.
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