Bezos’ Parents Backed Amazon With $250,000 Despite Risk of Total Loss
Miguel and Jackie Bezos invested $250,000 in their son's online bookstore in 1995, despite his warning that they faced a 70% chance of losing their money.
Jeff Bezos secured $250,000 from his parents, Miguel and Jackie Bezos, in 1995 to help fund his proposed online bookstore, according to Bitcoin.com News.
The investment came from their savings. Before they committed, Bezos told them the venture carried a 70% probability that their entire investment would be lost.
Their initial stake consisted of 1,430,244 shares priced at approximately 17 cents each. The holding later rose substantially in value as Amazon grew, though the supplied report excerpt does not specify its eventual worth.
Source: Bitcoin.com News
