Amazon Founder Jeff Bezos Stepping Down As CEO; Andy Jassy Will Take His Position

by Shatakshi Gupta

Amazon founder and CEO Jeff Bezos will step down as CEO of the Amazon on Monday. He will be replaced by Andy Jassy as the new CEO. Jassy is currently working as the head of Amazon’s web services. However, 57-year-old Bezos will continue to play an important role in the organization as its working president. He will not be part of Daily Management and will spend more time working on other projects, including his aerospace company Blue Origin.

His journey started from a garage

 Bezos started Amazon 27 years ago as an online bookstore in a garage, at then he himself used to pack orders and deliver them. After hard work, slowly and steadily, he took the organization to new heights and expanded his business in many other areas including e-commerce, artificial intelligence, cloud computing, digital streaming. Amazon has now a market value of over $1.7 trillion.

The richest man on the earth

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 Jeff Bezos has a net worth of around $200 billion, even after a divorce settlement with ex-wife MacKenzie Scott. However, he also gave a part of his share to his wife. Despite this, his net worth is about $200 billion. He is currently the world richest man followed by Bernard Arnault and Elon Musk.

 According to Forbes magazine, his wealth has increased by $196 billion since 1998, when Jeff Bezos was first listed on the magazine’s list of the richest Americans.

What are his future plans?

Bezos will continue to be the chairman of the executive board. That is, he is stepping down from the post of CEO, but is not taking retirement. In particular, his focus is on his dream projects such as Blue Origin Space Company, The Day 1 and Earth Fund as well as the Washington Post.

Albeit, this tycoon of the industry has left his CEO position to Andy Jessy, his social media posts show that he will not be devoid of plans even after retirement.

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 Bezos, the world’s richest man  Will now utilise his money and mind forbetterment of the lives of the needy, his philanthropic organization Bezos Day One Fund works to build infrastructure for the homeless and education. Besides, he will focus on the Bezos Earth Fund, which works for the environment, which is currently worth $ 10 billion. This organization helps scientists, social workers and other people who are working for the environment.

 Bezos, on the other hand, also wants to channel his attention and energy into the media house, the Washington Post. According to the Guardian, Bezos bought it in 2013 for $250 million. The founders of Amazon brought it to Amazon’s devices such as Kindle, after which its fame grew significantly.

Jeff Bezos will join Blue Origin’s New Shepard in its first space flight this month. On July 20, he will travel aboard Blue Origin’s New Shepard spacecraft. The flight will include his brother and the man who won the ongoing auction for space travel.