Jeff Bezos Steps Down As Amazon CEO
Jeff Bezos has stepped down as the chief executive of Amazon 27 years after he founded the company.
The American billionaire, 57, Amazon’s biggest shareholder with a stake worth about $180 billion, is being replaced by Andy Jassy, the mastermind behind Amazon’s cloud computing division.
Earlier this year, Mr. Bezos announced his decision to step down in order to be able to focus on initiatives such as his plans for private space travel.
According to Bloomberg Billionaires Index, Bezos’ net worth stands at $203 billion, while Amazon’s market value is $1.77 trillion, making it one of the most valuable companies in the world.
The billionaire says he will devote his time to Blue Origin, his private spaceflight company, scheduled to launch next month, The Washington Post, the newspaper he owns, Day One Fund, and Bezos Earth Fund foundations.
Russ Mould, investment director at AJ Bell, said; “The fact he is stepping down as chief executive of Amazon doesn’t mean he is disappearing; far from it as he is becoming executive chairman”.
