Why Did Jeff Bezos Step Down And Who is The New CEO of Amazon?
Amazon billionaire founder Jeff Bezos has stepped down as CEO of Amazon to focus on other projects and now worth more than $10 billion dollars.
As per The Sydney Morning Herald, Bezo has now retired so he can focus on other projects. For example, overseeing the Washington Post, which he owns, and his space research company Blue Origin. You know, multi-million dollar stuff.
However, Bezos did not completely quit the company he founded. He now takes the lead.
Also Read: Jeff Bezos Becomes The First Richest Man in Modern History Worth $211 Billion
Andy Jassy, who has worked for Amazon since the late 1990s, is now the new CEO.
Jassy was previously a senior executive at Amazon Web Services.
SMH said Jassy will receive $200 million ($265.6 million) in additional shares to be paid to the new CEO over 10 years.
Meanwhile, Bezos is leaving his post with an estimated net worth of $201.8 billion. ($267.37 billion)
As per Forbes, Bezos still owns 10.3% of Amazon’s shares.
Also Read: Amazon CEO Jeff Bezos to Become Blue Origin’s First Space Passenger the Next Month
Amazon tripled its revenue during COVID-19, with Bezos earning more in an hour than most people in their lifetime.
