Amazon founder Jeff Bezos will be stepping down from the company’s CEO position later this year. Learn five facts about the billionaire and what he’ll be doing next.
Decades after founding Amazon.com in his garage in 1994, 57-year-old Jeff Bezos has made the decision to step down as the company’s Chief Executive Officer later this year, according to CNBC. The billionaire announced on February 2, 2021 that he will transition later this year to the role as executive officer of Amazon‘s board. Over the course of mere decades, Jeff has transformed the online retailer from an outlet selling books to a worldwide phenomenon, selling and shipping products across the globe. As Jeff prepares for this professional transition, learn more about the billionaire with the five facts below.
How Did Jeff Bezos Get His Start?
Jeff worked for several high-paying hedge funds before quitting and developing a business model for Amazon in 1994 as worldwide web use began to explode. He also knew it could be profitable as the Supreme Court decided to exempt mail order businesses from collecting taxes in states where they didn’t have a physical shop or plant. Little did the court know that would go on to make Jeff’s business incredibly popular with online consumers.
Who Is Replacing Jeff Bezos As Amazon CEO?
Jeff revealed in his letter to his “fellow Amazonians” that Amazon’s top cloud executive, Andy Jassy, would replace him during the business year’s third quarter. “Fellow Amazonians,” he began his letter, per a statement provided to CNBC. “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO.” Jeff added that Andy “is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.”
What Will Jeff Bezos Do After Being CEO?
Jeff further outlined his future plans in his letter. “In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives,” he wrote. He also added that he’s “excited” about his new role in the company. “As much as I still tap dance into the office, I’m excited about this transition. Millions of customers depend on us for our services, and more than a million employees depend on us for their livelihoods.”
Jeff also outlined that “being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else. As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”
Is Jeff Bezos Married?
Jeff Bezos met novelist Mackenzie Scott (née Tuttle) in 1992 and married her one year later in 1993. Over the course of their marriage, the couple welcomed three biological children and adopted a child, as well. After more than 20 years of marriage, Jeff announced in January 2019 that the two had decided to divorce after a “long period” apart from one another. Jeff has been in a relationship with reporter Lauren Sánchez since their respective divorces.
Does Jeff Bezos Give To Charity?
Jeff has faced some criticism in the past for his lack of philanthropy, although he has made notable donations to causes throughout his career. One year ago, in February 2020, the former Amazon CEO announced the Bezos Earth Fund, with a mission to reverse the effects of climate change. “This global initiative will fund scientists, activists, NGOs — any effort that offers a real possibility to help preserve and protect the natural world,” he wrote in the Instagram announcement. “I’m committing $10 billion to start and will begin issuing grants this summer. Earth is the one thing we all have in common — let’s protect it, together.”