Jeff Bezos is an American businessman and the founder of Amazon. He has stepped down as the CEO of the company as he aims to focus on other products.
Andy Jassy will step up to replace him in the role while Jeff will become the Executive Chair.
In a letter sent to staff, Jeff said: “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO.
“In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives.
“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.”
The move will allow him more time to focus on the Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post and the Amazon Day 1 Fund.
The statement added: “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. 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.
“I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have.”
Jeff Bezos net worth
The tech giant has a staggering sum of money in the bank, with Celebrity Net Worth valuing him at $188billion, or around £137billion.
He was also the ever be worth $200billion dollars, Forbes reported in 2020.
As the website has expanded, Amazon has become the largest online sales company.
Jeff has been the richest man in the world in the past.
In 2013, he purchased The Washington Post in a deal worth $250million, or around £180million.
He has also built his fortune with investments in various other fields.