Jeff Bezos is all set to begin a new chapter of his life, away from the company that made him the world’s richest man.
Exactly 27 years ago today, Bezos had founded Amazon on July 5, 1994. From a bookstore based out of a garage where Bezos used to pack and deliver packages to the post office himself, Amazon grew steadily to become one of the world’s most valuable brands with a market worth of more than $1.7 trillion.
Today, Amazon is not just an e-commerce behemoth, Bezos diversified his business interests over the years into areas like artificial intelligence, cloud computing, digital streaming platform, and smart home products like Alexa.
Amazon Web Services (AWS), its enterprise arm, is the world leader in the software services industry. The man behind AWS’s success and Jeff Bezos’ long-term deputy, Andy Jassy will be taking over as the new CEO of Amazon.
What’s next for Jeff Bezos?
57-year old Bezos will not be involved in the day-to-day operations of the company moving on. However, he isn’t giving up his entire drawer of responsibilities. Bezos will stay on as the executive chair of Amazon and will reportedly be a big part of the company’s new products and initiatives.
Away from Amazon, Bezos will invest his time in other interests – namely space company Blue Origin and the prestigious newspaper The Washington Post, that he bought in 2013.
Jeff Bezos’ wealth
On the day that Bezos steps down from the role that made him ultra-rich, his net worth stands at $201.8 billion. In 1998 he entered the list of richest Americans for the first time. Since 2019, his wealth has grown more than 70 percent.
His earnings from Amazon make up for more than 90 percent of Bezos’ net worth.
What’s next for Amazon?
Andy Jassy is one of the oldest employees at Amazon. He has been called a true disciple of Bezos. He is also the former Amazon CEO’s early prodigy.
Traits that Jassy is known for our frugality, perseverance, and humility. In fact, Bezos had once called Jassy “one of our most high potential people” in the early days of Amazon when proposed by the marketing team in 1997 to be laid off.
In fact, Jassy’s profile for a year and a half just after the dot-com bust of 2002 was to be a shadow of Bezos, where he was mentored by the man himself. Jassy was promoted to AWS CEO in 2016. Another well-known trait of Jassy inside Amazon is the ability to sit through never-ending meetings.
With Bezos set to try and achieve his dream of flying to space in near future, the 53-year-old Jassy will be the foremost figure in paving Amazon’s strategy on the ground moving forward. With Jassy’s approach mirrors that of Bezos’, clients and customers can exact a hurdle-free transition phase with no significant shift in the business dynamics.