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Jeff Bezos leaves the post of CEO of Amazon: what he will do

Amazon founder and richest man on the planet Jeff Bezos has made the decision to step down as CEO of his company. According to the billionaire, he will receive a new position that will take away less time and energy from him, which means that it will allow him to engage in other projects. About who will now become the head of the company and what Bezos will do, the publication told Gazeta.Ru.

Photo: Shutterstock

"Great responsibility"

In the second half of 2021, Bezos will step down as CEO of Amazon. This was announced by the billionaire in letter to employees.

“My journey began about 27 years ago. Amazon was just an idea back then and had no name. The question that I heard most often at that time was: "What is the Internet?" Fortunately, I have not had to answer it for a long time, ”writes the founder of the company.

According to Bezos, the position of the CEO is a big responsibility that takes a lot of strength, energy and leaves no time for other projects. After leaving office, Jeff Bezos will take on a new role as chairman of the Amazon board of directors. This will allow him to manage his Day 1 Fund and Bezos Earth Fund, the space company Blue Origin and the Washington Post newspaper.

“I've never felt so energetic and there is no question of retirement. I am confident that these organizations can have a great impact on society, ”says Bezos.

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“Amazon today employs 1,3 million talented, motivated people who serve hundreds of millions of customers; the company itself is one of the most successful in the world. How did it happen? Discoveries. Discoveries are the reason for our success. We did crazy things and then turned them into mundane, ”says Jeff Bezos in a letter.

For almost 30 years of activity, Bezos from an online bookstore has created a powerful IT giant, which includes one of the largest retail sites, the production of gadgets, the provision of Internet services and much more. Amazon's current market value is $ 1,7 trillion. In 2020, the company's profit amounted to $ 386 billion. Bezos's own fortune, which is highly dependent on the value of Amazon shares, is estimated at about $ 194 billion, which makes him the richest person on the planet.

Andy Jassi, the current head of Amazon Web Services, will take over as CEO. Bezos is confident that Jassi will be an "outstanding leader."

Jassi has been with Amazon for 24 years. He is a confidant of Bezos. Under him, Amazon Web Services has become one of the largest divisions of the company, with annual revenues of $ 40 billion. In addition, AWS is the de facto leader in cloud computing, accounting for over 30% of the market.

People who have worked with him describe 53-year-old Jassie as a "nice person" who, however, is very demanding of his employees.

Reasons for resignation

Twitter was filled with versions of why Bezos left the post.

"Jeff Bezos stepped down as CEO to focus on his main hobby - being a supervillain," - said one user.

“Jeff Bezos pulled the Bill Gates trick. He just wants to do nothing and get rich, ”says another commentator.

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"Jeff Bezos is stepping down as CEO to spend more time with his money," said another user.

What's next

Day 1 Fund

Bezos is unique among the five richest people in the world because he is the only one who has not signed the Giving Pledge, a charitable initiative created by Bill Gates and investor Warren Buffett to encourage the world's richest people to donate at least half of their fortune to charity. Guardian.

In 2018, he donated $ 2 billion, just over 1% of his fortune, to the Bezos Day One Fund to help tackle homelessness and improve the education of underprivileged children.

Bezos said his decision to use the foundation to support nonprofit organizations that serve the homeless was inspired by Mary's Place, a Seattle-based organization with a simple motto, "No child sleeps on the street."

However, the foundation has been criticized for slowly increasing donations to good causes. Earlier this year, he named 42 applicants from 24 states who will receive donations totaling $ 106 million.

Blue Origin

While attending high school near Miami, Bezos decided he wanted to go into space when he grew up. But his dream was not to become an astronaut; he wanted to colonize space.

Bezos, 18, said in an interview that he wants to "build space hotels, amusement parks and colonies for 2-3 million people who will be in orbit."

“The whole idea is to save the Earth,” he told the newspaper. - The goal was to evacuate people. The planet will become a park. "

Bezos now owns space company Blue Origin, which aims to make space travel cheaper and a little more affordable with reusable launch vehicles. The company, which uses the motto Gradatim Ferociter, which in Latin means "step by step, but ferocious," is testing a lander to the Blue Moon and hopes to launch its first mission in 2024.

In the race to commercialize space, Bezos competes with Elon Musk's SpaceX.

Bezos Earth Fund

In 2020, Bezos posted a photo of Earth on Instagram and announced the creation of his new Bezos Earth Fund, a $ 10 billion initiative to support scientists, activists and charities working to tackle the climate crisis.

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“Climate change is the biggest threat to our planet,” he said. “I want to work with others to expand on known ways and explore new ways to combat the devastating impact of climate change on our shared planet. This global initiative will fund scientists, activists, non-governmental organizations - any effort that offers a real opportunity to help preserve and protect the natural world. We can save the Earth. The earth is what unites us all. Let's protect her together. "

In November, he announced 16 initial recipients of the fund, which will collectively receive $ 791 million. These include The Nature Conservancy, Natural Resources Defense Council, Environmental Defense Fund, World Resources Institute and WWF, each of which will receive $ 100. million

Bezos said he spent months studying the work of the grant recipients, and said they were all “working on innovative, ambitious and ingenious solutions.” “This is just the beginning,” he remarked.

The Washington Post

Bezos bought the Washington Post, renowned worldwide for its Watergate investigation that led to the resignation of Richard Nixon in 2013, for $ 250 million.

He is credited with introducing the newspaper into the digital age after decades of decline and worry about its future. The Post has figured prominently on Amazon devices like the Kindle.

Reporters and editors, who may have feared Bezos could interfere with editorial decisions, say the billionaire has focused on the tech side of the business and hasn't used it to promote his own agenda.

“I didn't know anything about the newspaper business. But I knew a thing or two about the Internet, ”Bezos said in an interview shortly after he acquired the publication.

Amazon

These 1,3 million employees shouldn't think they last saw their boss. Amazon CFO Brian Olsavsky told reporters, “Jeff really isn't going anywhere. It is rather a restructuring of who does what. "

In the U.S. Jeff Bezos Amazon
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