Amazon CEO Jeff Bezos’s reign is ending this Monday. Bezos is stepping down as not just the CEO of the company but also as the world’s richest person. With an estimate of about $197 billion at hand, he’s one of the richest retirees in the world.
Jeff Bezos to step down as Amazon CEO
Bezos is retiring at the age of 57, exactly 27 years after the start of the company! According to the reports from Bloomberg’s Billionaire’s Index, the CEO is retiring with a hefty sum of $197 billion. His fortune is a result of Amazon holdings along with other assets. Last year alone Bezos received a salary of $81,840 along with a compensation of $1.6 million. Additionally, his wealth expanded in 2020 as the pandemic drove sales. Bezos’ net worth increased by $75 billion in the past year. This has drawn a lot of criticism since his wallet thickened while Amazon’s warehouse workers worked in poor conditions and lost jobs.
What after the CEO’s retirement?
The soon-to-be ex-CEO’s fortune is 739,489 times the median net worth of the average American at the age of retirement. The number is backed by the US Census Bureau. As per the reports from the Federal Reserve, the average American at the age of 65 has a net worth of $266,400. After all, the billionaire makes twice the money every second compared to what an average American worker makes in a week. He is also reported to be two times richer than the British monarch itself.
Andy Jassy, the present CEO of Amazon Web Services will be succeeding Bezos as the CEO of Amazon. His plans for the future are unknown. However, the CEO, his brother, and a mystery raffle winner will be going to space in the Blue origin flight very soon.