He announced he’d be stepping down by mid year, and he already made his successor known with reasons best known to him.
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He announced he’d be stepping down by mid year, and he already made his successor known with reasons best known to him.
The news was like a bomb. It took everyone by surprise in the tech and investment world.
Jeff Bezos is leaving after the record year 2020 in terms of sales for Amazon with $386 billion, an increase of +38% compared to 2019!
He leaves the hand to Andy Jassy who has been working with him for 20 years and who has made AWS a huge success. Jeff Bezos will be there to support him, but will now remain in the shadows.
Why not? There is always a time in the life of every CEO when they step down and allow a trusted individual take charge from where they stopped. And it’s not like he’s not on board, he is taking up the role of the chairman. Jeff has achieved every single thing that he set out to do at Amazon. He leaves at a time when he can announce their first $100 Billion quarter. He leaves a 100% success story behind at this point, it might not be as good a story in a year or five years. Like Bill Gates, he recognizes that if he has built such a guaranteed money-making machine and has done such a good job at finding the ideal successor, he’s wasting his time there, and could be doing anything else in the world that he wants without any downside. Jeff Bezos is worth 194 Billion today. Chances are that in 10 years he will be worth more than twice as much, so the majority of his wealth at that point will have been without a single day’s effort at running Amazon.