Leaving Troubles On Amazon, Jeff Bezos Chooses To Retire While Still Glorious

Jeff Bezos, with film actor Dwayne Johnson (photo: instagram)

JAKARTA - Jeff Bezos will officially retire on Monday, July 5. The richest people in the world will enjoy a pension of 197 billion US dollars (about Rp. 285 trillion).

He intends to retire on a special day. On July 5, 1994, Bezos launched Amazon as an online bookstore. He will now retire on the company's 27th anniversary, on the same date.

The fortunes of the company and Bezos have continued to improve drastically over the years. This is also evidenced by the fact that Bezos wants to go into space a few days after he retires.

Even Amazon had a very profitable year in 2020 as people are now turning to online retailers during the COVID-19 pandemic. As a result, this condition made Besoz's wealth skyrocket and grow to more than 75 billion US dollars (approximately Rp108 trillion).

In terms of wealth, Bezos will retire with twice the money of the entire British royal family, which owned about $88 billion in 2017.

Insider even reports that his net worth is 739,489 times the average American's net worth at age 65. Plus, the 57-year-old billionaire will have more money than some countries' GDP when he steps down from Amazon.

Andy Jassy, the current CEO of Amazon Web Services, will take over from Bezos as CEO across the company. It will inherit some of the challenges that Amazon currently has.

Most notable is the number of employees at Amazon who reportedly have to live on food stamps. In fact, they work in poor conditions while the company as a whole makes a profit. This has led to demands for a radical change within the retail company.

Andy Jassy who is now listed as CEO of the company, having previously run Amazon Web Services since 2003. At that time Bezos was listed as Executive Chair.

Under Bezos' leadership, the company survived the dot-com boom of the late '90s to become one of the most prominent technology companies in the world. Amazon currently dominates online commerce in the US and parts of Europe and serves as the backbone of much of the modern web thanks to Amazon Web Services.

Bezos' successor, Andy Jassy, joined the company shortly after graduating from Harvard Business School in 1997. He has led AWS since the team was founded in 2003. He was also officially appointed CEO of the division in 2016.

According to Synergy Research, by the end of 2020, AWS controlled about a third of the total cloud computing market, which is roughly equivalent to the merger of Microsoft and Google, its two closest competitors. Jassy is similar to current Microsoft CEO Satya Nadella, who previously ran the company's Azure cloud business.