In February 2021, Amazon founder Jeff Bezos announced that he would step down as CEO of the e-commerce giant. While he plans to stay on as an executive chairman, Bezos hopes to focus on other passions in the future.
Bezos has said the step back has nothing to do with retirement. In fact, the billionaire plans to continue working on new products for Amazon and gave detailed plans for a future as Earth’s Best Employer and Earth’s Safest Place to Work in the final shareholder letter released as the change was implemented.
Despite complaints of employee standards in the past, Bezos believes those complaints can be rectified, and passing the baton can only help improve the future of the company he loves. He told shareholders he’s still going strong and has many ideas in many different areas he hopes to pursue at Amazon and other initiatives.
As one of the world’s richest people with a net worth of $199 billion, many are curious as to what will come next for the 54-year old.
Focusing On Non-Profit Ventures
A post shared by Jeff Bezos (@jeffbezos)
‘Day One’ is a phrase used by Bezos over the years as a term to inspire employees to treat each day in a successful business as the first day of the business launch. He used this phrase to launch his non-profit, helping others move their lives in a positive direction.
Bezos established The Day One Fund in 2018 in an effort to support underserved children with full scholarships to preschool. Schools will be run based on Montessori principles: child-centered, flexible curriculum, less focus on testing, and more on individual passions.
The non-profit also provides funding to those that support homeless families.
In 2020, The Day One Fund granted leadership awards for the third year in a row to 42 recipients in 24 states in the amount of $105.9 million to continue their work helping within their communities.
Just last year, Bezos created the Bezos Earth Fund with a $10 billion pledge to protect the environment. According to Forbes, the non-profit has issued funds to scientists and activists to combat global warming and other climate change concerns.
Led by President and CEO Dr. Andrew Steer, the Bezos Earth Fund has already issued the first group of grants totaling $791 million, according to CNBC. Those recipients include the Nature Conservancy, Natural Resources Defense Council, and World Wildlife Fund.
RELATED: Lessons From The Amazon: The Best Jeff Bezos Tips For Success
Out Of This World Plans
A post shared by Jeff Bezos (@jeffbezos)
Through Bezos’ company Blue Origin LLC, he and three additional passengers (including his brother Mark) recently took a flight to the edge of space aboard a New Shepard spacecraft developed by Blue Origin.
The trip took approximately 10 minutes, and passengers were able to experience the weightlessness of space flight. After the initial flight, Bezos announced Blue Origin has nearly $100 million in private sales for future space flights. According to Money Control, the space company was built on a young dream Bezos shared in 1982, where he imagined building space hotels, amusement parks, and colonies for 2-3 million people in orbit.
Even then, discussions surrounding the environmental impact the Earth was experiencing led to questions about space and livable conditions. The ever-creating inventor wanted a way to preserve Earth in the event the planet was no longer inhabitable.
Bezos is hoping to develop rockets for commercial space tourism and has described a long-term goal of taking people on trips to the moon.
Valuing Media
A post shared by Jeff Bezos (@jeffbezos)
He purchased The Washington Post back in 2013 for $250 million with a goal of expanding its reach and developing a go-to digital presence. As the media knowingly struggles against newspaper survival and the digital age ultimately taking over, the partnership between Amazon’s Kindle and The Washington Post has been beneficial on both sides.
His understanding and knowledge of the internet have brought the Post’s speed from 4 to 0.8 seconds, improved the design of website and apps, and in 2015, the Post broke records month after month, surpassing The New York Times.
The global business leader also brings product and revenue strategy to the table, helping to increase the survival rates of print and online news entities.
It’s not just print, and online media Bezos is interested in, however. Amazon Studios recently bought MGM for $8.5 billion, and Bezos has discussed new movie deals with stars like Dwayne’ The Rock’ Johnson and saving other popular shows through Amazon’s Prime streaming service. The studio was behind 2016’s Academy Award Winner Manchester by the Sea, among others.
According to CBR, the MGM buy-out handed over a catalog of 4,000 films and 17,000 television shows, including award-winning shows like Fargo, The Handmaid’s Tale, and Vikings.
Despite stepping down from CEO of Amazon, Bezos shows no signs of slowing down. It leaves many curious as to the wealthy man’s next move. One thing is for sure that it’s bound to be newsworthy.
READ NEXT: Teen Who Went Into Space With Jeff Bezos Says He’s Never Ordered From Amazon
Source: Forbes, CNBC, Money Control, CBR
Source: Read Full Article
