AMAZON CEO Jeff Bezos has officially stepped down from his role with the company.

Bezos is handing the reins to Andy Jassy, who previously ran Amazon’s cloud-computing business.

Earlier this year, Bezos said he planned to focus on new products and early initiatives being developed at Amazon.

He said he would have more time for side projects, including his space exploration company Blue Origin, his philanthropic initiatives, and overseeing The Washington Post, which he owns.

Bezos, who is the company’s biggest shareholder, will still have broad influence over Amazon.

The move comes ahead of his trip to space on Blue Origin's launch on July 20.

Read our Jeff Bezos live blog for all the latest news and updates…

 

  • Cybele Mayes-Osterman

    BEZOS IS STILL RICHEST MAN IN THE WORLD

    Amazon has continued to thrive during the ongoing coronavirus pandemic, and Bezos remains the richest person in the world.

    His wealth has grown steadily despite his payout to his wife during his highly-publicized 2019 divorce.

    He launched Amazon from his garage in 1994.

    At one point he pocketed $13billion in just 17 minutes.

  • Cybele Mayes-Osterman

    RICHARD BRANSON PLANNING TO BEAT BEZOS TO SPACE

    Bezos announced earlier this month that he and his brother would be heading to space on July 20 on Blue Origin's New Shepherd spacecraft.

    If all goes according to plan, Branson will have him beat by just over a week.

    "After more than 16 years of research, engineering, and testing, Virgin Galactic stands at the vanguard of a new commercial space industry, which is set to open space to humankind and change the world for good,” Branson said in a statement.

    "I’m honoured to help validate the journey our future astronauts will undertake and ensure we deliver the unique customer experience people expect from Virgin."

  • Cybele Mayes-Osterman

    PETITION TO STOP BEZOS FROM RETURNING TO EARTH TAKES OFF

    More than 11,000 people have signed a petition not to let Jeff Bezos reenter the Earth's atmosphere after his upcoming space flight on July 20.

    "Jeff Bezos is actually Lex Luthor, disguised as the supposed owner of a super successful online retail store," reads the satirical Change.org petition.

    "However, he's actually an evil overlord hellbent on global domination. We've known this for years. Jeff has worked with the Epsteins and the Knights Templar, as well as the Free Masons to gain control over the whole world," it continues.

    "He's also in bed with the flat earth deniers; it's the only way they'll allow him to leave the atmosphere," it goes on. "Meanwhile our government stands by and lets it happen."

  • Cybele Mayes-Osterman

    25 WEALTHIEST AMERICANS PAID TINY TAX RATE

    From 2014 to 2018, the 25 wealthiest Americans paid an average of 15.8 percent in personal federal income taxes.

    Amazon's Bezos ended up paying around .98 percent of his income during the same time period and Bloomberg, who controls Bloomberg L.P., paid around 1.3 percent, according to the outlet.

    The data, obtained by ProPublica, showed that the nation's richest people paid just $13.6billion in federal income taxes on $401billion of wealth.

  • Cybele Mayes-Osterman

    WHAT IS BLUE ORIGIN?

    Blue Origin is an American privately-funded aerospace manufacturer and sub-orbital spaceflight services founded by Jeff Bezos.

    The businessman founded the company in 2000, with Bob Smith serving as the CEO.

    The company is headquartered in Kent, Washington and employs over 3,500 people.

    Blue Origin aims to make access to space cheaper and more reliable through reusable launch vehicles.

  • Cybele Mayes-Osterman

    BEZOS ANNOUNCES MOVIE DEAL

    Bezos recently posed up for a picture with Dwayne "The Rock" Johnson after announcing a movie deal for Amazon Studios.

    Standing by the seashore, the celebrity wrestler and film star put his arm around Bezos, who was seen smiling in sunglasses.

    The Rock said it was time to "bust out the tequila."

  • Cybele Mayes-Osterman

    BEZOS SET TO BLAST OFF ON BLUE ORIGIN ROCKET

    A look at Bezos' recent Instagram activity shows he has plenty of other interests to occupy his time after retiring as CEO.

    In 15 days' time, Bezos is set to blast himself into space for Blue Origin's first flight. Accompanying him on the trip will be his brother, Mark.

    Images of the pair teasing their jaunt are splashed across his page.

  • Cybele Mayes-Osterman

    AMAZON UNIONIZATION VOTE FAILED

    The highly publicized election for in Bessemer, Alabama saw workers at the Amazon warehouse decide not to join Retail, Wholesale and Department Store Union.

    The vote was held for the nearly 6,000 workers of the warehouse in February and March of this year.

    The Union later raised questions about the validity of the vote after it was revealed the mailbox that received workers' ballots was under constant Amazon surveillance.

  • Cybele Mayes-Osterman

    BEZOS' SHOCKING SALARY REVEALED

    Bezos will retire from his position at Amazon today, taking with him a staggering $197billion.

    That number is 739,489 times greater than the average 65-year-old American's net worth of $266,400, Business Insider reported.

    Bezos announced plans to step down from the role in February of this year.

  • Cybele Mayes-Osterman

    BERNIE SANDERS TAKES JAB AT BEZOS FORTUNE

    Progressive Senator Bernie Sanders took aim at Bezos staggering income after the billionaire announced plans to step down from his CEO position.

    "Jeff Bezos makes some $2,537 every second of the day," the Vermont Senator tweeted.

    "Got that? That means Jeff Bezos — the richest guy on the face of planet — makes nearly 3x more in one second than the median worker in this country makes in an entire week. That is morally obscene."

     

  • Cybele Mayes-Osterman

    WHAT WILL BEZOS DO AFTER STEPPING DOWN?

    Amazon announced in February that Bezos' 27-year reign as CEO would be coming to an end. He will instead take on the role of executive chairman of the e-commerce giant's board.

    He told investors in an April letter that he will be focusing on making Amazon a better place to work. That followed employee frustration that surfaced during a failed unionization campaign in Alabama.

    Bezos is also expected to dedicate more time to other pursuits such as the Bezos Earth Fund, his Blue Origin spaceship company, the Washington Post, and the Amazon Day 1 fund, CNBC reported.

  • Cybele Mayes-Osterman

    HOW MUCH DID BEZOS MAKE DURING THE PANDEMIC?

    Jeff Bezos made an estimated $80billion during the Pandemic, AJ+ reports.

    The Pandemic saw Bezos and Amazon face controversy, as Amazon cut hazard pay for its workers after just 3 months.

    Bezos made a shocking $75billion during 2020 alone, a number that many Twitter users are contrasting with the median Amazon employee's yearly income of $29,007.

  • Cybele Mayes-Osterman

    BOMSHELL ARTICLE REVEALS BEZOS PAYS NO TAXES

    Billionaire Jeff Bezos, who steps down from his role as Amazon CEO today, paid no taxes in 2007, a bombshell article by Propublica reported last month.

    From 2014 to 2018, Bezos paid a tax rate of .98percent, and in 2007, the billionaire accumulated an additional $3.8billion while paying not a penny in taxes.

    The article also revealed that from 2006 to 2018, Bezos increased his fortune by $127billion, but only reported $6.5billion.

  • Cybele Mayes-Osterman

    WHO IS ANDY JASSY'S WIFE?

    Mr Jassy married Elana Rochelle Caplan in 1997.

    The couple held their wedding ceremony in Santa Monica, and their wedding was officiated at Lоеwѕ Ѕаntа Моnіса Веасh Ноtеl.

    The couple have two children together.

    Elana, 52, is a graduate from the Philadelphia College of Textiles and Science.

    She is a fashion designer for Eddie Bauer Inc, a clothing retailer in Seattle.

    Elana is also a marketing manager at Amazon.

  • Julia Fields

    WHAT IS JEFF BEZOS NET WORTH?

    Jeff Bezos is estimated to be worth over $140billion and is on track to becoming the world's first trillionaire.

    While the financial future looks bleak for many during the coronavirus crisis, it has never looked better for Bezos who has become even richer during the pandemic.

    Amazon is now worth $1.1trillion with its shares hitting an all-time high in April of 2020.

    It helped Bezos see his fortune grow by another $6.4billion.

  • Julia Fields

    BEZOS DEDICATING TIME TO OTHER PURSUITS

    He told investors in an April letter that he will be focusing on making Amazon a better place to work. That followed employee frustration that surfaced during a failed unionization campaign in Alabama.

    Bezos is also expected to dedicate more time to other pursuits such as the Bezos Earth Fund, his Blue Origin spaceship company, the Washington Post, and the Amazon Day 1 fund, CNBC reported.

  • Julia Fields

    'A WILD STAT'

  • Julia Fields

    ANDY JASSY'S HOME LIFE

    Mr Jassy married Elana Rochelle Caplan in 1997.

    The couple held their wedding ceremony in Santa Monica, and their wedding was officiated at Lоеwѕ Ѕаntа Моnіса Веасh Ноtеl.

    The couple have two children together.

    Elana, 52, is a graduate from the Philadelphia College of Textiles and Science.

    She is a fashion designer for Eddie Bauer Inc, a clothing retailer in Seattle.

    Elana is also a marketing manager at Amazon.

  • Julia Fields

    WHAT IS ANDY JASSY'S NET WORTH?

    After joining Amazon three years after it began, Mr Jassy has amassed a considerable net worth.

    He is believed to have a personal net worth of at least $394million as of November 2020, according to investing research platform Wallmine.

    The site reckons he owns 2,791 units of Amazon stock, equating to around $280,440,790.

    According to Wallmine, he has sold more than $113million of the stock he owns. 

    Mr Jassy's annual compensation in his position as CEO of AWS comes to $348,809.

  • Julia Fields

    WHO IS ANDY JASSY?

    American businessman Andy Jassy joined Amazon as a marketing manager back in 1997 after attending Harvard.

    The 52-year-old went on to found Amazon Web Services in 2003, with a team of 57 people.

    In 2016, he was promoted from senior vice-president of AWS to CEO.

    Today, he replaced Jeff Bezos as the CEO of Amazon.

  • Julia Fields

    TAX CONTROVERSY

    Bezos has drawn criticism for getting richer while thousands of Amazon workers live on food stamps and toil in poor conditions. He has also been scrutinized for not paying much income tax.

    According to a report by ProPublica, in 2007 Bezos, who was already then a billionaire, paid no taxes.

    In 2011, when he had a net worth of $18 billion, he paid no federal taxes and even received a $4,000 tax credit for his children.

  • Julia Fields

    BEZOS PLANNING MOVIE DEAL WITH DWAYNE JOHNSON

    Bezos also recently posed up for a picture with Dwayne "The Rock" Johnson after announcing a movie deal for Amazon Studios.

    Standing by the seashore, the celebrity wrestler and film star put his arm around Bezos, who was seen smiling in sunglasses.

    The Rock said it was time to "bust out the tequila."

  • Julia Fields

    BEZOS 'TWICE AS WEALTHY' AS BRITISH MONARCHY

    Bezos is said to be more than twice as wealthy as the entire British monarchy – which was estimated to be worth $88 billion in 2017 – and his fortune exceeds some nation's gross domestic product (GDP).

    Bezos makes more money every second than the average US worker makes in a week, Business Insider reports.

  • Julia Fields

    FIRST HELP WANTED AD POSTED BY BEZOS

  • Julia Fields

    JEFF BEZOS' WORTH EXPLAINED IN RICE

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