Amazon founder, Jeff Bezos, wrote a letter to his employees on Tuesday, Jan. 2, announcing his plan to step down as the CEO of the eCommerce giant, and assume the Executive Chairman role. He said the move would give him time to pursue his ‘other passions’.
Bezos, 57, however, reiterated that his stepping aside as CEO does not translate to retirement, as he affirmed that he’s full of energy for his next endeavours.
“I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on…my other passions. I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have,” Bezos, the second richest man in the world, said in the letter.
He also named Andy Jassy, who currently heads Amazon Web Services, as his successor.
What’s Bezos’ next move?
Bezos wants to focus on his ‘other passions’ and here are some of them.
1. In 2018, Bezos established the ‘Day One Fund’, a $2 billion fund aimed at opening full-scholarship, Montessori-influenced preschools in underserved communities and funding nonprofits that support homeless families. He said he’ll have time to drive the project after stepping down from Amazon.
2. He said he’ll also have time to intensify his effort on the climate change project, Bezos Earth Fund, which he launched last year with a $10 billion pledge (almost 10% of his net worth at the time). He had issued grants to scientists, activists, and NGOs to help combat climate change.
3. Bezos’ spaceflight company, Blue Origin, is also going to have his attention. The company, which develops rockets for commercial space tourism, is projected to help NASA take humans to the Moon.
4. He said he’ll also be more committed to the digital expansion of The Washington Post, the media company he acquired in 2013 to the tune of $250 million.
According to Forbes, Bezos is worth $196.4 billion. He founded Amazon in 1994 from his garage and the company is now one of the biggest in the world, with ventures in streaming, entertainment, groceries, delivery, and more.
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