On Tuesday February 2nd, 2021, former world's richest man and Amazon Chief Executive Officer, Jeff Bezos announced his decision to step down from the helm of affairs at the company.
Bezos founded Amazon in 1994 from his personal garage. Bezos owns a string of other companies including aerospace company, Blue Origin and The Washington Post.
Amazon is currently one of the most valuable companies in the world, with its market value at close to 1.7 trillion US Dollars.
Bezos has followed in the footsteps of other business moguls such as Bill Gates of Microsoft and Larry Ellison of Oracle, who have all at one point or the other stepped down from being CEO of their companies to take a backseat.
Amazon was founded as an Online bookstore in 1994 just as NetBet Nigeria
and has grown under the keen eye of Jeff Bezos into one of the world's leading companies after it survived the beginning of the internet era.
It was as Amazon CEO that Bezos became the world's richest man in 2017, before Tesla CEO Elon Musk overtook him to become the world's richest man in 2020.
Bezos also does several philanthropic works with the Day 1 fund and the Bezos Earth fund, which are used for helping indigent and homeless families, and sending kids to school in low-income communities.
Bezos' position will now be filled by Amazon Web services Chief Executive Officer, Andy Jassy. Jassy has been an Amazon employee since 1997 and was instrumental in helping the company establish an online presence.