On February 2, 2021, Jeff Bezos announced in a letter to Amazon employees that he will step down from his position as Amazon CEO and will take a position as Executive Chairman. This means Bezos will remain with Amazon on its Board of Directors as part of a decision-making party, rather than managing the company directly day-to-day. Bezos will essentially act as an advisor to the new CEO, Andy Jassy, who previously headed Amazon Web Services.  

Bezos created the company twenty-seven years ago in his garage, originally as an online book retailer. Since that time in 1994, Amazon sky-rocketed, joining less than ten companies valued at more than one trillion dollars. Bezos stood at the helm of Amazon, and throughout that time, acquired numerous other assets and companies along the way including The Washington Post and Blue Origin. His reputation as one of the world’s richest people cemented his reputation as a successful business leader, but what will actually happen to him and Amazon when he steps down?

“As Exec. Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions,” said Bezos in his letter.

Bezos aims to accomplish a variety of goals with these projects. The Day 1 Fund aims to launch and operate tuition-free preschools along with providing shelter to homeless families. The Bezos Earth Fund aspires to assist the transition to 100% clean energy. Blue Origin notably aims to compete with Elon Musk’s SpaceX in bringing commercial space travel into fruition. On the other hand, people nationwide utilized Amazon in their grocery shopping with respect to the ongoing pandemic. As of March 16, 2021, Amazon’s stock price hovered at just over $3,000, record numbers only reached during the pandemic.

“Amazon became an important site for students and families during this pandemic. Students can purchase books and supplies without needing to travel outside. Amazon helps limit human interaction which causes[s] less spread for the coronavirus while keeping the economy running,” said senior Jmen Seso.

While Jeff Bezos averts his focus on philanthropy and space-related pursuits, Amazon remains an important business in the world. Not only does Amazon serve as an important ecommerce platform to people worldwide, but Amazon Web Services caters to multiple other large companies. With one already wildly-successful company under his belt, Bezos hopes to accomplish much more in the future.

“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,” said Bezos.