Jeff Bezos is no longer CEO of Amazon: what will the richest man on Earth do?

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source: news.sky.com

The founder of the online commerce giant will no longer be the CEO of the company. Instead, he will dedicate himself to the space race and philanthropy, among other activities.

Jeff Bezos, the richest man globally, embarks on a new stage in his career after creating a modest online bookstore, one of the most thriving companies on the planet: Amazon.

At 57, the businessman will step down as CEO of Andy Jassy on Monday to pursue other projects, starting with a space trip on July 20.

He will maintain a vital role in the company he founded 27 years ago and remain the executive chairman of its board of directors.

While it has been celebrated for the many innovations that ultimately changed entire economic sectors, it has also been vilified for certain business practices with a tendency to throw off the competition.

Darrell West of the Brookings Institution's Center for Technology Innovation says Bezos is at the forefront of driving change, whether it's book sales, IT, or home delivery.

It has promoted a number of services that people have already covered, such as online shopping, ordering anything, and after delivering it the next day, it sheds light.

Starting with Bezos' garage, Amazon is valued at over 7 1.7 trillion on the stock market today. Its revenue in 2020 was 6 386 billion. Of course, this is a temporary group, ranging from online commerce to cloud computing to artificial intelligence and filmmaking.

Instinct

Bezos "has the instinct to figure out what is going to work," estimates Roger Kay, an analyst at Endpoint Technologies Associates.

The company has outperformed its competitors by deciding to restore all profits in its growth in the first few years, he recalled. He emphasized that the decision was a step in the right direction but said that this was not the case.

For Bob O'Donnell of Technologies Research, Bezos was not the first or only one in the wave of online commerce. Still, he understood it and worked to improve it.

The head of Amazon has mainly "understood the need to build the infrastructure," with its vast network of trucks, warehouses, or planes, O'Donnell points out. "Many other companies did not spend money on that thankless behind-the-scenes job ."

According to Forbes magazine, he also made the fortunes of his company his own: Even after giving his ex-wife part of his shares in Amazon after his divorce, Bezos currently has about 200,000 million dollars.

He leaves the daily management of his company to spend more time dedicated to his other projects, such as the Blue Origin society - which will make its first space tourism flight on July 20 with Bezos on board. The businessman also owns The Washington Post and has said he wants to spend time and money fighting climate change.

Victim of your success?

He is leaving at a time when Amazon, which employs more than 800,000 people in the United States after having seen its activity take off even more during the pandemic, faces much criticism from worker advocates and regulators.

In his last annual letter to shareholders in April, and after a coalition effort at the group's warehouse in Alabama, Bezos acknowledged that the company needed to improve for its employees and promised that Amazon would become "the best employer on Earth.".

But uneasy about the growing influence of tech giants in vast sectors of the economy, regulators are studying measures that could lead to a partial dismantling of Amazon.

He predicts that even if the group is divided into several entities, each will grow in its own market. "I can easily imagine a scenario in which the sum of those entities is shown to be greater than the unified set. As a result, shareholders should not suffer".