Jeff Bezos retires as Amazon CEO with $ 197 billion today
We knew this was going to happen for almost six months now, but the time has finally come. 27 years ago, Jeff Bezos laid the groundwork for what can only be described as a modern day empire by incorporating Amazon. Fast forward to the present and that same day will go down in history as Jeff Bezos officially retires – at the bright age of 57, with his divorce finalized, a new wife in his life and a nest egg in good health amounting to almost inconceivable 197 billion dollars (260 billion Australian dollars). That’s not a bad round, considering that’s 739,489 times the median net worth of Americans at 65.
In transition to the role of executive chairman, Bezos will be replaced by the former “ghost advisor” and head of Amazon Web Services: Andy Jassy. The two first met at a ‘broomball’ game – a football and lacrosse fusion invented by another Amazon executive who apparently remains popular among the corporate structure today. .
Jassy, who had just graduated from Harvard Business School to join the operation, made a strong first impression with Bezos… by clubbing him (accidentally) on the head with a kayak paddle. Of course, as painful as this moment must have been for all parties involved – albeit in two different senses – the incident did not hurt Jassy’s career prospects at all. Quite the reverse, in fact. Move up the ladder quickly, depending on The Guardian, Bezos recognized early on that Jassy was “almost as competitive as him”. Clearly.
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“I especially want to thank Andy Jassy for agreeing to take on the role of CEO,” Bezos said in his last letter to Amazon shareholders at the end of April.
“It’s hard work with a lot of responsibility. Andy is brilliant and has the highest standards. I guarantee you Andy won’t let the universe make us typical. It will gather the energy necessary to keep alive in us what makes us special. It will not be easy, but it is essential.
So he’s the new boss. Although the question remains… what about the old one now? As well as spending his time between his brand new US $ 500million (AU $ 636.5million) superyacht, shooting space and, of course, serving as executive chairman of the behemoth he has built, Jeff Bezos retires with a hell of a legacy.
Business intern took the liberty of calculating the numbers / plotting – here are the most impressive statistics on Bezos’ tenure as CEO of Amazon in numbers only:
- Amazon generated sales worth US $ 511,000 in its first full fiscal year – this figure was multiplied by more than 772,000 times from 1995 to 2020 (last year’s net revenue: US $ 386 billion)
- Of current net sales, US $ 197 billion comes from Amazon’s online platform; incidentally, this exact number matches Jeff Bezos’ estimated net worth / retirement fund
- In terms of physical presence, a single office in Seattle has since expanded to approximately 475 million square feet of Amazon real estate – “… that’s over 8,246 football fields of office space, centers distribution, data centers, physical stores, etc. “
- Over 1.3 million people are employed by Amazon, including more than 95,500 drivers who deliver packages; In the United States alone, the company delivered approximately 5.1 billion packages last year (almost as many as the entire United States Postal Service)
- And while we talk about deliveries, Amazon has amassed “at least” 30,000 vans, 20,000 trailers, with a pending order of 100,000 electric vans on the horizon, and by the end of the year, an impressive fleet of 85 aircraft.
A big effort, I would say.