The founder and CEO of Amazon, Jeff Bezos, has announced his retirement on Monday, July 5, and he will be taking $197 billion (USD) to cover his pension, following an incredibly profitable year for Amazon during the global pandemic.
The world’s richest person has decided to retire on July 5, the 27th anniversary of when Bezos launched Amazon as an online bookstore in 1994. Over the years, the fortunes of the company and Bezos himself have improved drastically.
Not to mention, Bezos will also be heading into space in a few days with twice as much money as the entire British royal family, who have a rough net worth of $88 billion as of 2017.
Calculating the depth of his wealth, Insider revealed that Bezos’ fortune is 739,489 times the median net worth of an American at the age of 65. He will even have more money than some GDPs of entire countries.
Meanwhile, Andy Jassy, the current CEO of Amazon Web Services, will be taking over as the CEO of the company. While this will undoubtedly be a profitable endeavour, the company still has challenges to face.
Most prominently, several employees at Amazon have reportedly had to live on food stamps and work in poor conditions as the company profits. This has led to calls for radical change within the retail company.