A few days back Amazon announced it’s 4th quarter 2020 earnings of ~$ 126B, the e-commerce giant’s first $100B+ quarter.
But this big news was shadowed by a way bigger piece of news: Jeff Bezos to step down as Amazon’s CEO.
As reported by The Wall Street Journal, Jeff Bezos has been more of an executive chairman in recent years trying to not schedule meetings before 10 a.m. and to not make any difficult decisions before 5 p.m.
Jeff Founded Amazon in 1994 and opened IPO’s in 1997 and since then his company’s worth moved from $300m to a whopping $1.7t.
The pandemic has been an enormous tailwind for amazon’s business, with deliveries surging and remote working skyrocketed it’s cloud business. In Q4 alone amazon has recruited nearly 175k employees, expanding it’s workforce to 1.2million.
Well, What’s Next For The Company?
An HBS grad whose been at amazon since 1997, Andy Jessy was one in all 2key execs(along with JEFF Wilke) who Bezos tasked with overseeing the company’s day-to-day activities in 2016.
As the current CEO of AWS, Jessy has been an analytical driver of the company’s growth in recent years.
Many Investors believes that AWS would be worth $2Trillion-$4Trillion as a standalone stock with an enormous T.
What’s Next For The Chief
Like many folks, Bezos also has some side hustles. the sole difference is that his side hustle costs around $1Billion annually. Yeah, He sells stocks worth $1billion of $AMZN to fund his space company “Blue Origin”
Bezos can focus full time on this hobby in quarter 3 of 2021 when he’ll transfer to the manager chairman role of Amazon’s board.
“Keep inventing and don’t despair when the concept looks crazy,” Bezos wrote in an e-mail to employees.
”Remember to wander and let curiosity be your compass.”
-Jeff Bezos
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