<p>Jeff Bezo was Amazon CEO since he founded the company in 1994</p>

Jeff Bezo was Amazon CEO since he founded the company in 1994

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Today marks an end of an era for Amazon, as Jeff Bezos steps down from his role as CEO of the company.

The date of his departure is significant due it also being the same day on July 5, that Amazon was founded in 1994.

His role has earned him the title of as the world’s richest person at age 57, with an estimated fortune of $204 billion dollars, according to Bloomberg’s Billionaire’s Index, as of July 5.

Most of his wealth comes from Amazon holdings and other assets.

Bezos also received an $81,840 salary in his role as CEO, along with $1.6 million in other compensation from the company last year.

His fortune is worlds apart from the average American.

Bezos makes more money every second than the average US worker makes in a week.

According to the US Census Bureau, Bezos’ wealth is a staggering 739,489 times the median net worth of an American at the age of 65 – the average age at which people in the US retire.

For Americans in this age group, the median net worth is $266,400, according to data from the Federal Reserve.

Plus, thanks to the global pandemic, more people were using Amazon’s online marketplace when places were closed.

As a result, Amazon shares shot up and Bezos’ wealth skyrocketed by $75 billion dollars during 2020.

He is even wealthier than all of the British Royal Family - which was worth an estimated $88 billion, as of 2017.

Due to his ever-growing wealth, Bezos has been subject to criticism over the years for the poor conditions Amazon warehouse employees have to work in.

He will now be replaced by Andy Jassy, the current CEO of Amazon Web Services, the company’s cloud platform.

Bezos is set to make the most of his retirement, as he plans to blast into space with his other company, Blue Origin in its New Shepard rocket and capsule system on July 20.

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