Jeff Bezos becomes world’s richest person ahead of Tesla’s Elon Musk
Jeremy Clarkson reveals 'nice gesture' from Jeff Bezos
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The founder of tech giant Amazon had topped the Bloomberg Billionaires Index list for three years before briefly losing the position to Mr Musk. It came after the SpaceX founder lost about $4.5 billion Tuesday when Tesla (TSLA) shares fell 2.4 percent.
Mr Bezos saw his company’s stake skyrocket by $75 billion in 2020, to $173.3 billion.
The ranking currently sets Mr Bezos’ worth in $191 billion, while Mr Musk follows closely at $190 billion.
At the beginning of February, Mr Bezos announced he will step down as chief executive of the e-commerce company he founded in 1994.
Andy Jassy, the current head of Amazon’s cloud computing business, will take control of daily operations.
However, Mr Bezos will not completely relinquish his role in the company as he is set to take on the position of executive chairman.
Mr Bezos said stepping down will allow him to have more time to focus on the Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post and the Amazon Day 1 Fund.
He announced the news to his employees in a letter which read: “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO.
“In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives.
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“Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.”
Mr Bezos said the move “isn’t about retiring”, and insisted he’s “never had more energy”.
Mr Jassy, who will succeed Mr Bezos, is currently the CEO of Amazon Web Services, the company’s cloud computing business.
He has worked for the company since 1997, when he joined as a marketing manager.
Amazon, which was originally set up in Mr Bezos’ garage, is now worth more than $1.6trillion (£1.2trillion).
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The e-commerce giant has also benefited from the coronavirus pandemic, with retailers forced to shutter under lockdown restrictions.
Mr Bezos said Amazon’s success stemmed from invention, and said in his letter: “Amazon is what it is because of invention.
“If you do it right, a few years after a surprising invention, the new thing has become normal. People yawn. That yawn is the greatest compliment an inventor can receive.
“When you look at our financial results, what you’re actually seeing are the long-run cumulative results of invention.
“Right now I see Amazon at its most inventive ever, making it an optimal time for this transition.”
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