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BRIEF: Jeff Bezos vacates Amazon CEO chair

Amazon founder Jeff Bezos is stepping down from his role as the company’s CEO to make more time for outside projects, and practicing his backstroke in his Scrooge McDuck-like vault of gold. OK, we made the last part up. Probably.  He’s the richest person on Earth again after local boytjie Elon Musk overtook him briefly last month. With a net worth of R3 trillion, according to Forbes, Bezos earns over R30 000 a second. 

The 57-year-old entrepreneur will transition to the role of executive chair. Andy Jassy, current head of the company’s lucrative cloud services, takes over as CEO.

With online shopping taking off during Covid, Amazon has posted incredible results recently. But it’s been criticised for paying its workers badly and its warehouse working conditions leave much to be desired. Amazon’s workers protested late last year over allegedly inadequate safety measures during Covid-19, and the company was fined millions for allegedly not giving its drivers their tips. Bezos is the only one of the top five billionaires in the world who has refused to sign the Giving Pledge, an initiative created by Bill Gates and Warren Buffett that encourages wealthy people to give away a majority of their wealth.

This brief was originally published in The Wrap here.

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