Amazon’s Jeff Bezos has officially stepped down as CEO of Amazon. Everything you need to know going forward and how it affect this Stock!
So we all know Jeff Bezos as the CEO of Amazon. So what the heck is going on!! Today, the founder and CEO shook the world with the announcement that he would step down as CEO of Amazon. Jeff founded Amazon in 1994 with his ex-wife Mackenzie Scott. I say Ex-Wife because he cheated and they divorced about a year ago taking 25% of their shares with her making her the richest woman on the planet practically overnight!!
Why Bezos might have stepped down:
1. Anti-Trust Hearings
Back to the main topic, 27 years ago, Bezos borrowed 245,000 from his parents to have some startup capital and now that’s worth over a trillion if not 2T USD today. Bezos is a juggernaut in the business world basically focusing Amazon on acquiring businesses and on being the best and most profitable business of all time. Bezos is now worth in the ballpark of 200 Billion all by himself and plans to spread that wealth around in the ways he can. While there’s no word about his sons and daughter receiving any money, it wouldn’t be surprising to hear that come up. Bezos is not sick or anything of that magnitude in fact if it were up to him, Bezos would prefer to keep the company in his hands, but with the situation Bezos is stuck in Gridlock,Amazon(AMZN) is in deep trouble in an Anti-Trust Hearing along with Google(GOOGL),Apple(AAPL),Facebook(FB),Twitter(TWTR).
These hearings might force Amazon(AMZN) to reduce their holdings in over 196 countries and provinces. Amazon has holdings in Grocery Stores,Shoe Companies, LIDAR and Self Driving Tech, and more. Their holdings over the last ten years alone are worth about 32 Billion all on their own. That could be catastrophic for the stock price of Amazon which hovers near 3300.00 as of today!! If Bezos stepped down, he might be able to sell a significant portion of his shares without Filing that with the SEC and conserve as much money as possible in the long run.
Reason 2: Age
Bezos is old, there’s no getting around it. Bezos is around 57 as of today and it’s shows not that I wanna be rude but that’s kinda old for anyone! Bezos has racked up nearly enough to buy himself several second world countries and still have billions to play with!!!
Bezos probably wants to cash out on his long term investment and that will be one hell of a bill. It might take him several years but he’ll find a way to do it. As CEO, Bezos officially took a paycheck of 81,000 USD. A modest salary but most employees of his that work in Seattle make far more. But with his stock, Bezos makes 2700 dollars every second!!! Jeez, I’d kill to make that kinda money.
Bezos doesn’t need to spend his days working at the fabric of Amazon. He’s done so for 27 years and I think he’s planning for more as Executive Chairman of the Company!!
That’s the kinda job that will get you far in life.
Reason 3: Bezos has several other companies one of which are in conceptual phases right now!!
Bezos has Blue Origin, a space tourism company that he wants to see flourish. Blue origin is ridiculously easy to hate on. They have $$$, they have favored alliances and they have contracts to make more money. They have everything SpaceX did not. While Bezos did not do all of the work, Bezos owns most of the company and Bezos is the primary backer of the company and more over the testing grounds for Blue Origin is on Bezos Van Horn Ranch.
Bezos pours over 1B of Amazon Stock annually to fund and lead the company.
If Bezos took the helm of Blue Origin, it would proceed by leaps and bounds. Bezos might actually get to see a floating space station bigger than a planet though that seems unlikely to happen till Bezos would be about 90, by then Elon would be on Mars and we would be Multi Planetary!! This is a huge reason why Bezos may have considered this move.
Reason 4:Strategic Thinking
Bezos might be planning something which may allow Blue Origin, Amazon and all the entities which he owns to be one and the same? Bezos is known for long term thinking and so this exit may be a strategic move to acclimate his family or a new entity into Amazon. Bezos also has other investments he manages as he holds stakes in AirBNB(ABNB), NextDoor, and several other names.
He may be thinking of something let’s just hope it’s not diabolical.
Who Succeeds such a Legend of Entrepreneurship?
Jeff Bezos is a legend among entrepreneurs and a titan among technology. So who Succeeds Him?
This is the next CEO of Amazon!! His name is Andy Jassy. Jassy is currently the CEO of AWS but starting in September 2021, he will helm Amazon as the CEO. Jassy like Bezos, went to an Ivy league, he attended Harvard College and has an MBA from The Harvard College of Business. Jassy is a bit younger than Bezos but hasn’t spoken about his direction for the E-Commerce Giant.He is also one of the minority owners of the Seattle Kraken of the National Hockey League. Little is actually known about Jassy’s private life and I will not spew about it till it becomes more readily available.
Many CEO’s and Tech gurus have congratulated Jassy on his accomplishment and Bezos on his position change. Amazon may become more of a Cloud- Architecture business but will also seek to preserve it E-Commerce considering most of it’s infrastructure is there and that over time Amazon’s new vision might be more of a traditional or unconventional outlook on business operations.
Congratulations Andy Jassy and Jeff Bezos on Your New positions
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