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Jeff Bezos steps down as Amazon CEO and Andy Jassy, the chief executive of Amazon Web Services, will take over as CEO of Amazon.
Jeff Bezos Steps down as Amazon CEO
dust on 03/02/2021 - 09:34
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Not sure how much he will be paid as a board member but as Amazon CEO he was getting less than $100k per year. The big $$$ you are talking about are coming from realized capital gains as a shareholder. Not CEO or board member position.
Good ad for passive income (and I am not talking about MLM schemes). You can get richer doing nothing or something you actually like.
It's pretty active income when you have to take leadership to proactively roll-out and invest in new ideas, technologies and businesses, and promote them to new customers and all different stakeholders.
@inherentchoice: There are people who work for a salary not have no equity that do that.
If you own the company and have role in day to day it is both salary, equity and dividends.
Passive income is from dividends in this case.
I haven't seen anyone become a billionaire from collecting a salary and not have any equity but this is OzBargain so anything could be true.
It's his money. He can do with it what he wants. And it's not like he hasn't actually given money away. Their foundation has spent over 22 billion dollars since 2006.
You know it is easier telling other people how to spend there money when (they) have none.
22 BILLION? Ptf… Chumps change, I'm sure studentl0an does double that each week.
@[Deactivated]: I know that when I say I will do something I do it, not just to virtue signal to others.
He said he was going to give it all away, instead he made significantly more than 22 billion since he gave away 22 billion. The rich get richer and virtue signal to the plebs like us, so that we don't realise that the many billions comes squeezed out of lost opportunities for all of us while everything gets off-shored. It's all for show for people like you.
If Bill Gates was sincere he would have less wealth, not accumulated many more billions since he said he was going to give away his money.
Maybe it's time for him to cash in all the shares and live happily ever after
I doubt it. My understanding is he surrounds himself with excellent, autonomous workers. It sounds like he has found someone he trusts to replace him to allow Bezos to move on to another endeavor.
I guess he has a personal, high upfront cost moon shot he wants to achieve in his lifetime now he has the capital to back it up. I doubt it is as simple just a Mars colony. The guy creates major, efficient systems. My guess would be a scalable supply system for off earth construction for 2035 and a company store for Mars to support 100,000 people by 2040 and one million by 2050.
I would expect significant life extension to be another moon shot, not just for himself, but to maximise the value of his high investment, off world employees.
How do you know that mere cash is living happily ever after?
I think his pursuits give him meaning and purpose, and happiness.
Even if he cash in he needs to put it somewhere. Even in the index and paying 2% dividend he would be finding it hard to spend it all unless he does something really big.
His ex-wife gave a few billion away and still haven't made a dent in her divorce settlement as the Amazons shares have been going up.
Since he has that much wealth, he'd much rather spend his time doing philanthropic work and focus on future industries that will benefit the environment. I bet he'll re-marry his ex-wife.
smart people will not marry
I don't think MacKenzie Scott would agree with that.
Good move. Now come to Australia and move to kings cross.
He's got more important things to do, like beating Elon to Mars.
And space mining
Imagine how much further along Blue Origin would be if Bezos was more involved.
I think he's the biggest liabity to the entire project.
How?
He was top 1% of his year at Princeton in electrical engineering. He can do maths.
He has multiple billion dollar tech divisions. He can clearly manage smart people (even if he can be a dick).And even if he did burn though rocket scientists, Musk takes the same approach. They both need to if they want to be remembered as more than 21st century robber barons.
Intergalactic Book Store
Elon: "Jeff who?"
"Mars back up plan" for when people of earth can't sort themselves out and need somewhere else to pollute and consume.
Can you think how bad it would be on Mars trying to sustain people used to the current ways of consumption.
Wonder if he'll still get free shipping for orders under $49.
maybe he can get blue origin's sh*t together now
i'm not sure if that would be a good or bad thing
I'm actually not surprised. I heard that working condition at Amazon is terrible.
Meh
still gonna be chairman and still gonna be raking in that big $$$
no different from what Gates did….get the $$$ without doing the actual work