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Jeff Bezos Steps Down as Amazon CEO After Amassing Huge Personal Fortune

HeadlineFeb 03, 2021

Back in the U.S., Jeff Bezos has announced he is stepping down as CEO of Amazon, the $1.7 trillion company he founded in 1994. Bezos will remain as executive chair and the company’s biggest shareholder. Jeff Bezos is now worth about $185 billion, after personally making over $70 billion since the start of the pandemic. Bezos will be succeeded in July by Andy Jassy, who runs Amazon’s cloud computing division. In a 2018 interview with PBS “Frontline,” Jassy dismissed concerns about Amazon’s market monopoly and the antitrust push against the company.

Andy Jassy: “We have a relatively tiny share of the overall market segments in the categories in which we operate. And then I think the other thing to remember is that consumers and customers have a choice on where they spend their money. Simply because Amazon decides to pursue a market segment doesn’t mean that customers are going to spend their money there.”

Jassy also defended Amazon’s decision to sell facial recognition software to police departments and foreign governments in the interview, though Amazon announced last summer it was banning police use of their facial recognition technology for one year amid the historic Black Lives Matter and anti-police-brutality uprising.

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