Jeff Bezos will step down as Amazon CEO on July 5

[Wicked Blue]

Source: CNN

New York -- Amazon founder Jeff Bezos will officially step down from his role as chief executive on July 5, he announced during the company's annual shareholder meeting Wednesday.

Bezos will hand the reins to Andy Jassy, who currently runs Amazon Web Services, after a nearly three-decade run leading the internet giant that made him one of the richest people in the world. Bezos will become Amazon's executive chair.

The company first announced the leadership change as part of its February earnings report, saying Jassy would take over during the fiscal third quarter. Amazon (AMZN) had not previously shared the precise date of the transition.

The timing is "sentimental," Bezos said — July 5 is the date Amazon was incorporated in 1994.

Read more: https://www.cnn.com/2021/05/26/tech/jeff-bezos-andy-jassy-amazon-ceo/index.html

[True Dough]

1. Is there a

GoFundMe or something we could contribute to? Wouldn't want to see him lacking in any way!

[jimfields33]

3. Lol.

I’d like to donate some can goods as well.

[jeffreyi]

2. The superyacht is beckoning...

https://www.timhunkin.com/a179_pirates.htm

[Rocknation]

4. Jumping ship just as the economy is starting to revive?

Last edited Thu May 27, 2021, 09:27 PM - Edit history (2)

What bullets do you suppose HE'S trying to duck?


Rocktivity

[OldBaldy1701E]

11. The ones fired by those investigating Trumpus.

He knows he did not get that wealthy because of his 'business acumen' alone and he knows what such an investigation is going to spell for those uber-rich who have been maneuvering behind the scenes. He also does not want Amazon to get hit, because that is where his money comes from. So, he himself can weather a few lawsuits and federal charges as long as that river of cash keeps on flowing...

[Yavin4]

5. The entire Republican party exists just to cut his taxes.

That's their only policy prescription for a diverse nation of 330 million people. Cut Jeff Bezos' taxes.

[yaesu]

6. Just as the monopoly lawsuits start coming in from different state JD's. nt

[lordsummerisle]

7. What does the Executive Chair do

besides attending meetings?

[ShazamIam]

8. I wouldn't be shocked if Jeff Bezos makes a run for U.S. President, He thinks he is the God Trump

supporters believe Trump is. Jeff is actually dangerous to the entire planet, not just the U.S. and I wouldn't be surprised if he isn't part of the scam to steal the U.S. Post Office.

[Escurumbele]

14. You do know he owns the Washington Post, right? A newspaper that has been a thorn on the buffoon,

and republicans.

People at his level do tend to think they are close to God (if God exists), but we don't know that Bezos is like that, I have never heard him or seen him react as an arrogant, narcissist person, so I am not sure why you think that way.

Since he took over the Washington Post, the newspaper has worked to uncover the corruption from not only the buffoon but dfrom the republican party, so if he is a liberal and wants to run for president it may be a good thing, but I have a feeling that is not what he wants, we shall see.

[ShazamIam]

16. WaPo and Business Insider, And Bezos appointed an old Reagan man to be the publisher and

They give plenty of space to conservative opinion writers and are no more liberal than NYTimes and Boston Globe when in fact all three lean libertarian, anti-worker (living wage)(Osha and Fair Empl.) anti-public funded health care for all, etc. etc.

I do believe Bezos would be willing to put his businesses in a blind trust if he actually wants the presidency and I am of course only making a wild speculation about his runni8ng, but while there no record of him being a bog political activist or donor, he has benefited mightily with the de-regulation of the U.S. commercial and tax laws.

https://www.washingtonpost.com/business/post-names-frederick-j-ryan-jr-as-new-publisher/2014/09/02/78f65bf2-329d-11e4-8f02-03c644b2d7d0_story.html

[LudwigPastorius]

9. He's stepping down so he can spend more time...

taking over the world.

[Escurumbele]

12. I read a lot of derogatory comments here about Jeff Bezos, and I find they are unjust.

Let me explain.

We all must remember when he started Amazon out of nothing, and for a few years he lost money, economists told us that his business model would never succeed, the stock was almost at a penny-stock level, but Bezos just kept at it and he made it what it is today.

Do I agree with some of his current business practices, the fact that he works his people hard, that he doesn't pay warehouse workers better, and a few more? No, I don't, but we must accept the fact that the current labour laws allow him to do those things in order to maximize profits. That we anger when Amazon opens a warehouse in some city and the city allows him to pay no taxes in order to bring jobs to the city? Who allows that? And are you one of those people who when your boss comes around and says "Hey _____ I have decided to give you a promotion and a raise of salary" you say..."no, there are people out there who are not being paid well, I refuse the promotion and the raise, thank you."

And by the way, he pays his tech people very well and everyone I know who works for Amazon in tech loves it.

Does he deserve to have a $500 million yacht? of course he does, if anyone of us had built an empire as he has we would be doing it too (not me, I don't like yachts, but maybe a great personal airplane), so why criticize him? Let us all learn from him, lets teach our kids how he built an empire so that maybe one of our kids will do too. Instead of going after Bezos lets continue lobbying politicians to do the right thing and to not allow people like Bezos to not pay taxes, and close all the loopholes that will benefit the country.

[Wicked Blue]

13. I wish he were more charitable nt

[Escurumbele]

15. Agreed, and who knows, maybe after he enjoys a lot of his wealth he will...lets hope so.

He definitely has a lot of wealth to enjoy and do good at the same time.

[ShazamIam]

17. He couldn't have, started Amazon without the tax money developed and supported internet.

Last edited Thu May 27, 2021, 01:59 PM - Edit history (1)

That is true of all the tech billionaires, the funding for the technology that delivered the personal computers and the internet is all, that is ALL, a product of tax money invested for these necessary for national and economic security.
Back in the olden days of Tech companies the employees of these companies received high wages, great benefits, often stock options and stock incentives, profit sharing was widespread, ......

Beginning in the 80s the jobs began to be outsourced and filled with cheap visa H1B visa workers. And while some of them, not Bezos, paid all their workers fairly most fired non tech employees and replaced them with contract workers with no benefits.

I worked for a tech company in the 90s and early 2000s that during 1995-98 were laying off older techies, engineers and technicians and replacing them with visa workers at greatly reduced pay. Achieved by twice a year, re-organizations of staff and responsibilities, the 2000 market crash provided another opportunity to lay off the older higher paid workers. This was common in the industry

And really, like Walmart Bezos employees had to supplement their pay with food stamps and housing vouchers and EITC.

It is only recently he increased the pay for the warehouse workers.

There is actually no justification for the kind of individual wealth of the Forbes U.S. 400 richest when 40% of Americans are in or near poverty, still don't have health care.

There is no justification for that kind of personal wealth when the minimum wage is not a living wage.

Where working class students who could once attend tuition free colleges, now have to obtain loans to attend (tje b8g 80s tax cut) ended the low cost state college educations for our working class children.

Ah never mind.

*typo edit: Amazin to Amazon

[NurseJackie]

18. Good for him!