Jeff Bezos donates record breaking $200 mn to Smithsonian

Jeff Bezos steps down as Amazon chief after 27 years

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Washington: After 27 years of founding Amazon, Jeff Bezos stepped down on Monday to prepare for a new career stage.

Bezos, 57, will now turn his attention to his private space exploration company, philanthropy and other causes. However, he will continue to play a key role as the executive chairman of the technology and e-commerce giant.

The transformation happened after Amazon achieved an amazing winning streak, and Amazon has attracted attention because of its innovation.

But the company has also been slandered for suppressing competitors’ business practices and has raised concerns about the treatment of more than 1 million laborers.

Darrell West, a senior researcher at the Brookings Institution’s Technology Innovation Center, said: “Bezos has always been a transformative leader…in book sales, retail markets, cloud computing, and home delivery. .”

“He is a pioneer, he introduced many conveniences that people take for granted, such as going to an online store, ordering things, and then delivering them to your home the next day. The entire e-commerce field owes its many innovations to this person.”

In public appearances, Bezos often recalled his early days at Amazon. Starting from his garage, he packed orders by himself and drove the boxes to the post office.

Today, Amazon’s market value exceeds $1.7 trillion. It announced that the annual revenue of e-commerce, cloud computing, groceries, artificial intelligence, streaming media and other businesses in 2020 will be US$386 billion.

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