Jeff Bezos is stepping down from his post at Amazon.
On Tuesday, Feb. 2, founder and CEO of the technology company said he will transition to the role of executive chair later this year. Chief executive of Amazon Web Services Andy Jassy will become the next CEO.
In an email memo to employees made public, Bezos reflected on Amazon’s insurmountable growth over the past nearly three decades.
“This journey began some 27 years ago,” he described. “Amazon was only an idea, and it had no name. The question I was asked most frequently at that time was, ‘What’s the internet?’ Blessedly, I haven’t had to explain that in a long while.”
In 1995, the Princeton University grad founded Amazon as an online bookstore in his garage. Now, according to CNBC, Bezos, 57, is the second richest person alive behind Tesla and SpaceX founder Elon Musk. Bezos is worth an estimated $184 billion.