CNBC - Amazon announced on Tuesday that AWS CEO Andy Jassy will replace Jeff Bezos as CEO during the third quarter of this year. Bezos will transition to executive chair of Amazon’s board.
Bezos founded Amazon in 1994 and since then has morphed it from an online bookstore into a mega online retailer that sells and delivers all sorts of products all over the world. In January of last year, Amazon surpassed a $1 trillion market cap under Bezos’ leadership. It’s now worth more than $1.6 trillion.
There comes a time in everyone's life when they realize it's time to step away. Maybe you're too old. Maybe you have other passions you want to pursue. Or maybe, like Jeff Bezos, you're simply too rich.
As the old saying goes, "mo money, mo problems". You see, Jeff Bezos on paper is worth anywhere between $180 and $200 billion, depending on how many black market babies he had to eat for breakfast that day to sustain him. And you know how hard it must be for him to wake up every day knowing he has to find a way to spend that money? It must torture him. He can't even get remotely excited to buy a baseball team for a measly $3 billion. That is ashtray money to him. He could drop $3 billion in a donation cup outside the local Walmart and he wouldn't even notice a difference in his bank account. It has to be stressful to know there is nothing that you can buy that can fulfill you. So I'm glad he is stepping out of his CEO roll to find just that.
What will he buy? Can he make an offer on a country? If Bezos walked to Botswana HQ could he put $10 billion on the table and rename it Bezoswana? Wouldn't hurt to try. Maybe a planet, perhaps? I don't know who owns the naming rights to the solar system, but what is Mercury going for these days? Or if it's not for sale, he could just become the presenting sponsor. Jeff Bezos Presents Uranus has a nice ring to it.
So good luck to Mr. Bezos on his new endeavor. Hopefully him and his wife (seen below) find happiness, I know I sure wouldn't be able to if I had $180-$200 billion. It's just too much.