Jeff Bezos retires as Amazon CEO with $197 billion

What Happened: Jeff Bezos stepped down from Amazon on Monday exactly 27 years after he founded the company.

Details : He will be retiring from the role of CEO at the age of 57 with an estimated $199 billion in wealth, according to Bloomberg’s Billionaire’s Index. The fortune largely consists of his Amazon holdings and other assets. He earned $81,840 salary and $1.6 million in other compensation from Amazon last year.

Bezos plans to focus on his private space exploration firm called Blue Origin. He will retain a key role in Amazon, however, as executive chair at the technology and e-commerce front.

Later this month he aims to fly into space on the first crewed flight made by his space company. A petition to not allow him back to Earth has gathered nearly 150,000 signatures.

Jeff Bezos addresses the media next to the New Shepard launch vehicle

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