Amazon’s Jeff Bezos Will Retire at Age 57 with $203 Billion Dollars
Come Monday, Jeff Bezos will retire from his role as CEO of Amazon at the age of 57, with an estimated $203 billion USD to his name, according to Bloomberg‘s Billionaire’s Index at the time of this writing — reports Business Insider.
Bezos is currently the wealthiest man in the world, a title he has held since 2017 after Amazon’s shares surpassed the $1,000 USD mark for the first time, and only briefly lost to Tesla’s Elon Musk earlier this year.
Bezos’ wealth mainly consists of his holdings in Amazon, which he owns a whopping 17% of. Last year, the CEO received an $81,840 USD salary and $1.6 million USD in other compensation from Amazon.
According to statistics from the U.S. Census Bureau, Bezos’ personal wealth at the time of his retirement will exceed an estimated 739,489 times the net worth of the average American at the age of 65, which is the median retirement age in the U.S..
According to the U.S. Federal Reserve, the average American at or around the age of retirement has $266,400 USD in personal wealth.
In contrast, Bezos added an estimated $75 billion USD to his personal wealth in 2020 alone. The Amazon CEO makes more money in one second than the average American employee does in one week.
Bezos will retire as CEO on July 5 — the same date Amazon was founded on back in 1994, and will transition to the role of Executive Chairman. Andy Jassy, who is currently serving as CEO of Amazon’s cloud services wing, Amazon Web Services, will take up the mantle of Amazon CEO.