Jeff Bezos is stepping down from his submit at Amazon. 

On Tuesday, Feb. 2, founder and CEO of the expertise firm stated he’ll transition to the position of government chair later this 12 months. Chief government of Amazon Internet Providers Andy Jassy will develop into the subsequent CEO. 

In an e mail memo to workers made public, Bezos mirrored on Amazon’s insurmountable development over the previous almost three many years.

“This journey started some 27 years in the past,” he described. “Amazon was solely an concept, and it had no identify. The query I used to be requested most often at the moment was, ‘What is the web?’ Blessedly, I have never needed to clarify that in a protracted whereas.”

In 1995, the Princeton College grad based Amazon as an internet bookstore in his storage. Now, in line with CNBC, Bezos, 57, is the second richest individual alive behind Tesla and SpaceX founder Elon Musk. Bezos is price an estimated $184 billion.