Jeff Bezos retires at 57 with $201 billion, more than 750,000 times the median American’s retirement wealth

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The world’s richest individual, Jeff Bezos is lastly stepping on Monday July 5 as Amazon’s CEO at age 57.

Bezos, who first announced in February he’s stepping down as the CEO of the e-commerce big he based 27 years in the past, will retire on Monday with a staggering $201 billion fortune in keeping with Forbes real time net worth – that’s 754,504 times the median internet value of a mean American retiring at about 65.

He is more than twice as rich as the entire British monarchy, which is value an estimated $88 billion as of 2017.

“The world wants you to be typical. Don’t let it happen.” Bezos wrote in his last letter to shareholders in April as an outgoing CEO of Amazon.

The median internet value of common American retiring at about 65, is $266,400, in keeping with Business Insider, citing knowledge from the Federal Reserve.

Bezos’ fortune ballooned over the previous 12 months as on-line gross sales surged at the peak of the pandemic, sending shares greater. Amazon was reportedly generating $10,000 per second in online sales at some extent final 12 months. The firm recorded whole gross sales of $75.4 billion in the first quarter of 2020.

Bezos can be changed by Andy Jassy who presently oversees Amazon Web Services, the firm’s cloud platform. “Andy is well known inside the company and has been at Amazon almost as long as I have,” Bezos stated. “He will be an outstanding leader, and he has my full confidence,” he added.

July is a major month for Bezos who is planning to fly to space July 20 with his brother Mark from his rocket firm Blue Origin spacecraft. And July 5 is a memorable date for the billionaire, provided that Amazon was based on the identical date in 1994.