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  • Jeff Bezos announced on Tuesday that he’s stepping down as CEO of Amazon in the third quarter. 
  • When Bezos first launched the $1.7 trillion company, he decided to start by just selling books.
  • A sales focus on books still molded the experience we have today — you can find anything on Amazon.

Jeff Bezos is stepping down from his role as the CEO at Amazon, a position that he has held since he founded the company in 1994. 

Andy Jassy, who’s currently the CEO of Amazon Web Services, will take over as the next CEO, Bezos wrote in a letter to Amazon employees published Tuesday afternoon. Bezos will remain executive chairman of the company. 

Bezos is the world’s richest person. He’s worth $196.2 billion. He plans to dedicate more time toward philanthropy and his other investments in The Washington Post and Blue Origin, his aerospace company. 

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