Amazon’s founder Jeff Bezos will step down as a CEO of the company and will move to an executive chair in the Q3 of this year. CEO of AWS Andy Jassy will be taking over as chief executive for the firm. Bezos, in an email to employees, said that the transition will allow him to devote more time to “Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and other passions.” Jassy had previously been speculated as a likely successor.
Elon Musk is now the wealthiest person on the planet. Tesla’s 4.8% rise in share price on Thursday let Musk past Amazon’s founder Jeff Bezos, who has held the top position since Oct 2017. The South Africa-born engineer’s net worth was $188.5 bn at 10:15 a.m. in New York, $1.5 bn higher than Bezos. Musk’s net worth, over the past 12 months, rose by more than $150 bn, the fastest bout of wealth creation in history, possibly.
USA politicians, in a historic Anti-trust hearing, questioned CEOs – Sundar Pichai (Google), Tim Cook (Apple), Jeff Bezos (Amazon) and Mark Zuckerberg (Facebook) on matters of privacy, killing competition, controlling the market, and more. The four of them were also asked whether they thought that the Chinese govt steals tech from the US firms. The hearing concluded that they have monopoly power, need to be broken up, regulated, and held accountable.