What Will the Future Hold for Bezos and Amazon?

What+Will+the+Future+Hold+for+Bezos+and+Amazon%3F

Brock Adams, Staff Writer

Jeff Bezos currently holds the title of the wealthiest person in the world, but he will soon no longer maintain the position of Amazon CEO. In early February, the multi-billionaire announced that he will be stepping down as the chief executive of the company that he founded in 1994. Amazon has revolutionized all aspects of consumer life as well as the means by which goods are manufactured and distributed. Often a significant shake-up in the leadership of a company leads to struggles down the road; however, this does not appear to be the case for Amazon.

It is impossible to go one day without experiencing the effects Amazon has made throughout the world, whether that is through online shopping, shipping, entertainment, or even sports! Many have even let Amazon have direct access into their home with the purchase of an Amazon Echo, more commonly referred to as an Alexa. It is hard to imagine that an entity capable of impacting daily life will begin to falter due to a change in leadership. Still, Bezos is not taking any chances as he will assume the executive chair position later this year. This means that Bezos will still be heavily involved in the company’s management and decision-making, while the individual next in line for the throne of the 1.7 trillion dollar company is Andy Jassy.

According to CNN, Jassy has been apart of Bezos’ team since 1997, two years after the company was founded, and is currently the CEO of Amazon Web Services. The 53-year-old Harvard MBA graduate is set to take over the Amazon compony sometime in late 2021, but as for now, Jassy currently serves as the CEO of Amazon Web Services. Jassy will need to learn from the trials and errors made by Jeff Bezos during his 24-year tenure as the head of the company. Amazon is no stranger to controversy as, through recent years, several accounts of unsafe and unhealthy work environments were reported by Amazon warehouse employees. Such complaints included being unable to use the bathroom without the risk of losing pay. These publicly broadcasted controversies can often jeopardize the reputations of major companies and manufacturers. Bezos has now redirected his focus from the cardboard shipping boxes and focused it up towards the stars.

Bezos is the owner and founder of his space company titled Blue Origin. This adds another item to the list of similarities between Bezos and Elon Musk, including their net worth, as Bezos recently reclaimed the title of the wealthiest person in the world away from Musk. Bezos now looks to put more time and effort into launching Blue Origin off the ground, both literally and figuratively. The market of privatized space travel is one that has yet to be heavily monetized. This past summer appeared to be the potential beginning of such possibilities as Space-X successfully sent two individuals to the international space station. Bezos will not be one to wait around reluctantly as Musk and Space-X take the first steps to send everyday citizens to outer space. This will add new competition for a product that is not yet available. This could very well be the space race between billionaires. The next several months will be very telling in the effects Bezos’ exit will have on several businesses as well as daily life.