Bezos, 57, founded the web services giant in 1994 and took the company on a nearly three-decade run as one of the most profitable in U.S. history. He'll hand the leadership reins over to Andy Jassy, who currently runs Amazon Web Services. Bezos will stay on as Amazon's executive chair, according to multiple reports.Â
Amazon is valued at $1.7 trillion as a leader for revenue among companies in the world. Outside of the news of Bezos stepping aside, the company reported a year of record growth on Tuesday, including a 38 percent increase in net sales from 2019, netting the company $21 billion in income, nearly double from the year before.