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Jeff Bezos is retiring at the age of 57 with a net worth of $197 billion

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Jeff Bezos’ tenure as CEO of Amazon came to an end in July 2021, and he stepped down as the world’s richest person.

According to Bloomberg’s Billionaire’s Index, he will leave the job at the age of 57, with a net worth of $199 billion.

His vast Amazon holdings and other assets account for the majority of his riches. Last year, Amazon paid him $81,840 in salary and $1.6 million in additional compensation.

According to the US Census Bureau, his fortune is 739,489 times the typical net worth of an American at the age of 65, the average age at which persons in the United States retire.

According to Federal Reserve data, the median net worth of Americans in that age group is $266,400.

The pandemic propelled sales stratospheric on his company’s online marketplace, driving shares upward, increasing Bezos’ riches even more over the past year.

Over the course of 2020, his net worth increased by $75 billion.

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He’s been criticized for padding his pocketbook as thousands of Amazon warehouse workers rely on food stamps and work in deplorable circumstances.

Andy Jassy, the current CEO of Amazon Web Services, the company’s cloud platform, succeeded Bezos. On July 5, Bezos stepped down, a significant date considering that Amazon was launched on the same day in 1994.

Whats next for Jeff Bezos?

Bezos’ new frontier has been space, where he launched with three crew mates on the first mission of Blue Origin’s New Shepard launch vehicle in July.

On the 11-minute voyage, Bezos was joined by his brother Mark, as well as the oldest and youngest passengers ever to go into space, 82-year-old historic female aviator Wally Funk and 18-year-old physics student Oliver Daemen.

The maiden flight took place on July 20, the same day that Neil Armstrong and Buzz Aldrin, onboard Apollo 11’s Eagle, were the first humans to walk on the moon in 1969.