He is still going to be the executive chair. Being CEO takes up a lot of time and time is the only thing Bezos can't buy more of. He still will be able to move Amazon cloud and retail business in whatever direction he would like. He just doesn't have to do all the CEO stuff now.

According to the FTC, Amazon employees called the investigation into drivers’ tips a “reputation tinderbox” and “a huge PR risk to Amazon”.Amazon says it “disagree[s] that the historical way we reported pay to drivers was unclear”, but “is “pleased to put this matter behind us”. That only happens, of course, if we let it.

Bezos will remain as the Amazon CEO until the second half of 2021. He'll then be replaced by Andy Jassy, while Bezos takes over as an Amazon executive chair. Bezos launched Amazon as an online bookshop in 1994. It now employs more than 1.3 million across the planet, and has seen its growth skyrocket over recent months. Sales increased 38 percent over the past 12 months, with profits doubling.

Coincidence or the machinations of a PR system approaching levels typically seen when governments need to bury some bad news? Either way everyone is talking about Jeff Bezos stepping down and not the fine they just received for ripping off their some of their delivery drivers. "The founder of Amazon stepped down from his CEO position yesterday, shortly before the United States Federal Trade Commission announced that it was fining his company $61.7m"

Literally the largest and richest corporation in the world and they still resort to stealing wages. And what I'll never understand is, Amazon has more than enough money to supply health care to their workers and still have billions left. I cannot wrap my head around the greed that Bezos has.

Jeff Bezos is the wealthiest person alive and is also the first person in modern history to accumulate a fortune of over $100 billion. He has an estimated net worth of $156 billion. Bezos remains Amazon's largest stockholder and is one of the US' biggest landowners. Bezos also owns a $65 million Gulfstream G650ER private jet.

After graduating from Princeton University, Jeff Bezos started a job at a fintech telecommunications start-up, Fitel. Within months, he was promoted as the director of customer service. He shifted to the banking industry and later joined D E Shaw & Co, a newly founded hedge fund. At the age of 30, he was appointed D E Shaw's senior vice-president.

>"The founder of Amazon stepped down from his CEO position yesterday, shortly before the United States Federal Trade Commission announced that it was fining his company $61.7m"

Rather than passing along 100 per cent of customers’ tips to drivers, as it had promised to do, Amazon used the money itself,” said Daniel Kaufman, acting director of the FTC’s Bureau of Consumer Protection.