The 57 year old has become one of the most respected and feared business leaders in the world and the richest, with the net worth of almost $200 billion and an email to employees basis wrote that being the CEO of Amazon is a deep responsibility, and it's consuming.

By stepping back, he'll find time to focus on his other projects, such as The Washington Post, which he bought in 2013 for $250 million or his rocket company, Blue Origin.

Bezos has invested heavily in this business but is lacking behind rival tech boss Elon Musk Space six.

Meanwhile, his successor, Andy Jassy, is set to inherit a business that is increasingly under attack for how it wields its platform to undercut or even drive competitors out of business for how it treats its sprawling network of 1.3 million employees who have complained of brutally long shifts, poor pay and unsafe conditions and warehouses as Amazon's influence in profit grow.

So due to the demands, terrain and its power, it now falls on Jassy.

Thio.

Answer those calls.

Let's get more now from Chelsea Delaney from D W Business.

Good to see you again, Chelsea.

Tell us, why is Jeff Bezos stepping down when his company is doing wonderfully Well, to some degree, this is the best time for Jeff Bezos.

Toe to step down.

The businesses is very strong, especially through the pandemic.

We've seen Amazon sales, its profits really booming.

So the foundation of Amazon is really on solid footing right now.

Eso it does make sense for him.

Thio say okay, now is the time for me, Thio, hand over the reins.

But we already have in the past couple of years seeing Jeff Bezos really seed over the day to day control of Amazon.

The running of the operations to some of his deputies, including, uh, Andy Jassy.

So we have seen this really developing over the past couple of years, but it also has to do with just the evolution of these big tech giants.

We've seen Apple.

We've seen, uh, Microsoft.

All of these other big tech giants have also seen their founder stepped down.

So it's something that happens has to happen at some point with these companies.

Jeff Bezos says that he really wants to take the time now to focus on his passion projects.

He's, for example, uh, really invested in The Washington Post.

He has, ah, Rocket start up sort of like Elon Musk.

So he wants time to to focus on those projects.

But he says he's still gonna be a really staying involved in the bigger questions that as an at Amazon, as the executive chairman, you mentioned Andy Jassy, who's going to be taking over as CEO.

What do we know about him?

Well, he's been in Amazon a long time, basically, since the beginning.

He joined in 97 what he's really known for is building this cloud business at Amazon, which is actually become the most profitable part of Amazon s.

So it is really big.

Uh, that's something they want to continue growing.

People say that he's a lot like Jeff Bezos.

They're sort of cut from the same cloth.

They're very focused on customers.

Uh, they're they're very detail oriented.

So in some to some degree, people do expect a sort of continuation of Jeff Bezos's management style.

Now regulators in the EU and the US are hell bent on on reigning in big tech, including Amazon.

It won't be that easy for Jesse Williams.

No, he's definitely gonna be facing a lot of challenges.

Uh, and actually, we've already seen at least one congressman in the USA, you know.

Congratulations, Andy, Jesse.

I have a lot of questions for you.

So it's sort of the criticism, the scrutiny that Jeff Bezos was facing about Amazon's practices, the way that it uses its power to undercut other retailers, as well as the questions about how it treats its workers, which we've seen really rise up during the pandemic.

Things.

Ah, lot of questions over the conditions and warehouses.

Uh, labor activists have been really eyeing Amazon as well.

So all of that scrutiny is definitely going to continue for nd Jesse, and he likely will have to be testifying in front of Congress at some point again soon.

So he's taking over a business that is growing.

But it's certainly one of the most challenging times in Amazon's history, and there is there are a lot of threats to even break Amazon up, so it's going to be a difficult road for him.

Very exciting story indeed.

Chelsea Delaney from D W Business.

Thank you very much.