Amazon founder Jeff Bezos.REUTERS/Clodagh Kilcoyne
- Jeff Bezos is stepping down as Amazon CEO in the third quarter of this year.
- Big moments from his last 26 years include taking Amazon public and blocking a blackmail attempt.
- He also became the world's richest person, bought the Washington Post, and launched a space company.
In the 26 years he's run Amazon, Jeff Bezos has had some major, headline-making moments.
From weathering the dot-com crash and a major tabloid scandal to buying the Washington Post and launching his own space company, Bezos has successfully steered Amazon toward a $1.6 trillion market value while building a personal fortune worth $193 billion.
Now, Bezos is stepping aside from his role as CEO, becoming Amazon's executive chairman in the third quarter of 2021.
Read more: The 3 biggest challenges Andy Jassy will take on as Amazon's new CEO, according to experts
With Bezos' departure from the helm of Amazon imminent, here's a look back at some of his wildest, most headline-grabbing moments, both personal and professional.
In 1994, after seeing that the web had grown 2,300% in a single year, Bezos quit a lucrative job at hedge fund D.E. Shaw to sell books online.
Jeff Bezos in 1997.
Paul Souders/Getty Images
Although his boss at the firm tried to persuade Bezos to stay, he was already determined to start his own company — he felt he'd rather try and fail at a startup than never try at all, according to Brad Stone's book, "The Everything Store."
Bezos and his then wife, MacKenzie, drove from Texas to Seattle and set up shop in a garage. Amazon was born.
After a few years of rapid growth, Bezos took Amazon public on May 15, 1997.
Frank Micelotta/Getty Images
In Amazon's S-1 filing, it described itself as "the leading online retailer of books" and employed just 256 people.
The IPO raised $54 million, giving Amazon a valuation of $438 million.
A few months later, Bezos hand-delivered Amazon's millionth order to a customer in Japan.
The customer had purchased a manual for Microsoft Windows NT and a biography of Princess Diana.
In 1999, on the cusp of the new millennium, Time named Bezos its "Person of the Year" for his role in making online shopping available to the masses.
When the dot-com crash happened a year later, Wall Street predicted it would be the end of Amazon, with Barron's famously describing the retailer as "Amazon.bomb."
"In early 1996 we were called Amazon.con, in '97 Amazon.toast, and in 1999 it was Amazon.bomb," Bezos told Fortune in 2000. "Then there was my personal favorite — Amazon.org, because clearly we're not for profit."
But Bezos had the last laugh as Amazon's competitors flamed out one by one. According to Stone's book, a deal to sell convertible bonds to European investors gave Amazon enough cushion to make it through the dot-com crash.
In September 2000, Bezos launched Blue Origin, a commercial spaceflight company.
Isaiah J. Downing/Reuters
Throughout the 2000s, Bezos and company launched major new products and businesses for Amazon, including membership service Prime, the Kindle e-reader, the Echo smart speaker, and cloud-computing service Amazon Web Services, now known as AWS.
Bezos holds up Kindle Fire devices in 2012.
Gus Ruelas/Reuters
AWS hit over $12 billion in revenue in the fourth quarter of 2020, while Amazon's total revenue surpassed $100 billion for the first time in Q4, spurred by the success of Prime Day, Amazon's annual shopping holiday for Prime members.
Bezos bought the Washington Post for $250 million in 2013, famously making an offer without doing any due diligence.
Bezos purchased the Washington Post in 2013.
Chip Somodevilla/Getty Images
Bezos told Business Insider in a 2014 interview that while he didn't know anything about the newspaper business, "I did know something about the internet. That, combined with the financial runway that I can provide, is the reason why I bought The Post."
Since then, Bezos has taken a hands-on approach to the business and technology sides of the Post, spearheading a turnaround for the nearly 150-year-old publication.
In 2016, Bezos flew his personal jet to Germany to pick up and bring home Jason Rezaian, a Washington Post reporter who had been imprisoned in Iran.
A #JasonisFree banner hangs from the entrance of the Washington Post after reporter Jason Rezaian was released from 18 months in prison in Iran.
Gary Cameron/Reuters
Rezaian served as The Post's bureau chief in Tehran before being imprisoned in 2014 on espionage charges. Rezaian was freed 18 months later after a historic prisoner exchange between the US and Iran.
He flew to an American military hospital in Germany where Bezos met him before flying Rezaian and his family back to the US on his private jet.
Bezos became the world's richest person for the first time in 2017, surpassing Microsoft founder Bill Gates. At the time, his net worth was more than $90 billion.
Jeff Bezos.
David Ryder/Getty
Since then, Bezos wealth has surged roughly $100 billion — Bloomberg pegs his current net worth at $193 billion, making him the world's second-richest person after Tesla and SpaceX CEO Elon Musk.
Bezos became an internet meme after photos surface in 2017 of him with a noticeably buffer physique and stylish new look.
Bezos at the third day of the annual Allen & Company Sun Valley Conference in 2017.
Drew Angerer/Getty Images
Bezos had attended the annual Allen & Company Conference in Sun Valley, Idaho, prior to 2017, but his appearance that year, soon after he became the world's richest person, became an internet sensation.
Bezos looked noticeably muscular, and his stylish vest and designer sunglasses were a major change from his previous, more bookish appearance. The photo instantly became a meme as people called out how much his look had changed since the early days of Amazon.
That year, Bezos launched a nationwide competition for Amazon's next headquarters, HQ2, after reportedly being inspired by a similar move Elon Musk had made.
Bezos, left, and Elon Musk.
REUTERS/Joshua Roberts
In September 2017, Amazon launched its nationwide search for HQ2, creating a bidding war among dozens of North American cities to provide the best incentives to the ecommerce giant.
Amazon's focus on raking in those incentives was inspired by Elon Musk's success in Nevada, according to Bloomberg. Musk launched a competition in 2014 for Tesla's Gigafactory, a battery plant he promised would create thousands of jobs. (Nevada ultimately won the plant after pledging a record $1.3 billion in incentives.)
Amazon ultimately selected Queens, New York, and Arlington, Virginia, as the winners for HQ2, but the deal in New York fell apart after outcry from local politicians.
In early 2019, Bezos wrote an incendiary blog post accusing National Enquirer publisher AMI of blackmail and revealing detailed descriptions of risqué photos he had sent to his girlfriend.
Former AMI publisher David Pecker, left, and Bezos.
Getty/Marion Curtis/AP/Joe Raedle/Business Insider composite
Bezos and his wife, MacKenzie, announced in January 2019 that they were divorcing. Hours later, the National Enquirer and Page Six reported that Bezos had been dating TV host and helicopter pilot Lauren Sanchez.
The Enquirer said it had conducted a months-long investigation into Bezos and Sanchez's relationship and had obtained texts and explicit photos the couple had sent to each other.
One month later, Bezos dropped a bombshell of his own: an explosive blog post titled "No thank you, Mr. Pecker," in which he accused Pecker and AMI of trying to blackmail him with the publication of his explicit photos.
"Rather than capitulate to extortion and blackmail, I've decided to publish exactly what they sent me, despite the personal cost and embarrassment they threaten," Bezos wrote.
After the killing of George Floyd last year and the protests that followed, Bezos was outspoken about his support for the Black Lives Matter movement.
Protesters gather at a memorial for George Floyd where he died in Minneapolis.
AP Photo/John Minchillo
Bezos was called to testify before Congress for the first time in July 2020 over Amazon's treatment of third-party sellers.
Mandel Ngan-Pool/Getty Images
Bezos announced in February 2021 that he will be stepping down in the third quarter. Andy Jassy, who currently serves as CEO of AWS, will take his place.
Mike Blake/Reuters; Mark Ralston/AFP/Getty Images
In a letter to Amazon employees, Bezos announced he would transition to the executive-chairman role and focus on "new products and early initiatives."
"Being the CEO of Amazon is a deep responsibility, and it's consuming," Bezos wrote. "When you have a responsibility like that, it's hard to put attention on anything else."
Bezos said that while he would still be involved in important initiatives at Amazon, he planned to spend more time on philanthropy — including the Bezos Earth Fund and his Day One Fund — as well as his two other major endeavors: The Washington Post and Blue Origin.