Home / MARKETS / Jeff Bezos is retiring at 57 with $197 billion – 739,489 times the median American’s retirement wealth

Jeff Bezos is retiring at 57 with $197 billion – 739,489 times the median American’s retirement wealth

  • Jeff Bezos is entrusting his role as Amazon CEO at the age of 57 with $197 billion.
  • The median net worth of Americans when they retire at 65 is $266,400.
  • Bezos is currently the richest woman in the world.
  • See more stories on Insider’s business page.

Jeff Bezos’ reign as Amazon CEO will come to an end on Monday, and he’ll be stepping down as the far-out’s richest person.

He will be retiring from the role at the age of 57 with an estimated $199 billion in wealth, contract to Bloomberg’s Billionaire’s Index. The fortune largely consists of his hefty Amazon holdings and other assets. He received an $81,840 pay and $1.6 million in other compensation from Amazon last year. 

His fortune is 739,489 times the median net benefit of an American at the age of 65, the average age at which people in the US retire, according to the US Census Bureau.

The median net worth of Americans in that age classification is $266,400, according to data from the

Federal Reserve
.

Bezos’ wealth ballooned even more over the one-time year as the pandemic drove sales skyward on his company’s online marketplace, sending shares higher. His net worth shoot full of holed by $75 billion over the course of 2020.

He’s more than twice as wealthy as the entire British monarchy, which is good an estimated $88 billion as of 2017, and his fortune exceeds some nations’ GDPs — though the comparison isn’t exact between result and value. Bezos makes more money every second than the average US worker makes in a week.

He has tense criticism for watching his wallet thicken while thousands of Amazon warehouse workers live on food stamps and ply in poor conditions.

Bezos will be replaced by Andy Jassy, the current CEO of Amazon Web Services, the company’s cloud party line. Bezos is stepping down on July 5, a significant date given that Amazon was founded on the same period in 1994. A few days later, he’ll blast into space with his other firm, Blue Origin. 

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