Jeff Bezos, founded Amazon.com Inc. nearly 30 years ago as an internet book seller in his garage and went on to become the world’s richest man. Now Amazon has now diversified into different businesses. Bezos will step down as CEO in the third quarter of 2021 and will become the  Executive Chairman. The next Amazon CEO will now be Andy Jassy. Jassy had joined Amazon in 1997. He founded Amazon Web Service and currently heads it. AWS has made the company extremely successful. Bezos posted a note for his employees on the Amazon website which said:  As the Executive Chairman I will continue to work at Amazon but I will also have time to focus on my other passion projects such as Bezos Earth Fund, The Washington Post etc. 

Since the start of the Coronavirus pandemic in the US, shops shut down so people turned to Amazon for delivery of home staples and medical supplies. To meet the demand they even hired 4 lakh more workers. Amazon has said that they have made profits in the billions.  

Bezos had said that if they invest in India, they will surely make huge profits and so Amazon decided to invest  $6.5 billion to grow its e-commerce business. On a visit to India in September 2014, he wore traditional sherwani, rode atop a truck and also posed with a giant cheque for $2 billion. He had said India ‘Amazed & Engerised’ him. 

Currently in India, business partners, Future Group & Amazon are at loggerheads. In 2019, Future Retail had signed a Rs 2,000-crore deal for Amazon to acquire 49 per cent stake in Future Coupons. In the deal, it said Future Group must Amazon take permission before entering into any sale agreement with third parties. Future Group has filed a case in the Delhi High Court against Amazon as it is not permitting Future group to sell some of its retail companies like big bazaar, future retail, etc to Reliance.

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