![]() Bezos, 54, is worth $137 billion, according to the Bloomberg Billionaires Index, a ranking of the worlds 500 wealthiest people. founder Jeff Bezos, the worlds richest person, and his wife MacKenzie are divorcing after 25 years. Jassy told CNN in December that, “virtually every vertical business segment is being reinvented as we speak,” thanks to the cloud.įILE: Jeff Bezos, founder and chief executive officer of Inc., listens during an Economic Club of Washington discussion in Washington, D.C., U.S., on Thursday, Sept. That market is expected to further expand as the pandemic has accelerated a shift by many companies away from the costly and inefficient business of operating their own servers. The growth at AWS occurred under the leadership of Andy Jassy, the 24-year Amazon veteran who helped the company pioneer cloud computing and who has overseen AWS’s ascension to the top of the increasingly competitive cloud market. In the seven years since Bezos wrote that letter, operating income from AWS has skyrocketed 1,950%, compared with around 715% income growth in Amazon’s other business units combined. The service has also become the backbone of much of the internet, providing online infrastructure for everything from Peloton ![]() It has since become the company’s biggest moneymaker (although consumers may be more familiar with Amazon’s marketplace and its massive distribution network). ![]() Seven years later, that’s proven to be true, but perhaps for none more than Amazon Web Services.ĪWS started in 2003 as an effort to use technology built to run Amazon’s online store as an alternate revenue stream. Multiple Amazon businesses fit that bill, he added. “When you find one of these, don’t just swipe right, get married,” he wrote. In his 2014 annual letter to shareholders, Amazon CEO Jeff Bezos wrote that a “dreamy business offering” comprises at least four elements: “Customers love it, it can grow to very large size, it has strong returns on capital, and it’s durable in time - with the potential to endure for decades.” ![]()
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