JEFF Bezos, 57, is expected to step down as chief executive of the e-commerce giant, Amazon.
The change will take place in the second half of 2021, the company said.
“Being the CEO of Amazon is a deep responsibility, and it’s consuming. When you have a responsibility like that, it’s hard to put attention on anything else,” Mr Bezos said in a letter to Amazon staff on Tuesday.
“As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions.”
“I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organisations can have,” he added.
Bezos has become a world billionaire worth $196.2bn, according to the Forbes list.
He has led Amazon since its start as an online bookshop in 1994.
The firm now employs 1.3 million people globally and has its hand in everything from package delivery and streaming video to cloud services and advertising.
Bezos, however, will be replaced by Andy Jassy, who currently leads Amazon’s cloud computing business.