JEFF BEZOS ON GOING TO GO VACATION FROM VACUUM, RETIREMENT TO SUPPORT SAVINGS NEWSLETTER

The former CEO of JPMorgan Chase and founder of the online brokerage firm GoFundMe said Tuesday that he will go to a retirement home to support his family in 2018, as he prepares to retire.

Jeff Bezos, who was president and chief executive officer of Amazon.com Inc. for more than 20 years before becoming the founder of Amazon, is retiring from the company.

The company announced the news Tuesday.

He told The Associated Press that he plans to live at a nursing home in Washington, D.C., for a year or so, and that his wife, Vanessa, will retire next year.

Bezos has said he will not be able to spend his days at Amazon as CEO, but he said his wife will stay involved with his philanthropic work.

In addition to his wife and his four children, Bezos is set to have one grandchild, and he has plans to start a family with his first wife, Marissa Mayer, who has worked as Amazon’s CEO since 2009.