What happened last week? Elon Musk moved markets, Jeff Bezos announced his departure, and the Obamas said they were making new content for Netflix.

• What happened last week? Elon Musk moved markets with his tweets.
• Jeff Bezos announced he was stepping down as Amazon CEO. 
• Netflix and the Obamas announced new projects.
• Visit the Business section of Insider for more stories.

What happened last week? 

Elon Musk moved markets with his tweets 

In the days after Tesla CEO Elon Musk told his 44.8 million Twitter followers that he was stepping away from the platform “for a while,” he posted a series of tweets that moved markets.

Read more: One chart shows how Elon Musk can create a huge amount of wealth with just his Twitter

In the following days, Musk tweeted about Dogecoin, sending the cryptocurrency up 50%. Late Saturday, he posted about Dogecoin again, pushing it to another new all-time high.

His “Gamestonk!” tweet in late January had reportedly made millions for GameStop investors, including a hedge fund that made $700 million on the stock. 

Jeff Bezos announced he was stepping down as CEO

Amazon CEO Jeff Bezos on Tuesday said he would step down as CEO later this year. The announcement came as Amazon reported record quarter sales topping $100 billion for the first time. 

"As much as I still tap dance into the office, I'm excited about this transition," he said in a letter to staff. 

Read more: Amazon employees say they were caught off guard by Andy Jassy's promotion, but some think they know who the next AWS CEO will be

Amazon Web Services CEO Andy Jassy was tapped to replace Bezos, who will take on a new role as executive chairman. 

The Obamas and Netflix announced new projects

Netflix announced new projects from Barack and Michele Obama's Higher Ground productions, including an adaptation of "Exit West," the bestselling novel from Mohsin Hamid. 

Read more: Netflix is the streaming leader, but its US market share shrank in 2020 as competitors like Disney Plus and HBO Max emerged

ICYMI

Luckin Coffee, a Chinese Starbucks competitor, filed for US bankruptcy protection on Friday.

The chain had more than 2,300 stores in China when it filed for a US-listed IPO in April 2019, but was found by the US Securities and Exchange Commission to have "intentionally fabricated" more than $300 million in retail sales. The company's US stock was delisted from the Nasdaq exchange last summer. 

Here's what happened the week before last. See you next week.