Jeff Bezos established himself as one of the richest men on earth as a result of running Amazon for the last 27 years. Since the multi-national technology company’s launch in 1995, Amazon has become one of the “most valuable, powerful” corporations with a market value of $1.56 trillion, per Business Insider. The internet entrepreneur is handing his crown over to a new CEO, however. Bezos announced he was leaving the role in a memo to employees on Feb. 2, 2021, according to CNN. The company revealed Andy Jassy, the chief executive of Amazon Web Services, will replace Bezos during the third quarter of this year, which starts on July 1.
In his memo, Bezos noted his transition from CEO to the role of executive chair will give him the “time and energy” to focus on “passions” and other projects, including “the Day 1 Fund, the Bezos Earth Fund, Blue Origin, [and] The Washington Post,” his statement read, according to CNN. “I’ve never had more energy, and this isn’t about retiring.” Bezos also revealed he was looking forward to being replaced by Jassy. “Andy is well known inside the company and has been at Amazon almost as long as I have,” Bezos praised Jassy. “He will be an outstanding leader, and he has my full confidence.”
Jassy has worked for Amazon before the company went public, so on top of his plethora of experience, he also has a hefty bank account. Keep scrolling to find out Jassy’s net worth.
Andy Jassy received a hefty sum of stock awards
It’s probably safe to say Andy Jassy’s will skyrocket when he takes over the role of Amazon CEO. As of right now, the technology exec’s net worth is estimated to be $400 million, according to Celebrity Net Worth, and it’s still unclear what Jassy’s salary will look like when he steps into Bezos’ position.
Jassy’s hefty net worth is attributed to his decades-long career in technology. The New York native was raised in Westchester County, and he went on to earn his bachelor’s degree and master’s degree from Harvard University. In 1997, he joined Amazon as a marketing manager, per his LinkedIn. Jassy has been apart of the Amazon team ever since, and he’s accomplished some amazing things during his years of service. According to CNBC, he has helped generate more than $35 billion in annual revenue, as well as $7 billion in operating income, since being named the CEO of Amazon Web Services in 2016. The businessman founded AWS, which he previously served as the senior vice president of, alongside a team of 57 people in 2003.
In recent years, Jassy has made an exponential amount of money. Though his salary was $348,809 in 2019, he took home more than $19 million in stock awards, SEC filings show, per CNBC. As of this writing, he owns about 85,000 shares, which are valued at $287.3 million.
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