Amazon’s Founder and former CEO Jeff Bezos happened to be the richest man in the world. What about the net worth of his replacement, Andy Jassy?
The news of Jeff Bezos stepping down as the CEO of Amazon, the firm he had founded and headed since 1994, came as a major surprise to the business world. There was, however, less of a gasp when Andy Jassy, one of Amazon’s most successful executives, was named as his successor.
The 53-year-old Harvard Business School grad, Jassy had joined Amazon in 1997– prompting Bezos to comment that Jassy had been around with the company almost as long as he had. Andy Jassy has so far been an effective and celebrated replacement of Jeff Bezos as the CEO of the company. According to the report by Bloomberg, CEO Andy Jassy has been invited to join the cybersecurity meeting of the White House on Wednesday. President Biden will be present for the meeting too and other attendees include Apple CEO Tim Cook and Microsoft CEO Satya Nadela.
Since the naming of Andy Jassy as the new Amazon CEO, there has also been talking about his net worth as well as interest in the lifestyle of the man who would replace the flamboyant Bezos.
Jassy worked as the technical assistant of Bezos prior to launching and heading the now successful cloud business of Amazon- Amazon Web Services (AWS) in 2006. He has been instrumental in driving profitability at this business unit of Amazon and has even outperformed the vast retail business of Amazon.
While gaining a name in the tech industry, the success of Andy Jassy at AWS has also generated interest in his lifestyle and net worth, exacerbated by him being appointed as the second CEO of Amazon.
What is the net worth of Andy Jassy?
While no complete or authentic data is available, it is estimated that the net worth of Andy or Andrew Jassy is at least $407 million as of 21 May 2021. It has been reported that Jassy owns more than 1,250 shares of Amazon that are worth over $286,036,846. He has sold amazon stocks worth $113,699,575 over the last 15 years.
According to the Bloomberg billionaires index, Jassy holds a net worth of roughly $500 million.
After he was made the chief of AWS in 2016, Jassey earned about $36.6 million. In the next few years, he was given a base compensation of $175,000 while also being offered a restricted stock unit award of 4,023 shares for his work as CEO of AWS in 2020.
He was also given a restricted stock unit award in April 2018 for 10,000 shares that are estimated to be valued at about $30,089,100 as of July 26, 2020, by Amazon with vested bonuses of 37.5% in 2021, 12.5% in 2022, 37.5% in 2023, and 12.5% in 2024.
How much does Andy Jassy make as the CEO of Amazon?
As the CEO of Amazon Web Services of Amazon.com, the total compensation that was awarded to Jassy was $348,809 which was the 13th highest with the company.
The base salary for Jassy as the incoming CEO of Amazon.com is $175,000 according to regulatory filings by the company. However, Jassy would also be awarded 61,000 shares of the company which is valued at about $200 million and which will pay out over 10 years, the filings showed according to reports.
All of this adds a major portion to Andy Jassy’s net worth.
How much does Andy Jassy own of Amazon?
Andy Jassy owns 94,797 shares of Amazon which is equivalent to 0.02 percent of all outstanding shares.
Andy Jassy- Early life and current lifestyle
Born on Jan 13, 1968, Andy Jassy grew up in Scarsdale and attended Scarsdale High School. He graduated with honors from Harvard College, where he was advertising manager of The Harvard Crimson. After graduating, he pursued an MBA degree from Harvard Business School. Jassy also worked as a project manager for a collectibles company, MBI, for a brief period prior to taking his MBA.
He joined Amazon in 1997, almost as soon as he completed his MBA, as a marketing manager.
“I took my last final exam at Harvard Business School, the first Friday of May in 1997 and I started at Amazon next Monday,” he said in an HBS podcast in January this year.
Interestingly, Jassy also owns a minority stake of the Seattle Kraken of the National Hockey League.
Jassy is credited for conceiving and launching AWS in 2003 and it’s blooming as one of the major global players in the industry. Jassy was promoted to the CEO of AWS from a senior vice president of the company in April 2016.
In 1997, Jassy married Elana Rochelle Caplan, a fashion designer for Eddie Bauer who is a graduate of the Philadelphia College of Textiles and Science. The couple has two children and lives in Seattle.
Jassy and his wife reside in the Capitol Hill neighborhood of Seattle in a 10,000-square-foot house that they had bought in 2009 for $3.1 million. There have also been reports of Jassy owning a $6.7 million 5,500-square-foot house in Santa Monica, California.
While mostly steering away from politics, Jassy is known to occasionally speak out on social issues. He has been vocal about the need for police accountability after Breonna Taylor, a Black woman, was slain in her home by white policemen during a botched raid. He has also tweeted in favor of LGBTQ rights.
Jassy was already one of the highest-paid executives at Amazon even before he was named the CEO of the company. Interest in the home that he lives in currently, worth $6.5 million and situated in Santa Monica, California, as well as in Andy Jassy’s lifestyle, has grown just like net worth since he was named the CEO of Amazon.
Jassy is a long-time hockey fan. The New York Rangers was his favorite team as a child. He is now a part-owner of the new National Hockey League expansion team – the Seattle Kraken.
Explaining the unusual name he gave to his hockey team, expected to join the league this year, in an interview to Fox news Jassy said: “It’s a very unique and unusual name in sports because almost all sports franchises end with an ‘S. There are a lot of obvious connections to Seattle — part because of our maritime history; part of because we have so much water around us — but there is long-time folklore in Seattle and the Pacific Northwest of this mystical Kraken creature that lives just below the surface of the sea, which really captivated people for many years.”
His passion for sports is such that Jassy has even built a sports bar inside his home, according to reports.