On Tuesday, it was reported that Amazon CEO and founder Jeff Bezos would be stepping down from his position as CEO later this year. Andy Jassy, Amazon Web Services CEO, will take his place. On the heels of this news, you might have questions about who exactly Jassy is. More particularly, here’s what you need to know about Jassy’s finances.
Jassy joined Amazon in 1997, three years after Bezos founded the company, which was originally an online bookstore. While Bezos may be worth billions, he actually isn’t the highest earner within Amazon — that title goes to Jassy. According to Tech Times, which published an article about the Amazon executives in 2017, the future Amazon CEO was the top executive when it came to salary. In 2016, Amazon Web Services was the most profitable division within the company. As a result, Jassy took home a salary of $179,000.
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Even though his salary as the Amazon Web Services CEO was $179,000 as of 2017, Jassy has made a bundle in stocks. The publication noted that he had $35.4 million in stocks, as he owns over 2,791 units of Amazon.com stock. That figure is still a far cry from the total of the executive’s net worth. WallMine noted that as of November 2020, Jassy’s net worth was around $394 million. Jassy is set to take over for Bezos as Amazon’s CEO in the third quarter of this year.
Bezos penned a lengthy message to his “fellow Amazonians” about stepping down from his role as the company’s CEO. He will subsequently transition to executive chairman of Amazon’s board. Bezos noted that this change will allow him to spend more time on his Bezos Earth Fund, his Blue Origin spaceship company, The Washington Post, and the Amazon Day 1 fund. He began his statement with, “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence.” Bezos concluded by noting that with these changes, and with the direction that Amazon is going in, the company “couldn’t be better positioned for the future.”
