Being accountable for the world’s largest on-line retailer takes great abilities and information of the corporate’s operations. Andrew R. Jassy is among the many few workers at Amazon.com Inc. (AMZN) – Get Free Report who’ve stayed for the reason that firm’s adolescence, and he’s now its chief govt.
Having joined in 1997 armed with an MBA, Jassy was nicely suited to develop with the corporate, from strictly promoting books to shoppers on-line to increasing into industrial providers comparable to cloud computing, which accounted for 16% of Amazon’s complete income in 2022.
But who’s Jassy, and the way did he turn into one of many wealthiest executives within the U.S.?
Related: Jeff Bezos’s web value: How Amazon’s founder spends his billions
Who is Andrew Jassy?
Andrew “Andy” Jassy was born in 1968. He is president and chief govt officer of Amazon, taking on these roles from founder Jeff Bezos, who stepped down from managing day-to-day affairs in 2021 to pursue his private ventures.
Jassy was among the many early workers of Amazon, having joined in 1997 in advertising and marketing, and he has taken on many roles since then, main all the best way to the C-suite. As one of many longest-serving workers who has labored carefully with Bezos, he has helped to take care of continuity within the operations of Amazon.
Jassy based Amazon Web Services (AWS), which oversees the corporate’s cloud computing providers, from its inception, and he served as its CEO from April 2016 till July 2021. He is a graduate of Harvard University, each on the undergraduate degree and at its enterprise college. Before taking on as CEO, Jassy, for a time, shadowed Bezos to grasp what it took to handle Amazon.
What is Andrew Jassy’s web value?
Jassy’s web value is primarily tied to the shares in Amazon he owns. Other than Jeff Bezos and his ex-wife, and relations, Jassy is among the many firm’s largest particular person shareholders. As of a November 2023 submitting with the Securities and Exchange Commission, Jassy owned 12.5 million frequent shares in Amazon, which he collected as a part of compensation all through his profession on the firm, and these account for 0.12% of the corporate’s excellent inventory.
In late December, Jassy’s frequent shares in Amazon had been valued at $1.9 billion, making him one of many wealthiest CEOs in America. By comparability, Jamie Dimon — who’s CEO of JPMorgan Chase & Co. (JPM) – Get Free Report, the most important financial institution within the U.S. — was awarded shares by incentive-pay packages, and his stake is massive sufficient to make him a billionaire.
Jassy additionally has 1.2 million restricted inventory items (RSUs), given to him as a part of his govt compensation. According to Amazon’s 2023 report, his 2021 RSU award vests over 10 years from grant, from 2023 by 2031, with greater than 80% of the shares scheduled to vest from 2026 by 2031.
An actual-time seize of Amazon CEO Andrew Jassy’s wealth primarily based solely on his stake in Amazon may be discovered right here.
What is Andrew Jassy’s wage as Amazon’s CEO?
Jassy had a wage of $317,500 in 2022, his first full yr as CEO, and that quantity is up from $175,000 in 2021. While he was awarded no inventory, complete compensation amounted to $1.298 million.
The absence of a inventory award might be associated to the corporate’s bottom-line efficiency. In 2022, Amazon posted a lack of $2.7 billion on income of $514 billion. The loss was tied to $12.7 billion in bills from its funding in electrical car producer Rivian Automotive Inc. (RIVN) – Get Free Report, which provides battery-powered vehicles for Amazon’s supply service.
How has Amazon’s inventory carried out since Jassy took over as president and CEO?
Jassy took over as president and CEO of Amazon on July 5, 2021, and from then till the top of 2023, Amazon’s inventory misplaced 13%, in comparison with the S&P 500 Index’s 9.9% achieve.
A $10,000 funding in Amazon inventory from the time Jassy turned CEO would have been value $8,700 by the top of 2023.
Is Andrew Jassy a billionaire?
Jassy has sufficient inventory in Amazon to make him a billionaire twice over. His inventory holdings make him one of many wealthiest CEOs within the U.S. as a consequence of his tenure as one of many earliest workers at Amazon who has been awarded inventory all through his greater than 25-year profession on the firm.
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