Have you ever wondered what the Net Worth of Andrew Jassy is? Well, the new CEO of Amazon is worth a fortune.
After over 20 years of working for amazon, Jassy was promoted to president and CEO, growing his fame and popularity immensely.
As of May 2023, Jassy has a net worth of $400 million.
This post will illustrate how he achieved such great success.
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Jassy grew up in Scarsdale, New York, a posh suburb 20 miles north of Manhattan.
His father used to work at the Manhattan law firm Dewey Ballantine and his mother, Margery, was a trustee of the child theater group TheaterWorksUSA.
Jassy received his undergraduate and MBA degrees from Harvard University. while doing so, he worked as a project manager at the collectibles company MBI.
Jassy joined Amazon as a marketing manager in 1997, among several other Harvard MBA classmates.
He and Jeff Bezos dreamed of the cloud computing architecture that would become Amazon Web Services (AWS) in 2003 and debuted in 2006. Jassy led the 57-person team.
Jassy was voted Person of the Year by the Financial Times in March 2016.
A month later, Jassy was promoted from senior vice president to CEO of Amazon Web Services. That year, He earned an astounding $36.6 million.
In 2020, Jassy was paid a base salary of $175,000 as CEO of Amazon Web Services, as well as a restricted stock unit award of 4,023 Amazon shares (a value of $12,104,844.93 as of July 26, 2020, with vesting beginning in 2023).
In addition, in April 2018, he received a restricted stock unit award for 10,000 shares (worth $30,089,100 as of July 26, 2020), with 37.5 percent vesting in 2021, and 12.5 percent vesting in 2022, 37.5 percent vesting in 2023, and 12.5 percent vesting in 2024.
Bezos picked Jassy as his official successor as CEO in January 2021, and the announcement was made during the Q4 earnings release on February 2.
The transition was initially scheduled for Q3 2021, but on May 26, the timing was changed to July 5. Jassy assumed the role on the same day that Bezos founded the company in 1994.
He was paid $212.7 million in his first year as CEO of Amazon, a considerable increase from his salary in 2020.
Jassy holds over 1,250 Amazon shares (worth $313 million in total) and is thought to have sold approximately $113 million in stock over the last 15 years. He also earned $348,809 as CEO of AWS.
Except for Bezos, Jassy holds more Amazon shares than anyone else. Jassy owned 81,500 shares, according to Forbes.
Amazon stated in July 2021 that when Andy Jassy takes over as the online retailer’s second CEO, he will receive 61,000 shares. The shares will vest over a ten-year period.
Believe it or not, Jassy has other passions outside of Amazon. He is a huge New York sports fan and even built a sports bar in his place!
In 2018, Jassy teamed up with Seattle Hockey Partners, an investment group hoping to bring an NHL hockey team to Seattle.
Jassy brings the group financial backing and tech credibility, and the move furthers the effort to secure a professional sports franchise just a few blocks from the tech giant’s headquarters.
President of Seattle Hockey Partners, Tod Leiweke, was ecstatic about adding Jassy to the team.
He praised Jassy for his knowledge of the tech industry and his one-of-a-kind leadership which is rare to come by.
Andrew Jassy Net Worth 2023
As of May 2023, Jassy has a net worth of $400 million. The majority of his wealth is from his shares in Amazon.
Like Elon Musk’s Tesla, Amazon is a leader in its respective industry, and Jassy hopes to keep Amazon one of the world’s most successful companies.
As time goes on it’s fairly safe to say that Amazon will continue to grow, and Jassy’s worth should grow along with it.
Frequently Asked Questions (FAQs)
How much does Andy Jassy make a year?
While his yearly salary from Amazon is unclear, in 2021, he earned around $213 Million.
Who is Andrew Jassy married to?
Jassy is married to Elana Rochelle Caplan.
What is Jeff Bezos Worth?
Jeff Bezos’s net worth is $166.4 billion.
How old is Andrew Jassy?
Andrew Jassy is 54 years old.
It took Jassy over twenty years to reach the absolute top of his company.
Whatever goal, or dream you have in mind, know that it takes time and a lot of work. Good things should be coming as long as you keep doing the work.
Investing is powerful
Jassy’s shares within Amazon are the most prominent reason for his astounding wealth. Although, he works for the company and was given shares.
The importance of investing shouldn’t go unnoticed, and it’s crucial to support and prepare yourself for the future.