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Running the world’s largest online retailer requires a great deal of skill and knowledge about running a company. Andrew R. Jassy is one of Amazon.com’s few employees. (AMZN) – Get your free report They have been with the company since its inception, and he is now the CEO.
Jassy, who joined the company in 1997 with an MBA, has led the company from selling books exclusively to consumers online to expanding into commercial services such as cloud computing, which will account for 16% of Amazon’s total revenue in 2022. suitable for growing up with.
But who is Jassy and how did he become one of the richest business executives in America?
Related article: Jeff Bezos’ net worth: How the Amazon founder spent his billions
Who is Andrew Jassy?
Andrew “Andy” Jassy was born in 1968. He is Amazon’s president and chief executive officer, taking over the role from founder Jeff Bezos, who stepped back from managing day-to-day operations in 2021 to pursue personal business ventures.
It’s rewarding to be part of Amazon’s early employees and then work your way up to the top job. Andrew Jassy’s Amazon stock has made him more than twice as billionaire.
Kevin Winter & Sorghetti Images
Jassy was one of Amazon’s earliest employees, joining the marketing department in 1997 and has since held a number of leadership roles. As one of his longest-serving employees, he has worked closely with Bezos and helped maintain Amazon’s business continuity.
Jassy founded Amazon Web Services (AWS), which oversees the company’s cloud computing services, from its inception and served as the company’s CEO from April 2016 to July 2021. He is a graduate of Harvard University at both the undergraduate and undergraduate levels. business school. Before becoming CEO, Mr. Jassy followed Mr. Bezos to understand what it takes to run Amazon.
What is Andrew Jassy’s net worth?
Jassy’s net worth is primarily tied to the Amazon stock he owns. Outside of Jeff Bezos, his ex-wife and family, Jassy is one of the company’s largest individual shareholders. As of November 2023 filings with the Securities and Exchange Commission, Jassy owned 12.5 million shares of Amazon common stock, which he had accumulated as part of his compensation throughout his career at the company; It accounts for 0.12% of the outstanding shares.
In late December, Jassy’s Amazon common stock was valued at $1.9 billion, making him one of the wealthiest CEOs in the United States. In comparison, Jamie Dimon, CEO of JPMorgan Chase & Co. (J.P.M.) – Get your free reportthe largest bank in the United States, has acquired his stake through an incentive package, and his stake is enough to make him a billionaire.
Jassy also holds 1.2 million restricted stock units (RSUs) awarded as part of his executive compensation. According to Amazon’s 2023 report, the vesting period for his 2021 RSU awards is 10 years from grant, from 2023 to 2031, with more than 80% of the shares vesting from 2026 to 2031. I plan to.
A real-time look at Amazon CEO Andrew Jassy’s wealth based solely on Amazon stock can be found here.
How much is Andrew Jassy’s salary as Amazon CEO?
Jassy’s salary in 2022, his first full year as CEO, will be $317,500, up from $175,000 in 2021. Although he was not given any stock, his total compensation was $1,298,000.
The lack of stock compensation may be related to the company’s bottom line. In 2022, Amazon posted a loss of $2.7 billion on revenue of $514 billion. The loss was related to a $12.7 billion charge from an investment in electric vehicle maker Rivian Automotive. (Riven) – Get your free reportsupplies battery-powered trucks to Amazon’s delivery service.
What has happened to Amazon’s stock price since Jassy became president and CEO?
Jassy became Amazon’s president and CEO on July 5, 2021, and from then until the end of 2023, Amazon’s stock price fell 13%, while the S&P 500 index rose 9.9%.
If Jassy had invested $10,000 in Amazon stock from the time he became CEO, it would have been worth $8,700 by the end of 2023.
Is Andrew Jassy a billionaire?
Jassy owns enough stock in Amazon to become a billionaire twice. His stock holdings make him one of the richest CEOs in the United States, as he was one of the earliest employees at Amazon and has been awarded stock throughout his 25-year career with the company. There is only one person.
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