Andy Jassy Net Worth: Is The Amazon New CEO as Wealthy as Jeff Bezos?
By Erika Dee
Who is Andy Jassy, Amazon's new and upcoming CEO? In all his years with the company, was he able to amass a grand fortune like Bezos, undoubtedly one of the richest men in the world today?
Andy Jassy's Net Worth
Although few would know who Andy Jassy is, because Jeff Bezos is more associated with the giant online marketplace, his vallue to the company, and personal net worth cannot be scoffed at.
He has led Amazon's Webs Services Cloud team since its creation in 1997 and serves as its CEO, which means his work for the company is valuable, as reported by Express UK.
With such a key role, Andy Jassy was able to acquire a net worth that cannot be considered little. He has been serving the highly successful company for the last 23 or so years, after all.
Most of his earnings can be described as being derived from restricted stock shares, amounting to tens of millions annually.
According to Wallmine, an investing research platform, Mr Jassy's personal net worth is "at least" $394 Million, as of November 2020. Through the months, this could have increased.
The site further detailed that Mr Jassy's net worth is not only because of his salary. He makes money too by selling stock.
According to the site, Jassy owns 2,791 units of Amazon stock, which can be calculated as roughly $280,440,790, if not more.
Jassy reportedly already sold more than $113 million (£83 million) of the stock he owns.
How does Andy Jassy Make Money?
Annually, his salary as the CEO of AWS reaches $348,809. For the ordinary employee, this number is only aspired for.
Remarkably, Jassy once out-earned Mr Bezos one year, following stock awards in 2016. Jeff Bezos is now transitioning to the role of executive chair when the third quarter of 2021 rolls around.
AWS has done remarkably for the success of Amazon. This division was able to bring in a total of $12.2 billion in profits four years ago, providing him a massive stock bonus.
He received a total of $35.4 million (£25.9 million) in stocks at the time. Under his helm, his division became one of the most profitable at Amazon. This naturally comes with its own monetary and non-monetary rewards.
Wallmine further claimed that Jassy was able to make various high-profile stock trades, most notably during the time when AWS returned record profits.
"The largest trade he's ever made was selling 14,000 units of Amazon.com stock on 22 September 2016 worth over $11,200,000," Wallmine stated. "On average, Andrew trades about 4,083 units every 41 days since 2006," it added.
As of November 13, 2020, Jassy still has with him at least 82,115 units of Amazon.com stock, which can make him richer the moment he sells them.
He might not even need to. His role as the newest CEO is bound to have its perks. Jeff Bezos is confident that this successor will do amazing things for the company, because Jassy has been serving as long as he has been.
"Andy is well known inside the company and has been at Amazon almost as long as I have," Bezos said. "He will be an outstanding leader, and he has my full confidence," he added.