How much Amazon stock does Andy Jassy own? New CEO has most shares after Jeff Bezos
Andy Jassy takes over from Jeff Bezos as the head of the controversial e-commerce giant with a massive net worth, but he's still no billionaire
Amazon Inc. has replaced former CEO Jeff Bezos the billionaire with longtime employee Andy Jassy. Previously head of Amazon Web Services (AWS), Jassy formally took over the reins of Amazon on Monday, July 5, decades after Bezos founded the company. The former CEO will remain on Amazon's board but is moving away from day-to-day operations to take care of other pet projects - like Blue Origin, climate change, and The Washington Post.
Bezos announced his shocking stepping down in February, amidst a large number of scandals. In June, ProPublica found the world's richest man claimed $4000 in tax credits for his children in 2011, despite being worth $18 billion at the time. In May, Bezos scandalous affair with TV star Lauren Sanchez came to light, after he divorces his wife Mackenzie in a rather public fallout. And of course, who can forget the infamous penis selfie of Bezos that kick-started the public's interest in the affair?
Jassy though will take over without that kind of baggage. He's made a name for himself at the company with little fanfare but now faces an increasingly hostile regulatory environment. That should be quite a challenge for the millionaire, who comes in after being gifted a large amount of Amazon stock.
What is Andy Jassy's net worth?
Having spent 24 years at Amazon, Jassy has quietly accumulated a large amount of wealth. According to Forbes, Jassy was paid $349,000 in 2019 for his role as head of AWS. As a loyal employee, he currently owns more stock at Amazon than anyone else, barring Bezos. Forbes noted Jassy held 81,500 shares, worth about $275 million. He is estimated to have another $162 million from cash and investments. Those figures total to give a net worth of around $440 million.
Of course, Jassy isn't alone. Other top executives at Amazon also own an immense amount of stock, but nowhere near what Bezos owns, even after his divorce settlement. Nonetheless, the shares are a major source of Jassy's wealth, just like with other executives like Jeff Blackburn and Jeff Wilke. They are all part of a select club of employees to become millionaires from stocks alone.
No one can deny Jassy's value to Amazon. In his role as head of AWS, Jassy has turned AWS from a small upstart into a 0.5 trillion dollar business. So what does he do with all that cash? It's hard to tell. We do know Jassy bought a $3.1 million home in Seattle in 2009. Then in 2020, he dropped $6.7 million for a "starter home" in Santa Monica. The LA residence has just a mere 5,500 square feet of living space, compared to his Seattle home's 10,000 feet. That however doesn't seem to bother Jassy, who spends little time in the city.
Jassy has also invested some wealth in Seattle Kraken, the city's NHL franchise. In 2018, he spent an undisclosed amount to acquire a minority stake in the hockey team. It's unclear where else Jassy has invested or spent his cash, but you can bet this isn't the full story. Not when you are worth nearly half a billion.