Who is Andy Jassy? Here's how much Amazon's new CEO is worth as Jeff Bezos prepares to step down by late 2021
When is a good time to give yourself a break? Jeff Bezos has decided now is a good time to step back and enjoy some of those billions of dollars he has made. In an announcement to the press, Bezos said he would step down from his role and transition to the executive chair of the company. According to the Bloomberg Billionaires Index, Bezos is currently the second-richest man in the world, with a net worth of about $188 billion.
In a letter posted on Amazon, Bezos wrote: "Fellow Amazonians: I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO. In the Exec Chair role, I intend to focus my energies and attention on new products and early initiatives. Andy is well known inside the company and has been at Amazon almost as long as I have. He will be an outstanding leader, and he has my full confidence."
Andy Jassy, who has till now headed the Amazon Web Services division, will take over as the company’s CEO. The move will take effect in the third quarter of 2021.
Who is Andy Jassy and how much has he earned?
Andrew R. “Andy” Jassy, 52, currently the CEO of Amazon Web Services (AWS), helped in the development of Amazon Web Services (AWS) since its inception. Jassy joined Amazon in 1997 as a marketing manager. In 2003, he founded Amazon Web Services (AWS), with a team of 57 people. By April 2016, Jassy was promoted from senior vice president to CEO of AWS.
As of November 2020, Jassy's estimated net worth is $377 million. Jassy has made over 50 trades of the Amazon.com stock since 2011, according to the Form 4 filed with the SEC. Jassy owns over 2,791 units of Amazon.com stock worth over $280,440,790 and over the last 14 years he has sold Amazon stock worth over $113,699,575. In addition, he also makes $348,809 as Chief Executive Officer of Amazon Web Services at Amazon.com.
Jassy is the son of Margery and Everett L. Jassy of Scarsdale, New York. He is Jewish with Hungarian ancestry. His father was a senior partner in the corporate law firm Dewey Ballantine in New York, and also the chairman of the firm's management committee. Jassy attended Scarsdale High School in the town he grew up in. He then graduated with honors from Harvard College, where he was the advertising manager of The Harvard Crimson, before receiving an MBA from Harvard Business School.
Who is Andy Jassy married to?
Andy Jassy married Elana Rochelle Caplan, a fashion designer, in 1997. They have two children, according to Jassy's Twitter bio. The couple held their wedding ceremony in Santa Monica, and their wedding was officiated at Lоеwѕ Ѕаntа Моnіса Веасh Ноtеl. Caplan, 52, is a graduate of Philadelphia College of Textiles and Science. Caplan is not only a fashion designer for Eddie Bauer Inc., a clothing retailer in Seattle but also a marketing manager at Amazon.
Andy Jassy's opinions on facial recognition
Both Sundar Pichai, CEO of Google and Alphabet, and Satya Nadella, Microsoft CEO, who were both promoted to their current positions, tweeted their congratulations. Pichai wrote: "Congrats @JeffBezos, best wishes for Day 1 and Earth fund. Congrats @ajassy on your new role!", while Nadella tweeted: "Congratulations to @JeffBezos and @ajassy on your new roles. A well-deserved recognition of what you have accomplished."
However, not everyone was pleased with Jassy's elevation to the top post because of his views on the controversial facial recognition software Amazon Rekognition that AWS pioneered under Jassy. One tweet quoted a PBS documentary on Amazon, saying: "The incoming Amazon CEO Andy Jassy on facial recognition and potential police abuse: 'Let's see if they somehow abuse the technology. To assume they're going to do it and therefore you shouldn't allow them to have access ... doesn't feel like the right balance to me'" and a clip from the documentary with the caption: "Another moment from the interview where Jassy says Amazon would sell its facial recognition to foreign governments (that they're legally allowed to)"
The incoming Amazon CEO Andy Jassy on facial recognition and potential police abuse: "Let's see if they somehow abuse the technology. To assume they're going to do it and therefore you shouldn't allow them to have access ... doesn't feel like the right balance to me" pic.twitter.com/uEwykyRVh7— alfred 🆖 (@alfredwkng) February 2, 2021
Would highly encourage you to watch the full documentary from PBS on Amazon https://t.co/6vVqSLaLmY— alfred 🆖 (@alfredwkng) February 2, 2021
Another moment from the interview where Jassy says Amazon would sell its facial recognition to foreign governments (that they're legally allowed to): pic.twitter.com/SfDOCUZxqf
In June 2020, Amazon had agreed to a one-year moratorium on police use of its facial-recognition technology, yielding to pressure from police-reform advocates and civil rights groups.
Is Jeff Bezos entirely out of the picture?
In a single word, nope. Bezos in his letter wrote: "As Exec Chair I will stay engaged in important Amazon initiatives but also have the time and energy I need to focus on the Day 1 Fund, the Bezos Earth Fund, Blue Origin, The Washington Post, and my other passions. I’ve never had more energy, and this isn’t about retiring. I’m super passionate about the impact I think these organizations can have." He signed off with a humble "Jeff".