Who Is Andy Jassy – New CEO of Amazon: Biography, Personal Life and Net Worth

Rosemary July 09, 2021 | 09:38

Amazon has a new CEO to take the chair of Jeff Bezos. Who is the new CEO? How much is his net worth? Read on to know more about his biography.

Andy Jassy – New CEO of Amazon - Photo Jagran TV

The world’s richest man Jeff Bezos stepped down as Amazon’s CEO on July 4, 2021. Taking his position, American businessman and the CEO of Amazon Web Services Andrew R. Jassy has bcome the new CEO of International Giant Amazon.

Andy Jassy is also one of the minority owners of the Seattle Kraken of the National Hockey League and has led AWS since its inception in 2003. He took the chair of Amazon CEO on July 5, 2021. Meanwhile, Jeff Bezos will become the executive chairman of Amazon.

Andy Jassy Biography

Andy Jassy was born on 13 January 1968 and was graduated from Havard College. He was born and raised up in Scarsdale, New York, United States. In the year 1997, he joined Amazon as a Marketing Manager. He is also the owner of the National Hockey League.

Andy Jassy Early Life and Education

Andrew R. Jassy is the son of Margery and Everett L. Jassy of Scarsdale, New York. His family is Jewish and hails from Hungarian ancestry.

Jassy’s father Everett L. Jassy was a senior partner and chairman of the firm management committee in the corporate law firm Dewey Ballantine in New York. Jassy spent his childhood in Scarsdale and completed his Schooling at Scarsdale High School.

Jassy, who grew up in the affluent town of Scarsdale in New York state and went to Harvard University and Harvard Business School, joined Amazon in 1997 as it prepared to float on the stock market. “I took my last final exam of graduate school the first Friday of May 1997,” Jassy said in an interview with tech site Recode. “I started at Amazon the next Monday, I didn’t know what my job was going to be. I didn’t know what my title was going to be, but it was very important to them that I show up that Monday.” Amazon floated on 15 May 1997.

Andy Jassy pursued his graduation with honors cum laude from Harvard College in government. He was also the advertising manager of The Harvard Crimson and later did MBA from Harvard Business School.

Andy Jassy Family

Andy Jassy’s wife is Elana Rochelle Caplan, the couple together has two children.

Andy Jassy married Elana Rochelle Caplan in the year 1997. His wife is a fashion designer for Eddie Bauer. Elana did her graduation from the Philadelphia College of Textiles and Science, at the Loews Santa Monica Beach Hotel. Andy and Elana’s father were senior partners in the law firm Dewey Ballantine.

Their wedding was officiated by Elana’s cousin and New York Rabbi James Brandt. The couple has two children.

Andy Jassy Net Worth

Photo Geek Wire

Andy and his wife live in the Capitol Hill neighbourhood of Seattle in a 10,000-square-foot house bought in 2009 for $3.1 million.

It is also reported that Jassy owns a $6.7 million 5,500-square-foot house in Santa Monica, California. According to the Bloomberg billionaires index, Jassy holds a net worth of roughly $500 million.

In 2016, after taking the chair of AWS CEO, Jassey earned around $36.6 million. In the succeeding years, Jassy earned a base compensation of $175,000, plus a restricted stock unit award of 4,023 shares for his work as CEO of AWS in 2020. He also received a restricted stock unit award in April 2018 for 10,000 shares (value around $30,089,100 as of July 26, 2020) which vest 37.5% in 2021, 12.5% in 2022, 37.5% in 2023, and 12.5% in 2024.

In 2020, for his work as CEO of AWS, Jassy (a value of $12,104,844.93 as of July 26, 2020) of Amazon with vesting beginning in 2023. He also received a restricted stock unit award in April 2018 for 10,000 shares (a value of $30,089,100 as of July 26, 2020),[20] which vest 37.5% in 2021, 12.5% in 2022, 37.5% in 2023, and 12.5% in 2024.

Andy Jassy Career

Andrew R. Jassy pursued MBA from Hawrd after working for 5 years. He was a project manager for a collectables company, MBI. Andy and one of his MBI colleagues also founded a new company but later closed it down.

Andy joined the Multinational Giant Amazon in its initial stage in 1997. He was one of the marketing managers in the company.

In 2003 when Jeff Bezos initiated his idea of creating a cloud computing platform that today is Amazon Web Services (AWS), Jassy headed AWS and its team of 57 people. AWS was launched in 2006.

Person of the Year 2016

Andrew R Jassy was named a Person of the Year by the Financial Times in March 2016. In the same year, he was also promoted from senior vice president to CEO of AWS.

On February 2, 2021, it was announced that Jassy would be the new CEO of Amazon succeeding Jeff Bezos and Bezos will be transitioning to executive chairman of Amazon.

Other than Amazon, Jassy is also the chairman of Rainier Prep, a charter school in Seattle. For most of his time at Amazon, Jassy’s role was to act as Bezos’s “shadow” and “intellectual sparring partner”. However, he has shown himself more prepared than Bezos to use his platform to speak out on political and societal issues.

He has also spoken out in favour of greater equality for LGBTQ+ people, and against mass incarceration. “It’s nuts that the US has 5% of the world’s population and 25% of the imprisoned population,” he also said on Twitter. “And, the racial bias with which this incarceration is happening is awful.”

Critical to Jassy’s success has been his ability to attract all types of businesses and organizations to AWS products, offering services for the smallest of start-ups and the world’s largest enterprises, like Apple. Along the way, he’s won business from the Central Intelligence Agency and Democratic National Committee. In recent years, more AWS contracts have come public, as companies like Pinterest, Slack, Lyft and Snowflake held their IPOs and had to disclose their heavy cloud spending.

Five things to know about Andy Jassy

1.Jassy has been at Amazon for about as long as Bezos, 24 years to be exact

Jassy joined Amazon in 1997, the same year the company went public. The 53-year-old built AWS from the ground up within the past two decades and became CEO of the cloud platform in 2016. Analyst Dan Ives described him to Insider in a previous interview as "one of the most powerful leaders not just within the cloud and tech sector but in the world of business."

2.Jassy is a close confidant of Bezos

Jassy served as a so-called "shadow" advisor to Bezos at one point, joining the chief executive in high-level meetings. In his letter to staff announcing his exit as CEO, Bezos said Jassy will be an "outstanding leader."

3.Jassy is one of the highest-paid executives at Amazon

He has raked in a total of more than $20 million within the past three years. In 2016 alone, Jassy earned over $36 million while Bezos made about $1.7 million in total, according to CNBC.

4.Jassy was reportedly considered for the role of CEO at Microsoft and Uber

Ex-Microsoft CEO Steve Ballmer approached Jassy at one point about replacing him as chief executive of the company, a person familiar with the discussion told Insider's Ashley Stewart and Eugene Kim. There was also a rumor that Jassy was considered to take over as Uber CEO after Travis Kalanick stepped down in 2017.

5.He's outspoken in regard to political and social issues

Jassy has spoken out against the police killings of Black Americans and in favor of court decisions to make it illegal to discriminate against members of the LGBTQ community, among other calls to action. Jassy has also spoken out against former President Donald Trump's contempt for Amazon and helmed AWS amid the company's decision to ban Parler, a social-media app popular among the far-right.

About Amazon

Amazon.com, Inc. is an online retailer that offers a wide range of products. The Company products include books, music, computers, electronics and numerous other products. Amazon offers personalized shopping services, Web-based credit card payment, and direct shipping to customers. Amazon also operates a cloud platform offering services globally.

SECTOR

Consumer Discretionary

INDUSTRY

Retail & Whsle - Discretionary

SUB-INDUSTRY

E-Commerce Discretionary

FOUNDED

05/28/1996

ADDRESS

410 Terry Avenue North Seattle, WA 98109 United States

PHONE

1-206-266-1000

WEBSITE

www.amazon.com

NO. OF EMPLOYEES

1271000

Photo CNBC

Coronavirus pandemic lockdowns helped Amazon’s sales soar by 38% in 2020 to a record $386bn, and $23bn of “operating income” (profit, to you and me). In the UK, Amazon’s sales jumped by 51% last year to a record $26.5bn (£19.5bn) as people trapped at home because of the lockdowns turned to the internet retail company to buy items unavailable in closed high street stores and to keep them entertained at home.

As of mid-2020, Amazon controlled 33% of the global cloud infrastructure services market, followed by Microsoft at 18% and Google at 9%, according to Synergy Research. Amazon said on Tuesday that AWS revenue in the fourth quarter jumped 28% to $12.7 billion. Operating income increased 37% to $3.56 billion, accounting for 52% of Amazon’s total operating profit.

A huge increase in demand for cloud storage – from big streaming companies such as Netflix and Spotify and government departments including the Central Intelligence Agency (CIA) and large parts of the UK civil service – has driven massive increases in revenue and profit at AWS, which Jassy runs.

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