CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
☰
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open account
✖

Who is Andy Jassy Amazon CEO

Article By: ,  Former Senior Financial Writer
February 3, 2021 6:02 AM

Who is the CEO of Amazon?

Jeff Bezos will remain CEO of Amazon (AMZN) until Q3 2021, at which point he will turn the company over to Andy Jassy and transition to a new role as Executive Chair. These plans were largely kept under wraps, although speculation had begun to mount that Jassy would be a natural successor.

The news was broken in Amazon’s Q4 2020 earnings report, in which the firm also announced its first $100 billion quarter. About 28% of this revenue growth was attributed to Amazon Web Services, which Jassy has been in charge of since it was created.

Bezos has given Jassy his full confidence in the role and markets seemed to welcome the news positively too – with shares of Amazon increasing in value by 1% in extended trading on Tuesday 2 February.

Want to take a position on Amazon shares? Open an account to get started.

Why did Jeff Bezos resign as CEO of Amazon?

Jeff Bezos announced he would be resigning to focus more time on his other ventures – including the Bezos Earth Fund, his spaceship company Blue Origin, The Washington Post, and the Amazon Day 1 Fund. Bezos is by no means retiring and intends to stay engaged in any important Amazon projects – such as acquisitions and high-cost strategies.

Bezos is ending his 27-year reign on a high note, having taken Amazon from nothing more than a bookseller to one of the world’s most valuable companies.

Who is Andy Jassy?

Andy Jassy, 53, joined Amazon in 1997 just three days after graduating from Harvard Business School. So, Jassy has been at Amazon almost as long as Bezos himself. Before joining Amazon, Jassy had founded and managed a marketing consultancy company.

Alongside 57 other people, Jassy founded Amazon Web Services in 2006 and became the company’s CEO in 2016, overseeing the platform’s growth. The platform now has a user base of millions worldwide, including well-known businesses – such as Verizon and McDonald’s – Silicon Valley start-ups, schools, and governments. AWS has roughly a 30% market share of the cloud computing market and owns almost half of the public cloud infrastructure.

AWS is the largest contributor to Amazon’s operating income – bringing in 52% in October 2020.

Jassy is known for his highly technical expertise, and his outspoken remarks about competitors – such as Oracle Corp and Microsoft – and social issues, like police brutality and LGBTQ+ rights.

What are Andy Jassy’s plans for Amazon?

Now that Jassy is CEO of Amazon, it will be interesting to see how the company alters its growth plans and balances the core functions of cloud services, e-commerce, and advertising. However, speculation has already started that Jassy’s background in AMS indicates that cloud computing will be at the core of Amazon’s strategy going forward.

How much is the CEO of Amazon worth?

New CEO Andy Jassy is predicted to have a net worth of around $392 million,1 which pales in comparison to Jeff Bezos’s $192 billion fortune. In his current role as CEO of AWS, Jassy has a total compensation of $348,809 a year.

Alongside Bezos, Andy Jassy is one of the top individual insider shareholders in Amazon, holding over 2791 units of Amazon.com stock, worth approximately $277,548,700.

Discover the top ten richest people in the world.

1Wallmine, 2021


StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFD and Forex Trading are leveraged products and your capital is at risk. They may not be suitable for everyone. Please ensure you fully understand the risks involved by reading our full risk warning.

City Index is a trading name of StoneX Financial Ltd. Head and Registered Office: 1st Floor, Moor House, 120 London Wall, London, EC2Y 5ET. StoneX Financial Ltd is a company registered in England and Wales, number: 05616586. Authorised and regulated by the Financial Conduct Authority. FCA Register Number: 446717.

City Index is a trademark of StoneX Financial Ltd.

The information on this website is not targeted at the general public of any particular country. It is not intended for distribution to residents in any country where such distribution or use would contravene any local law or regulatory requirement.

© City Index 2024