Amazon giving new CEO Andy Jassy $215M in stock
Jassy will officially replace Amazon founder Jeff Bezos as CEO on July 5
Evolution VC Partner founder Gregg Smith provides insight into ‘smashing’ Big Tech earnings.
The man replacing founder Jeff Bezos as CEO of Amazon is set to receive a huge stock package when he takes the helm on Monday.
Andy Jassy will receive roughly $215 million worth of the e-tail giant's stock.
In a filing to the Securities and Exchange Commission earlier this week, Amazon reported that Jassy will receive 61,000 shares of the firm's common stock vested over 10 years upon becoming president and chief executive on July 5. At Friday's closing price of $3,510.98, that's $214,169,780.00 – not a shabby payday.
New Amazon CEO Andy Jassy is set to receive a huge stock package when he takes the helm on Monday. (David Paul Morris/Bloomberg via Getty Images)
AMAZON'S JEFF BEZOS TO OFFICIALLY STEP DOWN IN JULY, ANDY JASSY TO BECOME CEO
Jassy started at Amazon in 1997 in the firm's marketing department, and worked his way through the ranks to his current role as head of Amazon Web Services. Bezos announced in February to the company's 1.3 million employees that Jassy would succeed him in leading the online retail behemoth.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 202.68 | -8.80 | -4.16% |
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Bezos founded Amazon in 1994, and is reportedly the richest man in the world with an estimated net worth of $190 billion.