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AMAZON has announced that its billionaire owner Jeff Bezos will be stepping down as chief executive after almost 30 years.
He will hand the reins of the technology company to Andy Jassy.
Andy Jassy will become Amazon’s CEO when Jeff Bezos steps downCredit: Reuters
Who is Andy Jassy?
American businessman Andy Jassy joined Amazon as a marketing manager back in 1997 after attending Harvard.
The 52-year-old went on to found Amazon Web Services in 2003, with a team of 57 people.
In 2016, he was promoted from senior vice-president of AWS to CEO.
When is he replacing Jeff Bezos as CEO of Amazon?
According to the company, the switch in power will take place in the third quarter of 2021.
In a letter to employees announcing the move, Bezos said: “I’m excited to announce that this Q3 I’ll transition to Executive Chair of the Amazon Board and Andy Jassy will become CEO.”
What is Andy Jassy’s net worth?
After joining Amazon three years after it began, Mr Jassy has amassed a considerable net worth.
He is believed to have a personal net worth of at least $394million as of November 2020, according to investing research platform Wallmine.
Mr Jassy has been as Amazon since 1997Credit: Getty Images – Getty
The site reckons he owns 2,791 units of Amazon stock, equating to around $280,440,790.
According to Wallmine, he has sold more than $113million of the stock he owns.
Mr Jassy’s annual compensation in his position as CEO of AWS comes to $348,809.
Is Andy Jassy married and does he have kids?
Mr Jassy married Elana Rochelle Caplan in 1997.
The couple held their wedding ceremony in Santa Monica, and their wedding was officiated at Lоеwѕ Ѕаntа Моnіса Веасh Ноtеl.
The couple have two children together.
Elana Caplan, 52, is a graduate from the Philadelphia College of Textiles and Science.
Elana is fashion designer for Eddie Bauer Inc, a clothing retailer in Seattle.
She is also a marketing manager at Amazon.