In the business world, it’s generally no easy task to be the one immediately replacing a legend, but at Amazon, it seems to be working out pretty well for Andy Jassy.
The man who will take over for Jeff Bezos in the CEO/president post on Monday, has a generous welcoming gift waiting for him.
Jassy is set to receive more than $200 million in shares of Amazon stock – up to $215 million pending the stock price — as he settles in for his morning beverage.
In an SEC filing last week, Amazon reported Jassy’s complement will be 61,000 shares of the firm’s common stock vested over 10 years when he officially becomes CEO Monday.
As markets closed on Friday, the stock was at $3,510.98 per share, or just north of $214 million, and figures to continue appreciating in value.
Market analysts’ average price target was $4,241.33 — more than 20 percent higher than it is today — according to Yahoo Finance.
And it’s not like Jassy was starting from nothing: According to a Business Insider analysis, Jassy’s total Amazon holdings before this filing were in the exclusive neighborhood of around $270 million.
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.
Bezos founded the e-tail mammoth in 1994, and is generally believed to reportedly the richest man in the world with an estimated net worth of $190 billion. He holds about 10.3 percent of the company and, according to Markets Insider, at least 50 million shares.