Amazon CEO Andy Jassy’s salary was just $1.3 million in 2022 — a huge drop from $212.7 million in 2021.
Jassy received nearly $212 million worth of stock awards in 2021, but none in 2022.
The stock awards only vest after ten years and represent the bulk of his compensation for years to come.
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Jassy received a salary of $1.3 million in 2022, including a base salary of $317,500 and an additional $981,000 in contributions to retirement plans and security expenses, sources revealed on Thursday submitted annual balance sheet of the company.
That’s a massive drop from the $212.7 million he was paid in 2021 when he was promoted to CEO. Jassy’s total compensation for 2020 was $35.8 million.
Jassy’s significantly lower compensation in 2022 is due to the fact that he did not receive any stock awards that year. In 2021, Jassy received nearly $212 million worth of shares. But it will take ten years for them to vest. And they should make up the bulk of his compensation for years to come, Amazon said in one Application for approval of May 2022. Under the stock allocation schedule, Jassy received $31.9 million in 2022 and is expected to receive $18.9 million in 2023.
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Jassy’s base salary at Amazon has increased by 80 percent
That means Jassy’s base salary is up 80 percent from $175,000 in 2021, according to the report filed Thursday, released ahead of Amazon’s May 24 annual shareholder meeting.
In comparison, received Apple-CEO Tim Cook $84 million in total compensation in 2022, including bonuses and a $3 million base salary — albeit this one in 2023 on $49 million (44.13 million euros) could fall. Microsoft-CEO Satya Nadella received total compensation of 55 million dollars (50 million euros) in 2022.
Jeff Bezos, the founder and CEO of Amazon, received $1.68 million in total compensation in 2022 — the same amount he received in 2021 and 2020.
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Amazon founder Jeff Bezos received a base salary of just over $80,000
Bezos’ salary included a base salary of $81,840 and a personal security allowance of $1.6 million. Bezos, the Amazon founded in his garage in 1994 has never received stock-based compensation but is the e-commerce giant’s largest shareholder, owning nearly 10 percent of the stock. Amazon was worth about $1 trillion as of Thursday, making it one of the most valuable companies in the world behind Apple, Microsoft, Saudi Aramco and Alphabet.
Amazon’s power of attorney came on the same day that Jassy received a annual letter to the company’s shareholders published. In that letter, Jassy said 2022 was “one of the toughest macroeconomic years in recent memory.”
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Amazon’s net income declined significantly in the fourth quarter
Like many other tech companies, Amazon has been grappling with a downturn in the industry after business boomed during the pandemic. Amid the fears of a upcoming recession however, the yields weaken.
Amazon reported for that fourth quarter of 2022 a net income of $278 million (EUR 250 million) – a significant decrease from the net income of $14.3 billion (EUR 12.9 billion) in the same quarter of 2021. To reduce costs, Amazon announced two rounds of job cuts in which a total of 27,000 jobs were lost.
Amazon shares closed 4.7 percent higher on Thursday at $102.40. The stock is up 22 percent so far this year.
This article has been translated from English. You can find the original here.