Amazon CEO Jassy Reveals What's Kept Him At The Tech Giant For Nearly 3 Decade: Here's How AMZN Stock Has Done Since He Replaced Bezos

Amazon.com Inc. AMZN CEO Andy Jassy once thought it “unfathomable” that his father worked at the same company for 45 years. In his 2024 annual letter to shareholders, Jassy admitted he once told friends, “That would never be me.”What Happened: Yet almost 28 years later, Jassy remains at Amazon, where he succeeded founder Jeff Bezos as CEO in 2021.“I’m obviously a Superfan,” Jassy wrote, explaining his longevity at the tech giant. “I’m not sure that any company prioritizes customers as relentlessly as we do. Lots of companies say they will; few follow through.”Jassy cited three additional factors behind his commitment: the ability to make a significant global impact, Amazon’s willingness to make substantial long-term investments in both innovations and people, and his colleagues’ exceptional qualities.“I’ve never encountered a more intelligent, creative, ambitious, hungry, hard-working, and missionary group of teammates than we have at Amazon,” he wrote.See Also: Charlie Munger Was Asked If Disney Was Still a Good Investment: ‘They Once Owned the World, Now It’s a Bloodbath — Welcome to Human Life’Why It Matters: In his letter, Jassy emphasized Amazon’s “Why Culture” as fundamental to the company’s success, describing how constantly questioning established norms drives innovation.This approach has helped Amazon transform from an online bookstore into a global technology and retail powerhouse with $638 billion in 2024 revenue.Amazon reported 11% year-over-year growth in 2024, with operating income improving 86% to $68.6 billion, representing a 10.8% operating margin.Jassy concluded that Amazon operates like “the world’s largest startup” by prioritizing customers, hiring builders and owners, emphasizing speed, eliminating bureaucracy, and being willing to take calculated risks.Since taking over from Bezos in July 2021, Amazon’s stock has dropped 6.8% from $186 to $173.18 as of Wednesday, while the S&P 500 Index has increased 21% from 4369 to 5287.76 within the same time frame.Jassy took over as Amazon CEO in July 2021. Since then, AMZN stock has dropped 6.8%, from $186 to $173.18 as of Wednesday. Meanwhile, the S&P 500 Index has risen by 21%, from 4,369 to 5,287.76 over the same period.Read Next: Warren Buffett Says Millions Are Trapped Living An ‘American Nightmare’ — But Proposes A Tool ‘Far More Useful’ Than Raising Minimum WageDisclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.Photo courtesy: Markus Mainka / Shutterstock.com