What Is GE's Retiring CEO Jeffrey Immelt's Net Worth?

General Electric (GE) announced Monday that its chairman and CEO Jeffrey Immelt would retire at the end of the year. Immelt headed the company for 16 years.

But how much is the chief executive worth?

According to Celebrity Net Worth, the number is $90 million. Bloomberg reports that Immelt takes in an annual compensation of just under $22 million.

READ: Who Is Jeffrey Immelt? General Electric CEO Retires, John Flannery To Take Over Role In August

Immelt was born in Cincinnati and is an alumnus of Dartmouth College and Harvard Business School. He took over at GE in 2001, just days before the Sept. 11 terrorist attacks. Immelt replaced the legendary chief executive Jack Welch, who over saw a gigantic expansion of the company increasing the stock value 4000 percent according to CBS.

Immelt had a long tenure at the company, starting in 1982.

According to Reuters, GE’s shares have fallen 30 percent in his Immelt’s time as CEO, though they went up 4.1 percent after the departure was announced Monday morning.

Immelt, 61, guided GE through the sale of its finance business, GE Capital, and the acquisition of French power business Alstom, three years ago in a $13.5 billion deal. Last year GE merged its oil and gas divisions with service provider Baker Hughes, according to the New York Times.

“We can weather the cycle in the short term and we will be very well positioned to lead the industry going forward,” said Immelt at the time.

Immelt also got rid of the NBC television network, a division of the company, GE appliances and GE announced last week that it is seeking to sell off it light bulb business – an iconic piece of the company since it was co-founded by Thomas Edison, the light bulb’s inventor. General electric is 125-years-old and is the oldest member of the Dow Jones Industrial Average.

Immelt also pushed his company into software, opening up a software center in California in 2011. Immelt made the decision last year to move the GE’s headquarters to Boston, from its Fairfield, Connecticut home. Immelt managed to nab $145 million in incentives from Boston and Massachusetts for the move.

Immelt will be replaced by John Flannery, 55, current president and CEO of GE Healthcare.

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“During this time of dynamic global markets and relentless focus on technology and operational excellence, there is no better person to lead GE than John Flannery. He brings unique experience and a strong skill set to the job,” said Jack Brennan, lead independent director of GE’s Board of Directors in a statement Monday.

“John has spent almost half of his career living outside of the United States and has led complex financial and industrial businesses all over the world, including running GE Healthcare, GE in India and the business development team for GE through the successful acquisition of Alstom. John has had a direct influence on the company’s direction, its financial health and its position as the world’s premier digital industrial company.”

Flannery has also been at General Electric for a long time, joining the company in 1987.