Bobby Murphy Net Worth
Bobby Murphy Net Worth: Bobby Murphy is an American businessman and entrepreneur who has a net worth of $1.2 billion. Bobby Murphy is best known as the co-founder of Snapchat. Bobby met co-founder Evan Spiegel while they were undergraduates at Stanford University. They were Kappa Sigma fraternity brothers at the school. Murphy's mother emigrated from the Philippines and his parents both work for the state of California. The pair started the company Future Freshman in 2010 but not enough people used the site. Murphy joined Twitter in 2009 but has never tweeted. Snapchat is a photo messaging application where photographs and videos are deleted after a certain amount of time. As of May 2014 users of Snapchat sent 700 million photos and videos a day. Murphy serves as CTO of Snapchat and also oversees the company's engineering and product development. He co-founded Toyopa Group, LLC in 2011. Snapchat was worth an estimated $860 million in July 2013. Facebook and Google have offered to acquire them for up to $4 billion but co-founder Evan Spiegel has declined. On March 2, 2017, Snap Inc debuted on the New York Stock Exchange. The company was expected to go public at $17 per share but actually opened up at $24. On the day of the IPO Spiegel and Murphy each sold 16 million shares resulting in a $272 million pre-tax windfall (roughly $180 million after taxes) for both founders.
Bobby Murphy net worth over time: Murphy still owns around 200 million shares. At the peak of the stock's price, his shares were worth around $5.4 million. At the stock's lowest point, as recently as January 2019, Bobby's shares were worth $1.2 billion. By March 2019 his net worth had risen back up to around $2.3 billion. Murphy was 26 on the day of the IPO which made him one of the youngest billionaires on the planet.