Evan Spiegel Net Worth
Evan Spiegel Net Worth: Evan Spiegel is a French-American entrepreneur who has a net worth of $4.5 billion. Evan Spiegel has earned his fortune as the co-founder of Snapchat, technically now known as Snap Inc.
Early Life: Evan Thomas Spiegel was born in Los Angeles, California, on June 4, 1990. His parents, John W. Spiegel and Melissa Ann Thomas, are both lawyers. He was raised in Pacific Palisades, California, in an Episcopalian household. He attended high school at the Crossroads School for Arts and Sciences in Santa Monica. While still a high school student, he took design classes at the Otis College of Art and Design, as well as the Art Center College of Design in Pasadena. He continued his education at Stanford University.
Career: While a student at Stanford, where he studied product design, Spiegel proposed an idea for an app with ephemeral messaging for a class project. His classmates did not think it was a good idea, but he did not give up. Instead, he teamed up with fellow Stanford students Bobby Murphy and Reggie Brown to develop the idea, and they launched the prototype under the name "Picaboo". They eventually renamed it as "Snapchat", and by 2012 the app was gaining in popularity and has over 1 million daily active users. As a result, Spiegel actually left Stanford shortly before graduating to focus on the app full-time. The application allows you to photograph something, add text or sketch on the image, and then send it to a controlled group of recipients. You can then specify how long the person can view the image from 1 to 10 seconds. After that, the image is deleted from their smartphone and from the Snapchat server.
In August 2014, Snapchat took on an investment from Venture Capital firm Kleiner Perkins that valued the company as a whole at $10 billion. 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 sold 16 million shares resulting in a $272 million pre-tax windfall (roughly $180 million after taxes). At the time Snap began trading, Spiegel became one of the youngest public company CEOs; he was 26 years old at the time. At one point, the founders rejected an all-cash acquisition offer from Facebook for $3 billion dollars.
Personal Life: Spiegel began dating Miranda Kerr, an Australian model, in 2015. They got engaged in July 2016, and married in May 2017. Together, they have two sons, Hart Kerr Spiegel (born 2018) and Myles Spiegel (born 2019). He owns a house previously owned by Harrison Ford that he purchased for $12 million in 2016. He revealed in 2018 that, inspired by the birth of his first son, he actually went back and completed his missing degree requirements and graduated from Stanford that year. In 2018, Spiegel received French citizenship despite not maintaining French residency. He was able to do so because of a clause in French naturalization laws that waives residency requirements in the case that an applicant has contributed to the French culture or economy.
Evan Spiegel net worth over time: Spiegel still owns 210,970,819 shares. At the peak of the stock's price, his shares were worth around $5.7 million. At the stock's lowest point, as recently as January 2019, Evan's shares were worth $1.5 billion. By March 2019, his net worth rose back up to $2.5 billion. At the time of the IPO, Spiegel was 28 years old, which made him one of the youngest billionaires on the planet. By June 2020 his net worth had climbed back up to $4.5 billion.
|Net Worth:||$4.5 Billion|