Snapchat CEO is Worth More than Who?💰👻💰
Evan Spiegel, 26 years old, became an instant billionaire overnight. How rich is he?
Snapchat, the mobile app that lets you send self-destructing messages, became a publicly traded company on the New York Stock Exchange Thursday, March 2, 2017, listed under SNAP.
After a long roadshow hyping the IPO and its CEO and cofounder, Evan Spiegel, the company finally priced its shares at $17 each. By the next day the stock price had risen to $27 (+60%), valuing the company around $30 billion.
Snapchat lost $515 million in 2016 and said "may never achieve or maintain profitability" as it reinvests in the company.
Both CEO Evan Spiegel and his cofounder Bobby Murphy own roughly 22% of SNAP stock.
If we include other restricted shares that Spiegel owns which give him majority control of the company, at $27 a share Snapchat CEO Evan Spiegel’s net worth is almost $6 Billion.
Wow. That’s a lot of money.
Can you guess which famous entrepreneurs and celebrities Evan Spiegel is now richer than?
Let’s find out.