Quick Facts of
- First NameEvan
- Last NameSpiegel
- Net Worth$2.5 billion
- CareerBusinessman, Founder
Evan Spiegel, a French-American businessman is the co-founder of the social media company Snap Inc. (formerly Snapchat Inc from 2011 to 2016) with Bobby Murphy and Reggie Brown (was out after some time of the company launch).
Currently, Spiegel serves as the CEO & Director of the company; he has 48% voting power while his partner Murphy has 47% rights, totaling the founders voting power of 95%.
With compensations from the company & his equity stake, the Los Angeles-born became one of the youngest tech billionaires (at age of 28) in 2018 as per Forbes andranks #225 in Forbes 400 2019.
How Much Is Net Worth Of Evan Spiegel In 2020?
At the peak of Snap Inc. share value in 2017, Evan reportedly had a net worth of $5.7 billion. According to Forbes, Spiegel owns a whopping fortune of $2.5 billion as of March 10, 2020- it is a downfall of $296 million (10.54%) of the previous trading day.
Being the co-founder & CEO of Snap Inc., where the 29-year-old tech businessman owns 210,970,819 shares, is indeed the milestone to his career success.
The Forbes report him #225 in Forbes 400 2019 & #1116 among
Billionaires 2019. Also, the aforementioned source state that Spiegel & Murphy each owns an 18% stake of the Snap.
Reportedly, in 2016, Even took in the salary of $500,000 as CEO of Snap Chat along with a bonus of $1 million.
After the company Snap Inc. went with IPO on March 2, 2017, it collected almost $30 billion in market capitalization on the first trading day.
In 2017, the French-American businessman’s salary as CEO of Snap Inc. was $98,078 & earned $638 million in total compensation.
Net Worth Over The Years:
- March 2015– $1.5 billion
- September 2015– $2.1 billion
- March 2016– $2.1 billion
- March 2017– $4 billion
- October 2017– $3.1 billion
- March 2018– $4.1 billion
- October 2018– $2.3 billion
- March 2019– $2.1 billion
- October 2019- $3.6 billion
Foundation Of Snapchat App & Snap Inc.
While as a student at Stanford University, Evan along with his fellow classmates Bobby Murphy and Reggie Brown made a multimedia messaging app prototype “Picaboo” later named Snapchat in 2011.
On September 16, 2011, with Bobby Murphy, Spiegel founded Snapchat Inc. & raised $485,000 in its seed round funding & an undisclosed bridge-funding through Lightspeed Ventures.
Later, the social media company was re-branded as Snap Inc. on September 24, 2016, by the time, the company was worth $22 billion.
In 2018, Snap Inc. had revenue of $1.18 billion by 2019, the annual revenue grew up to $1.7 billion.
As per the report of March 9, 2020, the market cap of the company recorded is $18.46 billion.
Rejected Offer Of Facebook & Google
Back on November 14, 2013, Evan Spiegel reportedly turned down a $3 billion acquisition offer from Facebook’s co-founder Mark Zuckerberg.
Later, on November 15, 2013, as per Tech writer Om Malik, the Snapchat co-founder & CEO declined $4 billion from Google.
Lawsuit Against Snapchat Slipped Off $157.5 Million
In February 2013, Reggie Brown, who was forced out of the company soon after the launch of Snapchat, filed a lawsuit against Evan Spiegel and Bobby Murphy.
Brown claimed that Snapchat, originally “Picaboo”, was his concept & even designed the mascot logo for the initial selfie app.
The lawsuit stated that he didn’t get an equity stake of the company (one-third). It later settled on September 9, 2014, & the value of settlement amount was $157.5 million revealed through Snap’s SEC public filing on February 2, 2017.
Celebrity Criticisms About Snapchat Dragged Company Down
Over the years, Snapchat’s stock business has become a highly sensitive concern in the media: from criticisms of Kylie Jenner & Rihanna to fierce competition with Facebook (FB) owned Instagram; that snatched away a chunk of the sum from the company.
The first downfall came in 2017 after Snapchat lost $3.7 billion– mainly cited on heavy expenses on compensations to the board.
In February 2018, one of the youngest self-made billionaire & cosmetic mogul Kylie Jenner made a Tweet stating she is no longer using the app criticizing its new layout.
It saw 6% downhill on Snap Inc. stock & reportedly lost $1.3 billion in market capitalization.
The toll to the financial flow of Snapchat added after the Umbrella singer Rihanna commented on its offensive ad in March 2018, which swiped away the app’s $800 million.
Despite a messy year in 2018, Snap Inc. later rebounded in the stock market in 2019.
Where Does Evan Spiegel Live & His Lifestyle?
Formerly, Evan Spiegel lived with his father in Pacific Palisades & later moved on his own at the age of 24, in November 2014, after buying a 3-bedroom house in Brentwood, Los Angeles, for $3.3 million.
In May 2016, with his girlfriend (now wife) Miranda Kerr, an Australian model, he bought another property in Brentwood for $12 million & lives there.
The 7,164-square-foot home, previously owned by Harrison Ford, features a pool house, swimming pool, gym house as well as a guest house.
As reported, the property was in the market for $12.5 million, before the Snapchat co-founder acquired it for $500,000 less.
Enjoys A Lavish Lifestyle
Regarding his lifestyle, Evan barely seems shy & is often in limelight for his costly expenses- though, seems a little piece in front of his billion-dollar fortune.
Spiegel drives a Ferrari and a owns a Lamborghini Huracan (that costs $261,274).
During the office hours, he often wears $460 Common Projects sneakers, $255 Patrik Ervell black jeans, and a $60 James Perse white v-neck.
Reportedly, Evan and Kerr during their honeymoon on the private island of Laucala in Fiji & rented a mega-yacht costing $1 million-a-week to sail the coast of Italy and Greece.
Did you know? Spiegel has made $65 million of his Snap stock in a donation.
Shares 2 Children With Model Wife Miranda Kerr
Evan Spiegel is in a marital relationship with Miranda Kerr, an Australian supermodel; they married on May 27, 2017, & are parents to 2 children: Hart Kerr Spiegel (born on May 7, 2018) and Myles Spiegel (October 2019).
The duo began dating in 2015 after they met at a dinner for Louis Vuitton & got engaged after a year, on July 20, 2016- he proposed with a $75,000- $100,000 worth ring.
As for a fact, Evan is 7 years junior to Miranda.
His wife Miranda was formerly married to Orlando Bloom from July 22, 2010, to 2013 & welcomed a son named Flynn Christopher on January 6, 2011.
Evan Thomas Spiegel was born on June 4, 1990, in Los Angeles, California, to lawyer parents: John W Spiegel and Melissa Ann Thomas. He has 2 sisters: Lauren and Caroline.
After his parents divorced, Evan began living with his father & drove a Cadillac. However, after his father refused to buy him a BMW 550i worth $75,000, Spiegel went to live with mother.
Born-American, Evan has a dual citizenship: he got French citizenship in 2018.
The Crossroads School for Arts and Sciences attendant later went to Stanford University. He also attended Otis College of Art and Design and Art Center College of Design.