American entrepreneur, co-founder, and current CEO of Snap Inc., Evan Thomas Spiegel was born on June 4, 1990. In 2015, Spiegel was the world’s youngest self-made billionaire. Forbes estimates his wealth at $2.7 billion as of March 2023.
Evan Spiegel Net Worth
As an American businessman, Evan Spiegel has amassed a net worth of $1.6 billion. Evan Spiegel became wealthy as a co-founder of Snapchat, officially called Snap Inc. Evan’s net worth reached $15 billion at the height of Snap’s stock price. From mid-September 2021 to late-July 2022, the share price of Snap dropped from $83 to about $10, cutting Evan’s net worth in half.
Evan Spiegel Real Estate
In 2016, Evan forked out $12 million to buy Harrison Ford’s Brentwood mansion. A year later, Evan and Miranda tied the knot here. In addition to Miranda’s Malibu property and Evan’s previous Brentwood residence, the couple now owns a vineyard in Miranda’s native Australia.
Across the street from the Playboy home in Holmby Hills, California, Evan and Miranda spent $100 million over the course of two transactions in 2021.
Evan Spiegel Early Life
Evan Thomas Spiegel was born on June 4, 1990, in Los Angeles. Both of his parents practice law; his dad, John W. Spiegel, and mom, Melissa Ann Thomas. His family in Pacific Palisades, California, nurtured him in the Episcopal faith. He graduated from Santa Monica’s Crossroads School for the Arts and Sciences.
During his high school years, he enrolled in design courses at both the Otis College of Art and Design and the Art Center College of Design in Pasadena. He went on to finish his degree at Stanford.
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Evan Spiegel Snapchat
While studying product design at Stanford, Spiegel came up with the idea for an app that would allow for temporary texting. His peers did not share his enthusiasm, but he persisted. However, he worked on the concept with two other Stanford students, Bobby Murphy and Reggie Brown.
They christened the initial model “Picaboo” and released it into the wild. Reggie Brown left the organization in 2011. He eventually filed a lawsuit against Evan and Bobby, claiming that they stole his idea for Snapchat. In the end, Reggie Brown settled for $158 million.
In 2012, the app had over a million DAUs (daily active users) after being rebranded as “Snapchat.” As a result, Spiegel dropped out of Stanford just before receiving his degree to devote himself entirely to developing the software.
You can take a photo, annotate it with words or a doodle, and then share it with a select group of people using this app. Next, choose an available viewing time between 1 and 10 seconds. After that, the photo is permanently erased from both their device and the Snapchat server.
The company’s founders turned down a $3 billion buyout offer from Facebook in 2013. In August 2014, Snapchat accepted an investment from Venture Capital firm Kleiner Perkins, valuing the company at $10 billion, which turned out to be a very smart move.
Snap Inc. first began trading on the New York Stock Exchange on March 2, 2017. The stock began at $24, well above the predicted $17 price, and the company’s market cap reached $20 billion by day’s end. Spiegel made $272 million before taxes from the sale of 16 million shares on the day of the IPO.
When Snap first started trading, Spiegel was one of the youngest chief executive officers of a publicly traded company. At the time, he was only 26 years old. For leading the company to an initial public offering, Evan received 37 million more shares, valued at almost $850 million at the time of the award.
Evan Spiegel, founder and CEO of Snap, Inc., turned 28 on March 2017. His status as a billionaire was already assured by the private valuation of Snap before to the IPO, but it was solidified by the public offering. By the end of the IPO day,
Evan had amassed a net worth of $4 billion. That made him officially one of the world’s youngest billionaires.
Evan Spiegel Wealth Fluctuations
Spiegel has maintained a stake in Snapchat amounting to 210,970,819 shares as of this writing. His wealth was estimated at $4.5 billion in June of the year 2020. His fortune reached $9 billion by December of 2020. His wealth reached $13 billion by September of 2021.
The share price of Snapchat dropped by over 80% between January 1, 2022 and November of that same year. Even after the stock price dropped to $7.50 in October 2022, Evan still had $1.57 billion in value.
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Evan Spiegel Personal Life
Spiegel’s relationship with Australian model Miranda Kerr began in 2015. In July of 2016, she proposed, and in May of 2017, they tied the knot. Hart Kerr Spiegel (born in 2018) and Myles Spiegel (born in 2019) are the couple’s boys.
In 2018, he disclosed that he has returned to Stanford to finish off his unfinished degree after being motivated to do so by the birth of his first son. Despite never having lived in France, Spiegel was granted French citizenship in 2018.
The residency requirement was waived for him because of a provision in French naturalization law that allows applicants who have made significant contributions to France’s culture or economy to bypass the requirement.
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