Evan Spiegel’s Net Worth: A Billionaire by Age 25, How Rich is the Snapchat CEO Now?

Evan Spiegel is an American businessman and the co-founder and CEO of Snap, Inc., the company behind the popular social media platform Snapchat. The concept for the app originally came from an idea Evan had for a product design class project while attending Stanford University in 2011. He co-founded the company with two fraternity brothers that same year, launching the platform that would change the face of social media and make 25-year-old Evan the youngest billionaire in the world by 2015. 

Evan Spiegel’s net worth has fluctuated significantly in recent years and is not currently as outrageously high as it once was. Still, he’s very wealthy and is living the good life, despite some business setbacks. 

So how much is Evan Spiegel worth today? Let’s take a look at how Evan built his billion-dollar social media empire and explore his net worth, investments, and more. 

Plus, find out how we can coach you to grow YOUR net worth, absolutely free.

Who is Evan Spiegel?

Born in Los Angeles in 1990, Evan Spiegel is an American, French-naturalized entrepreneur who is the co-founder and CEO of Snap Inc. with the flagship product, Snapchat–a photo and video-sharing app. His claim to fame and fortune is having the innovative idea for the app as part of a product design class assignment while attending Stanford University. Rather than submitting the project, getting an A, and moving on, Evan ran with the idea. He and his fraternity brothers launched the concept prototype app they called Picaboo in 2011, later renaming it Snapchat. 

Soon after, Spiegel left Stanford to focus on the Snapchat launch. By 2012, the app had achieved 1 million daily active users. Once Snapchat was well on its way, Spiegel later returned to Stanford to complete his credits and earn a degree. 

$3 Billion? No Thanks

Throughout his career and business launch, Spiegel has been known for his innovative thinking and willingness to take risks. In fact, he turned down a $3 billion offer from Facebook to buy Snapchat in 2013 when Snapchat was making no money and had no mechanism to make money. This turned out to be a smart move. One year later, Snapchat took an investment from Kleiner Perkins, a venture capital firm, that valued the company at a whopping $10 billion. 

Spiegel’s giant payday came in March 2017 with the Snap Inc. debut on the New York Stock Exchange, opening up at $24 per share and ending the day with a $20 billion market cap. On this day, Spiegel not only became one of the youngest public company CEOs, he also sold 16 million shares, earning $272 million pre-tax. Snap Inc. gave Spiegel another 37 million shares for his job guiding the company to an IPO. By the close of the day, Evan’s net worth was $4 billion, making him one of the youngest billionaires at that time. 

What is Evan Spiegel’s net worth?

Evan Spiegel’s net worth has experienced many fluctuations over the years. His highest net worth was in September 2021 when it hit an estimated $13 billion. However, Snapchat’s stock price has decreased significantly due to reasons related to “uncertainties” in the operating environment. As a result, the company missed revenue forecasts, spooking investors. 

Today, Evan Spiegel’s net worth is estimated to be $2.3 billion. So while it is less than it once was, the guy is still a billionaire! 

How did Evan Spiegel make his money?

Evan Spiegel has several income sources that have contributed to his massive net worth. Here are some endeavors that have made him wealthy:

1. Snapchat

Spiegel helped to launch Snapchat in 2011, and it quickly became a hit among adolescent and teen social media users. The app’s unique approach to social media allowed users to share photos and videos that disappear after a short time, creating a more intimate and authentic way for people to communicate. This approach was a significant departure from the permanent, public nature of other social media platforms at the time.

Snapchat’s popularity grew rapidly, and the company’s value soared. In 2017, Snap Inc. went public in one of the most significant tech IPOs in recent years, further increasing Spiegel’s wealth. 

2. Snapchat Trade Sales

Snapchat has been involved in several trade sales over the years. In 2013, Snapchat reportedly turned down a $3 billion acquisition offer from Facebook. However, the company later sold a 13% stake to Chinese tech giant Tencent for $175 million in 2017. In the same year, it went public with an IPO that valued the company at $24 billion.

As the co-founder and CEO of Snapchat, Evan Spiegel has benefited significantly from these trade sales. The sale to Tencent allowed Snapchat to expand its reach into the Chinese market, while the IPO provided the company with significant capital to continue its growth and development. Additionally, these trade sales helped to increase Spiegel’s net worth, making him one of the wealthiest self-made billionaires in the world.

3. Partnerships with Big Brands

Evan Spiegel’s partnerships with big brands have played a significant role in the growth and success of Snapchat and his net worth. Partnerships with companies such as Nike, McDonald’s, and Gatorade, have allowed Snapchat to provide its users with engaging and interactive branded content, while also generating massive revenue for the company.

For example, in 2016, Snapchat partnered with Gatorade to create a sponsored filter for the Super Bowl that allowed users to virtually “dump” Gatorade on themselves, similar to the tradition of dumping the drink on a winning coach. This partnership resulted in over 165 million views, making it one of the most successful branded filters in Snapchat’s history.

4. Hardware

In 2016, Evan Spiegel launched Spectacles, a pair of sunglasses that records short videos for sharing on Snapchat. Evan also released a smart frame product called the Snap Spectacles 3, which includes a dual camera system that allows users to create 3D snaps. 

5. Merchandise Licensing

Evan Spiegel’s foray into merchandise licensing has been a lucrative source of revenue and a significant contributor to his wealth. In recent years, Snap Inc. has expanded into merchandise licensing as a way to capitalize on the popularity of Snapchat’s brand and characters.

Snapchat’s most famous character is undoubtedly the “Snapchat Ghost,” which has become an iconic symbol of the app. In 2016, Snap Inc. began licensing the Snapchat Ghost image to third-party companies for use on a wide range of products, including clothing, phone cases, and other accessories. The licensing deals allow Snap Inc. to earn a percentage of the revenue from the sale of these products, which has been a significant source of income for Evan.

FAQs

What is Evan Spiegel’s Net Worth?

According to Forbes, Evan Spiegel’s 2023 net worth is approximately $2.3 billion. 

How did Evan Spiegel become so wealthy?

Spiegel became wealthy through his ownership stake in Snapchat, which he co-founded in 2011. The app’s popularity grew rapidly, leading to Snap Inc.’s highly lucrative IPO in 2017.

What companies is Evan Spiegel involved in?

Evan Spiegel is currently involved in running Snap Inc., the parent company of Snapchat, as its CEO. Through Snap, he has acquired multiple other companies, including:

• Looksery
• Vurb
• Bitstrips
• Zenly
• AI Factory
• Fitanalytics
• Waveoptics

How has Evan Spiegel’s net worth been affected by the pandemic?

Evan Spiegel’s net worth was positively affected by the pandemic, as the increased usage of Snapchat during lockdowns led to a surge in Snap Inc.’s stock price. As a result, Spiegel’s net worth was estimated to be around $4.3 billion in 2020. In 2021, Spiegel’s net worth continued to rise and was estimated to be around $13 billion.

What is Snap Inc.?

Snap Inc. is a social media and camera technology company that is best known for its flagship product, Snapchat. The company’s platform allows users to send photos and videos that disappear after a short time, as well as share “Stories” that last for 24 hours. Snap Inc. also offers a range of augmented reality features and camera-related products, such as Spectacles, which are glasses that can capture video from the user’s perspective. The company went public in 2017 and is headquartered in Santa Monica, California.

How did Evan Spiegel get involved with Snap Inc.?

Evan Spiegel co-founded Snap Inc., the parent company of Snapchat, in 2011 with fraternity brothers, Bobby Murphy and Reggie Brown, while studying at Stanford University. They created the app as a class project, and it quickly gained popularity. As the company’s CEO, Spiegel has led its growth and expansion into a multi-billion dollar enterprise.

What investments has Evan Spiegel made?

Evan Spiegel has made several investments in startups, including the health and wellness app, Calm, and the augmented reality platform, WaveOptics. He also invested in a social gaming platform, Playco. Additionally, he has made personal investments in the real estate market.

Takeaway

The story of Evan Spiegel’s net worth is inspiring. It may feel like that kind of wealth is beyond your reach, but Evan shows us that all it takes is one great business idea to get on the fast track to life-changing wealth. 

Evan began with a simple idea from a class project and turned it into one of the most valuable companies in the world. The key takeaway from his journey is to be willing to take risks and pursue your vision, even if it goes against the norm.

If you have an idea for a product or service, don’t be afraid to test it out to see if it resonates with people. Gather feedback, make improvements, and keep iterating until you’ve created something truly remarkable. 

If you know you want to grow your net worth, but aren’t sure how to get started, Capitalism.com is here to guide you. 

We are on a mission to create one million new millionaires by 2028 and we would love for you to be one of them. 

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