Sunday, November 12, 2017

Meet 9 of tech's newest billionaires

Satoshi Nakamoto, Creator of bitcoin

Satoshi Nakamoto, Creator of bitcoin

Age: Unknown

Net worth: Unknown

Company: Unknown

Position: Unknown

Nakamoto is likely the pseudonym of the mysterious creator (or creators) of Bitcoin. There's been a lot of speculation about Nakamoto's actual identity, but nothing has ever been confirmed.

In 2013, bitcoin developer Sergio Lerner estimated that Nakamoto owned nearly $1 million worth of bitcoin. With bitcoin's price having risen exponentially since then, Nakamoto could have a fortune in the millions or billions of dollars.

Sources: Reuters, Business Insider, Bitslog

Lucy Peng, Executive Chair of Ant Financial

Lucy Peng, Executive Chair of Ant Financial

Age: 44

Net worth: $1.14 billion

Company: Mobile payments provider Ant Financial

Position: Executive chair

Peng was one of Alibaba's 18 cofounders and held numerous positions at the company, including CEO of AliPay, its mobile payments service. When Alibaba spun off AliPay, which eventually became Ant Financial, she remained as its head.

Ant was recently valued at $74.5 billion, and Peng now serves as its Executive Chair. She first cracked the Forbes billionaire list in March 2017.

Sources: Forbes, Fortune

John and Patrick Collison, President and CEO of Stripe

John and Patrick Collison, President and CEO of Stripe

Ages: John is 27, and Patrick is 29

Net worth: $1.1 billion each

Company: Online payment processor Stripe

Positions: John, President and Cofounder; Patrick, CEO and Cofounder

The Collison brothers grew up in a small village in central Ireland, teaching themselves to code at a young age and competing with each other. Patrick graduated from secondary school at 16 and then enrolled at MIT. John followed him to the US a few years later, enrolling at Harvard. They both dropped out of college in 2009 to head to Silicon Valley to start what would become Stripe.

Today Stripe counts Lyft, Best Buy, and Google as customers. In November 2016, the company raised $150 million at a $9.2 billion valuation, making the Collison brother instant billionaires.

Sources: Forbes, Bloomberg

David Zalik, CEO of GreenSky

David Zalik, CEO of GreenSky

Age: 43

Net Worth: $2 billion

Company: Financial technology provider GreenSky

Position: CEO, Cofounder

Another Israel native, Zalik moved to Alabama with his family when he was four. He was a whiz kid, acing the SAT college entrance exam at 13. Instead of going to high school, he enrolled in Auburn University.

Zalik left Auburn without graduating to pursue his first business, MicroTech, a computer assembly company. He sold MicroTech in 1996. After a few less-successful ventures, he started GreenSky, which helps home improvement contractors, healthcare providers, and other small businesses allow their customers to pay for their services on credit.

Capital One cofounder Nigel Morris invested an unknown seven-figure amount in GreenSky in 2014. That fall, venture investors, including TPG, bought a 17% stake in GreenSky at a $1.8 billion valuation. By 2016, when Fifth Third invested in the company, GreenSky's valuation had doubled.

Source: Forbes

Adam Neumann, CEO of WeWork

Adam Neumann, CEO of WeWork

Age: 38

Net Worth: $2.6 billion

Company: Coworking space provider WeWork

Position: CEO, Cofounder

Neumann moved to the US from Israel in 2001 after serving as an officer in the Israeli military. He got the idea for what eventually became WeWork while running his previous business, a baby clothing company in Brooklyn.

He noticed that a nearby warehouse building was empty and convinced its owner to let him manage and rent out the space. That was the basis of coworking company GreenDesk. Neumann and cofounder Miguel McKelvey sold their stakes in GreenDesk in 2010 to found WeWork.

Today, WeWork has offices in 40 cities across the country. It was recently valued at $21 billion after scoring a $3 billion investment from Softbank.

Sources: Business Insider and Forbes

Brian Acton, Cofounder of WhatsApp

Brian Acton, Cofounder of WhatsApp

Age: 45

Net worth: $6.7 billion

Company: WhatsApp

Position: Cofounder (has since left)

Much of Acton's career has been lived out in tandem with Koum's. He worked alongside Koum at Yahoo then traveled with Koum in South America for a year after they left the internet giant.

When they returned from South America, Acton applied and was rejected for a job at Facebook. He then cofounded WhatsApp with Koum and stayed on with him at the company after Facebook acquired it.

But Acton just parted ways from Koum. He left Facebook and WhatsApp in September to start a non-profit that will be "at the intersection of nonprofit, technology, and communication," he wrote in a Facebook post.

Sources: Forbes and TechCrunch

Jan Koum, CEO of WhatsApp

Jan Koum, CEO of WhatsApp

Age: 41

Net Worth: $9.7 billion

Company: Messaging app developer WhatsApp

Position: CEO, Cofounder

Koum moved from Ukraine to Mountain View, California, with his mother when he was 16 and taught himself computer technology in high school. He grew up poor, living off food stamps, before landing a job as an engineer at Yahoo. After leaving Yahoo and spending time in South America, he applied for a job at Facebook but was rejected.

Koum and his cofounder Brian Acton then launched WhatsApp. The app started as a service that allowed users to share their status updates with friends but soon morphed into the messaging service it is today.

In 2014, WhatsApp caught the attention of Facebook CEO Mark Zuckerberg. Koum and Zuckerberg talked shop for two years before Facebook offered to buy WhatsApp in 2014 for $22 billion in cash and stock. As Facebook's stock value rose, so did Koum's net worth.

Sources: Forbes and Business Insider

Frank Wang, CEO of DJI Technology

Frank Wang, CEO of DJI Technology

Age: 37

Net Worth: $3.2 Billion

Company: Chinese drone maker DJI Technology

Position: Founder, CEO

Wang's company, DJI Technology, has been selling drones since before they were cool. Now, though, they're big business. Between 2016 and 2020, the total amount spent on the robotic aircraft will total $100 billion, Goldman Sachs has estimated. DJI's sales accounted for some 70% of the consumer and commercial portions of the drone market last year, according to Goldman Sachs.

Wang started DJI in 2006 out of his dorm room at Hong Kong University of Science and Technology, and his company was one of the first to market a ready-to-fly drone that actually flew. He's been riding the industry's wave ever since and became Asia's youngest tech billionaire in 2017.

Sources: Forbes, Reuters, and Mashable

Rishi Shah, CEO of Outcome Health

Rishi Shah, CEO of Outcome Health

Age: 31

Net worth: $3.6 billion

Company: Health technology firm Outcome Health

Position: CEO, Founder

The son of a doctor, Shah dropped out of Northwestern to launch Outcome Health with Shradha Agarwal, now the company's president. Outcome Health sells tablets and large touchscreen devices to doctor's offices and other healthcare providers and provides software for them that's designed to help them communicate with patients about health conditions, treatments, and other matters. The devices can also display advertising.

Outcome Health was valued at $5.6 billion in May 2017. Shah owns 80% of the company.

Source: Forbes


Source: Business Insider India