Networth: $2.1 Billion
- Age:Â 25
- Source Of Wealth:Â Snapchat, Self Made
- Residence:Â Los Angeles, CA
- Citizenship:Â United States
- Marital Status:Â Single
- Education:Â Bachelor of Arts / Science, Stanford University
Evan Spiegel on Forbes Lists
- #327 Forbes 400 (2015)
- #99 Richest In Tech (2015)
- #1250 Billionaires (2015)
#418 in United States
Snapchat, the temporary photo and video messaging company, continues to capture more users and interest from investors since Evan Spiegel and Bobby Murphy cofounded the company in 2011. Almost 100 million people use the free app daily. More than 60% of 13- to 34-year-old U.S. smartphone users are on the service.
Spiegel, who holds the reins as Snapchat’s CEO, grew up in the Los Angeles area. He studied product design at Stanford University and met Murphy, who was two years ahead of him and studying math, at the Kappa Sigma frat house.
The two eventually developed an app that could send photo messages to contacts with a timer that would remove them in 10 seconds or less and called it Picaboo. It flopped. Rebranded as Snapchat, the app took off in the fall of 2011. In late 2013 Spiegel turned down a $3 billion buyout offer from Facebook. In May 2015, Snapchat raised $538 million in new funding, reportedly valuing the company at about $16 billion.
Forbes estimates that Spiegel and Murphy each have ownership stakes of about 13% and 11%, respectively. In September 2014 the duo got rid of a significant distraction, settling out of court with another former fraternity brother and early creator of the app, Reggie Brown.
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