Snap Inc. CEO and Snapchat Co-Founder Evan Spiegel is living the dream. Just 27 years old, Spiegel is newly married to supermodel Miranda Kerr, lives in a luxurious Los Angeles home, drives expensive cars and dresses in fine clothing. He can certainly afford it: The Stanford University dropout is one of the world’s youngest self-made billionaires.
Read on to get the details on Evan Spiegel’s net worth, how he built his incredible fortune, his life with Kerr and more.
Evan Spiegel Net Worth: $4 Billion
In 2016, Evan Speigel’s earnings included a base salary of $503,205, a $1 million bonus and $901,635 in perks — a grand total of $2.4 million. This year, however, the Snap Inc. CEO will earn an annual salary of just $1, a common figure for leaders at fast-growing public companies. A pay cut shouldn’t be a problem considering Forbes cites Evan Spiegel’s net worth as $4 billion.
Living with wealth isn’t anything new for Spiegel. Raised in the posh Pacific Palisades neighborhood of Los Angeles, he and his two sisters attended Crossroads, an exclusive Santa Monica, Calif., private preparatory school. Tuition for the 2017-18 school year is $33,227 for elementary students and $39,389 for secondary school students.
Spiegel enrolled at Stanford University for the 2008-09 school year, which is where he rushed the Kappa Sigma fraternity and met Frank Reginald “Reggie” Brown IV and Bobby Murphy. Spiegel dropped out of college a few credits short of graduating, according to Entrepreneur.
Snapchat — the disappearing photo, video and chat app beloved by tweens, teens and young adults — was launched on Apple iOS in 2011 under a different name: Picaboo. Created by Spiegel, Murphy and Brown — the latter of whom was pushed out of the company — the app was largely marketed toward women. It was not a hit. The fraternity brothers rebranded and relaunched the app a few months later.
According to Fortune, Snapchat had 1,000 daily active users by late 2011, 10,000 by early 2012 and 1 million by the end of 2012. The app is used by more than 166 million people per day as of May 2017. Through the years, Snapchat rolled out new features like stories, geofilters and lenses that kept users engaged. This grabbed the attention of many influential people, including Facebook Founder and CEO Mark Zuckerberg, who offered to buy Snapchat in 2013 for $3 billion.
In September 2016, Snapchat was renamed Snap Inc. and later issued an IPO in March 2017. Spiegel was 26 years old at the time, making him the youngest public company leader. Snap Inc. was valued at $28 billion on its first day of trading.
Spiegel and Murphy — who serves as Snap Inc. chief technology officer — each own roughly 18 percent of Snap Inc. stock. Their voting shares keep them in control of the board.
Evan Spiegel Marriage
In June 2015, Evan Spiegel and supermodel Miranda Kerr announced they were in a relationship. A little more than a year later, the Snapchat CEO proposed. Not surprisingly, the couple used Bitmojis to announce their engagement on Snapchat. Miranda Kerr’s net worth is $45 million, according to Celebrity Net Worth.
Considering Evan Spiegel’s net worth passes the $1 billion mark four times over, the couple could have had an outrageously lavish wedding, but they didn’t. Instead, the couple married in the backyard of their Brentwood, Calif., home over Memorial Day weekend. Only 40 people were present for the event. The couple took major strides to shield attendees from paparazzi, shuttling them to their residence from secret locations in vehicles with tinted windows.
After the wedding, the couple jetted off to Fiji’s exclusive Laucala Island resort for a lavish honeymoon, according to E! News. Owned by Red Bull co-founder Dietrich Mateschitz, rooms cost $12,800 to $60,000 per night.
Evan Spiegel Spending
In May 2016, Evan Spiegel and then-girlfriend Miranda Kerr purchased a $12 million estate in the Brentwood neighborhood of Los Angeles. The previous residence of Harrison Ford, the home has four bedrooms and six bathrooms — an upgrade from the $3.3 million, three-bedroom, 2.5-bathroom Brentwood home Spiegel had purchased in 2013.
In true billionaire fashion, the famous CEO drives a Ferrari 458 Spider, which has a base price of $263,553, according to Cars.com. He also has a helicopter pilot’s license, which might come in handy for dodging notoriously heavy Los Angeles traffic.
Unlike some tech geniuses, Spiegel has an eye for fashion. In 2015, he shared some of his favorite fashion items with GQ magazine. These included James Perse white v-neck shirts ($60 to $95 each), Patrik Ervell black standard jeans ($255 per pair) and Common Projects white perforated low-top Achilles sneakers ($415 for a pair). His style landed him the October 2015 cover of the men’s edition of Vogue Italy.