Pierre Omidyar Net Worth
Pierre Omidyar has an estimated net worth of $9.3 billion. Iranian American economist Pierre Omidyar is best known as the founder and chairman of eBay. He earned the majority of his income from eBay.
eBay’s founder and chairman is Pierre Omidyar. Omidyar earned a bachelor’s degree in computer science from Tufts University in 1988 and worked for both Macintosh and Apple before founding eBay. By the end of 1998, the company had 2.1 million customers.
To calculate the net worth of Pierre Omidyar, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as loans and personal debt, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$9.3 Billion|
|Monthly Salary:||$10 Million+|
|Annual Income:||$100 Million+|
|Source of Wealth:||Entrepreneur, Programmer, Businessperson|
Pierre Morad Omidyar was born in Paris, France, on June 21, 1967. Omidyar, like many other high-tech entrepreneurs, had no intention of becoming an Internet tycoon. As a child, he moved to Maryland when his father accepted a residency at Johns Hopkins University Medical Center. At the age of 14, he wrote his first computer program to catalog books for the school library.
He earned a computer science degree from Tufts University in 1988 and went to work for a company that created Macintosh software. Later, he worked for Apple subsidiary Claris before assisting in the formation of Ink Development Corp. in 1991. Later renamed eShop, the company was purchased by Microsoft in 1996.
Launch of eBay
eBay, the multibillion-dollar online auction company that revolutionized e-commerce, began in the summer of 1995. On his personal website, Omidyar wrote code for a page called Auction Web, which allows people to list items for auction.
To his surprise, the site drew so many buyers and sellers that he soon had to create a separate auction site, which he dubbed eBay. By charging sellers between 25 cents and $2 for posting their auction notice and taking a small percentage of the sale, the company made money simply by providing a meeting place for buyers and sellers.
By this point, Omidyar was working for General Magic, an Apple-backed Internet phone venture. However, his auction site had grown by leaps and bounds by that point. He quit his day job nine months after the company’s first auction to devote himself full time to eBay.
Omidyar was appointed chairman of eBay in May 1998, at which time he announced the appointment of Meg Whitman as president and CEO. Under Whitman’s leadership, eBay thrived, expanding the company’s services through new site launches (in Australia, Canada, Germany, Japan, and the United Kingdom), acquisitions, and joint ventures.
By the end of 1998, eBay had 2.1 million members and $750 million in revenue, which drew the attention of e-commerce behemoth Amazon.com, which began running its own auctions in 1999. Smaller auction sites have entered the fray, as have traditional marketers such as clothing companies, which have begun to offer auctions on surplus products. The online auction site was so successful that some industry observers predicted that Internet auctions would eventually become the dominant e-commerce model.
Omidyar accepted his first board position outside of eBay in January 2000. He joined the board of directors of ePeople, an online technical support marketplace. He later founded the philanthropic organization Omidyar Network. With a stated interest in journalism, he also co-founded First Look Media with Glenn Greenwald, the former Guardian reporter who published government documents leaked by National Security Agency contractor Edward Snowden. The Intercept, the company’s first online publication, debuted in early 2014. According to Omidyar, the venture emphasizes “the fundamental importance of a free and independent press” for a democratic society.
Omidyar is married to Pamela Wesley, with whom he has three children.
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