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What is Tim Westergren Net Worth and Salary?
Tim Westergren is an American composer and report producer who has a net worth of $25 million. Pandora went public in 2011. At the shut of day on the IPO, Pandora had a market cap of $2.6 billion. The firm achieved its highest market cap as a public firm in mid-2014, when it topped roughly $7 billion in worth. A yr later the market cap had been lower in half to $3.5 billion. By December 2017 the market cap had fallen to $1.5 billion. In February 2019, Pandora was acquired by Sirius XM Holdings for $3.5 billion in stock.
In February
Stock Holdings
At his peak, Tim Westergren owned 2,214,991 shares of Pandora. In March 2017 when the the corporate’s value per share was $12 and the market cap was $1.6 billion, Tim’s stake was price $26 million.
His shares would have transformed into roughly $50 million price of Sirius shares upon the February 2019 acquisition at a $3.5 billion valuation. Over the following three years, Sirius shares dropped roughly 30% in worth.
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Biography
Tim Westergren was born December 21, 1965 in Minneapolis, Minnesota. He co-founded of Pandora Radio in 2000. He served because the Chief Strategy Officer for Pandora Media, Inc. between July 2004 and February 2014.
Tim can be He is an award-winning composer and report producer with 10+ years of expertise within the music trade. Westergren has recorded with indie labels, scored the music for characteristic movies and carried out extensively. He holds a bachelor’s diploma from Stanford University, the place he studied laptop acoustics and recording expertise.
In 1999, he based Pandora Media, together with co-founders Will Glaser and Jon Kraft, in Oakland, California. The firm went public in 2011 and was acquired by Sirius in 2019. Tim stepped down as CEO in June 2017.
Westergren and Glaser additionally created the Music Genome Project, a mathematical algorithm to arrange music, and the idea was marketed by Pandora Media. The software program makes use of a mathematical algorithm to foretell an individual’s musical style based mostly on a small musical sampling. In 2010, Tim Westergren was named one of many 100 most influential individuals on the earth by Time journal.
Point Reyes Mansion
In July 2008, Tim and his spouse Smita paid $1.35 million for a 17-acre property in Point Reyes Station, California, in Marin County. The property featured a 2,000 sq. foot dwelling that dated again to 1920 and was at one time occupied by monks.
In 2014 Tim and Smita drew ire from their neighbors after they submitted plans to construct an 8,300 sq. foot compound on the plot. Over two dozen criticism letters have been written and despatched to the native improvement company. Local residents have been involved that the scale and variety of deliberate buildings indicated he was really creating extra of a resort.
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