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What is Reid Hoffman’s Net Worth?
Reid Hoffman is an American web entrepreneur and enterprise capitalist who has a net worth of $3 billion. Reid Hoffman is finest often known as the co-founder of the net social community LinkedIn. He additionally co-founded the AI software program firm Inflection AI, and is a companion on the enterprise capital agency Greylock Partners, via which he’s a prolific angel investor. Before his success with LinkedIn, Reid was a high-level government at PayPal, in the end rising to an Executive Vice President. At PayPal, Hoffman’s tasks included all exterior relationships (together with funds infrastructure), enterprise improvement, worldwide, authorities and authorized. He was instrumental to the corporate’s acquisition by eBay and accountable for partnerships with Intuit, Visa, MasterCard and Wells Fargo. Prior to becoming a member of PayPal in 1998, Hoffman was the founding father of (failed) on-line courting web site SocialNet, which some regard as the primary on-line social community.
Reid Hoffman famously was one of many earliest buyers in Facebook. He was additionally one of many earliest investor in his buddy Mark Pincus‘ gaming firm Zynga.
LinkedIn Acquisition
When Microsoft purchased LinkedIn for $29 billion in 2016, Reid owned 14.5 million shares of the corporate. The Microsoft deal purchased LinkedIn out at $192 per share so Reid’s stake was value $2.8 billion, pre-tax.
Early Life and Education
Reid Hoffman was born on August 5, 1967 in Palo Alto, California to William Jr. and Deanna, and was raised in Berkeley. Growing up, he was enthusiastic about tabletop roleplaying video games; on the age of 12, he had his first paid job as an editor on the Oakland-based recreation firm Chaosium. As a teen, Hoffman went to the Putney School in Vermont, the place he studied epistemology and farmed maple syrup. He went on to attend Stanford University, incomes his BS in cognitive science and symbolic programs. Hoffman subsequently went to the University of Oxford’s Wolfson College, from which he graduated with a MSt in philosophy in 1993.
Career Beginnings
Deciding to pursue an entrepreneurial profession after college, Hoffman landed an internship on the Napa Valley vineyard Inglenook. Following that, he joined Apple Computer, after which Fujitsu. In 1997, Hoffman co-founded his first firm, SocialNet.com. He subsequently grew to become a member of the board of administrators of PayPal as the corporate was being based. In 2000, Hoffman left SocialNet.com to turn out to be the COO of PayPal. He was made accountable for the corporate’s exterior relationships pertaining to enterprise improvement, authorities, and funds infrastructure, amongst different areas. Hoffman was later promoted to government vice chairman of PayPal.
In late 2002, Hoffman co-founded LinkedIn with a former college classmate, a former Fujitsu colleague, and two of his former SocialNet.com colleagues. The platform formally launched in May of 2003 as one of many first business-focused on-line social networks. LinkedIn grew considerably through the years; by late 2014, it had greater than 332 million members from all over the world, and ultimately, it amassed 800 million members.
For the primary 4 years of LinkedIn’s operation, Hoffman was the corporate’s founding CEO. He then grew to become chairman and president of merchandise, earlier than turning into government chairman in 2009. Two years after that, LinkedIn went public, with Hoffman proudly owning a stake valued at $2.34 billion.
Investing
Beyond his entrepreneurship, Hoffman is called one of the vital prolific and profitable angel buyers in Silicon Valley. In 2010, he grew to become a companion of the enterprise capital agency Greylock Partners, and made his first funding within the on-line lodging market Airbnb. At Greylock, Hoffman invests in such areas as shopper providers, social gaming, cell, enterprise software program, and social networks. He has invested in such firms as Digg; Tagged; Viki; TrialPay; Flickr; Kongregate; Edmodo; Swipely; SixApart; Coda; Blockstream; Neeva; and Entrepreneur First. Hoffman has additionally made quite a few notable investments in transportation-oriented firms, together with Nuro, Nauto, Convoy, Joby Aviation, and Aurora.
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Speaking
Hoffman speaks steadily at public occasions. He has spoken at TED and XPrize Foundation conferences; Fast Forward’s Accelerate Good Global; TechCrunch Disrupt; the Knight Foundation Symposium; and the Bloomberg Equality Summit. Hoffman additionally does lectures at such faculties as Oxford, Harvard, Stanford, and MIT.
Writing
As an creator, Hoffman co-wrote “The Start-Up of You: Adapt to the Future, Invest in Yourself, and Transform Your Career” with Ben Casnocha. Published in 2012, it grew to become a New York Times and Wall Street Journal bestseller. Following this, Hoffman co-authored “The Alliance: Managing Talent within the Networked Age” with Casnocha and Chris Yeh; it too grew to become a New York Times bestseller. Hoffman reunited with Yeh to co-write the 2018 e book “Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies.” Beyond books, Hoffman has posted quite a few essays on LinkedIn, and has penned op-eds for the Washington Post and Strategy+Business.
Podcasting
In 2017, Hoffman launched his podcast “Masters of Scale,” on which he brings up seemingly impractical enterprise theories and proves them out via conversations with profitable entrepreneurs. Episodes have featured such company as Land O’Lakes CEO Beth Ford; Spanx’s Sara Blakely; Airbnb’s Brian Chesky; clothier Tory Burch; and TaskRabbit’s Stacy Brown-Philpot.
Personal Life and Philanthropy
Hoffman married his spouse Michelle Yee in 2004; collectively, they reside in Seattle, Washington.
Substantially concerned in philanthropy, Hoffman serves on the boards of such nonprofits as Kiva and Endeavor, in addition to the assume tank New America. He has additionally helped fund such organizations as Code for America, Alloy, and OpenAI, and has made donations to the Chan Zuckerberg Initiative, HimforHer, All Raise, and Opportunity@Work, amongst different teams. In the sphere of politics, Hoffman co-founded the pro-immigration lobbying group FWD.us; donated to the Mayday PAC and the campaigns of Democratic candidates reminiscent of David Chiu and Matt Dunne; and is a member of the Council on Foreign Relations.
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