Contents
What is Steve Chen’s Net Worth?
Steve Chen is a Taiwanese web entrepreneur who has a net worth of $500 million. He is finest recognized for being the co-founder and former Chief Technology Officer of the favored web site YouTube. Google acquired YouTube in October 2006 for $1.65 billion in Google inventory. Steve and his YouTube co-founder Chad Hurely later co-founded one other video firm known as MixBit.
Early Life
Steve Chen was born August 18, 1978 in Taipei, Taiwan. He was eight years outdated when his family immigrated to Prospect Heights, Illinois.
For college he attended the University of Illinois at Urbana-Champaign. It’s unclear if it is a whole coincidence, however his future YouTube co-founder Jawad Karim attended the identical college. Jawad dropped out in his junior yr.
PayPal
Both Steve and Jawad moved to Silicon Valley the place, as soon as once more undecided if that is coincidental, they each wound up working at PayPal which on the time was a fledgling startup.
At PayPal, Steve and Jawad additionally befriended a co-worker named Chad Hurley.
In August 2000, eBay acquired PayPal for $1.5 billion in money. Steve, Jawad and Chad all made just a little bit of cash from the sale. All three additionally caught round for a number of extra years. By early 2005 they’d all left PayPal/eBay and have been in search of the subsequent massive thought. They would incessantly meet up at Max’s Opera Cafe in Palo Alto, California to brainstorm startup concepts. In the meantime, Steve truly labored at Facebook for a number of months.
Getty Images
YouTube
There are two variations of how YouTube was conceived. The first model has Jawad merely suggesting a video sharing web site at considered one of their brainstorming classes. Jawad purportedly had the concept after Janet Jackson’s breasts have been uncovered through the Super Bowl halftime present and he discovered it tough to find the clip on the web the next day. The second model, which can or will not be a little bit of company PR/fiction, claims that Chad filmed a video at a cocktail party hosted by Steve they usually realized there wasn’t a straightforward approach to add that clip to the net.
Either means, the primary model of the YouTube web site was launched in February 2005. In April 2005 Jawad uploaded the very first video to the positioning, a video had taken months earlier whereas visiting the San Diego Zoo.
Around the time of their launch MySpace was shortly rising as one of the crucial common web sites on this planet. As hundreds of thousands of individuals created MySpace accounts, they quickly found YouTube would enable them to add after which embed a preferred music video to their MySpace web page. YouTube grew in lock-step with MySpace.
In December 2005 YouTube reached a tipping level because of a “Saturday Night Live” sketch known as “Lazy Sunday.” At the time, DVRs have been nonetheless not in extensive use so the day after “Lazy Sunday” aired and folks wished to see this video they heard a lot about from mates who did catch it reside, headed to the web. YouTube made the video simply to seek out and watch on-line. This briefly brought about a copyright skirmish between YouTube and SNL and the video was truly faraway from the platform in February 2006. The clip wouldn’t reappear on YouTube till August 2013 when it was lastly re-uploaded by the formally SNL account.
Google Acquisition
On October 9, 2006, Google introduced it had reached a deal to accumulate YouTube for $1.65 billion in Google inventory.
Steve Chen obtained 625,366 Google shares within the sale. The shares have been price $326 million on the day the deal closed. If he by no means bought a single share, by 2021 these shares could be price almost $2 billion.
Chad Hurley obtained $345 million price of shares. Jawad obtained $64 million price of shares. Sequoia obtained $442 million price of shares and Artis obtained $83 million.
Personal Life
In 2009, Steve Chen married Park Ji-hyun (now Jamie Chen). At the time Jamie was a Google Korea product advertising and marketing supervisor. Steve and Jamie have a son named Joseph and a daughter named Clara. They moved to Taipei, Taiwan in 2019.
The Chens are main supporters of the Asian Art Museum of San Francisco the place Jamie was appointed a trustee in July 2012.
All internet worths are calculated utilizing knowledge drawn from public sources. When supplied, we additionally incorporate non-public suggestions and suggestions obtained from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as potential, until in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button under.
