Chad Hurley Net Worth 2024

What is Chad Hurley’s net worth?

Chad Hurley is an American tech entrepreneur who has a net worth of $700 million. Chad Hurley has earned his net worth as a co-founder and former Chief Executive Officer of the favored video sharing web site YouTube which was acquired by Google in late 2006 for $1.65 billion.

Early Life

Chad Meredith Hurley was born in Reading, Pennsylvania on January 24, 1977. As a baby he was enthusiastic about computer systems and digital media. In highschool he received two state titles as a runner and was a member of the Technology Student Association.

For college he attended Indiana University of Pennsylvania, graduating in 1999 with a B.A. in Fine Art.

PayPal

After graduating from college, Chad landed a job on the startup PayPal. He helped design what turned the PayPal brand. Two of his co-workers at PayPal have been Jawad Karim and Steve Chen.

PayPal was acquired by eBay in August 2002 for $1.5 billion in money. Chad, Steve and Jawad stayed with PayPal for a number of years. All three had left the corporate by early 2005.

Around this time the three started assembly at a neighborhood deli referred to as Max’s Opera House to brainstorm startup concepts. According to 1 legend, it was Jawad who recommended the three construct an internet site the place customers may add and share movies. Another model of the origin story has Chad and Steve pissed off at not with the ability to simply publish a video from a cocktail party to the web. Whatever the truth, the three in the end landed on the title YouTube.com.

YouTube

The three companions went to work creating the web site. The web site YouTube.com went stay in February 2005. At 8:27 pm on Saturday, April 23, 2005, Jawad posted the very first video to YouTube, a video he had taken a number of months earlier from a go to to the San Diego Zoo.

Between November 2005 and April 2006, YouTube raised $11.5 million in enterprise capital funding from Sequoia Capital and Artis Capital Management.

Their timing couldn’t have been extra excellent. MySpace had lately taken off and hundreds of thousands of individuals have been including video embeds from YouTube to their pages.

In December 2005 YouTube reached a tipping level due to a “Saturday Night Live” sketch referred to as “Lazy Sunday.” At the time, DVRs have been nonetheless not in vast use so the day after “Lazy Sunday” aired and other people needed to see this video they heard a lot about from mates who did catch it stay, headed to the web. YouTube made the video simply to seek out and watch on-line. This briefly induced 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 amass YouTube for $1.65 billion in Google inventory.

As CEO/founder, Chad instantly obtained 694,087 shares of Google from the sale. He additionally obtained 41,232 in a belief to be earned-out over time. At the time the deal closed, Google’s inventory value was $470. At that degree Chad’s shares have been value $345 million. If Chad nonetheless owned all of those shares by late 2021, they might be value practically $2 billion earlier than taxes.

Steve Chen obtained $326 million value of shares. Jawad obtained $64 million value of shares. Sequoia obtained $442 million value of shares and Artis obtained $83 million.

Chad stayed on as CEO of YouTube via October 2010.

MixBit

In August 2013, Chad and Steve launched a brand new video web site they referred to as MixBit. MixBit allowed customers to edit video utilizing their sensible telephones. MixBit created an expertise that will later be frequent in apps like Vine and Instagram.

MixBit was acquired by BlueJeans in August 2018

Kim Kardashian/Kanye West Lawsuit

In 2013 Chad received right into a little bit of controversy with Kim Kardashian and Kanye West.

In October 2013, Kanye West orchestrated an elaborate marriage proposal to Kim Kardashian at AT&T discipline in San Francisco. Everyone in attendance was required to signal a confidentiality settlement. According to a lawsuit that will later be filed, Chad was NOT invited, however someway manipulated his means into the occasion. Once inside he went forward and recorded the proposal and uploaded a two minute clip to MixBit. The video, which confirmed Kanye getting down on one knee with an orchestra and fireworks within the background, was quickly considered greater than 1.64 million occasions and was reposted to TMZ. He additionally issued a press launch selling the video on MixBit.

When Kim and Kanye discovered, they have been furious. They shortly filed a lawsuit in opposition to Chad. The lawsuit dragged on for practically two years. In the top it was settled with Chad agreeing to pay Kim and Kanye $440,000.

Other Investments

Chad was a principal investor within the now-defunct US F1 Team (Formula 1).

He is a minority proprietor of the NBA’s Golden State Warriors and MLS’ Los Angeles Football Club.

Personal Life

In 2000 Chad married Kathy Clark. They divorced in 2014. Kathy’s father Jim Clark is the billionaire tech investor behind firms like Silicon Graphics, WebMD and Netscape. Jim’s spouse (his fourth marriage) is Australian mannequin Kristy Hinze. Chad is three years older than Kristy… who was technically his mother-in-law throughout the marriage.

Real Estate

In 2013 Chad and Kathy paid an undisclosed quantity for a 10-acre property within the Silicon Valley city of Woodside, Ca. They offered this property in January 2019 for $14.25 million.

In 2013 they paid $9 million for an 8,600 square-foot mansion in Atherton, a number of cities over from Woodside. Today this house is value $15-20 million.

Chad and Kathy additionally owned two items in a New York City constructing.