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What is Tom Anderson’s net worth?
Tom Anderson is an American entrepreneur who has a net worth of $60 million. Tom Anderson earned his net worth because the co-founder of the social networking web site Myspace and thru profitable actual property investments. He co-founded Myspace in 2003 with Chris DeWolfe, and was later president of Myspace and a strategic adviser for the corporate. He turned well-known as a result of his photograph was the default buddy for everybody who joined the social community.
Early Life
Tom Anderson was born on November 8, 1970, in Escondido, California. His father was an entrepreneur who “had one loopy thought after one other.” While attending San Pasqual High, Tom was a hacker utilizing the pseudonym “Lord Flathead,” and after he hacked into Chase Manhattan Bank’s pc system, the FBI raided the Anderson dwelling and confiscated Tom’s pc gear. They did not arrest Anderson as a result of he was solely 14 on the time, however he was placed on probation. After highschool, he enrolled on the University of California, Berkeley to check English and later served because the lead vocalist of the band Swank. Tom moved to Taiwan, then returned to California to attend movie college on the University of California, Los Angeles.
Career
Tom initially got here to work on Myspace by way of an organization known as eUniverse which was based by web entrepreneur Brad Greenspan.
In 2000, Anderson was working as a copywriter and product tester at a digital storage firm known as XDrive. At XDrive he met future Myspace co-founder Chris DeWolfe. The firm went bankrupt the next 12 months. Tom and Chris quickly co-founded ResponseBase, a direct advertising firm.
In late 2002, Tom and Chris bought ResponseBase to eUniverse and have become eUniverse workers. The thought behind Myspace happened after the 2002 launch of Friendster. Several individuals with Friendster accounts have been workers at eUniverse they usually shortly acknowledged the potential for such a social community. They fashioned a crew and set about to imitate the extra fashionable options of the rival social networking web site.
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The thought behind Myspace happened after the 2002 launch of Friendster. Several individuals with Friendster accounts have been workers at eUniverse. They shortly acknowledged the potential for such a social community. They fashioned a crew and set about to imitate the extra fashionable options of the rival social networking web site.
Anderson created the primary Myspace pages in 2003, and after eUniverse turned Intermix Media, Myspace gained recognition. By the summer time of 2005, when Myspace was bought to News Corp, the social community was utilized by 16 million individuals monthly, and by January 2006, 200,000 new customers have been signing up each day. Myspace had grown to turn into the most well-liked social community within the U.S. by June 2006, and it held this rank till April 2008 when it was taken over by Facebook. From that time on, Myspace declined quickly in recognition. In the prime of Myspace, the corporate employed 1,600 workers. That was lowered to 1,000 after shedding 30% of the workforce in June 2009. By June 2011, additional job cuts lowered its measurement to 400 workers. In June 2011, Myspace was bought to Specific Media for $35 million plus a 5 % fairness stake in Specific Media. Justin Timberlake additionally took a small stake within the deal.
(Photo by Mark Mainz/Getty Images)
News Corp Acquisition
By now, most individuals know that News Corp acquired Myspace for $580 million. Prior to the sale, Myspace had been restructured a number of instances leading to a fairly sophisticated fairness shareholder pool. First off, the corporate had acquired $15.3 million in early funding from an organization known as VantagePoint. Then, in February 2005, Myspace took on one other $15.5 million from an organization known as Redpoint. At the time of the Redpoint funding, 25% of the fairness was put aside for six workers who have been thought of the founders of Myspace. This group included Tom Anderson and Chris DeWolfe who every bought $3 million value of their fairness to Redpoint.
There was one catch to the Redpoint funding although – If Redpoint was capable of promote Myspace for higher than $125 million inside one 12 months, the founders stake can be restricted at that $125 million valuation. That meant, when News Corp acquired Myspace for $580 million, the six founders acquired a mixed $30 million.
According to the ebook “Stealing Myspace” by Wall Street Journal reporter Julia Angwin, DeWolfe and Anderson every took $10 million of that minimize, leaving $10 million for the remaining 4 founders to separate. DeWolfe and Anderson have been then each given two-year $30 million contracts with News Corp. In the tip, Redpoint made $44.5 million off their $15.5 million funding in lower than a 12 months. VantagePoint made $139 million off their $15.3 million funding. In whole, between money outs, acquisitions and wage, Anderson and DeWolfe each grossed roughly $40 million from the Myspace enterprise.
Other Ventures
Anderson invested a portion of his Myspace earnings into distressed actual property, most notably in Las Vegas, which reportedly turned fairly worthwhile. He additionally invested in a Facebook playing app known as RocketFrog. In 2009, Tom had a cameo within the Judd Apatow movie “Funny People,” which starred Adam Sandler, Seth Rogen, and Leslie Mann. Today, he describes himself as “fortunately retired.”
Personal Life
Tom is an lively consumer of different social media platforms, comparable to Reddit, Facebook, and Instagram. He is concerned about images and has stated that his buddy, photographer Trey Ratcliff, helped him develop his images abilities. Anderson said of his images, “I’m not essentially making an attempt to characterize nature precisely. I’m making an attempt to make one thing stunning like a painter would.” He enjoys touring internationally to take pictures of landscapes in locations like Myanmar and Thailand, and in an interview with Influencive.com, he shared, “My ardour for images is what retains me touring. I’ve a number of properties in a number of cities, however I’m not happy simply staying the place I’m snug. I wish to maintain creating.” Anderson posts his spectacular pictures on his Instagram account (“myspacetom”), the place he has amassed greater than 630,000 followers.
All internet worths are calculated utilizing knowledge drawn from public sources. When offered, we additionally incorporate non-public suggestions and suggestions acquired from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as attainable, except in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button under.
