Evan Spiegel, born on June 4, 1990, in Los Angeles, California, is the co-founder and CEO of Snap Inc., the parent company of Snapchat. Raised in the affluent Pacific Palisades neighborhood, Spiegel is the eldest child of two successful lawyers. His privileged upbringing included memberships at private clubs and family vacations to Europe, the Bahamas, and Maui. From a young age, Spiegel exhibited a keen interest in technology, building his own computer with the guidance of a sixth-grade teacher. He further honed his skills as a graphic designer during his time at the Crossroads School for Arts and Sciences.
Early life and education
In 2008, Spiegel enrolled at Stanford University, where he joined the Kappa Sigma fraternity. It was here that he met future Snapchat CTO Bobby Murphy. The duo collaborated on various projects, including a college admissions website called Future Freshmen. In the spring of 2011, fraternity brother Reggie Brown shared an idea about sending disappearing photos, which Spiegel and Murphy found intriguing. The trio began developing this concept, leading to the launch of an early version of Snapchat, initially named Picaboo, in July 2011. By September 2011, the app was rebranded as Snapchat. As the app’s popularity surged, Spiegel made the pivotal decision to leave Stanford just a few credits shy of graduation to focus entirely on Snapchat. He eventually returned to complete his degree, earning a Bachelor of Science in Product Design in 2018.
Founding Snapchat
Under Spiegel’s leadership, Snapchat introduced innovative features that resonated with younger audiences, such as Stories and augmented reality lenses. The app’s emphasis on ephemeral content distinguished it from other social media platforms. In March 2017, Snap Inc. went public with a valuation of approximately $24 billion. Despite facing stiff competition from tech giants like Facebook, which replicated several of Snapchat’s features, Spiegel remained steadfast in his vision, focusing on user experience and innovation.
Net worth and financial standing
As of January 3, 2025, Spiegel’s net worth is estimated at $3.2 billion, ranking him #1,058 on Forbes’ list of billionaires. He and co-founder Bobby Murphy jointly own about a quarter of Snap Inc., with voting shares that grant them control over the board. Notably, Spiegel takes a salary of just $1 from Snap. Demonstrating a commitment to philanthropy, he has donated more than $280 million in Snap stock and, along with Murphy, pledged to donate 13 million shares to the youth-focused Snap Foundation.
Personal life
In his personal life, Spiegel married Australian supermodel Miranda Kerr in May 2017. The couple has three children and resides in Los Angeles, California. Kerr has been a vocal supporter of her husband’s endeavors, often expressing admiration for Snapchat’s innovative approach to social media.
Challenges and future outlook
Despite the initial success, Snap Inc. has faced challenges in achieving financial stability. In the first half of 2024, the company reported revenues nearing $2.2 billion but continued to operate at a loss, with net losses amounting to approximately $450 million. The company’s stock, which once peaked at over $80, has seen a decline, trading around $10 as of August 2024. In response, Spiegel announced a strategic shift towards augmented reality to reinvigorate investor confidence and maintain the company’s relevance in the competitive tech landscape.
Spiegel’s journey from a privileged upbringing to becoming a tech billionaire underscores his innovative mindset and resilience. His ability to anticipate and shape social media trends has solidified his status as a significant figure in the tech industry. As Snap Inc. navigates the evolving digital landscape, Spiegel’s leadership and vision will continue to play a crucial role in the company’s trajectory.
