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What Is David Baszucki’s Net Worth?
David Baszucki, a Canadian-born American entrepreneur, inventor, and engineer, boasts a net worth estimated at $2.4 billion. This substantial wealth primarily stems from his role as the co-founder and CEO of Roblox Corporation, a prominent video game developer. His earlier venture, Knowledge Revolution, which he co-founded and led as CEO, was acquired by MSC Software for $20 million in 1998, marking an early success in his career.
Early Career and Ventures Before Roblox
Born on January 20, 1963, in Canada, David Baszucki’s early life showed a propensity for science and technology. While specific details about his early childhood home are not publicly available, it is known that he attended Eden Prairie High School in Minnesota. During his high school years, Baszucki distinguished himself as the captain of the school’s TV quiz team, demonstrating his intellectual acumen. Following high school, he pursued higher education at Stanford University, focusing on computer science and engineering. He graduated in 1985 as a General Motors Scholar in electrical engineering, setting the stage for his entrepreneurial endeavors.
In the late 1980s, David Baszucki, in collaboration with his brother Greg, embarked on a project to develop an educational supplement capable of creating 2D physics experiments. This initiative led to the creation of “Interactive Physics,” a simulation software that allowed users to model and experiment with physics concepts in a virtual environment. To market and distribute “Interactive Physics,” the Baszucki brothers co-founded Knowledge Revolution. The software garnered numerous accolades for its innovative approach to education and its user-friendly interface. Building on the success of “Interactive Physics,” they subsequently developed “Working Model,” a mechanical design software aimed at professionals and engineers. In late 1998, Knowledge Revolution was acquired by MSC Software, a simulation software company, for $20 million. This acquisition marked a significant milestone in Baszucki’s career, providing him with valuable experience in the software industry and setting the foundation for his future ventures.
Following the acquisition of Knowledge Revolution, David Baszucki assumed the role of vice president and general manager at MSC Software, serving in this capacity from 2000 to 2002. During his tenure, he gained further insights into the management and operation of a large software company. In 2003, Baszucki transitioned from MSC Software to launch his own angel investment firm, Baszucki & Associates. From 2003 to 2004, Baszucki led Baszucki & Associates, providing seed funding to various startups, including Friendster, a social networking service. While specific details regarding the exact amount invested in Friendster are not publicly disclosed, this investment reflects Baszucki’s early interest in the potential of social networking and online platforms.
The Rise of Roblox and David Baszucki’s Net Worth
In 2004, David Baszucki partnered with Erik Cassel, the former VP of Engineering at Interactive Physics, to initiate the development of a prototype for what would eventually become Roblox. Initially, the project was named DynaBlocks, but it was later rebranded as Roblox in 2005. The Roblox website officially launched in 2006, marking the beginning of its rapid growth and widespread adoption. Roblox is described as a platform “powered by a global community of millions of developers who produce their own immersive multiplayer experiences each month using Roblox Studio, our intuitive desktop design tool.” Roblox Studio allows users to create and share their own games and experiences, fostering a vibrant ecosystem of user-generated content.
The company behind Roblox is called the Roblox Corporation. David Baszucki’s stake in the company is approximately 13%, which translates to an estimated value of $4.2 billion. In late 2021, “The New York Times” published an article alleging that David and his relatives used the Qualified Small Business Stock tax break multiple times to avoid paying millions of dollars in taxes. The article raised questions about the tax strategies employed by Baszucki and his family, but specific details regarding the amounts involved and the legality of the transactions are not readily available.
Compensation Details
In 2020, David Baszucki’s total compensation from Roblox amounted to $6.8 million. This figure encompasses his base salary, bonuses, and other forms of compensation. According to filings submitted to the SEC in April 2022, David Baszucki’s total compensation from Roblox in 2021 reached $233 million. The vast majority of this compensation came in the form of restricted stock options that vest over several years and are dependent on the achievement of specific milestones. The structure of this compensation package incentivizes Baszucki to continue driving the growth and success of Roblox Corporation.
Philanthropic Activities
David Baszucki resides in San Francisco with his wife, Jan Ellison, who is the author of the “USA Today” bestseller “A Small Indiscretion: A Novel,” and their four children. The family’s primary residence is not publicly known.
Following the 2020 murder of George Floyd, David Baszucki published a blog post expressing his views on racial injustice and inequality. In his post, he stated, “With the recent tragedy in my hometown of Minneapolis, we are faced with another occurrence of injustice against the Black community. Many people in our country have justifiably lost faith in the American dream and the prospects of a fair society. For Black Americans who have endured years of systemic injustice, this loss of faith is sadly not new. We are seeing people speak up and take to the streets to demand equality, and many of us are grappling with what to do to make our world a more just and fair place.” This statement reflects Baszucki’s commitment to social justice and equality.
From 2016 to 2021, David and Jan donated $6 million to UC San Francisco. These donations supported various research initiatives and medical programs at the university. In December 2021, UC San Francisco established the Baszucki Lymphoma Therapeutics Initiative, which is dedicated to increasing “the effectiveness and availability of chimeric antigen receptor T-cell (CAR T) therapy for lymphoma patients.” This initiative was inspired by Jan’s father, who nearly died of lymphoma but survived with the help of CAR T therapy. The establishment of the Baszucki Lymphoma Therapeutics Initiative demonstrates the couple’s commitment to supporting medical research and improving patient outcomes.
In March 2021, David and Jan Baszucki established the philanthropic organization the Baszucki Group, which soon established the Baszucki Brain Research Fund. The Milken Institute partnered with the Baszucki Brain Research Fund to launch a grant program “aimed at advancing therapeutic discovery for bipolar disorder.” The specific amount allocated to this grant program and the details of the research projects it supports are not publicly available, but this initiative reflects the couple’s interest in funding research into mental health disorders.
Awards and Recognition
David Baszucki has received numerous awards and honors in recognition of his entrepreneurial achievements and contributions to the technology industry. In 2017 and 2018, he was included in Goldman Sachs’ list of the “100 Most Intriguing Entrepreneurs.” In 2018 and 2019, Comparably named him one of the “Best CEOs for Diversity.” In 2021, Bloomberg Businessweek featured David on its “Bloomberg 50” list of “the people and ideas that defined global business.” These accolades highlight Baszucki’s impact on the business world and his commitment to diversity and inclusion.
