Net Worth Ranker
What Is Reid Hoffman’s Net Worth?
Reid Hoffman, a prominent figure in the world of internet entrepreneurship and venture capital, has accumulated a significant net worth. As of today, Reid Hoffman’s net worth is estimated to be around $3 billion. This wealth is primarily derived from his successful ventures, including co-founding LinkedIn, his early investments in companies like Facebook and Zynga, and his role as a partner at Greylock Partners.
The Rise of Reid Hoffman’s Net Worth Through Key Ventures
Hoffman’s journey to a multi-billion dollar net worth began with his early career moves. Before LinkedIn, he held an executive position at PayPal, rising to Executive Vice President. His responsibilities included managing external relationships, business development, and navigating international, governmental, and legal landscapes. He played a crucial role in PayPal’s acquisition by eBay and established key partnerships with major financial institutions such as Intuit, Visa, MasterCard, and Wells Fargo. Before PayPal, Hoffman ventured into the world of online social networking by founding SocialNet.com. Though it didn’t achieve the success of later ventures, it demonstrated his early vision for connecting people online.
The true catalyst for Reid Hoffman’s net worth accumulation was the co-founding of LinkedIn in late 2002. Launched in May 2003, LinkedIn quickly became a leading platform for professional networking. As the founding CEO for the first four years, Hoffman guided the company’s growth and established its position in the market. He transitioned to chairman and president of products before becoming executive chairman in 2009. The platform grew to over 332 million members by late 2014. By the time Microsoft acquired LinkedIn for $29 billion in 2016, Hoffman owned 14.5 million shares. At the acquisition price of $192 per share, his stake was worth $2.8 billion before taxes. This single event significantly boosted his net worth, solidifying his status as a tech mogul.
Reid Hoffman’s Net Worth Amplified by Strategic Investments
Beyond his operational roles, Hoffman has also proven to be a keen investor. As an angel investor in Silicon Valley, he identified and supported promising startups, further contributing to his net worth. In 2010, he joined Greylock Partners, a venture capital firm, and made his first investment in Airbnb. At Greylock, his investment focus includes consumer services, social gaming, mobile, enterprise software, and social networks. Some of his notable investments include Digg, Tagged, Viki, TrialPay, Flickr, Kongregate, Edmodo, Swipely, SixApart, Coda, Blockstream, Neeva, and Entrepreneur First. These investments span various sectors, showing his diversified investment strategy. Hoffman has also invested in transportation-oriented companies, including Nuro, Nauto, Convoy, Joby Aviation, and Aurora.
Reid Hoffman’s Early Life and Education
Reid Hoffman was born on August 5, 1967, in Palo Alto, California, to William Jr. and Deanna. He grew up in Berkeley. Even as a child, Hoffman displayed a penchant for games, taking on a paid role as an editor at Chaosium, a game company based in Oakland, at the age of 12. During his teenage years, Hoffman attended the Putney School in Vermont, where he studied epistemology and engaged in maple syrup farming. Hoffman later attended Stanford University, earning a BS in cognitive science and symbolic systems. He then went on to the University of Oxford’s Wolfson College, from which he graduated with an MSt in philosophy in 1993. These academic pursuits laid the groundwork for his analytical and strategic thinking, qualities that have underpinned his success as an entrepreneur and investor.
Reid Hoffman’s Career Beginnings
Hoffman’s career trajectory began with an internship at Inglenook, a winery in Napa Valley. He subsequently gained experience at Apple Computer and Fujitsu. In 1997, Hoffman co-founded his first company, SocialNet.com. Following this, he became a member of the board of directors of PayPal as the company was being founded. In 2000, Hoffman left SocialNet.com to become the COO of PayPal. He was made responsible for the company’s external relationships pertaining to business development, government, and payments infrastructure, among other areas. Hoffman was later promoted to executive vice president of PayPal.
Reid Hoffman’s LinkedIn
In late 2002, Hoffman co-founded LinkedIn with a former college classmate, a former Fujitsu colleague, and two of his former SocialNet.com colleagues. The platform officially launched in May of 2003 as one of the first business-focused online social networks. LinkedIn grew substantially over the years; by late 2014, it had more than 332 million members from around the world, and eventually, it amassed 800 million members. For the first four years of LinkedIn’s operation, Hoffman was the company’s founding CEO. He then became chairman and president of products, before becoming executive chairman in 2009. Two years after that, LinkedIn went public, with Hoffman owning a stake valued at $2.34 billion.
Reid Hoffman’s Other Activities
Hoffman is also an author, co-writing “The Start-Up of You: Adapt to the Future, Invest in Yourself, and Transform Your Career” with Ben Casnocha. Published in 2012, it became a New York Times and Wall Street Journal bestseller. Following this, Hoffman co-authored “The Alliance: Managing Talent in the Networked Age” with Casnocha and Chris Yeh; it too became a New York Times bestseller. Hoffman reunited with Yeh to co-write the 2018 book “Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies.” In 2017, Hoffman launched his podcast “Masters of Scale,” on which he brings up seemingly impractical business theories and proves them out through conversations with successful entrepreneurs.
Reid Hoffman’s Personal Life and Philanthropy
Hoffman married his wife Michelle Yee in 2004; together, they reside in Seattle, Washington. Substantially involved in philanthropy, Hoffman serves on the boards of such nonprofits as Kiva and Endeavor, as well as the think tank New America. He has also helped fund such organizations as Code for America, Alloy, and OpenAI, and has made donations to the Chan Zuckerberg Initiative, HimforHer, All Raise, and Opportunity@Work, among other groups. In the sphere of politics, Hoffman co-founded the pro-immigration lobbying group FWD.us; donated to the Mayday PAC and the campaigns of Democratic candidates such as David Chiu and Matt Dunne; and is a member of the Council on Foreign Relations.
