What is Bobby Murphy's Net Worth?
Bobby Murphy is an American businessman and entrepreneur who has a net worth of $2.2 billion. Bobby Murphy is best known as the co-founder of Snapchat, alongside Evan Spiegel. Bobby owns 14% of Snapchat.
At the peak of Snap's stock price, Bobby has been worth as much as $10 billion. In the 10 months between mid September 2021 and late July 2022, Bobby's net worth plunged from $10 billion to around $1.5 billion as the share price of Snap fell from $83 to around $10.
Early Life
Bobby Murphy was born on July 19, 1988. His mother emigrated from the Philippines. When he was a kid, both of his parents worked for the state of California.
Snapchat
Bobby met his future Snapchat co-founder Evan Spiegel while they were undergraduates at Stanford University. They were Kappa Sigma fraternity brothers at the school. They actually had a third co-founder named Reggie Brown. Together the three created a Snapchat precursor called Picaboo over the summer of 2011. Around this time Reggie Brown left the company. He would later sue his co-founders and Snapchat, claiming that the company and app was his idea. Snapchat ultimately paid Reggie a $158 million settlement in September 2014.
In 2013, Evan and Bobby rejected a $3 billion acquisition offer from Mark Zuckerberg.
Instead the company decided to seek an IPO. On March 2, 2017, Snap Inc debuted on the New York Stock Exchange. The company was expected to go public at $17 per share but actually opened up at $24, ending the day with a $20 billion market cap. On the day of the IPO Spiegel and Murphy each sold 16 million shares resulting in a $272 million pre-tax windfall (roughly $180 million after taxes) for both founders.
Murphy serves as CTO of Snapchat, overseeeing the company's engineering and product development.
Drew Angerer/Getty Images
Net Worth Over Time
As of this writing, Bobby Murphy owns around 200 million shares of Snapchat. At the peak of the stock's price, his shares were worth around $9 billion. At the stock's lowest point, as recently as January 2019, Bobby's shares were worth $1.2 billion. By March 2019 his net worth had risen back up to around $2.3 billion.
Murphy was 26 on the day of the IPO which made him one of the youngest billionaires on the planet. By June 2020 his net worth had climbed back up to $4.2 billion. By December 2020, his net worth had climbed back up to $9 billion. Unfortunately by July 2022, his net worth had dropped all the way back down to $1.5 billion.
