Net Worth: $1.6 billion, up 6 percent
LAST YEAR: $1.5 billion
SOURCE OF WEALTH: Mobile app
THE MONEY: Snapchat’s valuation inched up to $16 billion from $15 billion, increasing Murphy’s net worth.
THE BUZZ: Keeps much lower profile than co-founder Evan Spiegel. Over last summer, Snapchat moved into series of low-slung, unlabeled buildings on Abbott Kinney and Venice boulevards. Venice company says more than 100 million people use Snapchat every day, and each user spends between 25 and 30 minutes engaged in the app’s offerings during that period. Yet other than touting app stats and community service projects, company and executives notorious for not talking to media. Leaked Sony emails show Snapchat has established deep ties with Silicon Valley venture capital firms and traditional media companies. Murphy said to have $2.1 million two-bedroom home in Venice.
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