$4.9 billion
up 48.5%
Spiegel, 34, chief executive of Snap Inc., can thank his tech company for being the largest source of his wealth. Spiegel co-founded the social media company, known for disappearing vertical content, with fellow Wealthiest Angeleno Bobby Murphy in 2011 when he was just 21 years old and a student at Stanford University. He graduated six years later in 2018 with a bachelor’s degree in product design – in part because he was busy growing Snap into one of the biggest startup success stories in Los Angeles. He proved that billion-dollar ventures could thrive outside of Silicon Valley. The success of Snap Inc.’s flagship product offering quickly caught fire with rival social networking platform Meta, which reportedly tried to acquire Snap for $6 billion back in 2013. Several companies have copied Snap’s 24-hour limit on media and augmented reality face filters. Real estate: Though Spiegel’s primary residence for his family is on a luxurious $145 million property in Holmby Hills, he owned two homes in Brentwood until very recently – one of them sold for around $16 million. That was $4 million more than what he bought it for in 2016. His other home is a $3.3 million property he bought in 2014. Accolades: Spiegel became one of the youngest billionaires in 2017, when Snap went from a startup to a publicly traded company.
