What is Nicholas Woodman Net Worth – Biography & Career

Are you interested by to know What is Nicholas Woodman Net Worth, If sure? than you might be at proper place now. On this publish we’re going to talk about how much is Nicholas Woodman Net Worth. And we may even talk about about biography and profession.

What Is Nicholas Woodman’s Net Worth?

Nicholas Woodman is an American entrepreneur who has a net worth of $300 million. He earned fortune and fame because the founding father of GoPro, a know-how firm that manufactures motion cameras. Woodman was named Entrepreneur of the 12 months (Retail and Shopper Merchandise class) by Ernst & Younger in 2013, and in 2014, GoPro’s HERO3 HD digicam gained a Know-how & Engineering Emmy Award within the Cheap Small Rugged HD Camcorders. In 2015, Nicholas made it onto a number of “Forbes” lists: “Richest In Tech” (#73), “‘Forbes’ 400” (#389), and “Billionaires” (#782).

Early Life

Nicholas Woodman was born Nicholas D. Woodman on June 24, 1975, in Santa Clara County, California. After his dad and mom, Dean and Concepcion, divorced, his mom married Irwin Federman of U.S. Enterprise Companions in 1992. Dean got here from a Quaker household and co-based the Robertson Stephens funding financial institution. Nicholas graduated from the Menlo College in Atherton, California, in 1993, then he enrolled at College of California, San Diego. In school, he minored in inventive writing and graduated with a bachelor’s diploma in visible arts in 1997. After graduating from school, Woodman based the startups EmpowerAll.com and Funbug. EmpowerAll.com’s goal was to promote electronics for a markup of not more than $2, and Funbug was a advertising and marketing and gaming platform on which customers may win money prizes. Nick’s father gave him a $235,000 funding, and he launched GoPro with the assistance of his dad and mom’ enterprise capital connections.

Career

In 2002, Woodman set off all over the world, browsing. Whereas trying to {photograph} his browsing experiences, he got here up with the thought for an reasonably priced digicam that would seize high quality shut-up footage, whereas being connected to the photographer’s physique. This led to the founding of GoPro, and the GoPro digicam. Nicholas raised funds throughout his first 12 months of GoPro by promoting imported belts from Indonesia at an enormous markup (typically as excessive as 50 instances the belt’s unique value) whereas touring up and down the California coast in his Volkswagen Bus. The primary model of the GoPro digicam was waterproof, had Wi-Fi, might be distant managed, and had 64 GB of reminiscence. It additionally price lower than $300. Woodman knew he was on to one thing when a Japanese firm ordered 100 items. Gross sales grew astronomically, and the corporate offered 2.3 million cameras in 2012.

GoPro lastly went public on the NASDAQ on June 26, 2014, below the ticker image GPRO. On the primary day of buying and selling, the corporate surged 38% and hit a market cap of $3 billion. On the second day of buying and selling, the inventory surged one other 20%, giving the corporate a $3.25 billion greenback market cap. At that valuation, Nick’s 45% stake formally gave him a net worth $1.45 billion. On the peak of GoPro’s inventory efficiency, the corporate was price $11 billion, and Woodman was price $4.5 billion. Sadly, the experience did not final eternally. GoPro’s inventory ultimately took a giant slide. In January 2016, GoPro introduced it was shedding 7% of its workforce after dropping 80% of its share value. Nick’s net worth dipped beneath $1 billion. In January 2018, GoPro introduced it was doing one other massive spherical of layoffs. By this level, the corporate’s share value was down 90% from its peak, and Woodman’s net worth was $800 million. As GoPro inventory continued to slip, his net worth sunk to $300 million in July 2020. Nonetheless extraordinarily rich, however a far crawl from being price $4.5 billion.

Steve Jennings/Getty Photos

In late 2016, Rosen Regulation Agency introduced a category motion go well with in opposition to GoPro, alleging that the corporate had “issued false and misleading statements to investors.” The lawsuit states that GoPro’s Karma drones “were prone to losing power midflight, causing them to fall out of the sky” and that GoPro had “significantly overstated the utility of and likely customer demand” for the product. The Karma drone was discontinued in 2018, and that 12 months it was rumored that GoPro had employed JPMorgan Chase to assist promote the corporate. Nicholas denied the claims, stating, “If there were an opportunity for GoPro to partner up with a larger organization that could help us scale the company, that’s certainly something that we would consider. But it’s not something that we’re actively engaged in at the moment.” In 2020, GoPro needed to lay off workers as a result of COVID-19 pandemic, with greater than 200 workers (over 20% of the corporate’s workforce) dropping their jobs. In March 2020, GoPro acquired ReelSteady, a stabilization software program firm.

Private Life and Philanthropy

Nicholas met Jill Scully in a school artwork class, they usually married in 2012. The couple has three kids collectively and has owned property in California, Montana, and Hawaii in addition to a Gulfstream V jet and 180-foot yacht. In 2014, the Woodmans donated 5.8 million shares of GoPro inventory to their charitable group, the Jill + Nicholas Woodman Basis. Making the donation decreased Nick’s taxable earnings by a whopping $450 million and let him keep away from capital features taxes. The worth of the donated inventory fell to $36.1 million by 2018. In March 2014, the nonprofit group BUILD (Enterprise United in Investing, Lending and Improvement) honored Woodman for his philanthropic work at their annual gala. The Jill + Nicholas Woodman Basis donated $2.85 million to a San Francisco baby abuse prevention heart in 2015 and $4 million to a Montana neighborhood heart in 2019.

Actual Property

In 2014, Nicholas paid $13.7 million for a 150-acre California ranch generally known as “Boogie Ranch.” The property features a 5-bed room dwelling in addition to two visitor cottages, a bocce courtroom, a swimming pool, and a tractor barn. In July 2020, Woodman put the ranch in the marketplace for $20 million. He beforehand offered a close-by dwelling in Woodman for $18.4 million; he bought the 8,165 sq. foot dwelling for $12.5 million in 2011.


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Source: CelebrityNetWorth.com

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