Michael Saylor Net Worth
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Michael Saylor Net Worth and Biography
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $1 billion | N/A | February 4, 1965 | Lincoln, Nebraska | Male | N/A | Entrepreneur, Businessman | American |
What is Michael Saylor’s Net Worth?
Michael Saylor, the American entrepreneur and businessman, has an estimated net worth of $1 billion. He gained prominence as the co-founder and former CEO of MicroStrategy, a tech services company he led for 33 years. However, in August 2022, he stepped down as the CEO following the company’s loss of $917 million in Bitcoin investments. At the time of his resignation, Saylor owned approximately 23% of MicroStrategy’s public shares, which were worth around $600 million pre-tax.
Highlights
– Michael Saylor’s net worth is estimated to be $1 billion.
– He co-founded MicroStrategy and served as its CEO for 33 years.
– Saylor stepped down as CEO due to the company’s loss of $917 million in Bitcoin investments.
– He owned an estimated 23% of MicroStrategy’s public shares at the time of his resignation.
– Saylor is the founder and sole trustee of the non-profit online education provider, Saylor Academy.
Early Life
Michael Saylor was born on February 4, 1965, in Lincoln, Nebraska. His father was a US Air Force chief master sergeant, which led to Saylor spending his early childhood on various Air Force bases worldwide. When he was 11, his family settled in Fairborn, Ohio, near Wright-Patterson Air Force Base. Saylor attended the Massachusetts Institute of Technology (MIT) on an Air Force ROTC scholarship, where he met his future business colleague, Sanju K. Bansal. He graduated from MIT in 1987.
Career
Although Saylor initially aspired to become a pilot, a medical condition prevented him from pursuing that path. Instead, he joined the consulting firm the Federal Group, working on computer simulation modeling. Afterward, he worked as an internal consultant at DuPont.
MicroStrategy Founding and Success
Saylor, along with Sanju Bansal and Thomas Spahr, co-founded MicroStrategy in 1989. Initially focused on developing software for data mining, the company later shifted its focus to business intelligence activities. In 1992, MicroStrategy secured its first major client, McDonald’s, through a $10 million contract. Saylor took the company public in 1998, making him the wealthiest person in the Washington, DC area by early 2000. During that year, MicroStrategy also founded Alarm.com.
MicroStrategy Losses and Controversies
In March 2000, MicroStrategy faced significant financial setbacks when its stock price plummeted during the dot-com bubble burst. Saylor personally suffered a loss of around $6 billion. The company later became entangled in an accounting fraud scandal, resulting in charges brought against Saylor and other executives by the US Securities and Exchange Commission (SEC). MicroStrategy inaccurately reported its financial results for the previous two years. Saylor settled with the SEC, paying $350,000 plus a personal disgorgement of $8.3 million, without admitting any wrongdoing.
Saylor sparked controversy in March 2020 when he sent a memo to MicroStrategy employees criticizing COVID-19 safety protocols and refusing to close the company’s offices unless mandated by law. Later that year, he announced the company’s shift towards investing in Bitcoin and alternative assets instead of holding cash. MicroStrategy accumulated significant Bitcoin holdings, with Saylor disclosing his personal ownership of 17,732 Bitcoin in October 2020. However, the company’s loss of $917 million in Bitcoin investments led to Saylor’s resignation as CEO in August 2022.
Personal Life
Aside from his business ventures, Michael Saylor founded the non-profit online education provider, Saylor Academy, in 1999. As the sole trustee, the organization offers free college-level online courses and collaborates with other groups to provide degrees to students.
Net Worth Over Time
Saylor’s net worth fluctuated over time due to his involvement with MicroStrategy. At its peak, his stake in the company was worth several billion dollars. However, his net worth significantly decreased after the dot-com bubble burst and the subsequent accounting fraud scandal. His resignation in 2022 was prompted by MicroStrategy’s loss in Bitcoin investments.
Components of Net Worth
Michael Saylor’s net worth primarily consists of his ownership stake in MicroStrategy. His net worth is subject to fluctuations in the company’s performance and investments, such as its Bitcoin holdings. It is essential to note that net worth calculations are estimations based on publicly available data.
