Tim Westergren Net Worth
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3 min read
Tim Westergren Net Worth
| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $25 million | N/A | December 21, 1965 | Minneapolis, Minnesota | Male | N/A | Composer, Record Producer | American |
What is Tim Westergren’s Net Worth?
Tim Westergren, an American composer and record producer, has an estimated net worth of $25 million. As one of the founders of Pandora Radio, his involvement with the company has significantly contributed to his wealth.
Highlights
– Tim Westergren’s net worth is estimated to be $25 million.
– Co-founded Pandora Radio in 2000.
– Served as the Chief Strategy Officer for Pandora Media, Inc.
– Achieved a peak market cap for Pandora of $7 billion in mid-2014.
– Pandora was acquired by Sirius XM Holdings in February 2019 for $3.5 billion.
Early Life
Tim Westergren was born on December 21, 1965, in Minneapolis, Minnesota. He studied computer acoustics and recording technology at Stanford University, where he earned a bachelor’s degree.
Career
In 2000, Tim Westergren co-founded Pandora Media, along with Will Glaser and Jon Kraft, in Oakland, California. Pandora Radio quickly gained popularity and revolutionized the way people discover and listen to music online. As the Chief Strategy Officer of Pandora Media, Inc., Westergren played a key role in the company’s success.
Additionally, Tim Westergren is an accomplished composer and record producer with over 10 years of experience in the music industry. He has worked with indie labels, scored music for feature films, and performed extensively.
One of Tim Westergren’s notable contributions is the creation of the Music Genome Project, a mathematical algorithm used by Pandora Media to organize music and predict a person’s musical taste based on a small musical sampling.
In 2010, Time magazine recognized Westergren as one of the 100 most influential people in the world, highlighting his significant impact on the music industry.
Personal Life
Tim Westergren is married to Smita and together they purchased a 17-acre property in Point Reyes Station, California. The property includes a 2,000 square foot home that dates back to 1920. In 2014, they faced criticism from neighbors when they submitted plans to build an 8,300 square foot compound on the plot, leading to concerns about the size and purpose of the construction.
Net Worth Over Time
Tim Westergren’s net worth has fluctuated over time due to fluctuations in the value of Pandora Media. At the peak of Pandora’s success in mid-2014, the company had a market cap of approximately $7 billion. However, it later experienced a decline, with the market cap falling to $1.5 billion by December 2017.
In February 2019, Sirius XM Holdings acquired Pandora Media for $3.5 billion, which resulted in a conversion of Westergren’s Pandora shares into approximately $50 million worth of Sirius shares. Despite this initial increase in net worth, the value of Sirius shares dropped by roughly 30% over the next three years, impacting Westergren’s overall net worth.
Components of Net Worth
Tim Westergren’s net worth primarily consists of his ownership stake in Pandora Media and subsequent conversion into Sirius shares. The exact details of his salary are not publicly available. Additionally, Westergren’s other assets, such as his property in Point Reyes Station, California, may contribute to his net worth.
In conclusion, with an estimated net worth of $25 million, Tim Westergren has achieved financial success as a composer, record producer, and co-founder of Pandora Radio. Despite fluctuations in Pandora’s market value, Westergren’s contributions to the music industry have solidified his position as a notable figure in the field.
