Youngest Billionaires 2015: Snapchat’s Evan Spiegel and Bobby Murphy
Evan Spiegel and Bobby Murphy each have a net worth of $1.5 billion. Last year, their company Snapchat was valued at $10 billion. All of this sounds like fairly commonplace for a member of The Business Rich. However, one thing makes them extra special among the world’s billionaires: They’re the youngest. Spiegel is 24 years old and Murphy is 26 years old.
While there may be an heir out there with more money and fewer years, these two made this fortune doing what savvy business minds do best. The tale is eerily familiar to other tech tales, but it is inspiring just the same.
Much like their tech predecessors, the Snapchat duo founded the app while in college. As an added bonus, they were attending Stanford University in Palo Alto—arguably the tech capital of the world. It wasn’t without its trial and error, however. Their first launch failed.
Snapchat is a temporary messaging app that sends photo messages between people with a timer. When the timer goes off, the message disappears. They called it Picaboo during its earliest introduction. For some reason, the concept didn’t take.
A true testament to the power of branding and marketing, the same idea took off under its current name in 2011. Today, more than 100 million people use Snapchat on a monthly basis.