Nicholas Woodman Net Worth | Celebrity Net Worth

Nicholas Woodman Internet Value | Movie star Internet Value

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What Is Nicholas Woodman’s Internet Value?

Nicholas Woodman is an American entrepreneur who has a internet value of $300 million. He earned fortune and fame because the founding father of GoPro, a expertise firm that manufactures motion cameras. Woodman was named Entrepreneur of the Yr (Retail and Client 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 mother and father, 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-founded the Robertson Stephens funding financial institution. Nicholas graduated from the Menlo Faculty in Atherton, California, in 1993, then he enrolled at College of California, San Diego. In faculty, he minored in artistic writing and graduated with a bachelor’s diploma in visible arts in 1997. After graduating from faculty, Woodman based the startups EmpowerAll.com and Funbug. EmpowerAll.com’s function 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 might win money prizes. Nick’s father gave him a $235,000 funding, and he launched GoPro with the assistance of his mother and father’ enterprise capital connections.

Profession

In 2002, Woodman set off around the globe, browsing. Whereas trying to {photograph} his browsing experiences, he got here up with the concept for an inexpensive digicam that would seize high quality close-up footage, whereas being hooked up 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 authentic worth) whereas touring up and down the California coast in his Volkswagen Bus. The primary model of the GoPro digicam was waterproof, had Wi-Fi, may very well be distant managed, and had 64 GB of reminiscence. It additionally value 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, beneath 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 internet value $1.45 billion. On the peak of GoPro’s inventory efficiency, the corporate was value $11 billion, and Woodman was value $4.5 billion. Sadly, the journey did not final perpetually. GoPro’s inventory finally took an enormous slide. In January 2016, GoPro introduced it was shedding 7% of its workforce after dropping 80% of its share worth. Nick’s internet value dipped beneath $1 billion. In January 2018, GoPro introduced it was doing one other large spherical of layoffs. By this level, the corporate’s share worth was down 90% from its peak, and Woodman’s internet value was $800 million. As GoPro inventory continued to slip, his internet value sunk to $300 million in July 2020. Nonetheless extraordinarily rich, however a far crawl from being value $4.5 billion.

Steve Jennings/Getty Pictures

In late 2016, Rosen Legislation Agency introduced a category motion go well with in opposition to GoPro, alleging that the corporate had “issued false and deceptive statements to buyers.” The lawsuit states that GoPro’s Karma drones “have been susceptible to dropping energy midflight, inflicting them to fall out of the sky” and that GoPro had “considerably overstated the utility of and sure buyer 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 have been a possibility for GoPro to companion up with a bigger group that would assist us scale the corporate, that is definitely one thing that we’d think about. However it’s not one thing that we’re actively engaged in for the time being.” In 2020, GoPro needed to lay off staff as a result of COVID-19 pandemic, with greater than 200 staff (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 university artwork class, and so they 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 positive aspects 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 five-bedroom residence in addition to two visitor cottages, a bocce court docket, a swimming pool, and a tractor barn. In July 2020, Woodman put the ranch available on the market for $20 million. He beforehand offered a close-by residence in Woodman for $18.4 million; he bought the 8,165 sq. foot residence for $12.5 million in 2011.

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