1) He comes from a wealthy family
Evan Spiegel comes from money, and his parents were Ivy League-educated lawyers who were massively successful. He enjoyed a cushy childhood, with large monthly allowances, expensive cars and vacations to exotic locations. He was raised in the glamorous Pacific Palisades area in Los Angeles and was already worth over $2 million before he formed a billion dollar company.
He had financial backing from the beginning, and he doesn’t try to hide that fact. This wasn’t a rags-to-riches story, and he openly disclosed that he got extremely lucky with Snapchat.
2) He has a reputation as a ‘party boy’
Evan has a reputation as a ‘party boy’, and he definitely isn’t shy when it comes to spending millions. He loved throwing lavish parties in high-school, which continued to when he went into college. He loves living the billionaire lifestyle and is frequently buying luxurious cars and going on private vacations.
He has always been a partier and it was in fact at a frat party that he came up with the idea of Snapchat with his fraternity brothers.
3) He created Snapchat with his friends in college
Evan dropped out of college, in order to concentrate on running Snapchat. He was studying product design at Stanford and only needed a couple of credits to graduate, but he thought dropping out was necessary to take his already blossoming company forward.
He and his fellow fraternity brothers of Kappa Sigma, Bobby Murphy and Reginald Brown IV, came up with the idea of Snapchat in 2011, when they were talking about sexting. Their partnership eventually turned sour, and Reggie was ousted from the company, who later sued his partners and settled for an undisclosed amount.
4) His first app was a disaster
Evan may have struck gold with Snapchat, but his first app (Picaboo) was a disaster, which flopped spectacularly. He launched a photo-sharing app, named Picaboo, which would delete images after 10 seconds of being viewed by the recipient.
The app failed to generate interest and was eventually scrapped. It was then rebranded as Snapchat and became the huge moneymaker it is right now.
5) He is the world’s 931st richest man
Evan Spiegel is only 26 years old right now, and has already made the real-time rich list of Forbes! His net worth of $2.1 billion makes him the 931st richest man in the world. As a result, he now is him the 418th wealthiest man in the USA, and the 99th in the tech sector.
Additionally, he also holds 13% stakes in Snapchat, which has a current market valuation of $16 billion.