One of the largest online data-sharing and storage companies in the world, Dropbox currently earns billions. In 2007, Drew Houston and Arash Ferdowsi founded Dropbox. The unique idea behind their start-up soon started getting viral, which helped the company to increase its consumer base drastically.
Drew Houston, who has always been a meticulous student since childhood, had come up with the unique idea to provide online data storage services for consumers who struggle with carrying their important work everywhere on the hard drive.
The idea soon went viral, and currently, there are millions around the world who use Dropbox to manage their significant data online.
Dropbox’s increasing consumer base becomes a reason for the increasing revenues of the company, apparently resulting in the increased net worth of the founder, Andrew Houston.
So, What is the net worth of Dropbox founder Drew Houston? Read till the end to know everything about his career and income sources.
Drew Houston – Early Life & Career
Drew Houston, co-founder, and CEO of Dropbox, was born in the year 1983. Drew is originally from Acton, where he also attended High School. His passion for software and computers eventually led him to graduate from the Massachusetts Institute of Technology with a degree in computer science.
Drew Houston’s idea of creating Dropbox first came into his mind when he always used to forget his USB drive in college. He then realized the problems surrounding online data storage services and wanted to create a platform for consumers where they could store even larger files. With this idea, he, with his classmate from MIT, came up with Dropbox.
Drew Houston led a number of firms before helping to build Dropbox, including Hubspot and Bit9. Since he is also a great leader and a good speaker, he is the key person who made Dropbox a huge success.
Drew Houston is the CEO of Dropbox
Drew Houston and Arash Ferdowsi founded Dropbox in the year 2007. Since 2007, Drew has been serving as the CEO of Dropbox. Drew is responsible for the product strategies of Dropbox and meticulously handles all consumer problems while always looking for new opportunities in the market.
In the year 2018, Dropbox became a public company, and Drew became the owner of more than 20% shares of the company. Currently, Drew Houston holds 25% voting rights which makes him the biggest shareholder of Dropbox.
Currently, the stock price of the Dropbox share is $22.48, and the net worth of the company is $ 8.29 Billion as of December 2022.
Drew Houston Is Serving As A Board Of Director At Facebook
Drew’s appointment to the board of directors was announced by Meta on February 3, 2020. Facebook CEO Mark Zuckerberg stated his thoughts about Drew Houston entering the board, who plays a significant role in decision-making.
He said that Drew brings a valuable perspective to Facebook’s board as a leader of a prominent technology company. Dropbox’s services are used by millions of people and businesses. He continued appreciating Drew, saying that he knows where technology is going, and he knows how to deliver services and build culture.
Drew Houston joined Facebook’s board as soon as Netflix CEO Reed Hastings stepped down from his position.
Drew Houston’s Net Worth – 2022
Since the start of his career, Drew Houston has always played a valuable part in the growth of several start-ups. From generating a simple idea to making it come to reality, Drew’s outstanding mind and constant hard work have led him to walk on the path of success.
Drew Houston said in an interview that he always looks for solutions to problems, and in this way, he was able to find Dropbox. When he solved the problem that he was suffering from, i.e., carrying a physical drive everywhere, he got to know that he had found the solution to the problem that millions are people are suffering out there who eventually became his customers.
Drew Houston’s earnings started to increase with the growth of his customer base. Additionally, he also earns well now from Facebook. Most of his earnings come from the shares that he owns and from his salary as the CEO of Dropbox.
In the year 2022, Drew Houston’s Net Worth is $1.7 Billion, according to Forbes.
Drew Houston is one of the wealthiest CEOs in the world, and his net worth will increase in the coming years.