Baby-faced Filipino-American Bobby Murphy made his fortune from the popular app Snapchat, along with his friend and co-founder Evan Spiegel, who at the age of 24, is the world’s youngest billionaire. As the Chief Technology Officer of the company, he definitely plays an integral part to Snap’s ongoing success than the better-known CEO Spiegel.
Snapchat, a prevalent temporary photo messaging application, hits the technology and social media platform and is currently valued at $10 billion with its 100 million users a month. The founders, Spiegel and Murphy, have created an app that took the world by a storm. Now, with the Snap’s growing feat in the public, its CTO is poised to have an enormous $4 billion net worth.
Since Snap’s CEO Spiegel has built a name in the industry, his partner is also a man worth of recognition. It is reported that Murphy earns about $250,000 a year, just half of what Spiegel does. In a statement from the company, it was noted that “we entered into an amended and restated offer letter agreement with Robert Murphy, our co-founder and Chief Technology Officer with respect to his continuing employment with us. Mr. Murphy’s annual base salary as of December 31, 2016 was $250,000.”
Meet the Real Filipino-American Bobby Murphy
The 28-year-old American entrepreneur and engineer, who originally met his pal Spiegel in 2010, was brought into the world of Snapchat after a Google-inspired online network project failed to catch on. During a TV appearance with Stephen Colbert in 2013, Murphy explained that Snapchat’s concept is “to change the notion of what photograph is and use it as a means of communication and just recognizing that photos and videos are extremely expressive.”
Apparently, it was Murphy who led the company’s expansion on the technical aspect. The app evolved and included new features such as content distribution, payment, and hardware. He also connected it to Google Cloud, where users can store the data.
Aside from being a tech-savvy, Murphy has a reputation for being an “even-keeled.” If Spiegel has been known for having a temper, his co-founder could not be seen in public being upset. In fact, Snapchat’s first employee David Kravitz said that he would describe Murphy as almost “like a monk.”
In late 2013, Murphy purchased a $2.1 million home in Venice, California. The house is just 11 blocks from the Snapchat’s headquarters. The abode reportedly has two bedrooms, two-and-a-half bathroom, patios, balconies, and roof deck. Not to mention, Murphy graduated from Stanford University where he became frat brothers with Spiegel in the Kappa Sigma fraternity.
Snapchat CTO Hailed as World’s Second Youngest Billionaire
Meanwhile, the low-profile engineer is currently the world’s second youngest billionaire next to his friend, Evan Spiegel. Bobby Murphy is also hailed as the 11th America’s Richest Entrepreneurs Under 40 of Forbes. Murphy’s estimated net worth is $4 billion, along with his partner who is expected to gain billions more with Snap Inc.’s forthcoming IPO with a reported market value of around $20 billion.
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