Marc Benioff, an American-born internet entrepreneur is co-founder, Chairman & currently the sole CEO of Salesforce, a cloud-based software company.
Since the foundation of Salesforce Inc. in 1999, the company over the course of 2 decades, turned into a multi-billion dollar firm.
The former Senior Vice President of Oracle Corporation, Benioff along with his wife Lynne owns Time, an American weekly magazine.
How Much Is Marc Benioff’s Net Worth In 2020?
According to Forbes, 55-year-old Marc Benioff has a net worth of $6.6 billion as of April 10, 2020. All thanks to his 4% stake in the software firm Salesforce, which now has a market cap of $138.322 billion.
Reportedly in February 2020, Benioff had a fortune of $7.85 billion- the fluctuation in his worth is the stock value undulation since the company went public in 2004.
Currently, he ranks #274 in Billionaires 2020 list & #93 in
Forbes 400 2019.
The Business Insider reported that the Salesforce secured an annual revenue of $10 billion in 2018 & $3.28 billion in the fiscal year of 2019.
Meanwhile, the revenue of the company stands at $17.1 billion with a net income of $126 million.
Aside from his software venture, the Salesforce CEO collects a considerable sum of money through the acquisition of weekly magazine Time- he & his wife Lynne bought it on September 16, 2018, for $190 million.
What Is Benioff’s Salary As CEO of Salesforce?
In the fiscal year 2019, Marc Benioff made $28,391,846 in total compensation as the CEO of Salesforce, which included the base salary of $1.55 million.
Reportedly, the now-former co-CEO Keith Block pulled $16,961,156 including the annual salary of $1.342 million.
Net Worth Over The Years:
|Year||Net Worth (in USD)|
|2015 (September)||$3.8 billion|
|2020 (late March)||$5.8 billion|
Did you know? Over these years, Benioff has sold stocks worth of $1.5 billion in total
Founded Salesforce In 1999: What He Did Before That?
The San Francisco, California-born entrepreneur started his venture in the software sector as an intern in the Macintosh division of Apple Computer; for 4 months until August 1984 under Steve Jobs.
Thereafter in 1986, he joined Oracle Corporation, co-founded by Larry Ellison; there Marc served for 13 years as Senior Vice President until June 1999.
Already a million through lucrative salary in Oracle, Benioff, then, took the venture of his own & co-founded cloud-based software company Salesforce Inc. in 1999.
His Salesforce co-founding partners were Dave Moellenhoff, Parker Harris & Frank Dominguez.
Was Earning A Considerable Sum While In High School
Initially, Marc worked in a jewelry store to collect money for a computer & while in high school, he developed & sold his application How To Juggle for $75.
Thereafter, by the age of 15, Benioff founded Liberty Software, working as the game creator for Atari 8-bit.
Reportedly, with the release of King Arthur’s Heir, The Nightmare, Escape from Vulcan’s Isle, and Crypt of the Undead, he was earning $1,500 in royalties, at the age of 16.
Salesforce Inc. Success Journey: First IPO Offering To Acquisitions
After 5 years of Salesforce launch, the software firm went with IPO (initial public offering) in June 2004, under the symbol CRM & reportedly raised $110 million, through high-profile investors including Larry Ellison and Halsey Minor.
Thereafter, the company ventured in acquisitions & investments; reportedly, in August 2018, it had investments worth $1.2 billion in 275 companies.
Over the years, the Salesforce records over 59 acquisitions, here is the list of few:
|Company||Date (acquired)||Value (Acquired for)|
|ClickSoftware||August 2019||$1.35 billion|
|Tableau||August 2019||$15.3 billion|
|MuleSoft||May 2, 2018||$6.5 billion|
|Quip||August 2016||$750 million|
|SteelBrick (re-branded as Salesforce CPQ)||December 2015||$360 million|
|RelateIQ (now SalesforceIQ)||July 10, 2014||$390 million|
|ExactTarget (now Marketing Cloud)||June 2013||$2.5 billion|
|clipboard.com||May 2013||$12 million|
|GoInstant||July 2012||$70 million|
|Buddy Media||May 2012||$689 million|
|Radian6||March 2011||$340 million|
|Heroku||December 2010||$212 million|
|Instranet||August 2008||$31.5 million|
Reportedly, back in 2005, the company was trading at $5.19 per share that reached a $100 milestone in 2018, with a value of $131.91 per share- that year, the Salesforce made $10.48 billion in revenue.
Moreover in 2018, as per Business Insider, the firm swelled with a market cap of $160 billion.
According to a report by Yahoo Finance, as of April 10, 2020,Salesforce.com, Inc. is trading at $154.55 per share & has a market capitalization value of $138.322 billion.
Benioff Is Sole CEO Of Salesforce
In February 2020, Keith Block stepped down from co-CEO after 1 & a half years of service, leaving Marc Benioff as the sole CEO of the Salesforce.
Since the foundation of cloud-based software in 1999, Benioff is serving as its chairman.
Owns An Estate In Hawaii & His Lifestyle
Without a doubt, the American billionaire enjoys a lavish life with such a hefty fortune. Reportedly, Marc lives in San Francisco, California, where he owns several other estates.
Furthermore, the reports state that the Salesforce co-founder owns a $28 million mansion in San Francisco’s Billionaire Row.
His another 15,858-square-foot house in San Francisco was bought in 2005 for $27 million.
An admirer of Hawaii, Marc Benioff bought a 5-acre estate on the island of Hawaii in 2000 for $12.5 million. Later, he built a 6-bedrooms and 7 full & 2-half bathroom residence in the area.
Benioff often throws expensive parties & even more, hosts private parties & concerts for charity causes too.
As reported, before his company Salesforce went public, the billionaire-businessman threw a $250,000 party featuring the B-52s at the rented San Francisco Giants’ stadium.
Charity Works & Donations
In 2015, the Forbes recognized Marc & his wife Lynne as America’s 50 Top Giver & has reportedly donated over $459 million so far. Since 2000, Benioff serves as the chairman of his company charity arm Salesforce.com Foundation.
In June 2016, Marc Benioff & his wife signed The Giving Pledge by created by Warren Buffett & Bill Gates.
In 2010, they donated $100 million to UCSF Children’s Hospital, totalling $250 million by 2014, for UCSF and Oakland Children’s Hospital.
For advanced STEM education, the duo gave $14 million to San Francisco Unified School District, in the course of 3 years by 2016.
Currently, he sits at San Francisco University’s Board of Trustees.
In March 2018, he announced to donate $1 million to March for Our Lives. Marc made a donation of $900,000 to Team Trees in November 2019.
Marc is the creator of the philanthropic idea called 1-1-1 model, the startup vows for 1% of their equity, 1% of their products, and 1% of their employees’ time to charity.
Short-Bio: Family Background & Relationship
Marc Russell Benioff was born on September 25, 1964, in a Jewish family in San Francisco, California, the USA, to Joelle Benioff & Russell Benioff.
His father Russell (died in 2012 at the age of 83) owned a local department store in San Francisco.
The 1982 graduate of Burlingame High School, Marc, enrolled at the University of Southern California & obtained a Bachelor of Science in Business Administration in 1986.
Marc Benioff is a happily married man & lives with his wife Lynne Benioff. Together, they share 2 children, though, are low-key about further detail of the family.
Did you know? Marc is a distant cousin of ‘Game of Thrones’ creator David Benioff.