Stephan Paternot Net Worth
In the world of entrepreneurship, Stephan Paternot has made a name for himself as a Swiss-American innovator. He is best known as the co-founder of the internet’s first social network, theGlobe.com. While his entrepreneurial journey had its ups and downs, Paternot has managed to achieve a net worth of $10 million.
Net Worth
Stephan Paternot’s current net worth is estimated to be $10 million. This impressive wealth is the result of his entrepreneurial success and strategic investments in emerging tech companies.
Highlights
- Co-founder of theGlobe.com, the internet’s first social network
- Went public in 1998 with the largest first-day gain of any IPO in history
- Net worth reached over $100 million during the dot-com boom
- Co-founder and CEO of crowdsourcing marketplace Slated
- Founder of Actarus Funds, providing venture capital to tech companies
Early Life
Stephan Paternot was born on March 21, 1974, in San Francisco, California. He spent his formative years surrounded by wealth, as his great-grandfather founded Nestle and his father is a successful private equity investor. Paternot pursued higher education at Cornell University in Ithaca, New York.
Career
Paternot’s journey as an entrepreneur began during his time at Cornell University. Alongside his fellow student Todd Krizelman, he recognized the business potential of a primitive chatline on the university’s computer network. Motivated to tap into this opportunity, Paternot and Krizelman raised $15,000 and acquired an Apple Internet Server, forming the programming company WebGenesis.
This venture eventually led to the creation of theGlobe.com, the internet’s first social network. Launched on April 1, 1995, the website quickly gained popularity, attracting over 44,000 visits within a month. Recognizing the potential, Paternot and Krizelman secured $20 million in financing through Dancing Bear Investments in 1997.
In November 1998, theGlobe.com went public, making headlines by posting the largest first-day gain of any IPO at the time. Paternot’s net worth soared to over $100 million, and the company reached a market capitalization of $840 million. However, the dot-com bubble burst in the following year, causing the company’s stock price to plummet.
After the decline of theGlobe.com, Paternot co-founded Slated, an online crowdsourcing marketplace that primarily focuses on film financing, sales, and development. He currently serves as the CEO of the company.
Personal Life
During the height of his fame in the late 1990s, Stephan Paternot was in a relationship with model Jennifer Medley.
Net Worth Over Time
Stephan Paternot’s net worth has fluctuated throughout his entrepreneurial journey. During the dot-com boom, he reached a peak net worth of over $100 million. However, the subsequent dot-com bubble burst caused a significant decline in his wealth. Despite this setback, Paternot has managed to rebuild his financial standing and currently has a net worth of $10 million.
Components of Net Worth
Stephan Paternot’s net worth is comprised of various components, including:
- Proceeds from the sale of his stakes in theGlobe.com
- Investments in emerging tech companies through Actarus Funds
- Income generated as the CEO of Slated
These financial assets and ventures have contributed to Paternot’s overall net worth and continue to shape his wealth as he explores new opportunities in the business world.
In conclusion, Stephan Paternot has experienced the highs and lows of the entrepreneurial landscape. From co-founding theGlobe.com and achieving immense success during the dot-com boom to navigating the challenges of the subsequent crash, Paternot has emerged with a net worth of $10 million. His contributions to the tech industry and his ongoing ventures in emerging tech companies showcase his entrepreneurial spirit and determination to succeed.