Introduction: Who is Nick Woodman?
One of the notable figures in the technology industry, Nicholas “Nick” Woodman, is widely recognized as the pioneering mind behind GoPro, the leading manufacturer of action cameras. Born in 1975 in California, Woodman has carved a remarkable career path, spearheaded by his passion for innovation and adventure. Along with his professional pursuits, he cherishes his personal life with his wife, Jill Woodman, and their three children.
His successful venture into technology and entrepreneurship was significantly supported by his father, Dean Woodman, a successful investment banker and philanthropist, who lent his son $200,000 to kick-start the camera business.
- Nick Woodman, born in 1975 in California, is the founder of GoPro, the leading manufacturer of action cameras.
- Woodman’s father, Dean Woodman, a successful investment banker and philanthropist, played a significant role in funding the initial phase of GoPro with a loan of $200,000.
- GoPro originated as Woodman Labs in 2002 and was inspired by Woodman’s passion for surfing. Today, it holds approximately 40% of the action camera market share.
- GoPro experienced a financial boost in 2012 when Foxconn invested $200 million for a 9% stake, valuing the company at $2.25 billion.
- In 2016, GoPro expanded its product line with the Karma Drone. Despite discontinuing the drone in 2018, GoPro launched the highly successful Hero 7 Black action camera.
- As of 2014, Woodman was the highest-paid U.S. chief executive, and his estimated net worth is around $2 billion, according to Forbes.
- Woodman is an active philanthropist, having donated $500 million to the Silicon Valley Community Foundation through his foundation.
The Genesis and Evolution of GoPro
GoPro emerged from the idea of Woodman Labs, founded by Nick Woodman in 2002. It was born out of a surf trip, during which Woodman strived to capture high-quality action photos. Adopting the name GoPro in February 2004, the company steadily established its foothold as the dominant producer of action cameras, securing approximately 40% of the market share.
In 2012, Foxconn recognized the brand’s potential and invested $200 million for a 9% stake in the company, consequently valuing GoPro at $2.25 billion. The subsequent years saw an impressive financial trajectory for GoPro, which reported revenue of $1.6 billion and a net income of $36 million in 2015. As the largest stakeholder, Woodman holds approximately 40 million shares, making up 30% of the share capital, and he retains 76% of the voting power.
GoPro’s Venture into Drone Technology
Broadening its scope beyond action cameras, GoPro introduced the Karma Drone in 2016. The drone industry has been propelled by several commercial uses, including 3D mapping, delivery, data harvesting, and agricultural applications. According to Goldman Sachs, the global expenditure on drones is expected to exceed $100 billion in the coming years.
In 2017, GoPro announced a significant job cut of 270 employees to curb operational costs. However, 2018 witnessed the discontinuation of the Karma drone but the successful launch of the Hero 7 Black action camera. GoPro’s current product lineup includes Hero 7 in Black, White, and Silver editions, the GoPro Fusion, and various accessories, including Travel Kit, Sports Kit, and specific mounts.
Nick Woodman’s Net Worth and Philanthropy
In 2014, Woodman was titled the highest-paid U.S. chief executive, with a total pay package of $285 million. Forbes estimates his net worth at a staggering $2 billion.
Woodman’s generous spirit is evident in his active philanthropy. Through the Jill + Nicholas Woodman Foundation, he donated $500 million to the Silicon Valley Community Foundation. He also invested $125,000 in two start-up companies on the television show Shark Tank in 2015.
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Nick Woodman House
Nick and his wife Jill Woodman live in a large house in the town of Woodside, California. The house was purchased in 2011 for US$ 12.5 million.
The house has a large pool, a game room, a theater, and a fitness area.
Nestled amidst the scenic beauty of San Mateo County, Woodside, California, is a charming small town known for its remarkable natural landscape and rich history. Known as a home to many Silicon Valley professionals and celebrities, Woodside offers an enchanting blend of rural and suburban living. Its lush greenery, horse trails, and scenic views are a welcome retreat from the hustle of city life.
Woodside is home to notable landmarks such as Filoli, a country house set in 16 acres of formal gardens, and the Woodside Store, a historical site reflecting the town’s early pioneer history. Its dedication to preserving natural habitats is evident in the many parks and open spaces, including the expansive Huddart Park and the Wunderlich Park, perfect for hiking and equestrian activities.
The town also hosts several community events throughout the year, with the Woodside Day of the Horse and May Day Parade being prominent attractions. Known for its commitment to sustainability, Woodside has numerous initiatives to maintain its environmental health and minimize carbon footprints. With its high-ranking public schools and strong community feel, Woodside continues to attract families seeking tranquility close to Silicon Valley. Its residential architecture is a mix of traditional, modern, and rustic homes, mirroring the town’s unique charm and history. Despite its serene ambiance, Woodside’s location provides easy access to the lively cities of San Francisco and San Jose, making it an ideal place to live and visit.
Woodman Yacht Driftwood
Nicholas is the owner of the Amels yacht Driftwood.
The Driftwood Yacht is an Amels 180 model, delivered in 2017.
The yacht boasts a steel hull, aluminum superstructure, and is powered by 2 MTU marine engines.
The yacht can accommodate 12 guests in 6 cabins and is manned by a crew of 13.
Driftwood is designed by Tim Heywood and features a beach house theme interior by Remi Tessier.
Woodman owns a Gulfstream G550 private jet, with registration N74VW. The jet was built in 2004. A G550 has a list price of US$ 60 million. It can accommodate 14 passengers.
The serial number relates to Woodman’s 1974 Volkswagen bus called “Buscuit”. Woodman lived sometimes in that bus during the founding of GoPro. The Go Pro company pays US$ 700,000 per year for the use of Woodman’s private plane.
The Gulfstream G650 is a luxurious, long-range business jet produced by Gulfstream Aerospace. The G650 was first introduced in 2008 and quickly became one of the most sought-after business jets in the world due to its impressive range, speed, and spacious cabin. The G650 has a maximum range of over 7,000 nautical miles, making it capable of flying non-stop from locations such as New York to Hong Kong.
One of the standout features of the G650 is its cabin, which is both spacious and luxurious. With a height of over 6 feet and a width of over 7 feet, the cabin offers ample space for passengers to work, relax, and entertain. The cabin also features a variety of customizable features, including seating arrangements, lighting, and entertainment systems.
In addition to its impressive range and cabin, the G650 is also known for its high cruising speeds. The aircraft is capable of reaching speeds of up to Mach 0.925, making it one of the fastest business jets on the market. This speed, combined with its range, allows the G650 to cover large distances quickly and efficiently.
The last known list price of the Gulfstream G650 was approximately $75 million. This high cost reflects the advanced technology, spacious cabin, and impressive performance capabilities of the aircraft. Despite its high price, the G650 remains a popular choice for those who value speed, range, and comfort in their business jets.
The Gulfstream G650 is a top-of-the-line business jet that offers impressive range, speed, and comfort. Its luxurious cabin and high-performance capabilities make it a popular choice for those who demand the best in their business aviation needs. With a last known list price of $75 million, the G650 is a significant investment, but for those who can afford it, the aircraft provides a unique and unparalleled flying experience.