NICK WOODMAN • Net Worth $2 Billion • House • Yacht • Private Jet • GoPro

Name:Nick Woodman
Net Worth:$ 2 billion
Source of Wealth:GoPro
Born:June 24, 1975
Wife:Jill Woodman
Residence:Woodside, California
Private Jet:Gulfstream G550 (N74VW)

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.

Key Takeaways

  • 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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Yacht Driftwood Owner

Nick Woodman

Watch this video!

Nick Woodman House

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.