NICK WOODMAN – Net Worth $ 2 Billion – Owner of the Yacht Driftwood

Name:Nick Woodman
Net Worth:$ 2 billion
Source of Wealth:GoPro
Born:June 24, 1975
Country:USA
Spouse:Jill Woodman
Children:3
Residence:Woodside, California
Private Jet:Gulfstream G550 (N74VW)
Yacht:Driftwood

Who is Nick Woodman?

He is the founder of Go Pro, a manufacturer of action cameras. He was born in 1975 in California. He is married to Jill Woodman, they have 3 children.

His father Dean Woodman is a successful investment banker and philanthropist. He lent his son US$ 200.000 to fund the start-up of the camera business.  His father now still owns 6% of the GoPro stock.

Gopro

GoPro was founded by her CEO Nick Woodman as Woodman Labs in 2002. Following a surf trip when he tried to capture quality action photos.  

The company began doing business as GoPro in February 2004. Nowadays GoPro is the largest producer of action cameras with a market share of approx 40%.

In 2012 Foxconn purchased 9% of the company for US$200 million which valued the company at $2.25 billion.

In 2015 GoPro realized US$ 1.6 billion in revenue and a net income of USD 36 million. Nicholas Woodman owns approx. 40 million shares or 30% of the share capital. He has 76% of the voting power.

In 2016 GroPro introduced the Karma Drone. The drone business is driven by commercial uses, including 3D mapping, delivery, and data harvesting. Agriculture will become a big user of drones. Goldman Sachs predicts that the total spending on drones worldwide will be over $100 billion in the coming years.

In 2017 the company announced job cuts of 270 employees, in an effort to reduce operating costs by about $200 million.

In 2018 Go Pro stopped producing the Karma drone. They introduced the Hero 7 Black action camera, which became very successful. The company’s current product lineup is the Hero 7 in Black, White, and Silver and the GoPro Fusion. It also sells accessories such as a Travel Kit, Sports Kit and helmet or surfboard strap mounts.

Nick Woodman Net Worth

In 2014 the GoPro founder was named the highest-paid U.S. chief executive with a total pay package of US$ 285 million. Forbes estimates the Gopro net worth at US$ 2 billion.

He has an annual base salary of US$ 800,000 and a target bonus of US$ 1,200,000.

Philanthropy

Woodman is an active philanthropist through his Jill + Nicholas Woodman Foundation.  He donated US$ 500 million to the Silicon Valley Community Foundation.

In 2015 he  appeared on TV as an investor of the show Shark Tank. He invested US$125,000 in 2 start-up companies.

Yacht Driftwood Owner

Nick Woodman


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Nick Woodman House

Nick Woodman Yacht

He is the owner of the yacht Driftwood.