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 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.
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$125,000 in 2 start-
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Nick Woodman House
Nick and his wife Jill Woodman live in a large house in the town of Woodside, California. The house was purchased in 2011 for US$ 12.5 million.
The house has a large pool, a game room, a theater and a fitness area.
Woodman Yacht Driftwood
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.