Marc Benioff’s net worth is around $10 billion. His net worth primarily comes from his stake in Salesforce. Indeed, he owns nearly 3% of the company’s stock, valued at nearly $10 billion at current market value, making Marc Benioff a billionaire.
Category
Details
Full Name
Marc Russell Benioff
Date of Birth
September 25, 1964
Place of Birth
San Francisco, California, USA
Nationality
American
Education
Bachelor of Science in Business Administration from the University of Southern California (USC)
Early Career
Worked at Apple as an intern, Senior Vice President at Oracle Corporation
Major Companies Founded
Salesforce
Positions
Co-founder, Chairman, and CEO of Salesforce
Net Worth
Estimated around $10 billion (as of 2024)
Business Milestones
– 1999: Co-founded Salesforce with the idea of delivering enterprise software via the internet (cloud computing). – 2004: Took Salesforce public with an initial public offering (IPO) on the New York Stock Exchange, raising $110 million. – 2009: Introduced Salesforce Service Cloud, expanding the company’s product offerings to customer service and support. – 2013: Launched Salesforce1, a mobile app development platform, enhancing Salesforce’s mobile capabilities. – 2016: Acquired Demandware for $2.8 billion, entering the e-commerce market. – 2018: Acquired MuleSoft for $6.5 billion, integrating data across various systems and devices. – 2018: Named Co-CEO of Salesforce alongside Keith Block, further solidifying his leadership role. – 2020: Acquired Slack for $27.7 billion, the largest acquisition in Salesforce’s history, enhancing its collaboration and communication tools. – 2021: Salesforce was added to the Dow Jones Industrial Average, recognizing its significance in the tech industry. – 2022: Continued to innovate and expand Salesforce’s offerings, maintaining its position as a leader in cloud computing and enterprise software.
Entrepreneurial Journey: Marc Benioff is a prominent figure in the tech industry known for co-founding Salesforce, a leading customer relationshipmanagement (CRM) software company.
Salesforce and CRM Innovation: Benioff’s vision for Salesforce was to create a cloud-based CRM platform that revolutionized how businesses manage their customer relationships. This approach shifted the software industry towards cloud computing and subscription-based models.
Founder and CEO: Benioff co-founded Salesforce in 1999 and has served as the company’s CEO since its inception. Under his leadership, Salesforce grew rapidly and became one of the most successful and recognizable tech companies globally.
Net Worth: Marc Benioff’s net worth is estimated at around $5 billion. His wealth primarily stems from his significant ownership stake in Salesforce.
Ownership Stake: Benioff owns approximately 3% of Salesforce’s stock. This ownership translates to a substantial financial interest in the company’s performance and growth.
Billionaire Status: With his 3% stake in Salesforce, valued at $5 billion based on current market value, Marc Benioff qualifies as a billionaire.
Philanthropy and Social Responsibility: Benioff and his wife, Lynne Benioff, are known for their philanthropic efforts. They have donated substantial sums to various causes, including public education, healthcare, and social justice initiatives.
Impactful Leadership: Benioff is recognized for his leadership style, which emphasizes a strong company culture, ethical business practices, and a commitment to making a positive impact on society.
Corporate Activism: Benioff is known for championing various social and environmental causes through Salesforce. He has been an advocate for equality, sustainability, and giving back to communities.
Thought Leadership: Benioff’s perspectives on business, technology, and leadership are often sought after. He frequently speaks at conferences and events, sharing insights on innovation and the future of technology.
Company Growth and Innovation: Under Benioff’s guidance, Salesforce expanded its offerings beyond CRM to include a wide range of cloud-based services, contributing to the company’s consistent growth and market dominance.
Innovative Initiatives: Benioff’s leadership has led to innovative initiatives within Salesforce, such as the 1-1-1 model, where the company donates 1% of its equity, product, and employee time to charitable causes.
Cultural Impact: Benioff’s emphasis on values, equality, and purpose-driven business has influenced not only Salesforce but also the broader tech industry’s approach to corporate responsibility.
Marc Benioff, Co-CEO of Salesforce, is the primary individual shareholder, with nearly 3% of the company’s stock. Other main individual shareholders comprise Parker Harris, Co-Founder, and Chief Technology Officer, and Bret Taylor, former co-CEO. Major institutional shareholders include The Vanguard Group, Fidelity, and BlackRock.
Salesforce follows a SaaS businessmodel, offering four main categories of cloud CRM (Customer Relationship Management) services spanning the sales cloud to the marketing cloud. Where subscriptions drive the primary revenuemodel. However, the company leverages professional assistance to push the adoption of the software and retention of paying subscribers. Indeed, by 2024, Salesforce generated over $32 billion from subscriptions and $2.32 billion from professional services.
In 2024, Salesforce generated $32.54 billion from subscriptions and $2.32 billion in professional services, compared to $29 billion in subscriptions in 2023 and $2.33 billion in professional services.
By 2024, Salesforce spent 37% of its total revenues on marketing and sales expenses, compared to 43% of its total revenue in 2023, 45% in 2022, and 45% in 2021.
Professional services are run at negative gross margins. In short, by 2024, on $2.33 billion in revenue from professional services, Salesforce reported a $44 million gross loss. In short, Salesforce runs professional services at a loss to boost its subscription revenue over time since professional services are used to enhance the use and retention of the software. The subscription revenue cost structure is quite effective. By 2024, on over $32 billion in subscription revenue, the company reported $6.18 billion in cost of revenue (expenses related to delivering the service and providing support, including the costs of data center capacity), thus generating a $26.36 billion in gross profits, in 2024.
Salesforce is a cloud-based customer relationshipmanagement (CRM) provider, allowing businesses to build meaningful and sustained relationships with their customers. With robust, customizable software that integrates with social media, Gmail, and Microsoft Outlook, the Salesforce CRM platform is rated highly among businesses of all shapes and sizes. Recent data has shown that the company has captured 19.5% of the global CRM market.
Salesforce’s mission is to build bridges between companies and customers. Salesforce does that via a SaaS platform, which is enhanced via professional services offered on top of it.
Salesforce was founded in 1999 by Marc Benioff, Frank Dominguez, Dave Moellenhoff, and Parker Harris. In a relatively short time, the corporate powerhouse of enterprise software has made numerous acquisitions as part of its broader growthstrategy to become a SaaS giant!
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Bernard Arnault’s wealth is around $203 billion. Indeed Arnault is the CEO and chairman of the luxury goods conglomerate LVMH Moët Hennessy Louis Vuitton, a massive luxury group that generated over €79 billion in revenue ($83 billion) in 2022, spanning across wines, fashion, cosmetics, and retail. The Arnault family group owns 48.18% of the capital for LVMH with 63.9% voting power, making Bernard Arnault the principal owner and decision-maker. His stake is worth over $203 billion.
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Jeff Bezos’ net worth is primarily based on his ownership stake in Amazon. Indeed, as of 2023, Bezos owned a 12.7% stake in Amazon, worth over $120 billion.
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As of 2022, Satya Nadella had 763,518, valued at $190 million at Microsoft’s current market value. Nadella also got a $2.5 million base salary in 2022, plus $42.27 million in stock awards and over $10 million in non-stock incentives. Nadella sold hundreds of millions of dollars of Microsoft stocks in the last ten years, making him a centi-millionaire. In 2022, 96% of Nadella’s salary was performance-based, whereas only 4% comprised a base salary.
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Marc Benioff’s net worth is $5 billion. His net worth primarily comes from his stake in Salesforce. Indeed, he owns 3% of the company’s stock, valued at around $5 billion at current market value, making Marc Benioff a billionaire.
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Michale Jordan is a billionaire but doesn’t own the Jordan brand, which is part of Nike. Yet, he gets 5% royalties on the sales of Jordan. For instance, as of May 31, 2022, Nike had endorsement contract obligations of $7.6 billion, of which over $250 million were to be paid out to Michael Jordan as royalties on the sales of Jordan in 2022 (the company made over 5$ billion in sales in that year). We estimated that between 2018-2022 alone, Nike paid (or is paying) Michael Jordan almost one billion dollars in royalties for Jordan’s brand sales.
Kevin Plank is Under Armour’s primary owner and founder, of which he’s also chairman. His stake in the company is worth over a billion dollars at current market value, making him a billionaire.
Gennaro is the creator of FourWeekMBA, which reached about four million business people, comprising C-level executives, investors, analysts, product managers, and aspiring digital entrepreneurs in 2022 alone | He is also Director of Sales for a high-tech scaleup in the AI Industry | In 2012, Gennaro earned an International MBA with emphasis on Corporate Finance and Business Strategy.
