Who Is Frank Slootman? All About The Tech CEO Who Is Richer Than Tim Cook, Satya Nadella
Slootman has earned his net worth majorly through his leadership at Snowflake and ServiceNow Inc. IPOs and heading Data Domain are other pillars of his net worth.
Snowflake CEO Frank Slootman stepped down from his position a couple of days ago. He may not be as popular as Tim Cook or Satya Nadella, but he is reported to be wealthier than them.
According to the Bloomberg Billionaire Index, Slootman's net worth is higher than that of Microsoft's Satya Nadella and Apple's Tim Cook.
Although Slootman is no longer the CEO of the US-based cloud firm, Snowflake, he will continue his role as the chairman of the board. His net worth, after withdrawing from the CEO position, was reported to be around $ 3.7 billion (Rs 30,710 crore).
The net worth of Cook is reported to be $2 billion (Rs 16,600 crore) and Nadella was not reported to be a billionaire as of July 2023.
"It’s rare for a non-founder in the tech industry to amass that level of wealth — Slootman did it by leading Snowflake and ServiceNow Inc. through initial public offerings and was head of data-storage firm Data Domain when it was taken over by EMC Corp. in 2009," a Bloomberg report said.
Over the years, he has built a cult-like reputation in the software industry with his to-the-point communication style and tough leadership skills. In 2023, he mentioned in a podcast that CEOs need to be 'insanely confrontational'.
Slootman has earned his net worth majorly through his leadership at Snowflake and ServiceNow Inc. IPOs and heading Data Domain are other pillars of his net worth.
“Frank understands how hard it is to build companies and he’s done it repeatedly,” said David McJannet, CEO of HashiCorp Inc., another software infrastructure company, in a September interview.
The news of Slootman stepping down from the CEO position had a significant impact on the stock value as the Snowflake stock plummeted 18% on February 29, which was one of the worst days in the company's history.
This affected Slootman's net worth which dropped by $500 million (Rs 4,150 crore), but the company refused to comment on this.
“It is no doubt concerning to see Mr Slootman, who has a strong track record and is well regarded by investors, step down after five years in the role,” a report quoting Brad Zelnick, an analyst at Deutsche Bank AG, stated.
