How much is Michael Moritz worth?
|Net Worth:||$4.5 Billion
|Date of Birth:||September 12, 1954 (age 67)|
About Michael Moritz
Sir Michael Jonathan Moritz, a Welsh billionaire venture capitalist, novelist, and former journalist, was born on September 12, 1954. His estimated net worth is $4.5 billion. One of Silicon Valley’s most well-known investors, Michael Moritz was instrumental in the growth of businesses including Google, LinkedIn, PayPal, and Yahoo.
Moritz, who was born in Wales, was given the “Outstanding American by Choice” award by U.S. Citizenship and Immigration Services in February 2012 in recognition of his contributions to the nation.
Early life in Wales and obtaining a student visa for the US
In 1954, Michael Moritz was born in Cardiff, Wales. After completing his high school education in Cardiff, he went on to Christ Church in Oxford, where he earned a master’s degree in history.
He arrived in the US shortly after on a student visa and later earned a business administration degree from the University of Pennsylvania’s Wharton School, where he was recognized as a Thouron Scholar.
Author Success, Then Venture Capitalist
Moritz’s initial occupation in the United States was journalism. In 1984, he published the acclaimed book The Little Kingdom: the Private Story of Apple Computer while working as a reporter for Time magazine. Along with Barrett Seaman of Time, he co-wrote Going for Broke: The Chrysler Story.
In 1986, Moritz began working for Sequoia Capital in Menlo Park, California. Early on, he understood the huge potential of the internet and the Silicon Valley businesses that could benefit from its expansion.
His venture capital career included included investments in Webvan, YouTube, Zappos, and eToys. At 24/7 Customer, Gamefly, Green Dot Corporation, LinkedIn, Sugar Inc., and Kayak.com, he served on the boards of directors.
Because of his ownership in Google, Forbes magazine named Moritz the top dealmaker on its “Midas” list of prosperous institutional investors in 2006. He was ranked No. 1 by Forbes in 2007, No. 2 in 2008, and No. 3 in 2009.
A Billionaire Investor’s Life
From his Silicon Valley investments, Moritz is thought to have earned a personal wealth of more than $1 billion. He and his wife, American novelist Harriet Heyman, gave his alma mater Christ Church, Oxford, a $50 million donation in 2008. It was the biggest gift the college had ever gotten.
“This is an expression of our gratitude for the compass of life that Christ Church and the University provided many years ago,” Moritz said on making the contribution. In 2009, Moritz updated his book on Apple, calling the sequel Return to the Little Kingdom: How Apple and Steve Jobs Changed the World.
Illness Forces Changes
Because of a rare and dangerous medical condition, Moritz informed his fellow investors in a letter that he was stepping down from his daily responsibilities at Sequoia in May 2012. Despite not providing any further details, he declared he will lead Sequoia.
“I have been diagnosed with a rare medical condition which can be managed but is incurable,” the letter said. “I’ve been told that in the next five to ten years the quality of my life is quite likely to decline. Right now I feel fitter than ever and I hope that I’ll be one of the lucky ones who can live a full life and defy the statisticians.”
Moritz, who became a citizen of the United States in 1998, lives in San Francisco with his wife and two kids. His support of President Obama and several of his immigration policies has been well-known and vociferous.
When it came to moving to the United States and assimilating, Moritz told Fortune magazine that Bill Deedes, the editor of the Daily Telegraph and a venerable Fleet Street figure, gave him the best counsel he had ever received. My goal to work on Fleet Street was set before I graduated from college. One wet day, I visited Bill in his office. He claimed he would travel to America if he were in my position. Thus, my compass was corrected. After that, I was determined to go. I could hardly have identified California on a map at that time, and I had no notion what venture capital even meant.
In 2019, the Booker Prize for authors was first sponsored by the nonprofit Crankstart, run by Moritz and his wife. Michael Moritz’s net worth is projected to reach $4.5 billion as of 2023.