John Zimmer, the President and Co-founder of Lyft, was born on 14 March 1984. He has an estimated net worth of $36 million, and is one of the richest people born in the United States. He has a wife and two children. He was once a student at Cornell University, where he was a member of Sigma Pi Fraternity and the Quill and Dagger Society. While at Cornell, he got the idea to start a ride-sharing company after filling empty seats during school breaks. His wife, Andrea, has helped him find a work-life balance, and he loves his daughter, Penelope.
After leaving Lehman Brothers, Zimmer worked for an internet start-up. His goal was to build a successful business by providing good customer service to customers. To this end, he worked with 125 colleges and received $7.5 million in subsidies. In May of 2013, he picked Lyft as the name of the company.
Zimmer’s net worth comes from his stake in Lyft. As a co-founder, he has a 2.9 percent stake in the company. He has invested more than $800 million into the company. His stake is in the company, and he never took a salary in the first three years.
Another notable member of the Lyft board of directors is Sean Aggarwal, an early angel investor. He joined the board in 2016, and is the largest individual shareholder. His shares are worth over $27 million at $83/share. While he is not the sole owner of Lyft, his stake makes him one of the highest-paid executives in the company. He earned more than $313,000 last year alone.
Lyft is a popular ride-sharing service that facilitates over a million rides each day. It is available in over ninety-five percent of the United States, including the cities of Toronto and Vancouver. Zimmer grew up in Greenwich, Connecticut, and studied at Cornell University’s School of Hotel Administration. He was a member of Sigma Pi Fraternity and worked at Lehman Brothers in New York City. He later joined Lyft and helped launch it.
Lyft has raised over $5 billion in its short history. Its IPO in April 2017 capped a seven-year journey and saw the company’s valuation climb from seed funding to a publicly traded company valued at over $27 billion. Those early investors now stand to make many times their initial investment. The two founders currently own stakes worth $675 million and $415 million, respectively.
The company has a large following among private investors. Private investors have valued the company at $76 billion. Two of its co-founders, Garrett Camp and Ryan Graves, are billionaires. The two of them own about 8% of Lyft. They also have several other high-profile investments in the company.
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