Thursday, October 18, 2018

The sound of success: Spotify CEO’s net worth

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Spotify has become the most popular music streaming platform, with approximately 87 million paying customers as of June 2018. Founder, Daniel Ek, enjoys the fruits of his labor by sitting pretty at a net worth of 2 billion, with Spotify said to be worth at least $20 billion.

Spotify was founded in 2006 in Sweden, by a company called Spotify Technology S. A. Since launching their service in 2008, the streaming service has become available in 65 regions.

On February 2018, Spotify filed for a direct listing at the New York Stock Exchange, with its first shares trading on April the same year. It truly paved the way for more investors, thanks to the charismatic appeal of Ek.

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35-year-old Ek started his first tech company when he was only 14 years old, and had a taste of real tech money when he was able to sell his online advertisement company, Advertigo. According to a post by CNBC, Ek and co-founder Martin Lorentzon were talking about music in a small cabin outside Stockholm when they thought of the idea for a music streaming service. reports that financial analysts from advisory firm, GP Bullhound, believe that Spotify’s value could skyrocket to $55 billion by 2020. This means that Ek’s net worth would reach $5.5 billion when that time comes. Because of Spotify’s success, Ek now belongs to the elite group of 6o billionaires in the world under the age of 40.

I'm Steve Sorensen, an investment strategist and business graduate from Iowa State University. I am fascinated by the success of Fortune 500 companies and blog about the developments that led to the exponential growth in net worth of the world's most successful companies. For more articles on successful businesses and companies, visit this page.

Wednesday, September 26, 2018

The fastest growing net worth in the tech industry today

Considering the epic rise of tech companies such as Facebook, Amazon, and Alibaba, it’s no surprise that people keep looking at Tech or FinTech companies for massive growth. These industries can grow a mile overnight and can reach the heavens within months of their initial operations. Here are some of the fastest growing companies in terms of net worth.

In terms of growth, Amazon is still king. With a rather impressive 59% growth in stock prices over the last year, CEO Jeff Bezos is currently the richest tech CEO with a net worth of $112 billion, the only tech billionaire to breach the $100 billion mark. This recent stock growth contributed close to $40 billion to his current net worth. Bezos currently owns 16% of Amazon stocks.

Bill Gates held the spot for richest man alive 18 times in the last 24 years and goes back to number 2 this year with a net worth of $90 billion. This net worth does not include the $31 billion Gates has donated to philanthropic causes over the years.

Two of the top newcomers in the tech industry hail from Russia. Andrey Andreev, creator of Badoo, the largest dating website in the world, makes it to the list along with Pavel Durov, known for being the Russian Mark Zuckerberg. Some of Durov’s creations include social media network Vkontakte and Telegram Messenger.

My name's Steve Sorensen, an investment strategist and, recently, business blogger. I have been fascinated by the meteoric growth of some of the world's most successful companies, so I have been looking into their history to find out how their net worth has grown to Fortune 500 levels. For more insightful reads on the tech industry’s CEOs, visit this website.

Tuesday, July 11, 2017

Top Tech Companies and Their Net Worth

There’s no doubt that tech companies are on the top of their business game, especially with everyone’s dependence on gadgets and social media accounts for their day to day activities. In the Fortune 500 list, it’s no longer a surprise for Apple to emerge as no. 1. Social media giant, Facebook, is rising to the top, too, as Samsung follows Apple from a considerable distance.


Apple took the top spot with a net worth of $752 billion. The iPhone sales weren’t as impressive as the previous ones. Regardless of the weak sales in iPhone, Apple had $45 billion in profit, $217 billion in sales, and $331 billion in assets, for a total of $752 billion in net worth. The tech giant isn’t showing signs of slowing down, as it may reach a trillion-dollar net worth with their future iPhone and other releases.

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Samsung is the main competition of Apple. It follows Apple from a safe distance with a net worth of $254 billion. The South Korea-based tech company saw $174 billion in sales, $19 billion in profit, with $217 billion in assets, making the $254 billion net worth possible. Samsung did make Asia proud, being the only Asia-Pacific company to have broken into the top 10.

Along with the two tech giants is Facebook. The social media star soared 69 spots on the Global 2000 list. These companies have made their way to the top with their innovations and expertise. I’m looking forward to their net worth growth. These companies just keep getting heavier and heavier in the market.

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Steve Sorensen here. A graduate of the Iowa State University with a business degree on business, I’ve become a business blogger and an investment strategist. The growth in net worth of successful companies has inspired me to look deeper into their strategies. Follow me on this blog as I discover their secrets.

Wednesday, June 14, 2017

Women Are Winning In These Areas Of Business

Women entrepreneurs are on a roll, with female-owned enterprises growing at a rate five times the national average in the last nine years, according to The 2016 State of Women-Owned Business Report. They now contribute over $1.6 trillion in business revenue.

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Here are five trends in business that show it’s actually a woman’s world, as reported by

Winning the pitch
Female-run agencies are receiving more requests for proposals (RFPs) and showing up more often in conference rooms formerly dominated by men. And they are actually winning more pitches than in just a decade earlier.

Diversity vendors participating more
More corporations are required to award a percentage of their vendor contracts to so-called “diversity” vendors, used to be known as “minority owned” in the business world. This trend is being furthered by providing certifications that make women-owned businesses eligible for a coveted seat at the table.

Using feminine intuition
If men are bagging deals through the ways of the good ol’ boys club (such as over the golf course or a bottle of scotch at a bar), women are trusting their intuition and using it to enhance their business skills. They tell it like it is and demonstrate the classic confidence that comes with their femininity.

Engaging in business more than ever
In the United States alone, over 9.4 million companies are women-owned, generating $1.5 million in sales as of 2015. These numbers are only expected to climb year over year, hopefully evening the traditionally sexist score.

Being recognized by company decision makers
Women leverage their role as everyday decision makers, taking the lead in purchase decisions and other decisions in the household and business. An overwhelming rate of women also participates on social media, influencing other women’s purchase decisions. This way, the higher-ups in business organizations are recognizing their value even more each day

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Steve Sorensen is an investment strategist and business blogger who is a longtime resident of Des Moines and holder of an undergraduate degree from the Iowa State University. Read more about business and investment strategies on this page.

Tuesday, May 30, 2017

Net worth combination: The biggest mergers in history

When two companies of immense net worth merge, the results are often extreme. Either they soar to unprecedented heights, or they become historical markers for epic failures. Whatever the result may be, they always end up affecting a significant percentage of the population. Here are some of the biggest mergers the world has ever seen. 

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AOL and Time Warner 

After the computations were made, it was estimated that this deal cost a whopping $164 billion. The problem though was that before its tenth year anniversary, the partnership collapsed due to a combination of factors. At the end, Time Warner returned to being its own company. 

Vodafone and Mannesmann 

This merger happened a month after the AOL-Time Warner merger and it holds the record the biggest merger in recorded history. It happened in February 2000, with over $180 billion at stake. It did have a few kinks, like the Germans not accepting the deal warmly. But these were eventually ironed out and Vodafone emerged as the industry leader in mobile devices.

Verizon and Verizon Wireless 

This merger happened a lot more recently. Verizon pulled off a coup by taking Verizon Wireless from Vodafone – but without coughing up $130 billion. That may sound like a huge loss, but Verizon has become much more competitive in the US because of this merger. 

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Hi, I’m Steve Sorensen and I’m interested in learning about companies with rising net worth. For updates, subscribe to this Twitter account.

Wednesday, April 12, 2017

Ranking The Most Powerful Ceos In The World

We’re all familiar with the ranking of the most powerful people in the world. It’s a list of who’s who of global influencers. From Russia’s president, Vladimir Putin (#1) to billionaire political donor, Charles Koch (#31), there are only 74 individuals who make the list. But when it comes to powerful CEOs, the basis isn’t just the market cap, but their influence in the company and the industry they’re in.

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Here’s the top 10 list of CEOs according to Forbes Magazine:

10. Doug McMillon Walmart Market Cap: $220B 

9. Lloyd Blankfein Golden Sachs Market Cap: $99B

8. Rex Tillerson ExxonMobil Market Cap: $377B

7. Jeffrey Immelt GE Market Cap: $282B

6. Elon Musk SpaceX, Tesla, SolarCity Market Cap: $31B (Telsa)

5. Jamie Dimon JPMorganChase Market Cap: $303B

4. Warren Buffett Berkshire Hathaway Market Cap: $409B

3. Jeff Bezos Amazon Market Cap: $316B

2. Mark Zuckerberg Facebook Market Cap: $304B

1. Larry Page Alphabet Market Cap: $550B

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Hi there! I’m Steve Sorensen, a business blogger. I explore the stories behind the net worth of some of the world’s successful businesses. Subscribe to my blog for similar reads.

Thursday, March 30, 2017

Business thriving: When a company sheds its startup status

How does one say that a business is a startup or something more than that? Does it have any-thing to do with size, net income, and years in the business? A lot of us have seen and recognized startups, but we can’t really define what sets them apart from bigger companies. And some companies still have the “startup mentality” even after they have supposedly outgrown the sta-tus. Here’s how we can say a company has left its startup status. 

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More employees If the company has around thirty full time employees (which has doubled or tripled after its in-ception), it’s safe to say that its startup status is over. And when a company has satellite offices and branches, it is no longer considered a startup. Instagram is an example of a startup gradu-ate, having started with 12 employees, with its team exponentially multiplying after its acquisi-tion by Facebook. 

Stable finances A lot of businesses often make ends meet just to sustain operations. This might mean salary and budget cuts. But when the business can pay its employees well (with benefits) and makes great profit, it is no longer a startup. 

Brand recognition When a business does not need to boast about its awards, client base, and other notable achieve-ments; and is known for their unique branding, it is no longer a startup. 

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Hi there, I’m Steve Sorensen, a networth and business blogger. Check out this pagefor more business news.