Bloomberg Billionaires Index

View profiles for each of the world’s 500 richest people, see the biggest movers, and compare fortunes or track returns.

#449 Garrett Camp $4.34B

Random fact: Founded Expa to fund the development of new companies.

Overview

Camp is the co-founder and chairman of Uber Technologies, the mobile car-booking service that operates in more than 600 cities worldwide. Shareholders in the San Francisco-based company sold $8 billion worth of shares at a $48 billion valuation as part of a December 2017 deal with a group of investors led by SoftBank.

As of May 26, 2018:
Last change No change
YTD change -$401M (-8.5%)
Industry Technology
Biggest asset Uber Technologies
Citizenship Canada
Age 39
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Garrett Camp's net worth of $4.34B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

Camp's fortune is derived from closely held mobile car-booking service Uber Technologies, which agreed to sell about $8 billion of existing shares at a $48 billion valuation in December 2017, according to a Bloomberg News article on Dec. 28, 2017. As part of the deal, the company also sold $1.25 billion of new shares at a $69 billion valuation, matching the valuation of a July 2016 fundraising round. 

Bloomberg's analysis uses the blended $54 billion figure to value Camp's assumed stake. A discount of 15 percent is applied to the valuation to account for typical discounts that startups attract on the secondary market, according to two brokers who asked not to be identified because the information is private. Prior to Dec. 29, 2017, Uber was valued using the $69 billion valuation. The switch to the lower valuation resulted in a a $1.1 billion fall in Camp's fortune on Dec. 29, 2017.

The San Francisco-based company is America's most valuable startup, according to researcher CB Insights.

Camp is credited with 8 percent of the business in Bloomberg's analysis. His stake hasn't been disclosed and was derived from a Bloomberg assumption that he owned the same size stake as co-founder Travis Kalanick, who had 10 percent of the company, according to an August 2017 lawsuit filed by investor Benchmark Capital. This 10 percent stake has since been adjusted to account for Camp's sale of 15 percent of his holdings, according to a Jan. 5, 2018 article by Recode.

Uber didn't respond to e-mailed requests for comment on Camp's net worth.

Biography

Birthdate: 10/4/1978
Family: Unknown, No children
Education: Master's Degree, University of Calgary

Garrett Camp was born in Calgary to an artist mother and an economist father who later became home builders, according to an interview he gave to the New York Times in 2011. He enrolled at the University of Calgary to study electrical engineering in 1996, dropped out after his junior year and moved to Montreal to intern at Nortel Networks, working on speech recognition technology. He returned to Calgary to finish the degree four years later.

Camp started web discovery platform StumbleUpon with three friends while still attending graduate school in 2002. They relocated the company to San Francisco and sold it to eBay for $75 million in 2007. He bought the company back with a group of investors two years later.

He co-founded mobile car-booking service Uber with Travis Kalanick in 2009. It debuted as an iPhone application in June the following year. The company has faced controversies and legal challenges in several cities around the world including New Delhi, where a driver was convicted of raping a passenger in December 2014. The company commissioned a probe into workplace violations in 2017 after allegations of harassment, discrimination and potential criminal activity and Kalanick resigned as chief executive officer in June 2017.

Uber shareholders agreed to sell $8 billion worth of shares to an investor group led by SoftBank in December 2017 at a $48 billion valuation, a steep discount to the $69 billion valuation the company received in a July 2016 fundraising round.

Garrett Camp lives in San Francisco where he is also involved with Expa, a startup studio that funds the design and development of new companies.

Milestones
  • 2000 Graduates from the University of Calgary.
  • 2007 Sells StumbleUpon to eBay for $75 million.
  • 2009 Co-founds Uber with Travis Kalanick.
  • 2009 Buys StumbleUpon back from eBay.
  • 2013 Forms startup studio Expa.
  • 2014 Funding round values Uber at $17 billion.
  • 2014 Uber raises $1.2 billion at a $40 billion valuation.
  • 2016 Rival Didi buys Uber's China operations.