Sean Parker Net Worth: Why He Resigned From The Facebook Company?

In the world of the internet, American businessman and entrepreneur Sean Parker is a household name. Besides becoming the first president of Facebook, Sean Parker is well-known for co-founding the file-sharing website Napster.

Early Life

It was in Herndon, Virginia, on December 3rd, 1979, when Sean Parker entered the world. His father, an oceanographer for the United States government, showed him how to use an Atari 800 computer when he was seven.

When Parker was in high school, he spent his free time coding and hacking. After he broke into the secure system of a Fortune 500 company one night, his father took away his computer’s keyboard, preventing him from logging out.

The FBI was given his IP address and showed up at his house to investigate. Because of his young age, he was sentenced to community service instead of jail time.

Parker went to school in Chantilly, Virginia, which is in Fairfax County. While he was there, he wrote to the principal in an effort to have his time spent in the computer lab coding qualify as a foreign language credit.

The institution concurred. Mark Pincus, the co-founder of Zynga and creator of FreeLoader, was his internship supervisor. While still in high school, Parker earned first place at the Virginia State Computer Science Fair using a Web crawler he programmed.

Thus, the CIA saw fit to enlist his services. In addition to starting several businesses while still a high school student, Parker was generating over $80,000 a year by the end of his senior year. He forwent formal education to pursue a career in business.

Napster

Although Parker was 15, Shawn Fanning was just 14, and the two of them met online. They became close due to their same enthusiasm for hacking. They started Napster in 1999. Napster attracted tens of millions of users in less than a year.

Sean Parker Net Worth

There was nothing like Apple Music, streaming music services like Spotify or Pandora, or even a CD player. No terrestrial radio stations had functioning websites until recently.

Napster was eventually shut down because of litigation filed by the RIAA and many bands, Metallica being the most prominent. Streaming music services like iTunes, Spotify, Pandora, and others wouldn’t exist today if not for Napster.

Plaxo

After that, in the latter half of 2002, Parker released Plaxo. An early social networking service, Plaxo connected its online address book with Microsoft Outlook. The success of Zynga, Facebook, and LinkedIn may be traced back to Plaxo. The company’s stockholders booted Parker out in 2004.

Resigned From The Facebook

For Parker, the introduction to “Facebook” came in 2004 by way of his roommate’s Stanford-student girlfriend. In the company’s fifth month of existence, he arranged a meeting with Mark Zuckerberg and Eduardo Saverin and became its first president.

As Facebook’s first investor, he brought in Peter Thiel. In 2005, Parker resigned as Facebook’s president after authorities discovered cocaine in the rental property he was using.

Parker became a managing partner at Founders Fund in 2006. Peter Thiel started the Founders Fund, a VC firm, in the San Francisco Bay Area. The firm’s primary area of interest is in making investments in startups.

When it comes to allocating the fund’s $500 million in funds, Parker is given complete discretion. To listen to music online, Parker was first exposed to Spotify in 2009. It all started with an email to the company’s creator, Daniel Ek. Also, read about Lil Bow Wow Net Worth

Parker put $15,000,000 into Spotify in 2010. The board of directors now includes him. Furthermore, he negotiated with Warner Music and Universal Music Group on Spotify’s behalf, which was crucial to the company’s successful launch in the United States in July 2011.

Parker declared his support for Brigade, an online forum for civic action, in April of 2014. As Executive Chairman, he has a lot of power.

Personal Life

The couple got engaged in 2011 and live in Nashville. According to reports, they spent $4.5 million on their wedding in Big Sur, California in 2013. Jack Dorsey, Mark Pincus, Dustin Moskovitz, and Chris Hughes were just some of the heavy hitters in the tech sector who showed up during the course of the three-day event.

Ngila Dickson, the costume designer for The Lord of the Rings films, created Tolkein-inspired gowns for all 364 guests to wear during the event.

The environmental harm caused by Parker’s wedding to the redwood forest was the subject of an article in The Atlantic. He did not have the necessary permit for the gathering. The location he rented from could not lock it up when he left. Also, read about Big Keene Net Worth

An official statement from the California Coastal Commission reads, “Mr. Parker, in essence, leased a continuing Coastal Act violation when he leased the campground.” Parker paid the Commission $2.5 million and developed a beach-mapping app as part of his settlement.

A daughter, Winter Victoria Parker, was born to Parker and his wife on January 6, 2013, and a son, Zephyr Emerson Parker, was delivered to them on December 1, 2014.

In the 2010 film about Facebook, The Social Network, Justin Timberlake portrays Parker.

Since 2005, Parker has been a dedicated supporter of cancer studies, international health initiatives, and community service. For example, he has given millions to the Sean N. Parker Center for Allergy Research at Stanford University and the Parker Institute for Cancer Immunotherapy.

Sean Parker Net Worth

Sean Parker Net Worth is estimated to be around $3 Billion currently. For $20 million in 2011, Parker purchased a Manhattan townhouse known as the “Bacchus House” for its infamous past as a party hotspot.

Before he bought the townhouse, he was paying $45,000 a month in rent. Parker spent a total of $40 million over the next few years on two adjacent townhouses, $20 million for one and $16.5 million for the other.

Parker spent $55 million buying a mansion in Los Angeles with nine bedrooms (dubbed “The Brody House”) in 2014. Ellen DeGeneres was the previous resident of this residence.

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