What is Michael Saylor’s Net Worth?
Michael Saylor, an American entrepreneur and former CEO of MicroStrategy, has a net worth of $500 million.
He co-founded MicroStrategy and led the technology services company for 33 years before stepping down in August 2022 following the company’s loss of $917 million in Bitcoin investments.
At the time of his departure, Saylor owned an estimated 23% of MicroStrategy’s public shares, which was worth around $600 million pre-tax.
Aside from his business ventures, Saylor founded and serves as the sole trustee of the non-profit online education provider Saylor Academy.
Early Life and Education
Michael Saylor was born on February 4, 1965 in Lincoln, Nebraska to a US Air Force chief master sergeant. He spent his early years moving around various Air Force bases before settling in Fairborn, Ohio at the age of 11. Saylor attended Massachusetts Institute of Technology on an Air Force ROTC scholarship where he met his future business partner Sanju K. Bansal through their fraternity Theta Delta Chi. Saylor graduated from MIT in 1987.
Despite his desire to become a pilot, Saylor’s medical condition made it impossible for him to pursue that career. He joined the consulting firm the Federal Group and worked on computer simulation modeling. He later became an internal consultant at DuPont.
MicroStrategy and Alarm.com
Michael Saylor co-founded MicroStrategy with his MIT fraternity brother Sanju Bansal and Thomas Spahr in 1989. The company initially developed software for data mining but shifted its focus to software for business intelligence activities. MicroStrategy secured a $10 million contract with McDonald’s in 1992, which was its first major client. Saylor took MicroStrategy public in 1998, and by early 2000, he became the wealthiest man in the Washington, DC area. That same year, the company founded Alarm.com.
Michael Saylor’s Controversial Career
In 2000, MicroStrategy’s price-per-share dropped dramatically during the dot-com bubble burst, causing Saylor to lose around $6 billion. Later that year, the company was embroiled in an accounting fraud scandal. The US Securities and Exchange Commission found that MicroStrategy had inaccurately reported its financial results for the prior two years, resulting in Saylor paying $350,000 and a personal disgorgement of $8.3 million to settle the case.
In March 2020, Saylor sent a memo to all of MicroStrategy’s employees criticizing COVID-19 safety protocols and refused to close the company’s offices unless required to do so by law. Later that year, he announced that the company would begin purchasing Bitcoin and other alternative investments instead of holding cash. By October 2021, MicroStrategy had accumulated 121,044 Bitcoin in total holdings.
Saylor Resigns as CEO of MicroStrategy Following Loss of $917 Million in Bitcoin
Michael Saylor’s Bitcoin strategy has proven to be tenuous. In August of 2022, MicroStrategy lost $917 million in Bitcoin, leading Saylor to resign as CEO of the company, ending his 33-year tenure. He became MicroStrategy’s executive chairman, while the company’s president Phong Le became the new CEO.
Saylor Academy: Providing Free Online College Courses
Michael Saylor founded Saylor Academy in 1999, which now offers hundreds of free college-level online courses. The non-profit organization also funds the development of new materials as needed and is able to offer degrees to its students through cooperation with other groups. Saylor is the sole trustee of the foundation.
In addition to his work with Saylor Academy, Saylor wrote “The Mobile Wave: How Mobile Intelligence Will Change Everything,” a non-fiction book published in 2012. The book explores the potential effects of mobile technology on various industries, including education and healthcare. “The Mobile Wave” made it to the New York Times Best Seller list in August of 2012.
Michael Saylor’s Luxurious Properties
Michael Saylor, the CEO of MicroStrategy, previously lived in the luxurious Villa Vecchia in Miami Beach, Florida. This waterfront mansion, built in 1928, features 13 bedrooms, 12 bathrooms, a grand ballroom, a mahogany-paneled library, a formal dining room, and a gourmet kitchen. The property also boasts a pool pavilion, a waterfront gazebo, and a dock that can fit a 100-foot yacht. A guest house with two bedrooms and a detached gym with a bathroom and steam room are also included in the property.
In addition to Villa Vecchia, Saylor also owns a home in McLean, Virginia.