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What is Marc Benioff’s Net Worth?
Marc Benioff, the co-founder, chairman, and CEO of Salesforce, has an estimated net worth of $10.1 billion. This substantial wealth primarily stems from his approximately 3% stake in Salesforce, a leading customer relationship management (CRM) software company that he co-founded in 1999.
His entrepreneurial spirit led him to establish Salesforce, which revolutionized the software industry with its cloud-based CRM platform. Under his leadership, Salesforce has grown into a tech giant with a market capitalization that has at times exceeded $250 billion.
In fiscal 2024, his total compensation was reported to be $39.6 million, which includes a base salary, bonuses, and equity awards.
In addition to his stake in Salesforce, Benioff owns several luxury properties, including a significant estate in Hawaii and a mansion in San Francisco’s exclusive Pacific Heights neighborhood.
Benioff is known for his philanthropic efforts. He and his wife, Lynne, have donated hundreds of millions of dollars to various causes, including public education, healthcare, and social justice initiatives. Their significant contributions to the University of California at San Francisco led to the establishment of the UCSF Benioff Children’s Hospital.
Here’s the breakdown of Marc Benioff’s net worth:
Name: | Marc Benioff |
Net Worth: | $10.1 Billion |
Date of Birth: | September 25, 1964 |
Profession: | Businessperson |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life and Education
Marc Russell Benioff was born on September 25, 1964, and raised in a Jewish family in the San Francisco Bay Area. He grew up in Hillsborough, California, and attended Burlingame High School, graduating in 1982. From a young age, Benioff exhibited a keen interest in technology and entrepreneurship.
At just 14 years old, he sold his first piece of software, “How to Juggle,” for $75. By the age of 15, he had founded his first company, Liberty Software, which created and sold video games for the Atari 8-bit computer, generating enough income to help pay for his college tuition.
Benioff pursued higher education at the University of Southern California (USC), where he earned a Bachelor of Science in Business Administration in 1986. During his time at USC, he was an active member of the Tau Kappa Epsilon fraternity and ran Liberty Software out of his dorm room.
His professors encouraged him to gain real-world experience, leading to a pivotal internship at Apple Computer’s Macintosh Division, where he wrote assembly language code and was inspired by Steve Jobs.
Career
Marc Benioff’s professional career began at Oracle Corporation, where he joined after graduating from USC. He spent 13 years at Oracle, rapidly advancing through various roles in sales, marketing, and product development.
At 23, he was named Oracle’s Rookie of the Year, and by 26, he became the youngest vice president in the company’s history.
In 1999, Benioff co-founded Salesforce in a rented San Francisco apartment, with the vision of revolutionizing the software industry through cloud computing. He coined the term “The End of Software” to emphasize the shift from traditional software to cloud-based solutions.
Under his leadership, Salesforce introduced the concept of Software as a Service (SaaS) and later expanded its offerings to include a platform for developers to create custom applications. Salesforce’s innovative approach and Benioff’s strategic vision propelled the company to become a global leader in customer relationship management (CRM) software, with a market capitalization that has at times exceeded $250 billion.
Benioff also pioneered the 1-1-1 model, dedicating 1% of Salesforce’s equity, product, and employee time to charitable causes. This model has been adopted by thousands of companies worldwide.
Real Estate
Marc Benioff owns several high-value properties, including a mansion in San Francisco’s Pacific Heights neighborhood and a significant estate in Hawaii.
In recent years, Benioff has quietly acquired over 600 acres of land in Waimea, Hawaii, through various limited liability companies (LLCs). These purchases have sparked concern among local residents about rising housing costs and cultural disruption.
However, Benioff has emphasized his commitment to philanthropy in the region, donating substantial portions of the land for affordable housing projects and community development. For instance, he has donated 282 acres to the Hawaii Island Community Development Corporation for affordable housing and another 158 acres for other philanthropic uses.
Recognition
Marc Benioff’s innovative leadership and business acumen have earned him numerous accolades throughout his career. He was named “Innovator of the Decade” by Forbes and is recognized as one of the World’s 25 Greatest Leaders by Fortune.
Harvard Business Review has listed him as one of the 10 Best-Performing CEOs, and he was named CNN Business CEO of 2020. In 2022, Chief Executive Magazine honored Benioff as CEO of the Year.
His commitment to equality has also been recognized, with honors from GLAAD, the Billie Jean King Leadership Initiative, and Variety Magazine’s EmPOWerment Award.
Philanthropy
Benioff and his wife, Lynne, have donated more than $1 billion to various causes. Notable contributions include $250 million to build UCSF Benioff Children’s Hospitals, $60 million to establish the Benioff Ocean Science Laboratory at the University of California, Santa Barbara, and $35 million for prostate cancer research at UCSF.
The Benioffs have also made substantial donations to combat homelessness and support public education. In 2020, they received a George H.W. Bush Points of Light Award for their civic engagement.
Benioff is known for his vocal stance on social issues, often using his position as CEO to advocate for change. He has been a strong proponent of equal pay, spending millions to address gender and racial pay gaps within Salesforce.
Benioff has also been outspoken on LGBTQ+ rights, opposing anti-LGBTQ+ legislation in various states and threatening to withdraw business from areas that discriminate.
His advocacy extends to environmental issues and corporate social responsibility, with Benioff often encouraging other CEOs to take similar stands.
However, it has also drawn criticism from some investors and politicians who argue that his focus on social issues may come at the expense of shareholder value.
Despite this, Benioff maintains that businesses can and should be platforms for positive social change, a stance that has become integral to his public persona and leadership style.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
