Frank Slootman Net Worth, Former CEO of Snowflake Inc.

Frank Slootman is a businessman who served as the former Chief Executive Officer (CEO) of Snowflake Inc. Slootman resigned from the post a few days ago and is now the Chairman of the board of directors. He is succeeded by Sridhar Ramaswamy of Indian-American origin, who worked with Google for 15 years. Snowflake is a cloud-computing data-based organization that offers a cloud-based data storage and analytics service.

Even though he is not a household name when it comes to tech biggies, Frank Slootman’s net worth is significantly higher than Apple’s CEO Tim Cook and Microsoft’s CEO Satya Nadella.

Frank Slootman’s Net Worth

Frank Slootman’s net worth is $3.7 billion, according to Bloomberg. He is the 1079th richest person in the world today. Also, Slootman’s net worth is higher than Tim Cook’s and Satya Nadella’s. While Cook’s net worth stands at $2.1 billion, Nadella is no longer a billionaire and has a net worth in millions.

Frank Slootman’s net worth in Indian rupees is 30k crores.

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Education

Frank Slootman attended Erasmus University in Rotterdam where he studied Advanced Economics. During his time there, he was involved in activities like Rotterdams Studenten Corps and Societiet ‘Hermes.’

After graduation, he moved to the United States.

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Career

Frank Slootman began his career in 1995 at Compuware. He stayed at the firm for about 8 years, before becoming the President and CEO of Data Domain Inc. in 2003. During this time, he played a key role in the company’s journey from a venture-backed storage firm to a successful IPO on NASDAQ in 2007. The company was eventually acquired by EMC in 2009.

He then took on the role of EVP & President, Backup & Recovery Systems (BRS) Division at EMC in 2009. Slootman then served as the Chairman and Chief Executive Officer at ServiceNow from 2011 to 2017.

In 2019, he assumed the position of Chairman and Chief Executive Officer at Snowflake. When Slootman took over, Snowflake was worth $4 billion. It has since more than doubled and increased dramatically. However, a few days ago, Slootman resigned from the position and now serves as the Chairman of the Board of Directors.

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Latest updates

Frank Slootman stepped down as CEO of Snowflake on February 28, 2024, transitioning to the role of Chairman of the Board. In his stead, Sridhar Ramaswamy, previously of Google, was appointed as the new CEO of Snowflake.

Following the news of Slootman’s resignation, Snowflake’s stock price experienced a significant decline. Some analysts believe Slootman’s departure could influence the company’s future growth trajectory. However, only time will tell how his transition to Chairman and the appointment of a new CEO will impact Snowflake’s performance in the long run.

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Frequently Asked Questions

Why did Snowflake’s CEO retire?

Snowflake’s CEO, Frank Slootman’s retirement reason remains a mystery. The brilliant businessman stepped down from his position on February 28, 2024.

Who is the new CEO of Snowflake?

Indian-American Sridhar Ramaswamy is the new CEO of Snowflake. Ramaswamy worked at Alphabet’s Google for 15 years as the head of its ads and commerce business.

Is Frank Slootman richer than Tim Cook?

Yes, Frank Slootman is richer than Tim Cook. While Apple’s CEO Tim Cook’s net worth is $2.1 billion, Frank Slootman’s net worth is $3.7 billion.

This post was last modified on March 5, 2024 8:21 am

Raya

Raya is a tech enthusiast diving deep into New-Age technology, especially Artificial Intelligence (AI) and Machine Learning (ML). She is passionate about decoding the complexities and uses of new-age tech. Raya is on a mission to write articles that bridge the gap between technical jargon and everyday understanding, making AI and ML accessible to a wider audience.