Posted 3/4/2024, 12:30:00 PM
Snowflake CEO Departs with $3.7B Fortune After Guiding Company to IPO Riches
- Frank Slootman stepped down as Snowflake CEO with a net worth over $3.7 billion, more than Apple's Tim Cook or Microsoft's Satya Nadella
- Slootman amassed his wealth by leading Snowflake, ServiceNow, and Data Domain through IPOs and acquisitions
- He has a reputation as a tough, confrontational leader who understands how to build companies
- Snowflake stock plunged 18% on news of his departure and disappointing sales outlook, cutting his net worth by ~$500 million
- His replacement, former Google exec Sridhar Ramaswamy, will get $100 million in stock awards and $750,000 salary over the next 5 years