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8 San Francisco-Based Billionaires
San Francisco has long been a beacon of technological innovation, nurturing entrepreneurs who have transformed industries and amassed a significant net worth along the way. This tradition spans from pioneering tech moguls to contemporary disruptors reshaping the various industries and business landscapes. LUXUO spotlights eight San Francisco-based billionaires and the start-ups they founded. These entrepreneurial billionaires are divided into two categories: four legacy founders whose early ventures laid the groundwork for the city’s tech dominance and four (relatively) recent entrepreneurs whose startups have introduced fresh paradigms in their respective sectors. LUXUO has also included their net worth figures which are dated as of 30 March 2025 and sourced from various reputable financial publications.
Legacy Founders
Max Levchin – Co-founder of PayPal and Affirm
Net Worth: USD 2.3 billion (as reported by Forbes, March 2025)
Levchin, a key member of the “PayPal Mafia”, co-founded PayPal in the late 1990s, establishing one of the earliest successful platforms for online payments and pioneered digital payments. After PayPal’s acquisition by eBay, Levchin launched Affirm, a company that offers a modern alternative to traditional credit, allowing consumers to make purchases and pay in instalments. Affirm’s buy-now-pay-later model has revolutionised consumer finance, offering flexible payment options for the modern shopper.
Alison Pincus – Co-founder of One Kings Lane
Net Worth: USD 1.4 billion (as reported by Forbes, March 2025)
One Kings Lane is a luxury home decor brand founded by Alison Pincus in 2008, and while it has been around for a while, it remains influential in the high-end home goods market, offering designer furniture and decor. Pincus is actively involved in shaping the future of luxury in both e-commerce and in-person experiences, with a focus on curated luxury living products. Today, Pincus continues to leverage her understanding of design and e-commerce to bridge the gap between digital shopping and offline experience, maintaining a strong presence in the evolving luxury home goods sector.
Reed Hastings – Co-founder of Netflix
Net Worth: USD 5.5 billion (as reported by Forbes, January 2025)
What started as a DVD rental-by-mail service in 1997 evolved into a streaming powerhouse that reshaped how audiences consume entertainment content. Hastings’ vision for an on-demand, ad-free viewing experience led Netflix to pioneer the subscription streaming model, effectively dethroning cable television and traditional media giants. By leveraging data-driven recommendations and investing heavily in original programming — such as House of Cards, Stranger Things and The Crown — Netflix became a cultural juggernaut. Under Hastings’ leadership, Netflix expanded globally, reaching over 200 million subscribers across over 190 countries. His strategic bet on streaming, followed by aggressive investments in AI-driven content curation and mobile-first distribution, cemented his status as a digital media pioneer. As of January 2025, Forbes estimated Hastings’ net worth at $5.5 billion. Though he stepped down as Netflix’s CEO in 2023, his impact on entertainment, content distribution and Silicon Valley’s approach to digital transformation remains unparalleled
Peter Szulczewski – Founder of Wish
Net Worth: USD 2.9 billion (as reported by Forbes, March 2025)
Peter Szulczewski, the founder of Wish, is a lesser-known but influential figure who revolutionised the world of budget-friendly e-commerce. In 2010, Szulczewski co-founded Wish, a platform designed to make affordable goods more accessible to consumers worldwide. While the idea of online shopping was nothing new, Szulczewski tapped into a growing mobile commerce trend and created a shopping experience optimised for smartphones, which at the time was a significant shift in the industry. Wish’s unique approach leveraged a highly personalised shopping experience, using an algorithm that presented customers with curated products based on their browsing and purchasing history. This approach helped to create a highly engaging platform that drew in millions of users, particularly those looking for affordable, off-brand products that were often difficult to find in traditional stores.
What truly set Wish apart, however, was its emphasis on mobile-first design. As smartphone usage grew globally, Wish became one of the first e-commerce platforms to fully embrace this trend, making it an easy and convenient way for consumers to shop on the go. Szulczewski also capitalised on globalisation, allowing sellers from across the world, especially in China, to offer products directly to consumers, bypassing the traditional retail infrastructure. This direct-to-consumer model not only reduced costs but also enabled a faster and more efficient supply chain. As of 2025, Wish continues to challenge the traditional e-commerce giants like Amazon, redefining the space with a model that prioritises affordability, convenience, and mobile engagement.
New-Wave Entrepreneurs
Chris Britt – Co-founder of Chime
Net Worth: USD 2.2 billion (as reported by Finextra Research, 2024)
Chris Britt co-founded Chime in 2013 to challenge the traditional banking system, creating a neobank that offers fee-free banking services. Chime has quickly become one of the fastest-growing fintech platforms in the United States, providing banking services like no-fee checking and savings accounts, as well as cash-back rewards for users. Britt’s innovative approach to modern banking has resonated with consumers who are seeking a more transparent and accessible way to manage their finances.
Apoorva Mehta — Founder of Instacart
Net Worth: USD 3.5 billion (as reported by Forbes, March 2025)
In 2012, Apoorva Mehta founded Instacart, an on-demand grocery delivery service that quickly became a household name. By partnering with major grocery chains, Instacart allows users to order groceries online for same-day delivery, making it a lifeline during the COVID-19 pandemic. Mehta’s focus on offering an intuitive platform for users to shop for groceries from local stores — while also streamlining the supply chain for grocers — has led to rapid growth, positioning Instacart as the go-to service for convenient, on-demand food shopping. What started as a simple concept has grown into a multibillion-dollar company, reshaping the way people shop for groceries. Mehta’s leadership in building and scaling the company has earned him recognition as one of the top entrepreneurs in Silicon Valley.
Tony Xu — Co-Founder of DoorDash
Net Worth: USD 2.8 billion (as reported by Forbes, March 2025)
Tony Xu co-founded DoorDash in 2013, a food delivery platform that has become synonymous with convenience in the U.S. DoorDash revolutionised the food delivery service by creating an easy-to-use platform that connects customers with local restaurants. The company also capitalised on the gig economy, offering flexible earning opportunities for drivers. Xu’s leadership has made DoorDash a dominant force in the industry, and it continues to innovate by expanding its service offerings, including grocery and convenience store deliveries. Xu built DoorDash into the dominant food delivery service in the United Service, capitalising on the gig economy and logistics innovation to scale the business.
Julie Wainwright – Founder and CEO of The RealReal
Net Worth: USD 1.2 billion (as reported by Forbes, March 2025)
The RealReal, an online luxury consignment platform founded by Julie Wainwright in 2011, has grown into a billion-dollar business. Based in San Francisco, the company is known for offering authenticated pre-owned luxury items like watches, handbags and fine jewellery. Julie’s leadership has shaped the intersection of luxury and sustainability, as her vision was to bridge the gap between luxury and sustainability, turning second-hand luxury goods into a desirable and socially responsible purchase for affluent consumers. While the company went public in 2019, it is still a key player in reshaping how people buy and sell luxury goods. Julie Wainwright exemplifies a modern entrepreneur whose wealth is tied to both luxury and innovation in the resale market.
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Significant Sales: February 2025 Highlights
From an AED 330M sale in Dubai, United Arab Emirates, to a US$39.995M sale in Newport Beach, California, here are five sales represented by the Sotheby’s International Realty global network in February.
Dubai, United Arab Emirates
Regan Faulkner, Ioana Armeanu | Dubai Sotheby’s International Realty, AED 330M
View properties in Dubai, United Arab Emirates
Newport Beach, California
Steve High, Evan Corkett | Pacific Sotheby’s International Realty, US$39.995M
View properties in Newport Beach, California
Santa Rosa Beach, Florida
Brad Dahler | Scenic Sotheby’s International Realty, US$13.3M
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Auckland, New Zealand
Patrick McAteer, Suzanne Browne | New Zealand Sotheby’s International Realty, NZ$12.5M
View properties in Auckland, New Zealand
Los Angeles, California
John Giddins | Sotheby’s International Realty – Brokerage, US$14.435M
View properties in Los Angeles, California
Discover previous editions of Significant Sales on the blog
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Life Insurance vs. Emergency Fund: Why You Probably Need Both
When the worst happens in life, you or your loved ones ideally need funds to fall back on. But how best to ensure money is there when it’s needed?
Two leading options are to build an emergency fund to cover unexpected expenses when you’re alive, or to invest in a life insurance policy that pays out when you die. Many people will need both forms of financial protection, but how best to decide how and when each should be funded?
Understanding when an emergency fund and a life insurance policy comes into play — and how to potentially afford both — will help you prepare for the future. Here’s a rundown of the best role for each of these financial sources, with tips on when and how to arrange for each.
The role of an emergency fund
No matter how careful you are, life has a way of throwing hurdles and hiccups in your direction. Whether it’s a flat tire, a broken appliance or a pet that needs emergency veterinary care, an unexpected expense can easily burn a hole in your finances.
An emergency fund helps you cover those unforeseen setbacks without having to rely on increasing your debt. A fund can also help in the event of an unexpected loss of income. If you’re let go from your job or your hours are cut, that emergency balance can help you pay for essential expenses, such as your rent and utilities, and so give you time to get back on your feet.
Ideally, an emergency fund’s balance should be enough to cover between three to six months’ worth of expenses. If that goal sounds all but impossible, start small; any amount is a good starting point. Over time, you can build your savings month by month until you meet that goal.
If you’re wondering how to start an emergency fund on a tight budget, these tips may help:
- Sign up for a high-yield savings account (HYSA): A HYSA pays a higher rate of interest than other savings accounts, which can help your money to grow faster.
- Track your spending: Creating a budget and tracking your spending can reduce the number and value of the unnecessary or impulse purchases you make, freeing up more cash for your emergency fund.
- Get a side gig: If money is tight, you may need to boost your income to have enough cash to build an emergency fund. A side gig can be a good way to increase your income during your free time.
The purpose of life insurance
Some people use life insurance as part of their estate planning and to build generational wealth. But the most prevalent purpose of life insurance is to provide for those who survive you after you die.
If you were to pass away suddenly, life insurance aims to help your loved ones cover expenses without your income. For instance, if you have young children, a life insurance policy could help pay the home mortgage and your children’s college education.
Life insurance needs vary by the individual, of course, but one general guideline is to purchase a life insurance policy with a death benefit equal to 10 to 15 times your annual income. For example, if your salary is $60,000 per year, you would buy $600,000 to $900,000 in coverage.
That might sound like a huge purchase, but term life insurance — the least expensive form of life insurance — may be more affordable than you think, especially if you buy it when you’re relatively young. For example, the monthly price for a $250,000 20-year term life insurance policy can be as little as $15 or so for a healthy 30-year-old, whether male or female.
Insurance vs. fund: when each option is needed
Emergency funds and life insurance policies provide critical protection. In some circumstances, you may need both. When deciding which you need, ask yourself the following questions:
You most need an emergency fund if:
- You work in a volatile industry: If you’re employed in a field that is particularly prone to market changes or layoffs, such as finance or technology, you’re more likely to have a lapse in employment, and it may take longer to find a job. You likely need a larger emergency fund than workers in other fields.
- You lack multiple streams of income: You’ll be better able to weather financial storms if you have sources of income other than from your own job, such as a spouse’s salary or earnings from a side business. But if you lack such supplemental income, and rely on a single paycheck, an emergency fund will be especially important to ensure you can cover your bills.
- You’d struggle with an unexpected expense: Besides coping with job loss, an emergency fund helps pay for expenses you didn’t anticipate. If you have little to no financial cushion now – say to repair your car if it breaks down or for travel to be with a sick loved one – it’s all the more important that you build an emergency fund that’s sufficient to cover such out-of-the-blue expenses.
You most need life insurance if:
- You have children: Life insurance is an essential component of protecting your family as parents. A life insurance policy ensures there are funds to help pay for the care and education of your family if you were to pass away unexpectedly.
- You have a non-working spouse: If your partner stays at home, they’re dependent on your income, so you need a life insurance policy to provide for them in the event you pass away.
- You have other dependents: Even if you don’t have children, life insurance may still be a necessity. If you have other dependents or those who rely on you for financial support — such as an elderly parent or a sibling with a disability — life insurance can provide for their continued care after your death.
Protecting your finances
Emergency savings and life insurance may compete for your limited funds, but each has its own role within your finances. An emergency fund can help cover unexpected expenses or income loss, while life insurance helps make your loved ones financially whole in the event of your untimely death.
It’s true that a sizable emergency fund – one that contains three to six months of income – can help fill the gap in the event of your unexpected death. But the extent of that help is likely fairly modest – at most in the five-figure range. That falls well short of the six figures that’s generally recommended for life insurance, under the formula that a policy’s death benefit be 10 or more times your annual income.
The upshot: More than likely, both emergency funds and life insurance should play key roles in your financial planning. When it comes to these cornerstones of personal finance, few families need only one.
A final tip, if you happen to be holding more than six months of expenses in your emergency-fund savings account: consider directing the excess funds to a vehicle that earns you more, like an investment account.
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