The Rise and Wealth of Michael Arrington – How He Built A Net Worth Of Millions
Michael Arrington has become a household name in Silicon Valley and beyond. He is widely known for creating and publishing the renowned TechCrunch, which has turned out to be a significant platform for computer-based innovations. With a net worth well over millions of dollars, Michael Arrington’s success story is one worth sharing.
The Early Life of the Tech Giant
Michael was born in Orange, California, in 1970. He grew up in Huntington Beach, California. Michael attended the University of California, Berkeley, where he studied economics. Before TechCrunch, Michael’s career began in law, and he worked in the law field for several years.
The Evolution of TechCrunch
In 2006, Michael founded TechCrunch, which started as a blog covering technology startups and has developed into a reliable and well-known source for tech news and reviews. Michael and his team thoughtfully covered information about emerging web and other technologies, which helped them create a significant impact on the tech industry.
The Venture Capitalist Turned Entrepreneur
After years of covering startups, Michael decided to become a venture capitalist. As part of his venture capitalist creation, Michael Arrington started the CrunchFund, aimed at supporting impactful technology and emerging startups at different stages of their business ventures.
The Anatomy of CrunchFund
CrunchFund, founded in 2011, targets seed-stage startups and established firms. The structure of the venture capitalist fund creates a partnership between investors and beginning stage companies. The goal is for start-up seeds to build investor reliance and successful start-up investments.
Noteworthy Investments by CrunchFund
CrunchFund has made several investments in tech firms; noticeably, it invested $1.5 million in Airbnb, a booking service firm for vacation rentals, and $2.5 million investment in personalized news website Prismatic.
Arrington’s Successful Exit from TechCrunch
In 2011, AOL, a media firm with a digital marketing presence, acquired TechCrunch for a reported sum of $25 million. On September 2011, Michael stepped down from operating TechCrunch to give attention to opportunities that present.
Present Day Investments
Michael has leveraged his resources, expertise, and gained experience to invest in many successful startups since his departure from TechCrunch. An example of his investments includes a considerable stake in the esports company Skillz and also serves as a board member and advisor to several startups.
Education Advocacy Ventures
In 2019, Michael founded an education technology firm known as Wonderschool. The California-based start-up aims to incentivize and guide those who wish to start their childcare start-ups to address some of the hurdles would-be entrepreneurs commonly face when starting.
Michael Arrington’s Net Worth
According to various wealth publications, Michael Arrington’s net worth is estimated to be $55 million. The tech giant’s meteoric rise and investment portfolio have helped him accrue a considerable fortune.
Conclusion
Michael Arrington has made massive contributions to the tech industry through his groundbreaking work, investment and advisory positions in startups; his exit from TechCrunch’s day-to-day operations did not slow him as he has since been invested in many impactful businesses. He also has a passion for education, which has been demonstrated by his founding of the education start-up Wonderschool.
5 FAQs on Michael Arrington and his Wealth
1. What is Michael Arrington’s net worth?
Michael Arrington’s net worth is approximately $55 million.
2. What notable investments has CrunchFund made?
CrunchFund has made significant investments in Prismatic and Airbnb.
3. Where did Michael Arrington grow up?
Michael Arrington grew up in Huntington Beach, California.
4. When did TechCrunch sell to AOL?
TechCrunch was acquired by AOL in 2011 for a reported sum of $25 million.
5. What is Wonderschool?
Wonderschool is an education technology start-up founded by Michael Arrington to incentivize and guide those want to start their childcare start-ups.