Anne Wojcicki & Sergey Brin Net Worth Difference
Wojcicki is the co-founder and CEO of 23andMe, a groundbreaking direct-to-consumer DNA testing company headquartered in Sunnyvale, California.
23andMe went public in a SPAC sponsored by U.K. billionaire Richard Branson's Virgin Group in June 2021. Wojcicki, a former Wall Street analyst, co-founded 23andMe in 2006 alongside cofounders Linda Avey and Paul Cusenza.
At 47, 23andMe’s Anne Wojcicki is now the newest self-made billionaire after going public today via a merger SPAC with Sir Richard Branson.— The Hustle (@TheHustle) June 18, 2021
Her net worth was $500M last year, and it climbed to $1.3B today after going public. pic.twitter.com/boN7sTfXDM
In July 2018, GSK, previously GlaxoSmithKline, invested $300 million in 23andMe. A medication developed in collaboration with GSK began human trials in July 2020.
Instead of a standard IPO, 23andMe said in February that the company will merge with VG Acquisition Co. to go public.
Wojcicki ended up with over 99 million publicly listed shares for $13.32 apiece at the end of their first day of trading, placing her position at more than $1.3 billion.
In January 2020, 23andMe licensed an antibody produced by the company to Barcelona-based Almirall. Furthermore, Anne is the younger sister of YouTube CEO Susan Wojcicki. Janet Wojcicki, her other sister, works as an epidemiologist at UCSF.
The number of firms going public through SPACs, commonly known as "blank-check companies," increased dramatically in 2020 as a low-risk option for SPAC sponsors to profit.
Forbes reported, "SPAC Analytics mentioned 343 firms had gone public via SPAC by 2021, raising a total of $107 billion. Clover Health, Hims, and Sharecare are among the other health-related firms taking advantage of SPAC arrangements in 2021."
Wojcicki became an on-paper billionaire earlier this year when her DNA testing business, 23andMe, went public in a SPAC worth $3.5 billion.
Wojcicki has invested in 14 firms with at least one female founder, according to a Fortune (out of 29 overall investments). That is by far the most gender-diverse track record of all the founders whose firms went public or sold this year in deals worth $1 billion or more.
As well as those who have made public investments in other startups. According to Crunchbase, no one male founder in this group has invested in as many female-founded firms as Wojcicki.
However, the company's revenues have dropped in recent years, and it is now drowning in red ink, says Forbes. In the nine months from March 2020 to December 2020, it lost roughly $117 million on revenues of $155 million.
Prior to that, revenue fell 30% to $305 million in the fiscal year ending March 2020, down from $441 million the previous year, according to corporate filings. Before the pandemic, 23andMe lay off 100 people, or 14% of its workforce, in January 2020.
Her ex-husband, Sergey Brin, on the other hand, co-founded Google with Larry Page in 1998 after meeting at Stanford University. they were studying for additional degrees in computer science.
Brin is a co-founder of Alphabet, which controls Google, the world's largest search-engine operator. The Mountain View, California-based firm was founded in 1998. In 2021, its revenue was $258 billion.
He resigned as president of Alphabet, Google's parent company, in December 2019, but he remains a controlling shareholder and board member.