San Francisco, CA

The youngest billionaire in San Francisco

Ash Jurberg

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This week Forbes released its annual list of billionaires.

While the usual suspects of Elon Musk and Jeff Bezos topped the list, I always like to look for more interesting stories.

So today, I thought I would turn my attention to a young entrepreneur. And look at the story of the person who has the title of the youngest billionaire in San Francisco.

The youngest billionaire in San Francisco

Twenty-nine-year-old Stanley Tang has the title of the youngest billionaire in San Francisco. He has a net worth of $1.4 billion.

Tang was born in Hong Kong in 1992 and moved to the United States when he came to Stanford University to study Computer Science.

In 2012, while still at Stanford, he started building a mobile app for small business owners together with fellow students Tony Xu, Andy Fan, and Even Moore.

While getting feedback on the app, they saw there was a challenge for many stores to meet the demand for deliveries. And so, an idea was born.

In June 2013, the quartet launched DoorDash, a food delivery platform.

The business grew and was fuelled by increased demand during COVID, and so DoorDash went public in December 2020. When first listed, the 33 million shares were valued at $102, which valued the company at $38.2 billion.

Thanks to his 4% ownership in the company, Tang became a billionaire.

Philanthropy

One thing I like to look at when writing on the topic of billionaires is what they do to give back to the community.

In 2018, DoorDash launched Project DASH, an initiative focused on tackling the problems of hunger and food waste in the local communities they serve. So far they have DoorDash drivers "have delivered food bank and food pantry boxes, meals, school supplies, mental health kits, home essentials and more, totaling over 900,000 deliveries and more than 15 million meals connected to people in need around the country."

DoorDash also partnered with the National Urban League and pledged $200 million over five years to support restaurants during the pandemic.

Readers, what do you of Tang's story- from immigrant to billionaire before he turned 30?

Please leave your comments in the section below.

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