The rich are not getting richer.
Earlier this year, Forbes announced its annual list of Forbes 400, which ranks the richest Americans by their net worths. The 400 richest Americans saw their combined wealth decrease by $500 billion from last year to $4 trillion.
Today, I will uncover the richest person in Park City, Utah.
According to Forbes Magazine, only one billionaire on the Forbes 400 considers Utah home. However, there are more billionaires who live in Utah but lost their place on the list. For example, Matthew Prince. His net worth exceeds $1.8 billion, making him the 951st richest individual in the country. However, Prince had a bad year and lost more than $2.9 billion in less than 12 months.
Who is Matthew Prince?
Matthew Prince is an entrepreneur, former ski instructor, recovering lawyer, co-founder, and CEO of Cloudflare. Cloudflare is a web infrastructure and website security company that wants to help build a better Internet. Its headquarters are in San Francisco.
Mathew Prince is a man of diverse interests.
He started his career as a ski instructor before working as an adjunct law professor at John Marshall Law School. Then, in 2001, he founded Unspam, which ignited his passion for protecting users online.
He started to track spammers and evolved to stop them.
In 2004, Mathew Prince and Lee Holloway wanted to answer a simple question, "Where does email spam come from?" So, they created Project Honey Pot which allowed anyone with a website to track how spammers harvest people's emails.
In 2007, Mathew Prince took a sabbatical to earn his MBA from Harvard Business School. In one of his classes, he met Michelle Zatlyn, who later became Cloudflare's, Chief Operating Officer. During one of their conversations, Michelle Zatlyn convinced Prince to work together to expand Project Honey Pot from tracking internet threats to stopping them.
A Few months later, Mathew Prince, Lee Holloway, and Michelle Zatlyn created Cloudflare. Today, the company serves data from 250 cities in over 100 countries worldwide. According to Forbes, Prince owns 13% of the company, making him one of the wealthiest people in the country.
If you had his money, what causes would you support?