Adam Foroughi is an Iranian-born American billionaire businessman and the chief executive officer (CEO) of AppLovin, a mobile technology company.
Adam Foroughi | |
|---|---|
| Born | |
| Nationality | American |
| Occupation | Businessman |
| Title | CEO of AppLovin |
| Term | December 2011–present |
Early life and education
editBorn in 1980, Foroughi's family emigrated to the United States to escape the destruction caused by Iraq-Iran War.[1] Adam grew up in Los Angeles, California, where his father had a successful construction company. He studied at the University of California, Berkeley, earning a B.A. in economics.[1]
Career
editUpon graduating from Berkeley, Foroughi worked as a derivatives trader. Later, he founded two marketing companies before starting AppLovin.[1]
In 2012, Foroughi co-founded AppLovin along with friends John Krystynak and Andrew Karam.[2][3]
On April 15, 2021, AppLovin became a public company after an initial public offering (IPO), with a total valuation of approximately $24 billion.[4] As a result of AppLovin's successful IPO, Foroughi's net worth rose to an estimated $2 billion.[5]
In 2023, Foroughi's total compensation from AppLovin was $83.4 million, up 79,783% from the previous year and representing a CEO-to-median worker pay ratio of 795-to-1 for the company, as well as making Foroughi the eighth highest paid CEO in the US that year.[6]
Personal life
editAdam is married and has 5 children.
References
edit- ^ a b c "Adam Foroughi". Forbes.
- ^ "AppLovin". Forbes. Retrieved October 16, 2016.
- ^ Ha, Anthony (July 31, 2014). "Mobile Ad Startup AppLovin Says It Has Reached A $100M Revenue Run Rate". TechCrunch. Retrieved September 26, 2016.
- ^ "Mobile gaming company AppLovin starts trading at $70, giving it a market cap of about $24 billion". CNBC. April 15, 2021. Retrieved April 15, 2021.
- ^ Tucker, Hank. "AppLovin IPO Makes Cofounder Adam Foroughi A Billionaire With $2 Billion Stake". Forbes. Retrieved July 4, 2021.
- ^ Paradis, Tim (June 18, 2024). "Here are the highest-paid CEOs in the US, some of whom have 9-figure compensation packages". Business Insider. Archived from the original on August 28, 2024. Retrieved August 31, 2024.
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