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Grizzly Bulls’ Billionaires Index

⬅ # 299 Nicky Oppenheimer|# 301 Leonard Stern ➡

# 300 Tobi Lütke 

$9.24B

Real Time Net Worth
as of 11/21/2024
$40.1M (0.43%)

# 300 Tobi Lütke 

$9.24B

Real Time Net Worth
as of 11/21/2024
$40.1M (0.43%)
OccupationCofounder and CEO, Shopify
Source of WealthE-Commerce
Age44
ResidenceOttawa, Canada
Marital StatusMarried
Children3
Age-Adjusted Net Worth$27.3B
Tobi Lütke
Tobi Lütke
Canada
Net worth: $9.24B

Self-Made Score 

Luminox Men's Sea Sport Timer Automatic 0920 Series Watch

Wealth History

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Biography

Early Life

Tobias Lütke, also known as Tobi Lütke, was born in Koblenz, Germany in 1981.
He received a Schneider CPC, a German brand of the Amstrad Colour Personal Computer, from his parents at the age of six.
By the age of 11 or 12, Lütke began rewriting code for games and modifying computer hardware as a hobby.
Lütke dropped out of school after the tenth grade to pursue a computer programming apprenticeship at the Koblenzer Carl-Benz-School in Germany.
In 2002, Lütke moved from Germany to Canada.
He cites John Carmack's .plan-files from the mid-1990s as a significant influence on his teenage years, considering them a 'master class in systems design.'

Career

In 2004, Lütke co-launched Snowdevil, an online snowboard shop, with partners Daniel Weinand and Scott Lake.
Using his programming skills, Lütke built a new e-commerce platform for Snowdevil using Ruby on Rails.
The focus shifted from snowboards to e-commerce, leading to the launch of Shopify in 2006.
Lütke currently owns approximately 7% of Shopify, which went public in 2015.
He controls a 40% voting interest in Shopify due to a two-class voting structure.
Lütke was named "CEO of the Year" by The Globe and Mail in November 2014 and received the Meritorious Service Cross in 2018 for his contributions to the Canadian technology industry.

Shopify's Growth and Achievements

Shopify, founded in 2006, is headquartered in Ottawa, Ontario, Canada, and is a multinational e-commerce company.
The Shopify platform serves over 2 million businesses in approximately 175 countries.
In 2021, Shopify reported sales of $4.6 billion.
Shopify's total gross merchandise volume exceeded US$197 billion for calendar 2022.
As of 2024, an estimated 20% to 32% of all eCommerce websites worldwide use Shopify.
Shopify went public in 2015, with shares trading on the New York Stock Exchange under the symbol "SHOP."

Esports

In 2021, Shopify formed an esports organization called Shopify Rebellion and assembled a professional StarCraft II team.
Shopify Rebellion later purchased Team SoloMid's spot in the LCS in September 2023.

Philanthropy and Investments

In 2019, Lütke made a $1,000,001 donation to Team Trees and a $1,200,001 donation to Team Seas in 2021.
He invested $3 million in Creative Layer, a print-on-demand platform, in September 2021.
Lütke joined the board of directors of cryptocurrency exchange Coinbase in January 2022.
On April 12, 2022, Lütke participated in a $925 million commitment for carbon dioxide removal technology with several other companies including Alphabet Inc. and Meta Platforms.

Tobi Lütke's Wealth is Equivalent to:

7,110,855 Herman Miller Aeron Chairs

Herman Miller Aeron Chair

1,747,777 Gold Bars (50 gram)

24K Solid 50g Gold Ingot

94,404 Tiny Homes

Tiny House, Two Bedroom Solar Prefab Home

How long would it take you to become as rich as Tobi Lütke?

If you started with $10,000 and invested an additional $500 each month at a 43.43% CAGR, it would take you 5 years to reach Tobi Lütke's net worth of $9.24B.

Is this realistic? It depends how closely the VIX-TA-Macro Advanced model performs to its history in the future. Since Grizzly Bulls launched on January 1, 2022, it's returned 58.67% compared to 23.91% for the S&P 500 benchmark.

Enter data in all but one field below, then calculate the missing value

Tobi Lütke is very wealthy, but what's stopping you from reaching that same level of success? As summarized in our five fundamental rules to wealth building, becoming wealthy in a modern capitalist economy is not complicated. There's actually only three variables:

  1. Your starting capital
  2. Your earnings after expenses
  3. The compound annual growth rate (CAGR) of your savings

Most people start with zero or very little, so if you weren't born into wealth, don't fret! The majority of the fortunate folks listed in our Grizzly Bulls’ Billionaires Index came from middle class or lower backgrounds. The most distinguishing characteristic of the group is their ability to consistently earn a high CAGR on their savings.

Every billionaire has a unique strategy to achieve high CAGR. For Tobi Lütke, E-Commerce is the primary source. Whether you choose to invest your savings in your own businesses or the businesses of others is not as important. The salient piece of the puzzle is ensuring that your hard-earned savings are generating sufficient CAGR to reach your long term goals.

Most people simply invest their money in index funds and call it a day. There's nothing wrong with this approach, but it guarantees relative mediocrity. To achieve greatness, you need to invest your money to earn higher than average returns. In the long run, better investors will always finish ahead of better earners.

Source: Grizzly Bulls reporting

Methodology: Grizzly Bulls' Billionaires Index is a daily ranking of the world's billionaires and richest people. Grizzly Bulls strives to provide the most accurate net worth calculations available. We pull data from public equity markets, SEC filings, public real estate records, and other reputable sources.

The index is dynamic and updates daily at the close of U.S. stock market trading based on changes in the markets, economy, and updates to Grizzly Bulls' proprietary algorithm of personal wealth calculation. Stakes in public companies are tracked daily based on the relevant closing prices of the underlying securities. Additionally, stakes in private companies, cash, real estate, and other less easily valued assets are updated periodically through careful analysis of insider transactions, comparable public company sales / EBITDA multiples, etc.

Affiliate Disclosure: Some of the links on this page are affiliate links. This means that, at no additional cost to you, we may earn a commission if you click through and make a purchase. We only recommend products or services we believe will add value to our readers.

Edited by: Lee Bailey