THE MONEY: Co-founded Utah-based software company Qualtrics in 2002 with his brother Ryan Smith and father Scott Smith. Three days before its scheduled IPO in early 2019, Qualtrics was acquired by German software firm SAP for $8B in cash. Jared owned 14% of the company at the time of the sale. The company was sold again in 2023, for $12.5B, to Silver Lake Management and the Canada Pension Plan Investment Board.
EDUCATION: Earned Bachelor of Science degree from London School of Economics. Brother Ryan bought NBA’s Utah Jazz and NHL’s Utah Mammoth and once served as co-owner of MLS’ Real Salt Lake.
LOCAL INVESTMENT: In 2021, was cited as being an investor in Costa Mesa soccer-focused tech, entertainment and training site TOCA Football, when it raised $40M in Series E funding.
WEEKEND WEALTHY: Paid a reported $35M in cash for newly built waterfront Newport Beach mansion in 2019, among the most expensive residential home sales in Orange County history at the time. The 12,710-square-foot Newport Beach estate sits on three lots five bedrooms and a private dock that can accommodate several boats.
IN HIS WORDS: “The benefit of being brothers is since we were little kids we could beat on each other and have the hardest arguments, then still be buddies 10 minutes later.” —startupgrind.com
