SAP Fortune makers

Jared smith
President
Qualtrics

THE MONEY: Co-founded Provo, Utah-based cloud computing company Qualtrics in 2002 with his brother, Ryan, and father, Scott; Ryan was the CEO. Days before its scheduled IPO in early 2019, Qualtrics was acquired by German software firm SAP for $8 billion in cash. Jared and Ryan still run Qualtrics as a unit inside SAP, according to Forbes, which estimates Jared’s fortune as a result of the sale at $1.3 billion.

WEEKEND WEALTHY: Paid a reported $35 million, in cash, for newly built, waterfront Newport Beach mansion last year, among the most expensive residential home sale in Orange County history. The 12,710-square-foot Newport Harbor estate sits on three lots with 90 feet of frontage and a private dock that can accommodate several boats. Sold by area real estate exec Craig Atkins of City Ventures. The home got attention through its use in “Teach Me How to Duffy” parody video. Tim Smith of Coldwell Banker Residential Brokerage was the listing agent. Tara Foster Shapiro of Pacific Sotheby’s International Realty represented the buyer.

+8%
• NET WORTH: $1.3 billion (Forbes)
• LAST YEAR: $1.2 billion
• SOURCE OF WEALTH: Qualtrics sale