Logan Green's Net Worth Skyrocketed After Co-founding Lyft — What's Next for Him?
Logan Green, Lyft's co-founder and CEO, is stepping down from day-to-day responsibilities to become chair of the board. What's his net worth?
American entrepreneur and businessman Logan Green is the cofounder and CEO of ride-sharing app Lyft. On March 27, 2023, the company announced that Green and Lyft company president, John Zimmer, will be stepping down from their day-to-day responsibilities to become chair of the board.
And while Green built himself quite a fortune from the rideshare company he helped found in 2012, Lyft was hit hard by the COVID-19 pandemic and had a hard time recovering from the losses.
Here's what we know about Logan Green's net worth.
Cofounder and CEO of Lyft
Net worth: $750 million (estimated and unconfirmed)
Logan Green is an American cofounder and CEO of Lyft, which he founded with John Zimmer in 2012. The company started as Zimride in 2007, a rideshare service offered at colleges around the country. Zimmer reportedly didn't take a salary for the first three years he and Green were in business. In 2023, Lyft is worth over $3.55 billion.
Birthdate: Feb. 2, 1984
Birthplace: Los Angeles, Calif.
Spouse: Eva Green (married in 2011)
What is Logan Green's net worth?
As of February 22, 2023, Green is estimated to have a net worth over $70.03 million (estimated) and owns about 246,896 shares of Lyft stock. In the last few years, he has sold an estimated $123.87 million worth of stock. He also owns approximately 25,874 shares of eBay stock as of Oct. 13, 2021, with a value of $1 million and a weighting of 31.74 percent.
As of 2021, Green received $450,000 as a base salary, (estimated) $32,712 was received as a bonus, $0 was received in stock options, $13,400,182 was awarded as stock and $26,588 came from other types of compensation. For privacy reasons, information on Green's residential housing isn't available.
Lyft is worth has a market cap or net worth of $3.55 billion as of March 28, 2023, which has decreased by 73.50 percent in one year.
Logan Green's early life influenced his desire to start Lyft.
After growing up in Southern California where he spent most of his life stuck in traffic, it was only natural for Green to become fascinated by innovation in transportation. He attended the New Roads High School in Santa Monica, Calif. and graduated from the University of California, Santa Barbara where he built to first car-sharing program from scratch and got the attention of the local transit board who brought him onboard.
The concept for Lyft was born out of Zimride.
The idea for Zimride (and Lyft), struck while Green was studying in Zimbabwe during college and became inspired by the carpooling system used by the locals. With the goal of creating a more sustainable, social, and affordable transportation system, he developed a platform that would allow users to find and plan carpooling on various college campuses. He named it Zimride in honor of Zimbabwe's carpooling system.
Green and Zimmer were introduced in 2007 via a Facebook post where Green announced details of Zimride and they bonded over their common passion of improving transportation with technology. The first Zimride service was launched at Cornell University in 2007, and a second location at the University of California Santa Barbara was started a few months later.
Green and Zimmer quit their day jobs and moved to Silicon Valley to work on the company, and they didn't take a salary for the first three years.
In 2012, Green and Zimmer shifted the company's focus to their bigger mission of providing an alternative to car ownership. That year, the company launched Lyft, a smartphone app where people could request rides of any length whenever they needed one.
Green and Zimmer took Lyft public in 2019, but since its IPO the stock dropped drastically with it hitting a record low of $9.60 on March 27, 2023.