Skip To Content
JEWISH. INDEPENDENT. NONPROFIT.
Fast Forward

Tech Billionaire Evan Spiegel Parties On Yacht In Europe As Stock Hits Cold Snap

Evan Spiegel, the 27-year-old founder of Snapchat, is rubbing many of the company’s investors the wrong way, sailing on the Mediterranean Sea as the firm’s stock does a nose-dive.

“Where are the shareholders’ yachts?” a disgruntled shareholder in the company told the New York Post’s Page Six. “Evan is chilling on the coast while Snap burns under Facebook competition. He’s feasting on Italian delicacies while shareholders starve. ‘Let them eat losses!’”

Spiegel and wife Miranda Kerr are said to be boating in style from Greece to Italy – traveling on a yacht that rents up for almost $1 million each week. He and Kerr married in May at Spiegel’s posh mansion in Los Angeles’ Brentwood neighborhood, and this might be an extended honeymoon. The couple made news for remaining abstinent until their wedding.

Meanwhile, Snapchat is going down, down, down. Initially valued at $27 a share, it’s now sunk to $15 each. Spiegel has an estimated net worth of $3.6 billion.

Contact Daniel J. Solomon at [email protected] or on Twitter @DanielJSolomon

A message from our CEO & publisher Rachel Fishman Feddersen

I hope you appreciated this article. Before you go, I’d like to ask you to please support the Forward’s award-winning, nonprofit journalism during this critical time.

At a time when other newsrooms are closing or cutting back, the Forward has removed its paywall and invested additional resources to report on the ground from Israel and around the U.S. on the impact of the war, rising antisemitism and polarized discourse.

Readers like you make it all possible. Support our work by becoming a Forward Member and connect with our journalism and your community.

—  Rachel Fishman Feddersen, Publisher and CEO

Join our mission to tell the Jewish story fully and fairly.

Republish This Story

Please read before republishing

We’re happy to make this story available to republish for free, unless it originated with JTA, Haaretz or another publication (as indicated on the article) and as long as you follow our guidelines. You must credit the Forward, retain our pixel and preserve our canonical link in Google search.  See our full guidelines for more information, and this guide for detail about canonical URLs.

To republish, copy the HTML by clicking on the yellow button to the right; it includes our tracking pixel, all paragraph styles and hyperlinks, the author byline and credit to the Forward. It does not include images; to avoid copyright violations, you must add them manually, following our guidelines. Please email us at [email protected], subject line “republish,” with any questions or to let us know what stories you’re picking up.

We don't support Internet Explorer

Please use Chrome, Safari, Firefox, or Edge to view this site.