Dara Khosrowshahi Net Worth 2020, Biography, Career and Marital Life.
Dara Khosrowshahi Net Worth 2020– Khosrowshahi was born into a wealthy Muslim family and grew up in a mansion on the family compound. He is the youngest of the 3 children of Lili and Asghar (Gary) Khosrowshahi.
His family founded the Alborz Investment Company, a diversified conglomerate involved in pharmaceuticals, chemicals, food, distribution, packaging, trading, and services.
Khosrowshahi was born in Iran in 1969, but he emigrated to the U.S. as a child in 1978 following the Iranian Revolution.
His father was detained by Iranian authorities for six years after he returned to the country to look after his father when Khosrowshahi was aged 13. Khosrowshahi grew up in the New York State area with his mother and two brothers.
After graduating with an electrical engineering degree from Brown University, Khosrowshahi joined Allen and Co as an analyst in 1991.
His move into travel came when he joined USA Networks (now IAC) in 1998 and the company went on to acquire a majority stake in Expedia, then a subsidiary of Microsoft, in 2001 at a valuation of around $2 billion.
Khosrowshahi took the reigns of Expedia in 2005 when it was spun out from IAC, where he had previously led its travel business unit.
Under his leadership, Expedia has grown to a $23 billion giant with a presence across the world. Revenue has jumped from $2.1 billion in 2005 to $8.7 billion in 2016.
That development led to a bumper pay packet for the Expedia boss, who was the highest paid CEO in the S&P 500 two years ago when his salary came in at nearly $95 million thanks to stock incentives. His compensation returned to a more modest $2.5 million last year.
Deal-making has been a critical component to Expedia’s growth, with the company expanding its presence into new verticals and geographies through over 20 acquisitions and investments.
Besides its Expedia.com business, it owns a bunch of highly trafficked travel and rental sites that include Hotels.com, HomeAway, Travelocity, Orbitz, and Trivago.
Some of the major M&A that Khosrowshahi has presided over includes the acquisitions of HomeAway ($3.9 billion), Travelocity ($280 million) and Orbitz ($1.6 billion) in the past two years.
Interestingly, like Uber, Expedia has exited the Chinese market due to aggressive local competitors, too. It sold its stake in long-time partner eLong in 2015.
Speaking in 2016, Khosrowshahi acknowledged that Expedia had done ok in China in terms of business and revenue, but it opted to exit the market after the competition “became price destructive.”
Expedia is still active today since it targets outbound Chinese travelers, but Khosrowshahi said it no longer focuses on the domestic market because its rivals know that area far better.
Khosrowshahi has two children from his first marriage: a son, Alex and a daughter, Chloe. On December 12, 2012, Khosrowshahi married Sydney Shapiro, a former preschool teacher, and actress.
He praised his wife for wearing a Slayer t-shirt to the wedding, which was held in Las Vegas. The couple has twin sons, Hayes Epic and Hugo Gabri.
The twin boys both were born with Autism and Khosrowshahi and his wife spent years supporting their recovery through ABA.
Dara Khosrowshahi Net Worth
Dara Khosrowshahi is an Iranian-American businessman and CEO who has a net worth of $200 million dollars.