Andrew Mason Net Worth

Andrew Mason is an American businessman who has a net worth of $230 million. Andrew Mason acquired that net worth as a co-founder of daily-deal coupon firm Groupon. Mason was born in Mt. Lebanon, Pennsylvania and attended Northwestern University, receiving a Bachelor’s diploma in music. Prior to turning into a public firm, Groupon raised an estimated $950 million from enterprise capital companies. Out of that $950 million, $810 was paid out to early traders and excessive degree executives. At the time, Groupon’s co-founder and CEO Andrew Mason withdrew $30 million from the funding spherical. Angel investor Eric Lefkofsky took out $320 million. round this time Mason and Lefkofsky notoriously rejected a $6 billion buyout supply from Google. While many exterior traders had been skeptical of this transfer, the corporate’s Venture Capitalists set their sights on the anticipated November 2011 IPO. At the time of the IPO, Groupon shares debuted at $26 and Mason and Lefkofsky grew to become an immediate billionaires. Andrew Mason’s net worth quickly topped $1.four billion when the share worth peaked at $31.1. Eric Lefkofsky’s net worth peaked at $three.four billion. Unfortunately, within the 1.5 years that Groupon has been a public firm have been a catastrophe. The firm has skilled a number of accounting irregularities and a major drop in income. Groupon has misplaced round 80% of it is worth since going public. The worth of Andrew Mason’s 45,934,504 shares of GRPN have plummeted from an all time excessive of $1.2 billion to $230 million at this time. That’s a $1 billion drop in net worth! On February 27th, 2013, Andrew Mason was fired from Groupon.

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