When it comes to pioneers in the software industry, one name that immediately comes to mind is Thomas Siebel. The mastermind behind Siebel Systems and C3.ai, his success story is remarkable, but have you ever wondered about the financial reality behind this illustrious career?
Prepare to dive into an engaging analysis of Thomas Siebel net worth as of 2023 that’ll surely pique your curiosity and draw you into the article below.
Contents
What is Thomas Siebel Net Worth and Salary in 2023?
| Information | Details |
| Gender | Male |
| Birth Date | November 20, 1952 |
| Age | 70 years old |
| Birth Place | Chicago, Illinois, USA |
| Nationality | American |
| Net Worth | $3.9 billion |
| Source of Wealth | Founder of Siebel Systems, business investments |
| Height | Not available |
According to Forbes, Thomas M. Siebel’s net worth is estimated at least $3.9 billion as of 2023. This wealth is largely attributed to his ownership of over 53,125 units of C3.ai Inc.
However, another source estimates his net worth around $826.26 million, considering his ownership of about 4,733,939 units of C3.ai, Inc. common stock.
In terms of his salary, Mr. Siebel receives a modest base salary of $5,646 as the CEO & Chairman of C3.ai Inc. However, his total compensation package is significantly larger, with him receiving approximately $29,797,431 in 2021, primarily from option awards.
Why is Thomas Siebel Famous?
When we talk about pioneers in the software industry, Thomas Siebel undoubtedly holds a top spot. His entrepreneurial journey is a narrative of ambition, innovation, and steadfast dedication to enhancing how we interact with technology.
Siebel’s claim to fame began with his eponymous company, Siebel Systems. In simpler terms, they created software that helps companies keep track of and improve their customer relationships. Siebel Systems was a game-changer, quickly becoming a leader in its field.
Thomas Siebel’s Overview
Early Life
Thomas Siebel was born on November 20, 1952, in Chicago, Illinois, as one of seven children in an upper-middle-class family. His father, Arthur Francis Siebel, was a Harvard-educated lawyer, and his mother, Ruth A. Siebel, was a homemaker.
Raised in the Lutheran faith, Siebel spent his early years in Wilmette, Illinois, a suburb on Chicago’s north shore.
He was sent to Shattuck Military Academy in Fairbaut, Minnesota at the age of 15, where he learned to appreciate self-dependence despite the strict regulations of the school.
After high school, Siebel attended the University of Illinois at Urbana-Champaign, where he earned a B.A. in history, an M.B.A., and an M.S. in computer science.
After graduation, he briefly worked as a ranch hand in Idaho before returning to Chicago to work for a trade book publisher.
His fascination with computing led him back to the University of Illinois, where he earned two more degrees—an MBA and a master’s degree in computer science—in 1983.
Career
His professional journey began at Oracle Corporation, where he served as an executive from 1984 to 1990.
While he worked at Oracle, he held different leadership roles and suggested making special software for businesses to help with marketing, sales, and customer service tasks.
However, when Oracle management declined his proposal, Siebel left the company to pursue this opportunity independently.
In 1991, Siebel became the chief executive officer of Gain Technology, a multimedia software company that merged with Sybase in December 1992.
His drive to start businesses made him create Siebel Systems in 1993. This software company, or CRM, mainly works on designing, building, selling, and helping with applications for managing customer relationships.
Under his leadership as founder, chairman, and CEO, Siebel Systems grew exponentially, becoming the fastest-growing technology company in the United States in 1999.
By 2006, the company had over 8,000 employees in 32 countries, over 4,500 corporate customers, and annual revenue exceeding $2 billion.
In January 2006, Siebel Systems merged with Oracle Corporation, marking a significant milestone in Siebel’s career.
After selling Siebel Systems to Oracle for nearly $6 billion, Siebel embarked on a new venture in 2009. He founded C3.ai, a provider of AI solutions to businesses riding the wave of artificial intelligence.
C3.ai specializes in large-scale artificial intelligence and offers an enterprise AI software product that uses machine learning and neural networks to solve complex analytical problems in commerce, industry, and government.
As of 2023, Siebel continues to serve as the founder, chairman, and CEO of C3.ai. The company made it to the 2019 CNBC Disruptor 50 list with a valuation of $2.1 billion.
Siebel started a project through his company, C3.ai, to use artificial intelligence (AI) to combat COVID-19.
The company’s leaders, such as Siebel and Patricia House, include well-known figures like Condoleezza Rice, a former Secretary of State, and General John Hyten, who was once the vice chairman of the Joint Chiefs of Staff.
Personal Life
Thomas Siebel is married to Stacey Siebel. The couple lives in Woodside, California, with their four children. Like her husband, Stacey Siebel has a tech industry background, previously working as a sales representative at Oracle.
Philanthropy
In 1996, he set up the Siebel Foundation to help in several areas. These include allowing the homeless and poor communities, supporting education and research, preventing methamphetamine misuse, and promoting solutions for alternative energy.
Siebel’s approach to philanthropy is unique and transformative, often called catalytic philanthropy. This approach goes beyond writing checks and aims to create lasting social change.
One of his notable initiatives was the Montana Meth Project, launched in 2005, to combat the rampant methamphetamine abuse in rural America. His foundation has granted more than $250 million to hundreds of nonprofits since its inception.
FAQs about Thomas Siebel
How old is Thomas Siebel?
Thomas Siebel age is 70 years old.
How tall is Thomas Siebel?
Thomas Siebel height is unknown.
Why is C3 AI stock so low?
C3.ai Inc.’s stock fell by 20% after the company forecasted yearly revenue below what analysts had predicted. This has raised doubts among investors, as the company’s performance doesn’t match the excitement that has tripled its stock price this year.
Is C3.ai a good buy now?
C3.ai has yet to make a profit. The company spent $73.3 million in the fourth quarter but only earned $72.4 million, showing that its expenses exceeded its income.
The situation worsened in the fiscal year 2023, with C3.ai losing $290 million while making only $267 million in sales.
Conclusion
Through this brief exploration of Thomas Siebel’s journey, we’ve discovered a man who’s more than just a successful tech entrepreneur. He has made a lasting impact on the way businesses operate as a visionary.
Want to learn more about influential figures like Siebel? Here at Hereofamily, we dive into the stories of the game-changers and innovators shaping our world.
