Monday, May 30, 2011

The world's richest dinner party

Between us, we're worth $1 trillion: The world's richest dinner party

The heads of Apple, Google, Yahoo!, Facebook, Twitter - oh, and the U.S. President, too. Has there ever been a more powerful power lunch? And who got the bill? 


From left-to-right (clockwise): Eric Schmidt, Arthur D Levinson, John T Chambers, John Doerr, Larry Ellison, Reed Hastings, John L Hennessy, Carol Bartz, Dick Costolo, Mark Zuckerberg, Barack Obama, Steve Jobs, Steve Westly, Ann Doerr


Who would you invite to your fantasy dinner party?
It's difficult to imagine a wealthier set of guests than those invited to the home of Silicon Valley venture capitalist John Doerr earlier this year, in the mega-wealthy enclave of Woodside, California.



 Together they represent companies worth nearly $1 trillion.By all accounts, Obama didn't have an easy ride - many of the diners are generous political donors and the President was criticised for slow progress on policy promises.


 The dinner lasted two hours, and is expected to be the first in a series that Obama holds with Silicon Valley's leaders.

So what was on the menu? Chef Yigit Pura would only reveal that Obama said, 'Banana cream pie was solid,' as he kissed his fingers.


Perhaps the biggest surprise of the evening was Mark Zuckerberg's decision to ditch his hoodie for more formal attire - normally, the only suits he's acquainted with are of the legal variety...





ERIC SCHMIDT
TITLE-Chairman, Google 
WORTH- $7 billion 
Google market valuation $171.8 billion
In his ten-year tenure, Schmidt oversaw Google's transformation into the global internet giant that it is today. He stepped down as CEO last month and is now a member of the President's Council of Advisors on Science and Technology.

ARTHUR D LEVINSON
Title Chairman, Genentech
Worth Earned $850,000 in 2010 
Genentech market valuation $46.8bn 
Founded in 1976, Genentech (now owned by Roche) pioneered using human genetic information to develop medicines, including cancer treatments. Levinson stepped down as CEO in 2009, and now sits on Apple's board of directors.

JOHN T CHAMBERS 
Title CEO, Cisco Systems 
Worth $1 billion 
Cisco market valuation $96 billion Chambers raises his glass extra-high to Obama, showing that there are no hard feelings on the part of this co-chair of John McCain's 2008 presidential bid. He earns his seat as chairman of Cisco, the dotcom boom's most valuable company.

JOHN DOERR
Title Partner, Kleiner Perkins Caufield & Byers 
Worth $2.2 billion 
The host for the evening, Doerr is a tech investor with a knack for backing a winning idea. Back in 1999, KPCB led a $25 million investment in upstart Google. KPCB has participated in over $2.3 billion of investments since May 2010.

LARRY ELLISON
Title CEO, Oracle 
Worth $39.5 billion 
Oracle market valuation $177.6 billion 
Currently the fifth wealthiest human being on the planet, Ellison co-founded Oracle in 1977. In true billionaire fashion, he splashed out over $100 million to ensure that his BMW Oracle sailing team won the America's Cup last year. 

REED HASTINGS 
Title Co-founder and CEO, Netflix
Worth Earned $5.5 million in 2010 
Netflix market valuation $12 billion
In 1997 Hastings co-founded Netflix, an online subscription service for movies and TV which now has over 20 million members across North America. He once taught maths in Swaziland during a two-year stint in the US Peace Corps. 

JOHN L HENNESSY
Title President, Stanford University 
Worth $31.4 million 
Stanford endowment $15.9 billion 
Located in the heart of Silicon Valley, Stanford has a long association with the area's tech companies, many of whose founders - including those of Google, Cisco Systems, Hewlett-Packard and Yahoo! - passed through the university.

CAROL BARTZ 
Title CEO, Yahoo! 
Worth Earned $47.2 million in 2009 
Yahoo! market valuation $23.7 billion 
Bartz, who joined Yahoo! in 2009, holds the honour of having topped a 2010 list of executives paid too much for running underperforming companies. Although Yahoo! remains a global internet brand, it's still considered to be in decline.

DICK COSTOLO 
Title CEO, Twitter 
[/B]Worth[/B] $120 million 
Twitter market valuation $3.7 billion 
A computer science graduate and former improvisational comedian, Costolo sold FeedBurner - a provider of management tools for website owners - to Google in 2007 for a rumoured $100 million. Last year he took over as CEO of Twitter. 

MARK ZUCKERBERG 
Title CEO, Facebook 
Worth $13.5 billion 
Facebook market valuation $50 billion 
The Social Network's complex antihero, Zuckerberg is 'trying to make the world a more open place by helping people connect and share', according to his own Facebook profile. Luckily for him, he's becoming filthy rich in the process. 


STEVE WESTLY
Title Managing partner and founder, The Westly Group 
Worth $500 million 
A Democratic Party supporter, venture capitalist Westly served as a California co-chair for Obama's 2008 presidential election campaign. The Westly Group has participated in over $178 million of investments since April 2010.




BARACK OBAMA 
Title President, USA 
Worth $10.5 million 
USA $14.7 trillion (GDP) 
Obama is noted for his love of technology: he embraced social media in his election campaign, and was reportedly gifted an iPad 2 a month before they went on sale. His aide Valerie Jarrett also attended the dinner (seated to Zuckerberg's right). 

ANN DOERR 
Title Philanthropist 
The hostess, as the wife of John Doerr, is no stranger to technology herself, holding bachelor's and master's degrees in electrical engineering. An environmental activist and trustee of the New York-based Environmental Defense Fund, she works alongside her husband in his philanthropic endeavours. 


STEVE JOBS 
Title Co-founder and CEO, Apple 
Worth $8.3 billion
Apple market valuation $323.3 billion 
Jobs has transformed the tech industry several times. After his pioneering early years at Apple, he left the firm to set up NeXT (which created the machine on which the Web was developed), before returning to spearhead the 'iRevolution'

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