Welcome To The Billionaire’s Club: 9 Entrepreneurs Who Know What It Means To Be Rolling In The Dough
Founder and CEO of GoPro, Woodman’s company is among the world’s fastest growing video camera company. GoPro is a favorite among extreme sports enthusiasts because the cameras are built to handle rugged conditions. The inspiration behind GoPro formed while Woodman was capturing footage of his own surfing activities. Seeing that photographers couldn’t snap quality action photos because they were either too far from the action or didn’t have access to quality equipment, he set about developing a solution. The original cameras were point-and-shoot 35mm film cameras which mounted to the user’s wrist, however, GoPro has now evolved into a compact digital camera that supports WiFi, can be remotely controlled, is waterproof, and records to a micro SD card. When Taiwan-based electronics manufacturer, Foxconn, bought an 8.88 percent stake in GoPro, the company was valued at $2.25 billion turning CEO Woodman into a billionaire. His net worth is $1.3 billion.