Chief Executive Officer of Technology Company Becomes Self Made Billionaire
- Jacqueline Reses, a renowned leader in the technology space, is among the newest self-made billionaires in the United States
- The increase in her wealth comes as shares in Square, the financial services firm where she was an executive for five years, continued to soar this month
- The corporate boff, who notably served as a chief development officer at Yahoo in 2012, serves on the Board of Directors at several major American companies
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Jacqueline Reses is among the newest self-made billionaires in the United States after a rise in shareholder value ensured that her net worth crossed the magical mark for the first time.
The renowned leader in the technology space, saw shares in Square, the financial services firm where she was an executive for five years, continue to soar this month.
Source: UGC
Only earlier in August, Reses ranked in 30th position of the Richest Self-Made Women in America, according to the business magazine Forbes, with an estimated net worth of $920 million.
Business Wire recently reported that Reses was appointed to the Board of Directors of Endeavor, a global entertainment, sports and content company.
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A 0.4 per cent stake in Square, plus additional stock options leveraged, Reses' upward move after the stock closed 22 times higher than the $12 a share at which it debuted six years ago on the NY Stock Exchange.
Extensive public company board experience
Reses left Square in October 2020 after serving in various executive roles, including serving as the head of Square Capital, the financial services company’s micro business loan division.
The corporate boff, who in 1992 graduated from the University of Pennsylvania, credited her experience of working behind the counter at her father’s pharmacy in her first job decades earlier, for her interest in small business.
As it began taking a life of its own, her business acumen landed her at the multinational investment bank Goldman Sachs, where she worked on mergers and acquisitions.
Reses quickly climbed the ladder at the firm and, after rising to the vice president position, took on a new chapter, becoming the CEO of iBuilding, a software company that catered to the real estate sector.
Leading the way as a formidable chief executive
After iBuilding was bought in 2001, she spent the next decade at Apax Partners, a private equity firm, during which time she became a partner.
She then joined Yahoo in 2012, where she notably served as a chief development officer. Two years later, and Reses was at the helm at Square Capital, formed in 2014.
Today, the avid art collector currently serves as the Chief Executive Officer of Post House Capital LLC, a private investment firm focused on consumer and financial technology (fintech).
She serves on the board of digital bank Nubank, the buy-now-pay-later company Affirm and Bill Ackman’s Pershing Square Tontine Holdings. In May, she was appointed executive chairman of the e-commerce marketplace, Wish.
Self-made billionaires and their secrets to how they made money
In related news, it was previously reported that a good majority of the world's billionaires are self-made wealthsmiths, with that number currently standing at 1 639.
Self-made billionaires do not get to the three-comma club without first becoming millionaires. The majority of these rich people earned their wealth through founding their businesses or through investments.
One of the most famous, Bill Gates, started programming on computers when he was only 13. He founded Microsoft shortly after dropping out at Harvard University.
He came from a humble background and was anything but deterred on his way to making it to the highest top. His determination, focus and hard work are among the ingredients for his extensive success.
Source: YEN.com.gh
Naa Ayeley Aryee Naa Ayeley is a creative writer with over ten years of experience in journalism and media. She started writing for YEN in 2017 as an editor on the entertainment desk and later became a monitoring editor.
Aba Afful (Copyeditor) Maame Aba serves as a copy editor at YEN.com.gh. She naturally enjoys working with words and has an eye for quality content. She has a keen interest in cyberspace and wants to see YEN.com.gh produce more impactful, thought-provoking, and error-free content. Aba has five years of experience as a content writer, blogger, author, and proofreader. She graduated from the Ghana Institute of Journalism in 2017. She joined the team in 2021.
