A founder of billion-dollar startup Hims publicly proclaimed he’s made hundreds of millions and is well on his way to becoming a billionaire by his mid-30s — then deleted it
Category : entrepreneur
A serial entrepreneur who’s sold a company to eBay and cofounded a men’s healthcare startup says he’s on track to be a billionaire.
Jack Abraham, the 33-year-old founder and managing partner of the venture-capital firm Atomic, wrote a response to a Quora question asking users about their net worths. He said he was a millionaire who’s made a few hundred million dollars and is on track to be a billionaire “by my mid to late 30s.” He has since deleted his post from Quora.
“For my age, in the ‘self-made’ category I am probably between 1 in 1M or 1 in 10M (top 100- 1,000 globally self made for my age, possibly among even fewer),” Abraham said in the since deleted post. “At the rate of growth of the value of the equity I have there is a good chance that I’ll become a billionaire by my mid to late 30s.”
The post went on to discuss the pitfalls that can come with financial success and why happiness does not always correlate with a higher net worth.
Through Atomic, Abraham has backed and cofounded companies including the men’s health startup Hims, which has raised $197 million to date, and the coliving company Bungalow. Before his work with Atomic, Abraham sold a startup to eBay for $75 million. Abraham references those investments in the post, saying he’s made a few hundred million dollars by his early 30s.
Read more: You Can Explain eBay’s $50 Billion Turnaround With Just This One Crazy Story
Abraham said in an emailed statement to Business Insider that he initially wrote the post to help explain the trade-offs that come with wealth.
“As a society we are obsessed with wealth as a cure for all ails but in my experience wealth does not drive happiness and in fact can negate it in non-intuitive ways,” Abraham said. “I wrote the post to share my experience but it was intended for a small audience and to help anyone who might be considering trade offs of how they choose to live their lives.”
Abraham decided to take down the post after it began going viral.
“I took it down as its reach started growing, as I really prefer to keep a low profile and keep my head down, focused on building companies and solving meaningful problems that impact people’s lives,” Abraham said.
Abraham’s father was the CEO and cofounder of Comscore, and Abraham started working for him when he was in his teens, Business Insider’s Nicholas Carlson previously reported. While studying at the University of Pennsylvania’s Wharton School, Abraham started the e-commerce firm Milo, which he later sold to eBay.
He now says he’s started 14 companies, according to his profile on LinkedIn.
“For context on my background, my dad immigrated to the US to get his PhD at MIT without a dollar to his name and we grew up poor,” Abraham told Business Insider in the email. “We climbed to the middle and upper middle class before my dad became an entrepreneur and ‘made it’. I’ve seen life from all levels of wealth and believe I have a unique perspective on its pros and cons as a result.”