Michael Birch net worth
Michael and Xochi Birch Net Worth: Michael and Xochi Birch are an IT couple with a net worth of $390 million. British-born Michael Birch and his American wife, Hodge Birch, have co-founded several companies since 1999, most notably the online social networking site Bebo. Xochi and Michael combined their skills as computer programmers and entrepreneurs to launch the social networking site Bebo in 2005.
The site experienced tremendous growth in 2007, with over 45 million registered users, making it the sixth most popular site in the UK, surpassing AOL, Amazon.co.uk and bbc.co.uk. After the couple decided to sell Bebo to AOL for $850 million in 2008, their combined 70 percent stake generated a $595 million profit from the deal. After the sale, they turned the profits into five different companies operating simultaneously. Meanwhile, Bebo went bankrupt under new owners, and the pair re-acquired the franchise in 2013 for just $1 million. As for their current project, it’s an exclusive members’ club in San Francisco called The Battery, whose vision is “to create a culture that embraces inspiration, where diverse communities come together, and self-examination. Additionally, they are active philanthropic supporters, Especially the nonprofit charity:water.
