Adam Foroughi
Adam Foroughi | |
|---|---|
| Born | 1980 Iran |
| Occupation(s) | Entrepreneur, CEO |
| Known for | Co-founder and CEO of AppLovin |
Adam Foroughi is an Iranian-American entrepreneur and billionaire who serves as the chief executive officer (CEO) of AppLovin, a company specializing in mobile technology.
Early life and education
Born in 1980, Foroughi's family relocated to the United States to avoid the conflict between Iraq and Iran. He was raised in Los Angeles, California, where his father operated a construction business. Foroughi obtained a Bachelor of Arts degree in economics from the University of California, Berkeley.
Career
Following his graduation, Foroughi began his career as a derivatives trader and went on to establish two marketing firms prior to founding AppLovin. In 2012, he co-founded AppLovin alongside John Krystynak and Andrew Karam.
AppLovin debuted on the public market on April 15, 2021, with an initial market capitalization near $24 billion. This public offering increased Foroughi's personal wealth to around $2 billion.
In 2023, Foroughi received total compensation amounting to $83.4 million from AppLovin, representing a 79,783% rise compared to the previous year. This remuneration ranked him as the eighth highest-paid CEO in the United States that year, with a pay ratio of 795-to-1 relative to the median employee salary.