How Did Ryan Smith Make His Money

How did Ryan Smith make his money? He made his money by co-founding Qualtrics, followed by strategic investments and ownership of sports teams.

Early Beginnings and Qualtrics

Ryan Smith was born on June 28, 1978, in Eugene, Oregon. He attended Brigham Young University (BYU) where he studied business. While at BYU, he co-founded Qualtrics with his father and brother. The company started in their basement in 2002, focusing on experience management software. Initially, they bootstrapped the business for ten years before seeking venture capital.

In March 2017, Qualtrics was set to go public but was acquired by SAP for $8 billion just days before its IPO. This deal significantly boosted Smith’s wealth. He used his share of the sale to invest in Qualtrics stock, further increasing his net worth to an estimated $2.1 billion.

Ownership of the Utah Jazz

In October 2020, Ryan Smith made headlines again by purchasing a majority stake in the Utah Jazz for $1.66 billion. This acquisition included Vivint Arena and the Salt Lake City Stars of the G League. The NBA unanimously approved the sale in December 2020. Smith’s active involvement as an owner sets him apart from many other franchise owners who often take a back seat.

His ownership has brought new energy to the Jazz organization. He aims to lead the team toward its first championship title while enhancing fan engagement and community involvement.

Expanding His Sports Portfolio

Smith’s ambitions did not stop with the Jazz. In January 2022, he partnered with David Blitzer to purchase Real Salt Lake, a Major League Soccer team, along with America First Field. This move expanded his influence in Utah’s sports landscape. Additionally, he reestablished the Utah Royals in the National Women’s Soccer League in 2023.

Smith’s ventures into multiple sports demonstrate his commitment to promoting athletics in Utah. He has also expressed interest in bringing an NHL team to Salt Lake City, further solidifying his status as a prominent sports figure.

Other Business Ventures

Beyond sports ownership, Ryan Smith has diversified his investments. His wealth is largely tied to Qualtrics and its ongoing success in the technology sector. The company continues to thrive, providing valuable insights and analytics for businesses worldwide.

Smith’s strategic investments and partnerships have positioned him well within both tech and sports industries. His ability to attract high-profile investors has also played a crucial role in managing financial responsibilities associated with owning multiple franchises.

Philanthropy and Community Engagement

Ryan Smith is not just focused on profit; he is also dedicated to philanthropy. He has contributed millions to various charitable organizations and educational institutions. His commitment to community development reflects his desire to give back to the state of Utah, where he built his career.

Smith’s philanthropic efforts are closely tied to his business ventures. By investing in local sports teams and facilities, he aims to create opportunities for youth and promote healthy lifestyles through athletics.