Arash Ferdowsi is the newest Iranian American Billionaire as Dropbox IPO’s

By Iman Sadri

Arash Fersowsi (C) celebrating the Dropbox IPO at the Nasdaq exchange (Image Credit AP)

March 23, 2018

Arash Ferdowsi is newest Iranian American billionaire. Joining Omid Kordestani and Pierre Omidyar, among others. Ferdowsi is the co-founder of Dropbox, an 11-year old tech company that had its IPO today. Dropbox shares surged 36% on its opening day of trading, closing above $31, on a day the Dow Jones dropped over 400 points.

Arash Ferdowsi at at a Forbes photoshoot (Image Credit Getty)

Ferdowsi dropped out of M.I.T. to start Dropbox with founder Drew Houston. Dropbox is a file hosting service based in San Francisco. Its 2017 revenues exceeded $1 Billion and with its IPO today, its valuation is above $11 Billion.

Assuming Ferdowsi owns 10% of Dropbox and not 5% as reported on some sites, his stake is worth over $1 Billion.

Congrats to Arash Ferdowsi.

Iman Sadri is the founder of The Persian Observer