Early Life
Marc Russell Benioff was born on September 25, 1964, in San Francisco, California. He is of Jewish heritage. Growing up in the Bay Area, he was the grandson of Marvin Lewis, a California trial attorney who championed the Bay Area Rapid Transit (BART) system. Benioff graduated from Burlingame High School in 1982 and earned a Bachelor of Science in business administration from the University of Southern California in 1986.
Rise to Success
Benioff's entrepreneurial journey began early. While in high school, he sold his first application, "How to Juggle," for $75. At 15, he founded Liberty Software, creating and selling games for the Atari 8-bit, which helped fund his college education. After graduating from USC, he gained experience at Oracle Corporation for 13 years, where he rose to become the youngest vice president in the company's history. He then founded Salesforce in 1999, pioneering the Software as a Service (SaaS) model. The company's initial mission statement was "The End of Software". In 2018, he purchased Time Magazine.
Key Business Strategies
Benioff's success stems from innovative business strategies. He revolutionized the software industry with Salesforce's cloud-based CRM model. His focus on customer success, innovation, equality, and sustainability has been key. Benioff is also recognized for his early adoption of the "1-1-1" model of philanthropy, where companies donate 1% of equity, 1% of product, and 1% of employee time to charitable causes. Salesforce has also made strategic acquisitions, including ExactTarget in 2013 and Buddy Media in 2012, to expand its offerings and market share.
Philanthropy
Benioff and his wife Lynne are known for their extensive philanthropy, particularly in healthcare and education. They have donated over $250 million to the University of California, San Francisco (UCSF) to build the UCSF Benioff Children's Hospitals in San Francisco and Oakland. They have also supported STEM education in the San Francisco Bay Area and made significant contributions to environmental conservation and affordable housing. Benioff and his wife have appeared on The Chronicle of Philanthropy's Philanthropy 50 list 10 times, representing over $1 billion in giving.