Early Life
Pierre Morad Omidyar was born in Paris, France, on June 21, 1967, to Iranian parents who had immigrated for higher education. His mother earned a doctorate in linguistics from the Sorbonne, and his father was a surgeon. The family moved to the United States when Pierre was six years old, where his father completed a residency at Johns Hopkins University Medical Center.
Rise to Success
Omidyar's interest in computers began in his youth, and he graduated from Tufts University in 1988 with a computer science degree. He co-founded Ink Development Corp. in 1991, which later became eShop Inc. In 1995, he launched Auction Web, which would later be renamed eBay. The online auction site quickly gained popularity, leading to Omidyar's significant wealth.
Key Business Strategies
Omidyar's success stemmed from recognizing the potential of online commerce. His strategies included creating a platform for peer-to-peer transactions, charging fees for listings, and fostering a sense of community among buyers and sellers. He stepped down as chairman of eBay in 2015.
Philanthropy
Pierre and Pamela Omidyar founded the Omidyar Network in 2004, a philanthropic investment firm. They have committed over $1 billion to various entities focused on property rights, governance, and financial inclusion. Omidyar is committed to giving away most of his wealth during his lifetime and donated approximately $500 million in 2019.