What is Gavin Wood’s Net Worth?
|Net Worth||$450 million|
|Source of Wealth||Computer science endeavors|
|Date of Birth||April 1980|
|Height||5’ 10” (1.78 m)|
|Place of Birth||Lanchester, UK|
|Star Sign||Taurus or Gemini|
Gavin Wood is a British software designer best known for developing the blockchain and crypto technologies Polkadot and Ethereum. He is considered a legend in the crypto and technological world as the creator of his own programming language, Solidity, which is used to create smart contracts in Ethereum.
Another one of his projects includes the Web3 Foundation. He’s one of the wealthiest people in crypto, with a net worth of more than $450 million. Here’s everything there is to know about this crypto legend.
Before the Spotlight
Gavin Wood was born in Lanchester, England, in April 1980. His specific birthdate is unknown. At nine, he developed an interest in computer programming when his neighbor Sean introduced him to it.
His interest in economics, game theory, and technology grew. Although his mother was afraid of electrical machines, she bought Wood his first computer when he was nine. There is little to no information about Wood’s father.
After attending the Royal Grammar School, Wood went to university for computer engineering. In 2002, he earned his Master of Engineering in Computer Systems and Software Engineering from the University of York. He then went on to earn his Ph.D. in 2005.
The Journey to Success
After receiving his Ph.D., Gavin held numerous jobs before having a notable career. When blockchain was launched in 2009, he had no interest whatsoever. His initial jobs were as a programmer at InTechnology Plc in 2000 and Frontier Developments in 2005.
Wood began working for Microsoft Research Cambridge as a Research and Software Consultant. Later in 2013, he co-founded Ethereum, a blockchain technology, with Vitalik Buterin, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin. He helped develop the programming language Solidity to write smart contracts in Ethereum.
In 2014, he released a paper on the runtime system for smart contracts, Ethereum Virtual Machine. In 2016, he parted ways with the Ethereum Foundation to focus on other blockchain-based projects.
In 2015, Wood simultaneously established Parity Technologies, formerly known as Ethcore. He teamed up with Jutta Steiner to build a client that allows companies to develop software using blockchain technology. The Parity Ethereum software client was released in 2016. In 2018, Wood became the Chief Web Officer at Parity.
In 2020, he founded the nonprofit Web3 Foundation, responsible for Polkadot, a blockchain platform and cryptocurrency. It is different from Ethereum and allows the creation of blockchains that can communicate with other ledgers, creating a network of parachains. It was built on Kusama, a development environment for Polkadot released in 2019.
The Best Moments
The most notable events of Wood’s career took place in the past ten years. Here are a few of his career highlights.
- Co-founded Ethereum in 2013
- Proposed Solidarity, coined the term “Web3,” and released the Yellow Paper defining the Ethereum virtual machine in 2014
- Launched Ethereum and founded Parity Technologies in 2015
- Set up the Web3 Foundation in 2017.
- Developed and launched the Polkadot network in 2020
The Private Side
Gavin Wood is a notoriously private man, so there aren’t many online details about his personal life. Specifically, there’s nothing available regarding a spouse, partner, or children. His secrecy has led to him being considered Satoshi Nakamoto, the unknown developer of Bitcoin. Although, he is one of the less speculated candidates.
His main interests outside of his career are photography and snowboarding, which he often does. In addition, he’s proficient in Taekwon-do.
He also has a lifelong fascination for game theory and economics, which is how he found himself in his current career. He currently lives in Zurich, Switzerland. Wood donated $5.8 million in cryptocurrency to support Ukraine and its refugees amidst the Russian invasion of Ukraine in 2022.
Wood was the center of a scandalous controversy. In 2013, he posted a blog claiming to have had intercourse with a preteen girl who was dying of AIDS. He was reportedly 18 at the time. When the blog resurfaced after his fame, he claimed the story to be fiction and stated that it was an act to grab attention as it was meant to “spark debate and conversation.”
Gavin Wood’s Related Video
Getting to know Gavin Wood
One of Wood’s proudest accomplishments is the Web3 Foundation. This video highlights what Web3 is and how Wood feels about the concept of the internet and trust.
Famous Quotes of Gavin Wood
Gavin Wood’s intellectuality can be contagious. Here are some of his wisdom-induced words.
- “If I educate myself well enough on material that is freely available, and that’s all that is required to become a co-provider of the service, then that is a free service.”
- “I think trust in itself is actually just a bad thing all around. Trust implies that…you’re placing some sort of authority in somebody else, or in some organization, and they will be able to use this authority in some arbitrary way.”
- “Any power structure — regardless of initial purpose — will ultimately view retention of power as its primary goal. It’s no surprise that those endowed with power find it difficult to hand over to a structure they don’t control.”
The Social World
Gavin Wood is highly inactive on social media and does not have an account on most platforms. Instead, he only frequently shares or retweets other users’ posts on Twitter.
Lessons for Entrepreneurs
His life and career have many teachable lessons to inspire others:
- Being open-minded. He recognized the importance of being open-minded when he met Ethereum co-founder Vitalik Buterin, who introduced him to cryptocurrency. He went into the meeting with an open mind and ended it as a future business partner.
- Taking a risk on innovation. As an innovator, Wood understands taking chances and pursuing new ideas. His companies, programs, and platforms have all shown success because he was willing to take a risk on something new and unfamiliar. Being afraid of failure prevents you from being successful.
- Pursuing multiple career paths. As a designer of board games and blockchain platforms, Wood also learned there’s no requirement to stay confined to one career box. Interests and passion may evolve over time.
- Avoid being gullible and trusting. Wood teaches a hard truth about not putting too much trust in other people as you open up yourself to disappointment and disloyalty from their side. Learn to judge others’ personalities.
The Unusual Stuff
There are some interesting and weird facts about Gavin Wood, including:
- Some people think he is also Satoshi Nakamoto, the presumed pseudonym for the person who developed bitcoin.
- As a child, he enjoyed developing board games. He’s the creator of Milton Keynes, a game designed for kids 14 and up.
- One of his favorite hobbies is photography. You can find his work on Flickr.
Answering Frequent Questions
Here’s more information about Gavin Wood, the founder of Ethereum and Polkadot.
Was Gavin Wood always interested in cryptocurrency?
Wood didn’t show much interest in crypto until he met his future Ethereum co-founder Vitalik Buterin.
Is Gavin Wood a doctor?
He received his Ph.D. in Music Visualization in 2005, which led him to create the Moodbar visualization software.
Does Gain speak any other languages?
Yes, Wood speaks English and Italian fluently. He also speaks some French, Spanish, Lojban, and Romanian.
The Closing Remarks
With an estimated net worth of approximately $450 million, Gavin Wood is one of the wealthiest and most well-known figures in the cryptocurrency world. He founded several companies, the most notable Ethereum, Polkadot, and the Web3 Foundation. Today, he continues to work on innovative new projects that’ll contribute to blockchain and crypto technologies.