The Marc Benioff Story : Building Empires and Changing Lives
Biography of Marc Benioff
Born on September 25, 1964, Marc Russell Benioff is an
esteemed American internet entrepreneur and philanthropist. Renowned for his
remarkable contributions, Benioff holds the titles of co-founder, chairman, and
CEO of the prominent software company, Salesforce. Additionally, since 2018, he
has taken on the ownership of Time magazine, further solidifying his impact on
both the tech and media landscapes. As of April, 2024 his net worth is around
$9.8 billion .
Marc Russell Benioff: Early Life and Education
A San Francisco Upbringing: Family Background and Childhood
Marc Russell Benioff's journey begins with his upbringing in
the San Francisco Bay Area within a Jewish family. He hails from Hillsborough,
where he was immersed in the diverse cultural milieu of the region. Notably,
his grandfather, Marvin Lewis, played a pivotal role in local governance and
advocacy, contributing to the creation of the BART system.
Educational Foundations: High School and University Years
Benioff completed his high school education at Burlingame
High School in 1982, laying the groundwork for his future endeavors. His
academic journey continued at the University of Southern California, where he
pursued a Bachelor of Science in business administration, graduating in 1986.
During his time at USC, he actively engaged in fraternity life as a member of
the Tau Kappa Epsilon fraternity, fostering valuable connections and
experiences.
Family Ties and Personal Connections
In addition to his professional pursuits, Benioff shares a
familial connection with David Benioff, a prominent showrunner and television
writer. Their relationship as second cousins highlights the interconnectedness
of their achievements in different spheres. Moreover, Benioff is dedicated to
his family life, being married to Lynne Benioff and raising two children
together.
Residence and Community Engagement in San Francisco
Currently, Marc Benioff and his family reside in the vibrant
city of San Francisco, California. Their presence in the community underscores
their commitment to local engagement and philanthropy. Through their
contributions and initiatives, they continue to make a positive impact both
locally and globally.
Marc Russell Benioff: A Trailblazing Career Journey
Early Entrepreneurial Ventures: High School and College
Years
Marc Benioff's entrepreneurial spirit emerged early in life,
as evidenced by his sale of his first application, "How to Juggle,"
for $75 while still in high school. At the age of 15 in 1979, he founded
Liberty Software, where he developed and sold games like "Flapper"
and "King Arthur's Heir" for the Atari 8-bit. The royalties from
these ventures helped finance his college education.
Formative Years at USC and Oracle
During his time at the University of Southern California
(USC), Benioff secured an internship as a programmer at Apple, where he honed
his skills writing assembly code for the Macintosh. Following his graduation,
he joined Oracle Corporation in a customer-service role. Over the course of 13
years, Benioff held various positions within Oracle, spanning sales, marketing,
and product development. Notably, at the age of 23, he was recognized as
Oracle's Rookie of the Year, and by 26, he became the youngest vice president
in the company's history.
Founding Salesforce: A Vision for Change
In 1999, Marc Benioff embarked on a groundbreaking venture
by founding Salesforce in a San Francisco apartment. He defined the company's
mission with a bold marketing statement: "The End of Software." This
slogan, frequently used by Benioff, positioned Salesforce as a disruptive force
in the industry, advocating for software delivered over the web rather than
traditional CD-ROM formats. Benioff's strategic vision extended Salesforce's
offerings in the early 2000s, introducing a platform that empowered developers
to create applications. Today, Salesforce stands as the largest employer in San
Francisco and occupies a prominent position as the anchor tenant of Salesforce
Tower, the city's tallest building.
Entrepreneurial Beginnings and Corporate Leadership
In 1999, Benioff co-founded Salesforce, aiming to build a
company that not only delivers great products but also has a positive impact on
the world. He introduced the groundbreaking 1-1-1 model of philanthropy,
dedicating one percent of employee time, product, and revenue to charitable
causes, a concept that has inspired thousands of companies worldwide through
the Pledge 1% movement.
Marc Russell Benioff: A Multifaceted Philanthropist and Business
Leader
Engagement in Global Initiatives and Philanthropy
Marc Benioff's influence extends beyond the business realm,
as he actively participates in global initiatives and philanthropic endeavors.
He serves on the board of trustees for the World Economic Forum, contributing
his expertise to address pressing global challenges. Additionally, Benioff is
involved in shaping the future of his alma mater, the University of Southern
California (USC), as a member of its board of trustees.
Acquisition of Time Magazine and Venture Capital Initiatives
In a significant move in September 2018, Marc and his wife
Lynne acquired Time magazine for $190 million, marking a strategic entry into
the media landscape. Subsequently, in 2019, Benioff launched Time Ventures, a
venture capital fund aimed at supporting innovative companies. Time Ventures
has made investments in diverse ventures, including Commonwealth Fusion
Systems, Universal Hydrogen, and NCX. Notably, in 2021, two companies backed by
Time Ventures, Planet Labs and IonQ, went public, showcasing the fund's success
in nurturing startups.
Leadership Roles and Professional Milestones
Marc Benioff holds membership in prestigious business
advocacy groups, including the Business Roundtable and the Business Council,
where he collaborates with other CEOs to drive positive change. In November
2021, he assumed the role of co-CEO of Salesforce alongside Bret Taylor.
However, following Taylor's departure from the co-CEO position a year later,
Benioff resumed his role as the sole CEO of Salesforce, underscoring his
leadership and commitment to the company's vision.
Wealth and Land Investments in Hawaii
As of February 2022, Marc Benioff's estimated net worth
stood at US$8.31 billion, according to the Bloomberg Billionaires Index.
However, his wealth is not limited to financial assets, as evidenced by his
significant land investments in Hawaii. Benioff's acquisition of over 600 acres
of land, primarily near the town of Waimea on the Big Island, has drawn
attention and raised concerns among locals about rising housing prices, as
reported by NPR journalist Dara Kerr in a 2024 investigation. . As of April,
2024 his net worth is around $9.8 billion.
Marc Russell Benioff: Co-authored Literary Contributions
Throughout his career, Marc Benioff has made significant
contributions to the literary world, co-writing four impactful books on
business and technology.
Compassionate Capitalism: How Corporations Can Make Doing
Good an Integral Part of Doing Well (2004)
- In collaboration with Karen Southwick, Benioff penned "Compassionate Capitalism," exploring how corporations can integrate social responsibility into their business strategies, demonstrating that doing good can be synonymous with achieving financial success.
The Business of Changing the World: 20 Great Leaders on
Strategic Corporate Philanthropy (2006)
- Teaming up with Carlye Adler, Benioff co-authored "The Business of Changing the World," a compilation of insights from 20 influential leaders on the strategic importance of corporate philanthropy in driving positive change and making a lasting impact.
Behind the Cloud: The Untold Story of How Salesforce.com
Went from Idea to Billion-Dollar Company and Revolutionized an Industry (2009)
- In another collaboration with Carlye Adler, Benioff shared the captivating journey of Salesforce.com in "Behind the Cloud." This book unveils the untold story behind the transformation of an idea into a billion-dollar company, offering valuable lessons for aspiring entrepreneurs and business leaders.
Trailblazer: The Power of Business as the Greatest Platform
for Change (2019)
- In 2019, Marc Benioff, along with Monica Langley, authored "Trailblazer," exploring the transformative potential of businesses as catalysts for change. This New York Times bestseller highlights the pivotal role of business in driving social and environmental progress, inspiring readers to embrace innovation and purpose-driven leadership.
Marc Russell Benioff: Acknowledged Leadership and
Achievements
Appointment by President George W. Bush (2003)
Marc Benioff's contributions to the field of technology were
recognized when President George W. Bush appointed him as co-chair of the
President's Information Technology Advisory Committee in 2003. This appointment
highlighted Benioff's expertise and influence in shaping national policies regarding
information technology.
Recognition by the World Economic Forum (2009)
In 2009, Marc Benioff was honored as a Young Global Leader
by the World Economic Forum, showcasing his potential to drive positive change
on a global scale. His subsequent appointment to the board of trustees further
solidified his role as a key influencer in international economic and social
matters.
Accolades from Barron's and The Economist (2012)
Benioff's leadership prowess garnered widespread acclaim in
2012 when he was named one of the "Best CEOs in the World" by
Barron's. Additionally, he received The Economist's prestigious Innovation
Award, underscoring his innovative approach to business and technology.
Fortune's Businessperson of the Year (2014)
In 2014, Marc Benioff was honored as "Businessperson of
the Year" by Fortune magazine, recognizing his outstanding achievements
and leadership in the business world. This accolade underscored his significant
impact on the industry and his ability to drive success.
Inclusion in Fortune's List of World's Greatest Leaders
(2016)
Fortune magazine once again acknowledged Benioff's
exceptional leadership in 2016 by naming him one of the "World's 50
Greatest Leaders." This recognition highlighted his visionary approach and
commitment to driving positive change in the business and technology sectors.
Harvard Business Review and CNN Business Recognition
(2019-2020)
Marc Benioff's exemplary performance as a CEO earned him
further recognition in 2019 when he was listed among the 10 Best-Performing
CEOs by Harvard Business Review. In 2020, he was honored as the CNN Business
CEO of the Year, cementing his status as a prominent figure in the corporate
world.
The Marc Benioff Story : Building Empires and Changing Lives / Biography of Marc Benioff /Marc Benioff
Core Values: Guiding Principles for Excellence
Marc Benioff started Salesforce back in 1999. Now, it's a
really big company, ranked among the top 150 companies by Fortune. It has over
70,000 employees all over the world. The company has five main values that
guide how they work: trust, making sure their customers are successful, always
coming up with new and better ideas, treating everyone fairly, and taking care
of the environment.
Founding Salesforce: A Vision for Success
Under Marc Benioff's leadership, Salesforce has become the
number one company in the world for customer relationship management software.
This means they're really good at helping businesses manage their relationships
with their customers. Plus, Salesforce is growing super fast and is now one of
the quickest-growing companies that make software for big businesses.
Marc Benioff: A Champion of Philanthropy
Founding the Salesforce Foundation (1999)
In tandem with founding Salesforce in 1999, Marc Benioff
established the Salesforce Foundation, pioneering a groundbreaking approach to
corporate philanthropy known as the "1-1-1" model. This innovative
framework entails allocating one percent of employee time as volunteer hours,
one percent of product, and one percent of revenue to charitable causes,
demonstrating Benioff's commitment to social responsibility from the company's
inception.
Significant Donations to Healthcare and Research (2010-2019)
The Benioffs have made substantial contributions to
healthcare and medical research over the years. In 2010, they donated $100
million to the UCSF Children's Hospital, followed by another $100 million in
2014, along with an additional $50 million to fund research on premature birth.
In 2019, the Benioffs allocated $25 million to establish the UCSF Benioff
Center for Microbiome Medicine and $10 million to Stanford University for the
Microbiome Therapies Initiative. Additionally, they donated $35 million to
initiate a Prostate Cancer Research Initiative at the University of California,
San Francisco.
Environmental Conservation and Climate Initiatives
(2016-2021)
Marc Benioff's philanthropic endeavors extend beyond healthcare
to environmental conservation and climate action. In 2016, he pledged $10
million to the University of California at Santa Barbara to establish the
Benioff Ocean Initiative. Subsequently, in 2019, the Benioffs partnered with
organizations like the US National Fish and Wildlife Foundation and the
National Oceanic and Atmospheric Administration to launch the Pacific Islands
Research and Conservation Programme. In 2021, they joined Prince William's
Earthshot Prize as founding partners, committing to finding solutions to
environmental challenges.
COVID-19 Relief Efforts (2020-2021)
In response to the COVID-19 pandemic, Marc Benioff took
proactive measures to support frontline workers and communities in need. In
March 2020, he facilitated the procurement of 50 million pieces of personal
protective equipment for hospitals and first responders in the United States.
Additionally, he donated over $1 million to the Give2SF COVID-19 Response and
Recovery Fund. In April 2021, Benioff and Salesforce sent a plane filled with
medical supplies to India to aid in the country's fight against the pandemic.
Generous Contributions to Hawaii Hospitals (2024)
In 2024, the Benioffs demonstrated their ongoing commitment
to healthcare by donating a total of $150 million to Hawaii hospitals. These
funds will support the redevelopment of the Straub Hospital campus in Honolulu
and the refurbishment of the Hilo Medical Center on the Hawaii island. As a
result of their generosity, the hospitals will be renamed Straub Benioff Medical
Center and Hilo Benioff Medical Center, respectively, in honor of the Benioffs'
philanthropic contributions.
Philanthropic Initiatives and Impactful Giving
Benioff's philanthropic efforts, alongside his wife Lynne,
span healthcare, the environment, public education, and homelessness. They have
donated over $250 million to the University of California, San Francisco
(UCSF), supporting initiatives such as the UCSF Benioff Children's Hospitals
and the UCSF Benioff Center for Microbiome Medicine.
Global Advocacy and Environmental Stewardship
Beyond his corporate and philanthropic pursuits, Benioff is
an accomplished author, investor, and advocate for social and environmental causes.
He co-founded 1t.org, a global movement focused on conserving and restoring one
trillion trees, and serves on the World Economic Forum (WEF) board of trustees.
He also chairs the WEF's Centre for the Fourth Industrial Revolution in San
Francisco.
Diverse Engagements and Social Contributions
Marc Benioff's innovative spirit, unwavering commitment to
making a difference, and dedication to leveraging technology for good continue
to inspire individuals and organizations worldwide, leaving a lasting impact on
society and the business world alike.
Marc Benioff: A Visionary
Leader and Philanthropist
Marc Benioff is a multifaceted individual known for his
visionary leadership and philanthropic endeavors. As the Co-Founder, Co-Chief
Executive Officer, Board Member, and Chairman of Salesforce, he has played a
pivotal role in shaping the company's success and impact. Additionally, he
serves in advisory and executive roles in various organizations, showcasing his
diverse interests and expertise.
Some companies where Marc Benioff invested
- Weev - Media and Information Services (B2B)
- Siolota Therapeutics - Drug Discovery
- Breakr - Media and Information Services (B2B)
- Harness Wealth - Financial Software
- Cove - Household Appliances
- Vital Bio - Diagnostic Equipment
- HiNote - Communication Software
- Artera - Decision/Risk Analysis
- Kresus - Financial Software
- Mammoth - Social/Platform Software
- Convoy – trucking software company
- Yubico – offering strong two factor authentication
- Armory – enterprise software company
- Rubicon – software platform providing full-service waste management, recycling
- Mandolin – digital platform
- Breezeworks - smartphone app to manage businesses
- Drem - Energy Tech
Timeline of Marc Benioff's Story:
1964: Marc Russell Benioff is born on September 25 in San
Francisco, California.
1979: At the age of 15, Marc Benioff founds Liberty Software
and begins developing and selling games for the Atari 8-bit.
1982: Completes high school education at Burlingame High
School.
1986: Graduates from the University of Southern California
with a Bachelor of Science in Business Administration.
1986: Begins working at Oracle Corporation in a customer-service
role after graduation.
1999: Co-founds Salesforce in a San Francisco apartment with
a vision to revolutionize the software industry with cloud-based solutions.
2003: Appointed as co-chair of the President's Information
Technology Advisory Committee by President George W. Bush.
2004: Co-authors "Compassionate Capitalism: How
Corporations Can Make Doing Good an Integral Part of Doing Well" with
Karen Southwick.
2006: Co-authors "The Business of Changing the World:
20 Great Leaders on Strategic Corporate Philanthropy" with Carlye Adler.
2009: Co-authors "Behind the Cloud: The Untold Story of
How Salesforce.com Went from Idea to Billion-Dollar Company and Revolutionized
an Industry" with Carlye Adler.
2009: Honored as a Young Global Leader by the World Economic
Forum.
2014: Named "Businessperson of the Year" by
Fortune magazine.
2016: Included in Fortune's list of "World's 50 Greatest
Leaders."
2018: Marc and his wife Lynne acquire Time magazine for $190
million.
2019: Launches Time Ventures, a venture capital fund aimed
at supporting innovative companies.
2019: Co-authors "Trailblazer: The Power of Business as
the Greatest Platform for Change" with Monica Langley.
2021: Joins Prince William's Earthshot Prize as founding
partners to address environmental challenges.
2024: Donates $150 million to Hawaii hospitals, resulting in
the renaming of Straub Hospital and Hilo Medical Center to honor the Benioffs'
contributions.
Marc Benioff's journey from a young entrepreneur to a visionary leader and philanthropist reflects his enduring commitment to innovation, social responsibility, and making a positive impact on the world.
