Eric Siu examines whether CEOs are actually worth what markets suggest. When Frank Slootman resigned from Snowflake, the company lost roughly $15 billion in market cap, but Siu argues that doesn't mean Slootman personally is worth that much. CEOs shape pace and culture, but the math doesn't add up.
Do you know how much CEOs are actually worth? It depends on the company size, but I think they're worth millions of dollars. They're worth billions of dollars to the tune of $15 billion. So Frank Slootman, he was the CEO of ServiceNow, and then he took over as CEO of Snowflake. Amazing guy. He's like a hardcore CEO. He really helps shape the pace and the culture of a company, right? And so when he announced his resignation, the market cap of Snowflake dropped about $15 billion. I do believe Frank Slootman's worth a lot. I don't think he's worth $15 billion.
