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Devin Wenig Net Worth

Devin Wenig net worth

What is Devin Wenig net worth?

Devin Wenig net worth 2021: Devin Wenig is an American business executive who served as the CEO of e-commerce corporation eBay until 2019. He is currently a director of General Motors and its subsidiary Cruise Automation, an autonomous vehicle company.

Early life

Devin Norse Wenig was born in Brooklyn, New York, the son of Carol Wenig and Jeffrey Wenig, a toxicologist, and founder and chief executive of Nastech Pharmaceutical Company of Hauppauge, Long Island.

Wenig earned a bachelor’s degree from Union College, and a JD degree from Columbia University School of Law.

Career

At age 23, following his father’s unexpected death, Wenig took over as CEO of then-struggling Nastech Pharmaceutical, raising $5 million in venture capital. After a year as CEO, he recruited a healthcare CEO and joined the law firm Cravath Swaine & Moore.

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In 1993, Wenig joined Reuters, where he remained until 2011, becoming the company’s no. 2 executive. From June 2006 to April 2008, Wenig was COO and a board member of Reuters Group plc. He assisted with the merger of Reuters Group with the Thomson Corporation, and then from April 2008 to August 2011, Wenig was CEO of Thomson Reuters Markets.

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Wenig joined as president of eBay’s global marketplaces business in September 2011. When Wenig joined eBay, it had 99 million active users. During his time as marketplace chief, this rose to nearly 160 million, by focusing on “m-commerce”, shopping on mobile devices.

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 In October 2014, it was announced that once the eBay/PayPal demerger was complete, Wenig would become CEO of eBay, replacing John Donahoe. Wenig took over as CEO in July 2015 after eBay spun off PayPal.

In April 2018, he was elected to the General Motors’ board of directors.

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In September 2019, Wenig unexpectedly stood down as CEO of eBay, amid pressure from activist investors to break the company apart, and was immediately succeeded as interim CEO by Scott Schenkel, eBay’s CFO.

Devin Wenig Net Worth

Devin Wenig net worth is $60 million. He received a $57 million golden parachute package after stepping down as CEO of eBay.

In 2019, Wenig was ranked #100 in a Forbes list of America’s 100 most innovative leaders. He was ranked eighth in Retail Info Systems’ 2017 list of “Retail’s 10 Best CEOs”.

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