What is Thomas Siebel’s Net Worth?
Thomas Siebel is an American businessman who has a net worth of $4 billion. Thomas Siebel earned his fortune as the founder of the software company Siebel Systems and the artificial intelligence company C3.ai. He is also the chairman of First Virtual Group, a diversified holding company with interests in such areas as agribusiness and commercial real estate. In other endeavors, Siebel founded his own foundation to support philanthropic work.
Thomas Siebel worked for Oracle from 1984 to 1990. In 1993 he co-founded Siebel Systems, a software company that designed, developed, marketed, and supported customer relationship management (CRM) applications. Oracle bought Siebel Systems in January 2006 for $5.8 billion. For many years Thomas famously had a bitter rivalry with Oracle founder Larry Ellison.
Thomas’ second cousin is an investment banker named Kenneth Siebel. Kenneth’s daughter Jennifer Siebel is married to Gavin Newsom, the Governor of California.
Early Life and Education
Thomas Siebel was born on November 20, 1952 in Chicago, Illinois as one of seven children of Ruth and Arthur. For his higher education, he went to the University of Illinois Urbana-Champaign, from which he earned his BA in history, and later his MBA. Siebel also obtained an MS in computer science from U of I.
Career Beginnings
Between 1984 and 1990, Siebel held various management positions at the computer technology company Oracle Corporation. After that, he served as the CEO of the software company Gain Technology, which merged with Sybase in late 1992.
Siebel Systems
In 1993, Siebel founded Siebel Systems, a company that originally made sales force automation software. Eventually, it moved into the larger CRM market, and by the late 1990s was the dominant CRM vendor and the fastest-growing technology company in the United States. Siebel Systems grew to encompass over 8,000 employees in 32 countries before merging with Oracle Corporation in early 2006 in a deal that valued Siebel Systems at $5.8 billion.
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C3.ai
In 2009, Siebel founded C3.ai, a technology company specializing in enterprise artificial intelligence. The company offers a product that uses machine learning and neural networks to solve complex analytical problems in the areas of industry, government, and commerce. Among its customers are the US Air Force and the Department of Defense. In 2019, C3.ai was included on CNBC’s “Disruptor 50” list. Siebel serves as the chairman and CEO of the company; he sits on the board with such notable people as Condoleezza Rice and John Hyten.
Philanthropy
In 1996, Siebel established the Siebel Foundation. The organization supports underprivileged communities, educational and research programs, alternative energy solutions, and substance abuse prevention. Siebel later founded the Montana Meth Project to combat methamphetamine use, with a focus on teenagers. Elsewhere, he has made large donations to his alma mater U of I, with $32 million going to the construction of the Siebel Center for Computer Science and $25 million toward the construction of the Siebel Center for Design.
Political Involvement
Siebel made over $330,000 in political contributions between 2009 and 2014. Approximately 90% was for independents and 10% for Republican candidates. Later, in 2022, Siebel donated $90,000 to the convoy movement in Ottawa, Canada that protested COVID-19 vaccines and safety measures.
Board Appointments
Siebel sits on a number of boards, including the boards of advisors of the University of Illinois College of Engineering, the University of California, Berkeley College of Engineering, and the Stanford University College of Engineering. He is also a director of Stanford’s Hoover Institution, and chairman of the boards of First Virtual Group and the American Agora Foundation. In 2013, Siebel was elected as a member of the American Academy of Arts and Sciences.
Books
Siebel has written non-fiction books and articles about business and technology. With Michael Malone, he published his first book, “Virtual Selling,” in 1996. That was followed in 1999 by “Cyber Rules,” co-written by Pat House. In 2001, Siebel published “Taking Care of eBusiness.” His fourth book was “Digital Transformation,” which came out in 2019. A Wall Street Times bestseller, the book examines how modern information technologies are impacting business, government, and society at large.
Elephant Attack
In August of 2009, Siebel was on a wildlife tour in Tanzania when an elephant charged at his guide and then turned on him, breaking several of his ribs and goring his leg. It was three hours before he was able to receive medical treatment. Flown back to the United States, Siebel lost half of his fluids before he was placed in the ICU. Over the next six months, he underwent 11 surgeries to fix his injuries. Siebel went on to undergo more surgeries in 2010, including various reconstructive surgeries.
Personal Life
With his wife Stacey, Siebel has four children. The family resides in Woodside, California. Siebel also owns and operates a working cattle ranch, the Dearborn Ranch, in Wolf Creek, Montana.
