Snap CEO Evan Spiegel founded Snapchat with Bobby Murphy while both were undergraduate students at Stanford.
The 28-year-old entrepreneur's salary (minus stock awards) may be only $1, but he still maintains ultimate control over the company, with 50.8% total voting power due to its atypical ownership structure.
Spiegel is a hands-on CEO who not only led the company through its much-anticipated IPO in 2017, but also an unpopular redesign of its app last year that caused user backlash, investor panic, and executive departures.
Still, he is deemed by many to be a product genius, and is credited with some of Snapchat's most revolutionary ideas, like ephemeral messages, Stories, and the vertical video format.
In recent months, Spiegel has been taking more of a backseat and delegating more responsibility, insiders say, as well as making more of an effort to open up. He led the keynote at the company's first-ever Partner Summit earlier this month and mingled freely with attendees. The company too has been more open than ever before.