- As an entrepreneur, Michael J Saylor founded MicroStrategy and took it to the zenith of the domain.
- He recently stated that his company will explore investment options in Bitcoin, gold, and other alternative digital assets.
Michael J Saylor is one of those successful technocrats who have become an inspiration for millions. He started his career as a regular software developer and became one of the world’s most influential businessmen. His company, MicroStrategy is a leader in business intelligence and cloud-based services. With a row of stellar achievements, Saylor becomes a person worth studying. So let’s dive right into the life of this charismatic entrepreneur.
From Cradle to College
On February 4, 1965, Saylor was born into a working-class family. His father was an Air Force chief master sergeant. Due to this, he spent his early years on a number of air forces based across the globe. The permanent settlement happened a little later in Fairborn, Ohio, when he was 11.
Saylor obtained an Air Force FOTC scholarship to pursue his higher education. He joined the Massachusetts Institute of Technology (MIT) in 1983 and graduated in 1987. His education portfolio included a double major in science, technology, society, astronautics, and aeronautics. During this time, he associated with Theta Delta Chi fraternity which was originally founded in 1847. And this is where he met the future co-founder of MicroStrategy, Sanju Bansal.
A Career Full Of Achievements
Following the footsteps of his father, Saylor tried to become a pilot but a medical condition thwarted his attempt. He, then joined a consulting firm, The Federal Group, Inc. in the same year of graduation. For one year, he worked on computer simulation modeling over there. In 1988, he joined DuPont as an internal consultant and created computer models that analyzed and speculated trends in major markets.
Notably, one of the simulations he designed predicted a recession that will occur in 1990. Soon after that, Saylor founded MicroStrategy with Sanju Bansal. It focused on developing software for data mining and business intelligence. The big moment for the company arrived in 1992 when it bagged a $10 million contract from the food-chain giant McDonald’s.
While developing the application for McDonald’s, Saylor realized that his company could take business intelligence one level ahead. He figured that his business intelligence software would enable the companies to do an in-depth analysis of the operations. In 1998, MicroStrategy hit another milestone by going public.
The IPO offered 4 million shares at $12 each and doubled on the first day of trading. Saylor’s personal income also skyrocketed along with this company’s. With the ownership of 39,521 units worth $14,482,075, his net worth reached $7 billion by 2000. Media houses and companies started bestowing titles and accolades upon him. Washingtonian declared him to be the wealthiest man in Washington D.C. Ernst & Young entitled him the Software Entrepreneur of the Year. Red Herring Magazine enlisted him among the Top 10 Entrepreneurs for 1998.
Exploring New Horizons
Saylor developed an interest in Bitcoin and started focusing on its acquisition strategy. During MicroStrategy’s quarterly earnings conference in July 2020, Saylor expressed his intentions to foray into the crypto sphere. Soon after that, the company added Bitcoin worth$225 to its portfolio. In 2022, he resigned as CEO of MicroStrategy while keeping the designation of executive chairman.
Besides being an instrumental business leader, Saylor authored a book called “The Mobile Wave: How Mobile Intelligence Will Change Everything. He also founded The Saylor Academy which provides free education online to students. With sharp acumen, an innovative mind, and a philanthropic heart, Michael J Saylor is truly an iconic business figure.