How much is Cash App worth, and what was founder Bob Lee’s net worth before his death?

Tech executive Bob Lee died at age 43 on April 5, 2023. He’s known for the creation of Cash App, a popular mobile payment service in the United States and the United Kingdom that was released in October 2013. Prior to the creation of Cash App, Lee worked with multiple tech companies, including Google where he worked as a staff software engineer. He was also a technical architect for AT&T, and, by 2010, he was recruited by the eCommerce company Square. This eventually led to the development of Square Cash, later known as Cash App.

News of Lee’s death was shared by his father on Facebook, shocking users across the globe. The New York Times reported that Lee was fatally stabbed in San Francisco and the SFPD responded to the incident at around 2:35am on Tuesday. At the moment, the San Francisco District Attorney has not made any arrests and no suspects have been sent into custody.

How much is Cash App worth?

Reuters reported that Cash App had over 44 million verified monthly users days before the creator’s death. Since its release, the app has generated over $1.8 billion in gross profit in 2019, and it was big enough to compete with Venmo, according to Fool.com. In 2020, Cash App’s reported net value was around $40 billion, according to Forbes magazine. As the app got popular, it soon allowed teenagers to access the app, but they won’t be able to invest in crypto or stocks until they’re 18 years old.

Bob Lee’s net worth

Prior to his death, Lee was known for investing in several tech startups like Clubhouse and Figma. He also once worked with the World Health Organization to develop an app during the COVID-19 pandemic. According to Market Realist, Lee’s net worth before his death was estimated around $10 million. Not bad for someone who’s been in the industry for awhile, even aiding with the development of Android during its early years. But perhaps the biggest contribution to Lee’s wealth is the success of Cash App.

Cash App is one of the biggest e-commerce apps on the market. Not only does it allow users to transfer money, but it also opened doors to allow them to invest. The app became a cultural impact that hundreds of rap artists mentioned the app in their songs.

Since Lee’s death, multiple tech leaders like former Twitter CEO Jack Dorsey have commented on Lee’s legacy, claiming that he was instrumental in the industry and that he didn’t deserve to be killed.