Movers & Shakers
We See You: Eric Wu
The Opendoor co-founder was raised by a single mother, and got his start in real estate as a college student
This is DP’s series of the people—young, old, and everyone in between—who most intrigue us
Why we’re watching him: Wu, 40, is one of three co-founders of Opendoor, which revolutionized how to sell your home online (to them, of course). Started in 2014, the company is currently valued at $1.36 billion, according to Stock Analysis.
Pedigree: Wu, whose father died when he was four, was raised by a single mother in Arizona. He got his start in real estate when he was just 19 while attending the University of Arizona. He told CNBC, “I didn’t want to pay rent, so I ended up finding a way to buy a home. I used my scholarship funds as a down-payment, and then I lived in the home and rented out some of the rooms.” He told CNBC the idea came from his mother, who he describes as “the most frugal woman in the world.’”
Home is where the hangar is: While some tech bros put their testosterone-fueled money into rockets, Wu bought a home in Beverly Hills, that the Real Deal describes as “a glass-wrapped Bel-Air mansion shaped like an airplane propeller for $32 million, down from an ask of $56 million.” The report goes on to say that the house “appears from a distance to hover over the city like a descending UFO.”
Remember the real estate market crash? So does Wu. After the home buying market tanked in 2022, Opendoor laid off 18 percent of its employees. Wu stepped down as CEO in 2023, though he remains active in the company. Not to worry, though. According to CrunchBase, Wu is invested in 37 other companies.
Let’s turn to the marriage market: When asked what his 12-year-old self would think of his success, Wu told a YouTuber interviewer on Unlocking Success: “He’d be impressed by my professional progress but very disappointed by my personal progress. I always imagined by the time I was in my thirties, I’d be married with kids, so I’m definitely pretty far behind on that front.” His motto: embrace the adversity.
Party spirit animal: The beaver, known to be determined, visionary, and inventive.
Prediction: Far be it from us to predict the real estate market, but we’re sure Wu would do pretty well on Raya.
Hero photo by Matteo Prandoni/BFA.com
