Dropout turns billionaire: Dylan Field, CEO of tech firm Figma, hits $5B net worth after IPO

Figma made its public debut last week, with shares soaring by 333%, boosting its market cap to over $70 billion within the first few days of trading. This success not only increased Field’s wealth to around $5 billion but also validated his decision to leave an Ivy League school, following in the footsteps of tech giants like Mark Zuckerberg and Bill Gates, to pursue his startup, Fortune reported.

In 2012, Field dropped out of Brown University’s computer science program to apply for the Thiel Fellowship, a program funded by tech billionaire Peter Thiel, which offered $100,000 to young people eager to "build new things instead of sitting in a classroom." That same year, Field co-founded Figma with his Brown classmate Evan Wallace, and they began working full-time on the startup, Business Insider reported.

At the time, Field’s parents expressed concerns. His father, Andy, told CNBC, "Most startups do fail. I think he has a good shot, but certainly not a sure thing by any means." His mother also feared that her son would later regret not earning a degree.

Figma's founder and CEO Dylan Field. Photo from X

Figma officially launched its design software to the public in 2016.

Field nearly became a billionaire three years ago when Figma’s success attracted the attention of Adobe, which offered $20 billion to acquire the company. However, U.K. regulators blocked the deal on competition grounds, forcing the companies to scrap the transaction.

In response, Field recalibrated Figma, slashing its internal valuation to just $10 billion and offering employees a voluntary exit package with three months’ severance. Only around 4% of the company’s 1,300 employees accepted the buyout, according to Forbes.

Nearly 18 months later, Field’s gamble paid off with Figma’s blockbuster IPO, making both him and Wallace billionaires. Forbes estimates Wallace’s net worth to be about $2.4 billion.

"The most important thing to remind myself of, the team of, is share price is a moment in time," Field told CNBC’s "Squawk Box" on July 31. "We’re going to see all sorts of behavior probably today, over the weeks ahead."