The rise of Airbnb CEO Brian Chesky, who got his start renting out air mattresses on his floor
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Brian Chesky, a former hockey player and industrial design student, is now worth $9.1 billion.Chesky started Airbnb after renting out his apartment to conference-goers who couldn't find a hotel.See how Chesky led the company to a successful IPO and beyond despite COVID-19 and other challenges.Before running Airbnb, Brian Chesky attended art school.After graduation, an idea hatched with his San Francisco roommate Joe Gebbia blossomed into tech unicorn Airbnb and has positioned Chesky as one of Silicon Valley's key players.In 2024, Airbnb recorded a 11% growth in pre-tax earnings at approximately $4 billion compared to 2023, and remained synonymous with short-term rentals across the US.Here's how the Brian Chesky, now 43, became one of the richest young tech founders in America.This story was originally published in 2016. It was last updated on March 10, 2025.Chesky grew up in Niskayuna, New York, north of Albany. Mike Groll/AP He was into hockey, and he also liked to draw and design new versions of Nike sneakers, which turned into an interest in art, according to a 2015 Fortune profile.Chesky's high school yearbook quote was "I'm sure I'll amount to nothing." He thought it was funny his dad didn't.I remember the day my dad saw my yearbook photo. He saw this and yelled, "Nothing?! Nothing?!" I thought it was funny... he didn't. Earlier this year, he was happy to find out I'd be speaking at both my high school and college as the commencement speaker. Now, off to Rhode Island School of Design. See you soon Dad! #RISD A post shared by Brian Chesky (@bchesky) on May 31, 2017 at 11:06am PDTMay 31, 2017 at 11:06am PDT "Earlier this year, he was happy to find out I'd be speaking at both my high school and college as the commencement speaker," Cheskywrote on Instagram in 2017. "See you soon Dad!"Chesky attended Rhode Island School of Design. Gretchen Ertl/AP The '04 grad served as captain of the hockey team and studied industrial design.At RISD, Chesky met Joe Gebbia, with whom he would eventually cofound Airbnb. Airbnb Right before graduation, Gebbia reportedly pulled Chesky aside and said: "Before you get on the plane, there's something I need to tell you. We're going to start a company one day, and they're going to write a book about it," per Fortune.Chesky first worked as an industrial designer. Getty Images After graduating from RISD, Chesky moved to Los Angeles to work as an industrial designer, for which he made $40,000 a year, according to Forbes.But shortly thereafter, he moved to San Francisco and in with Gebbia.The two unemployed grads soon ran out of cash, said Leigh Gallagher, author of the book, "The Airbnb Story: How Three Ordinary Guys Disrupted an Industry, Made Billions and Created Plenty of Controversy." When a design conference came to town in October 2007 and caused all the hotels to sell out, Gebbia pitched Chesky the idea of renting out their space to those who couldn't find a place to stay. Guests could sleep in air mattresses on their living room floor. "They thought they were going to get hippie backpackers, and instead, they got lots of people just like them who wanted those air mattresses," Gallagher said in an interview with the Knowledge at Wharton show. "They had people sending their resumes and their LinkedIn profiles, so they thought, 'We might be on to something.'"A few months later, Gebbia and Chesky were joined by their engineer friend, Nathan Blecharczyk. Airbnb Together, the three guys started what was at the time called Airbedandbreakfast.com in August 2008."I think they came along at the right time, because it was the Great Recession," Gallagher said. "People were looking for a cheap way to travel, and they just struck a chord with millennials, who were a massive market that at the time was not really being spoken to by the traditional hotel industry."Since then, Airbnb has not only shortened its name, but has listings in more than 220 countries worldwide. Glassdoor/Airbnb The company says it has served an estimated 2 billion guests since its 2008 launch. Airbnb has a market cap of $89 billion as of March 2025.In 2015, Chesky was named to the Time 100 as one of the most influential people alive.Chesky sits down with comedian Stephen Colbert on CBS' The Late Show. CBS Photo Archive/Contributor/Getty Images Apple's former design chief, Jony Ive, wrote at the time that Chesky's "audacity is fabulous.""The service that Brian and his partners imagined," the Apple executive said, "is soaringly ambitious and utterly practical.""Bringing people together is something of a passion for Brian," Ive said. "With Airbnb he's helped create millions of personal connections. That's an achievement that even the best hotels in the world should envy."In 2016, Chesky, as well as Airbnb's two other cofounders, all publicly signed the Giving Pledge.Airbnb co-founders Brian Chesky and Joe Gebbia Airbnb By doing so, they promise donate more than half of their wealth within their lifetimes. The pledge is a philanthropic initiative started by Warren Buffett and Bill and Melinda French Gates.Up until 2016, Chesky was still renting out his couch in his San Francisco apartment on Airbnb.Chesky, co-founder and CEO of AirBnb, attends the Reuters Global Technology Summit in San Francisco Thomson Reuters But after getting caught flouting a San Francisco law that requires hosts to register with the city, Chesky was forced to take the listing down.In February 2020, cancellations began rolling in from China due to a mysterious virus. Mike Windle/Getty Chesky and his team were three weeks away from filing for Airbnb's IPO.The early days of the pandemic seemed grim. AP Airbnb's revenue plummeted 80% due to COVID-related travel restrictions. The company burned through its cash reserves and opted to raise $2 billion in debt and equity financing to stay afloat. Its valuation, previously $31 billion, slipped to $18 billion.Airbnb laid off 1,900 employees, about 25% of its full-time staff. Gabrielle Lurie/Reuters Employees said they felt betrayed, but Chesky was also praised for his handling of the situation. Workers were given generous severance packages, and Chesky offered to help find them jobs elsewhere.But then Pandemic-weary travelers turned to Airbnb. Mike Cohen/Getty Images for The New York Times Bookings bounced back by as much as 127% between April 2020 and May 2020.Airbnb went public on December 10, 2020, under the Nasdaq ticker symbol ABNB.Chesky's high above Time Square on Airbnb's December 2020 Listing Day. AP Photo/Mark Lennihan Barron's called it a "blockbuster" IPO. On its first day of trading, the company was valued at $86 billion, more than hotel rivals Marriott, Hilton, and Intercontinental combined.Chesky announced Airbnb would work to house refugees when Russia invaded Ukraine.Actor Ashton Kutcher and Brian Chesky on stage at a 2016 Airbnb event. Stefanie Keenan/Contributor When Russia invaded Ukraine in Feburary, 2022, Chesky tweeted that "Airbnb and Airbnb.org are working with our Hosts to house up to 100,000 refugees fleeing from Ukraine, for free," and appealed for hosts from neighboring countries including Poland, Germany, Hungary, and Romania to join the effort.In November 2022, Chesky listed a guest room in his home on Airbnb.Airbnb CEO Brian Chesky speaks at Cultivating the Art of Taste & Style at the Los Angeles Theatre during Airbnb Open LA - Day 3 on November 19, 2016 in Los Angeles, California. Mike Windle/Getty Images The room had a queen-sized bed and a piece of Airbnb history: the novelty cereal boxes that Chesky sold in 2008 to fund the early days of the company. Chesky said he would make cookies and go to the gym with guests."I live here, so I'll be here," Chesky said in a video posted to his X account, which showed him taking photos of his home. "I did it 15 years ago, and I'm going to do it again."Demand for travel and experiences surgedCheky and journalist Kara Swisher at a February 2022 event. Jason Koerner /Stringer/Getty Images Airbnb recorded its first profitable year in 2022, with a $1.9 billion profit. It lost $352 million in 2021,Wall Street Journal.Countless other real-estate firms conducted mass layoffs due to the cooling housing market.Chesky at a 2022 event in New York City. Stefanie Keenan/Contributor/Getty Images In March 2023, Airbnb cut 30% of its recruiting staff, which represented just 0.4% of its total headcount of 6,800. "We're going to continue to grow, but we're going to grow modestly," CFO Dave Stephenson said in a February earnings call.His current net worth is $9.1 billion, per Forbes.Brian Chesky and comedian James Corden in Los Angeles in 2016. Stefanie Keenan/Contributor/Getty Images Forbes also ranked him as one of the most eligible billionaires in the world alongside Kim Kardashian and Elon Musk.Chesky hopes to expand Airbnb beyond short-term rentals and even travel, such as matching hosts with property managers and expanding the Experiences business.Brian Chesky speaks to the Economic Club of New York at a luncheon. REUTERS/Mike Segar "Why would Airbnb just offer homes? Why couldn't we offer significantly more things? And that's the future of this company," Chesky told Skift CEO Rafat Ali during the 2024 Skift Global Forum. "We're going to take the Airbnb model, and we're going to bring it to a lot of different categories."Sam Altman credits Chesky for advice that helped saved OpenAI and prevented Altman from making mistakes after the OpenAI CEO was briefly fired in 2023.Airbnb's Brian Chesky was reportedly one of the first people OpenAI's Sam Altman contacted when he was fired. Jemal Countess/Kent Nishimura/Getty Altman said Chesky, along with venture capitalist Ron Conway, helped him navigate challenges at OpenAI. "They stopped me from making several mistakes and made none themselves," Altman wrote in a blog post. "They used their vast networks for everything needed and were able to navigate many complex situations. And I'm sure they did a lot of things I don't know about.""I am reasonably confident OpenAI would have fallen apart without their help; they worked around the clock for days until things were done," he said. Chesky allows his employees to work from anywhere as long as they come into the San Francisco office once monthChesky pictured at Airbnb headquarters in San Francisco. REUTERS/Aron Ranen Chesky said in a 2025 Rapid Response podcast episode that difficult deadlines and regular progress checks are more important than demanding a return to office."I have a simple rule: we basically ask people to come to San Francisco one week a month," Chesky told host Bob Safian. "Some people come for just two or three days. Some people come for the full week.""I have not found a huge value in people being in the office all the time," Chesky said. "What I want is, for the most part, people coming to the San Francisco office, but I can't get everyone to move here to San Francisco, and I can't get them to fly here every week."Chesky helped popularize the term "founder mode." Brian Chesky on the floor of the NYSE in New York. BRENDAN MCDERMID/REUTERS But he said people have gotten the definition twisted.On an episode of The Verge's "Decoder" podcast the Airbnb CEO explained what he thought people were misunderstanding about it."First of all, people don't know what founder mode is," Chesky said on the podcast. "They think it means swagger. I remember a tweet that said, 'I'm going founder mode on this burrito.' I don't know what that means. That wasn't the message.""If I could summarize founder mode in a couple sentences, it's about being in the details," he said. "It's that great leadership is presence, not absence."Axel Springer, Insider Inc.'s parent company, is an investor in Airbnb.
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