How did ryan smith make his money

Published: 14 October 2026 Ryan Smith’s journey to becoming a billionaire is primarily rooted in his role as the co-founder and former CEO of Qualtrics, an experience management software company. Smith launched the business in 2002 alongside his father and brother in a basement in Provo, Utah. Under his leadership, the company revolutionized how businesses collect and analyze customer and employee feedback. The pivotal moment in his financial trajectory occurred in 2019 when SAP acquired Qualtrics for $8 billion in an all-cash deal. This transaction provided Smith with the significant capital necessary to pivot into professional sports ownership. In 2020, he purchased the NBA’s Utah Jazz for approximately $1.66 billion. Since then, he has further expanded his portfolio by founding Smith Entertainment Group, which successfully secured an NHL expansion franchise for Utah in 2024. His wealth continues to grow through strategic investments in technology, real estate, and sports infrastructure, solidifying his status as a prominent figure in both the tech industry and the professional sports landscape.