Tony Xu
Who Is Tony Xu?
Tony Xu, born Xu Xun, is a Chinese-American billionaire businessman and the co-founder and Chief Executive Officer of DoorDash. He grew up washing dishes at the same restaurant where his mother worked. By December 2020, he rang the opening bell on the New York Stock Exchange as his company raised $3.4 billion in one of Silicon Valley’s most anticipated IPOs.
In 2026, he was listed on Forbes’ “Self-Made 250: The Greatest Living Self-Made Americans.”
His name was not always Tony. He legally changed it from Xu Xun to Tony Xu, inspired by his favorite television series, Who’s the Boss?, in which Tony Danza starred.
Early Life: Nanjing to Illinois
From Nanjing to the United States
Xu was born in Nanjing, China, in 1983 or 1984, and immigrated to the United States at the age of four. His parents — both academics — settled in Illinois.
His love for games wasn’t encouraged by his family because they wanted him to excel in education. His father worked toward a PhD. His mother took a job at a restaurant. Xu began working at an early age, at times washing dishes at the same restaurant where his mother worked.
He credits sports for helping him learn English when he first moved to the United States.
Education: UC Berkeley and Stanford
Xu earned his bachelor’s degree at the University of California, Berkeley, and his MBA at Stanford University’s Graduate School of Business in 2013.
He and his wife Patti met at church while they were undergraduates at Berkeley and married in 2013. The couple has two children.
Career Before DoorDash
Early in his career, Xu interned at Square, Inc., and worked for McKinsey & Company, eBay, and PayPal. Those years gave him exposure to payments infrastructure, logistics consulting, and e-commerce operations — the exact disciplines DoorDash would later depend on.
Founding DoorDash: From a Palo Alto Macaron Shop to a $100 Billion Platform
The Origin: Late 2012
It all started in late 2012, in a Palo Alto macaron shop. Xu and fellow Stanford student Evan Moore were conducting interviews with small business owners for a class project when a macaroon shop owner showed them her shoebox of delivery requests she could not fulfill. The problem was real. The solution was not yet built.
They brought in Andy Fang, an undergraduate in Stanford’s computer science program, who then brought in his classmate Stanley Tang. Together, the four of them realized a viable business model could be possible.
PaloAltoDelivery.com (2012) and DoorDash (2013)
Xu co-founded the delivery platform DoorDash in 2013 with Stanford classmates Andy Fang, Evan Moore, and Stanley Tang. The group had previously worked together to launch the predecessor delivery service PaloAltoDelivery.com in 2012.
Xu made deliveries himself in the early days. He took customer service calls. He swept restaurant floors. Every operational decision in DoorDash’s early years ran through direct, personal experience with the problem.
Evan Moore, who attended Stanford with Xu, Fang, and Tang, left the company after only 17 months. Xu, Fang, and Tang remained and built the company into a dominant global platform.
Building DoorDash: Milestones and Acquisitions
The IPO: December 2020
DoorDash had its IPO in December 2020, making Xu’s net worth an estimated $2.8 billion as of April 2021. The listing on the New York Stock Exchange raised $3.4 billion and valued the company at $72 billion on its first day of trading. Xu became a billionaire at the age of 36.
Wolt Acquisition: 2022 — $7.9 Billion
DoorDash agreed to acquire Helsinki-based food delivery platform Wolt in an all-stock transaction valued at approximately €7 billion in November 2021, with the deal closing in 2022. Wolt operated in 23 countries and the acquisition significantly expanded DoorDash’s international presence and last-mile logistics footprint.
Meta Board of Directors: January 2022
Tony Xu joined Meta Platforms’ board of directors in January 2022. The appointment placed him alongside Mark Zuckerberg at one of the world’s most closely watched corporate boards.
Deliveroo Acquisition: 2025 — $3.9 Billion
DoorDash agreed to acquire UK food delivery firm Deliveroo in a £2.9 billion ($3.9 billion) all-cash deal in May 2025. The acquisition was unanimously recommended by Deliveroo’s board. DoorDash offered 180 pence per Deliveroo share, a 44% premium over Deliveroo’s share price when takeover talks were made public.
The acquisition completed in October 2025, expanding DoorDash into the UK, Ireland, France and other European markets.
Xu stated at the time of announcement: “Our mission at DoorDash is to grow and empower local economies. We started the company in 2013 to help people like my mom — people running local businesses and creating the vast majority of jobs and economic activity in our communities.”
First Full-Year GAAP Profitability: 2025
DoorDash achieved first full-year GAAP profitability in 2025, with $935 million in net income. Q2 2025 revenue reached $3.28 billion, up 25% year over year, on 761 million orders, up 20% year over year.
2026: Market Dominance
As of February 2026, DoorDash commands 67% of the U.S. food delivery market, with Uber Eats at 23% and Grubhub below 10%. DoorDash surpassed $100 billion in annual gross order volume in 2025 and generated roughly $13.7 billion in revenue that year.
Philanthropy: The Giving Pledge
He and his wife Patti are signatories to the Giving Pledge. As signatories, he and Patti have made significant donations in support of Berkeley, Northwestern, and the Asian American and Pacific Islander (AAPI) community.
The Giving Pledge, founded by Warren Buffett and Bill Gates, commits signatories to donate the majority of their wealth to charitable causes during their lifetimes or in their wills.
Awards and Recognition
- Named to Fortune’s “40 Under 40” list in 2020
- Listed on Forbes’ “Self-Made 250: The Greatest Living Self-Made Americans” in 2026
- Led DoorDash’s December 2020 IPO, raising $3.4 billion
- Oversaw the $7.9 billion acquisition of Wolt (2022) and the $3.9 billion acquisition of Deliveroo (2025)
Personal Life
Xu and his wife Patti met at church while they were undergraduates at Berkeley and married in 2013. They live in San Francisco and have two children. Xu enjoys running and has previously competed in marathons.
Xu continues to be CEO and owns an approximately five percent stake in the company.
Quick Facts
| Detail | Information |
|---|---|
| Birth Name | Xu Xun (徐迅) |
| Professional Name | Tony Xu |
| Born | 1983 or 1984, Nanjing, China |
| Nationality | American (Chinese-born) |
| Education | UC Berkeley (BS); Stanford GSB (MBA, 2013) |
| Company | DoorDash (co-founder & CEO) |
| Co-Founders | Andy Fang, Stanley Tang, Evan Moore |
| Founded | 2013 (as PaloAltoDelivery.com, 2012) |
| IPO | December 2020, NYSE: DASH |
| Net Worth (2026) | ~$1.7–$2 billion (fluctuates with DASH stock) |
| Wife | Patti Xu (married 2013) |
| Children | 2 |
| Board Seat | Meta Platforms (from January 2022) |
| Philanthropy | Giving Pledge signatory |
| DoorDash U.S. Market Share | 67% (2026) |
DoorDash Milestones Under Tony Xu
| Year | Milestone |
|---|---|
| 2012 | Co-founded PaloAltoDelivery.com with Andy Fang, Stanley Tang, Evan Moore |
| 2013 | Rebranded to DoorDash; launched in Palo Alto |
| 2019 | Signed exclusive contract with Twitch (N/A — DoorDash exceeded Grubhub in U.S. market share) |
| 2020 | IPO on NYSE; raised $3.4 billion; Xu became a billionaire at 36 |
| 2020 | Named to Fortune’s “40 Under 40” |
| 2022 | Acquired Wolt for ~$7.9 billion; expanded to 23+ countries |
| 2022 | Joined Meta Platforms board of directors |
| 2025 | Acquired Deliveroo for $3.9 billion; entered UK, France, Italy, Singapore, UAE |
| 2025 | First full-year GAAP profitability: $935 million net income |
| 2025 | Surpassed $100 billion in annual gross order volume |
| 2026 | Listed on Forbes “Self-Made 250: Greatest Living Self-Made Americans” |
