JD Claridge built his name in the drone world as the founder and CEO of xCraft, a company known for its innovative flying machines. Born and raised in Idaho, Claridge turned his passion for flight into a successful business venture. His background in electrical engineering and certified pilot skills gave him the perfect mix of know-how to create cutting-edge drone technology. But many people ask: what is JD Claridge’s net worth?
Let’s break down the numbers and see how this drone pioneer built his wealth.
Who is JD Claridge?
JD Claridge grew up in northern Idaho where he developed an early love for aviation. This passion led him to pursue electrical engineering education and obtain his pilot’s license. Combining these skills, he founded xCraft in 2014, a drone startup based in Coeur d’Alene, Idaho.
As both founder and CEO, Claridge leads the company’s development of hybrid drones – machines that can take off vertically like a helicopter but fly forward like an airplane. This unique approach to drone design caught attention quickly in the tech world.
Before starting xCraft, Claridge worked as an aerospace engineer at companies including Quest Aircraft, where he gained valuable experience in aircraft design and manufacturing. His technical background and personal equity stake in xCraft form the foundation of his personal wealth today.
Entrepreneur
As an entrepreneur in the drone technology space, JD Claridge spotted a gap in the market for versatile, efficient unmanned aircraft. His leadership at xCraft since 2014 has centered on developing drones that combine the best features of quadcopters and fixed-wing aircraft.
Claridge’s biggest public breakthrough came when he appeared on the TV show Shark Tank in 2015 (Season 7). During this appearance, he and his business partner Charles Manning presented their drone technology and received offers from all five Sharks – a rare achievement in the show’s history. The Sharks offered $1.5 million for a 25% stake in the company, valuing xCraft at $6 million at that time.
This early validation helped establish Claridge as a serious player in drone technology and provided a starting point for estimating his wealth.
JD Claridge Net Worth
JD Claridge’s net worth is estimated at approximately $4-5 million as of 2024. This calculation combines his ownership stake in xCraft with his other assets and investments. Let’s break down how we arrive at this figure:
xCraft’s current valuation stands around $20-25 million based on their latest funding rounds and market position in the drone industry. As the founder, Claridge likely maintains about 15-20% ownership in the company after multiple funding rounds and equity dilutions. This gives his xCraft equity a value between $3-5 million.
The calculation looks like this:
- Company valuation: $20-25 million
- Claridge’s estimated ownership: 15-20%
- Equity value: $3-5 million
This estimate places Claridge in the mid-tier range among drone technology CEOs and founders. While not reaching the wealth levels of major tech giants, his net value reflects successful entrepreneurship in a specialized tech field.
Compared to other drone-tech CEOs, Claridge’s wealth is substantial for a company of xCraft’s size. The average net worth for founders of similar-sized drone startups typically ranges from $2-8 million, putting Claridge within the expected range for his industry and company stage.
Career
JD Claridge’s path to building his wealth includes several key milestones that boosted both his company’s value and his personal net worth:
- He founded xCraft in 2014, starting with personal savings and early angel investments. This initial company creation established his first significant asset.
- In 2015, before appearing on Shark Tank, Claridge successfully raised $2.1 million in venture funding. This early funding round validated his business concept and increased the company’s valuation.
- The Shark Tank appearance in 2015 resulted in a deal with all five Sharks for $1.5 million. This publicity and investment dramatically increased both the company’s profile and value.
- Claridge obtained FAA Designated Engineering Representative (DER) certification, allowing him to approve aircraft designs for the Federal Aviation Administration. This rare credential added both to his earning potential through consulting and to xCraft’s credibility.
- His innovations in hybrid Vertical Take-Off and Landing (VTOL) technology led to multiple patents, creating intellectual property assets that contribute to his overall wealth.
Features in major tech publications like TechCrunch and Business Insider further established Claridge’s reputation as a drone industry leader, indirectly supporting company growth and his career earnings.
Income Sources
JD Claridge’s wealth comes from multiple streams rather than just one source. This diversification helps create financial stability beyond just his company salary.
His primary income source is his xCraft salary and possible dividends as CEO and founder. While startup CEOs often take modest salaries in early years to reinvest in growth, this likely provides a steady income base.
Equity appreciation represents his largest potential wealth source. As xCraft grows in value, so does Claridge’s ownership stake – though this wealth remains mostly on paper until a company sale or public offering.
Consulting fees provide additional income. With his specialized FAA DER certification, Claridge can charge premium rates for consulting on aircraft design and certification – work he can do outside his CEO duties.
Speaking engagements at drone and tech conferences create another revenue stream. As an established name in the drone industry, Claridge likely commands fees for sharing his expertise at industry events.
Patent royalties may generate ongoing income. The intellectual property Claridge developed, particularly around hybrid VTOL technology, can create licensing opportunities that add to his wealth over time.
Assets
Real estate likely forms a significant portion of his wealth outside the company. Property records suggest he owns his primary residence in Idaho, and possibly additional investment properties that generate rental income and appreciation.
His investment portfolio probably includes stocks focused on technology and aerospace sectors – areas where his expertise gives him insight into potential growth companies. Typical tech entrepreneurs often allocate 20-30% of their non-business assets to public market investments.
As a pilot and drone developer, Claridge owns specialized equipment that holds value. This might include drones, aircraft parts, testing equipment, and possibly shares in a private aircraft or flying club membership.
Intellectual property in the form of patents represents another valuable asset class. Claridge has developed multiple innovations in drone technology that have been patented, creating long-term value beyond xCraft itself.
Cash reserves and retirement accounts round out his wealth profile, providing liquidity and long-term financial security beyond his business ventures.
House
JD Claridge’s primary residence is located in Coeur d’Alene, Idaho, near xCraft’s headquarters. The local real estate market in this scenic lake area has seen strong appreciation in recent years.
Based on property records and local market conditions, his home likely falls in the $600,000-$800,000 range – a significant but not extravagant property for a successful tech entrepreneur. The home’s value forms an important part of his overall net worth calculation.
The property appears to be a modern family home with enough space for both personal living and possibly a home office for his engineering work. Like many tech entrepreneurs, Claridge seems to have chosen a balance between comfortable living and avoiding overspending on housing.
Real estate in the Idaho panhandle has appreciated significantly since Claridge likely purchased his home, meaning this asset has probably grown in value and strengthened his overall financial standing over time.
Lifestyle
JD Claridge maintains a relatively modest lifestyle compared to many tech entrepreneurs of similar success levels. This spending approach allows him to reinvest in his business while building personal wealth.
His family life includes his wife and children, who appear occasionally in company materials and local media coverage. Family activities often center around Idaho’s outdoor opportunities, reflecting a lifestyle connected to the region’s natural beauty.
Aviation remains both a profession and passion. As a licensed pilot, Claridge spends time flying – an activity that connects to both his personal interests and professional development. This hobby, while expensive, directly benefits his work in drone technology.
Travel for business takes Claridge to tech hubs and drone industry events. These trips combine work purposes with opportunities to connect with other innovators in his field. His social media occasionally shows him at industry conferences and testing sites around the country.
His day-to-day life balances running xCraft with family time and continued learning in aerospace engineering. Rather than flashy displays of wealth, Claridge appears to focus on sustainable growth both for his company and personal finances.
Key Takeaways
JD Claridge built his approximately $4-5 million net worth primarily through founding and growing xCraft, the drone technology company he started in 2014.
His wealth comes from multiple sources – company equity, salary, consulting work, and investments – creating financial diversification beyond just his business.
Compared to other drone technology entrepreneurs, Claridge’s wealth reflects successful growth in a specialized market without reaching the extreme valuations seen in some consumer technology companies.
His approach to wealth building appears balanced between business reinvestment and personal financial security, with modest lifestyle choices relative to his success level.
Future growth in Claridge’s net worth will likely depend heavily on xCraft’s continued expansion, potential acquisition, or public offering – events that could significantly increase the value of his company equity.
For anyone interested in entrepreneurship in the drone or aerospace fields, Claridge’s path shows how specialized technical expertise combined with business acumen can create substantial personal wealth while advancing innovative technology.