LeapFrog Co-Founder Mike Wood Dies at the Age of 72 — A Look at His Net Worth

On April 10, 2025, Mike Wood, co-founder of LeapFrog Enterprises, passed away in Zurich, Switzerland. His tragic death was confirmed by his brother, Tim, in a statement to The New York Times.

He was 72 years old.

As we await further details about his passing, let's take a moment to reflect on Mike's life and legacy. One question that frequently comes up is: What was Mike Wood's net worth at the time of his death? Here's everything you should know.

As of now, Mike Wood's exact net worth isn't publicly confirmed. However, GuruFocus estimates he was worth at least $2 million at the time of his death in early April 2025.

That figure definitely seems surprisingly low for someone whose LeapFrog toys helped an entire generation of children learn to read! Mike co-founded LeapFrog Enterprises, which revolutionized educational toys with the launch of the LeapPad in 1999 — a talking book-style tablet for children. It became a massive success, topping toy sales during the 2000 holiday season and making LeapFrog one of the fastest-growing companies of its time.

Despite the company's momentum, Mike chose to step away relatively early. He retired in 2004 at the age of 51 when LeapFrog had about 1,000 employees.

Reflecting on that decision in 2013, he told The Wall Street Journal, "In 2003, we had 1,000 employees, $650 million in revenue, $60 million in earnings, and I had a headache every day. There would be four or five problems on my desk every day that had no good answer — you had to pick the least worst answer."

After LeapFrog, Mike went on to launch and later sell another education-focused venture called SmartyAnts, an online reading program — adding further to his financial success.

But for Mike, it was never just about the money. In his later years, he volunteered as a teacher at a local school where more than half the students were from socioeconomically disadvantaged backgrounds. His passion was personal, driven by his own experience helping his son Mat, who had trouble learning to read and sound out letters as a toddler.

When speaking with The New York Times, Tim Wood revealed that Mike had been living with Alzheimer's. Before the disease progressed any further, Mike made the heartbreaking decision to end his life at Dignitas, a nonprofit in Switzerland that provides physician-assisted suicide. He was surrounded by family in his final moments.

Following the news, LeapFrog's official Instagram account shared a heartfelt tribute: "We are saddened by the loss of LeapFrog founder, Mike Wood. He was an innovative leader whose passion to find a new way to help his child learn led to something remarkable.⁣"

"His passion was transformed into a company that has helped millions of children learn to read, and so much more," the company continued. "We loved working with Mike and are honored to continue what he started.⁣"

Our thoughts are with Mike's loved ones during this incredibly painful time.