Vassil Terziev Net Worth: Estimated Wealth and Sources

As of May 2026, the best-supported estimate for Vassil Terziev's net worth places him somewhere in the range of $20 million to $50 million, with the lower bound anchored by what can be reasonably inferred from his share of the $262.5 million Telerik acquisition in 2014, and the upper bound accounting for his subsequent venture capital activity, board positions, and investment portfolio built over more than a decade. No official public disclosure exists, so this is an informed estimate, not a confirmed figure. The widely circulated PeopleAi figure of $366,000 is almost certainly wrong and should be ignored for reasons explained below.

Who Vassil Terziev is (and why disambiguation matters here)

The Vassil Terziev this article covers is Vasil Aleksandrov Terziev, born June 9, 1978, a Bulgarian tech entrepreneur, venture capitalist, and politician who currently serves as the Mayor of Sofia. He holds a degree from the American University in Bulgaria (AUBG, class of 2001) and is best known internationally as a co-founder of Telerik, the Bulgarian software company he built alongside Svetozar Georgiev, Boyko Iaramov, and Hristo Kosev. Progress Software acquired Telerik in late 2014 for $262.5 million, at which point Terziev transitioned to the role of Chief Innovation Officer at Progress. He later became a Managing Partner at Eleven Ventures, a Sofia-based venture capital firm focused on Southeastern European startups. Forbes Bulgaria has profiled him as a leading Bulgarian business angel, reporting investments across more than 40 companies. He also held a board seat at MacStadium from June 2017 and served as Co-Chairman of Endeavor Bulgaria's board before stepping down from that co-chair role in January 2020 while remaining an active board member.

The disambiguation point is important for this site's readers: there is no other prominent Eastern European public figure named Vassil Terziev with a comparable profile. Variant spellings (Vasil, Wassil) all refer to the same person. When you see him described as Sofia's mayor, the Telerik co-founder, a Progress Software executive, or a partner at Eleven Ventures, these are all the same individual. Any net worth estimate should be tied to this specific professional and political identity, not to any other person sharing a similar name.

The best current net worth estimate

Working from the available evidence, a reasonable net worth range for Vassil Terziev as of May 2026 is $20 million to $50 million. The most concrete anchor is the Telerik acquisition. Progress Software paid $262.5 million in aggregate for Telerik, and Terziev is named as one of four co-founders and appears in the SEC transaction documentation as a named party. If the co-founders held broadly comparable equity stakes (which is not confirmed publicly), a rough allocation would imply tens of millions in gross proceeds before taxes, legal fees, and dilution from investors. The exact personal payout is not disclosed anywhere in public records, which is why the range is wide.

Since 2014, his wealth picture has been shaped by his VC career at Eleven Ventures, which closed a $67.6 million fund in January 2022, and by his angel investing activity across 40-plus companies. Some of those portfolio companies will have generated returns; others will not. There is no public accounting of his Eleven Ventures carry, management fees, or individual investment returns. His role as Mayor of Sofia since late 2023 comes with a public-sector salary that is a very small factor in the overall picture.

The PeopleAi figure of $366,000 published for May 2026 is not credible. PeopleAi's own disclaimer states that its figures are calculated from social factors and should be used only as guidance. For someone who was a named party in a $262.5 million tech acquisition, a $366,000 estimate is inconsistent with the underlying transaction evidence by several orders of magnitude. Treat it as a placeholder generated by an algorithm, not as a researched figure.

How net worth estimates are calculated (and why the numbers vary)

Net worth is assets minus liabilities. The best way to evaluate Vassil Stepánov net worth is to compare claims against verifiable transactions and filings, since many popular estimates are speculative vasiliy stepanov net worth. For a private individual like Terziev who has never published a personal financial statement, analysts build the estimate from observable evidence: acquisition proceeds from documented deals, known equity positions, VC fund involvement, real estate holdings in public registries, and any financial disclosures required by public office. The problem is that most of these inputs for Terziev are either not public, partially public, or require inference.

1. Start with the largest known transaction: the $262.5 million Telerik acquisition. Estimate each founder's approximate equity share based on available context (founding role, any disclosed fundraising dilution, SEC filings). This gives a gross proceeds floor.
2. Subtract estimated taxes (Bulgarian and potentially US capital gains taxes depending on deal structure), legal and advisory fees, and any earnout conditions that may have reduced the headline figure.
3. Add known post-acquisition activity: VC fund stakes, carried interest potential from Eleven Ventures' $67.6M fund, board compensation from MacStadium and other roles, and angel investment returns where exits are documented.
4. Account for property and other assets using Bulgarian national property registries and any public disclosures filed as a result of his mayoral position.
5. Subtract known or inferred liabilities (mortgages, business loans, fund capital commitments).
6. Apply a confidence discount for the significant portion of the picture that remains private or undisclosed.

Estimates vary because step one (the acquisition split) is the biggest unknown. If Terziev held 30% equity pre-dilution, his gross proceeds would approach $75 million. If dilution from venture rounds reduced that to 10%, the gross figure drops to around $26 million. Neither number is publicly confirmed. Different analysts make different assumptions at this step, which explains why you can find wildly inconsistent figures online. The Anti-Corruption Commission in Bulgaria investigated his shareholding in a joint-stock company in late 2025 and found no violations, which confirms he holds corporate equity but adds no specific valuation.

Where the money comes from: the wealth sources in detail

Telerik: the foundational wealth event

Telerik was the defining wealth event. Founded in 2002, the company grew into one of Eastern Europe's most successful software firms before Progress Software acquired it for $262.5 million, announced October 22, 2014, and completed in December 2014. The SEC Form 8-K for the transaction names Vassil Terziev among the seller parties. Even after dilution from investors and post-signing adjustments, this deal almost certainly delivered a multi-million dollar payout to each of the founding team. This remains the strongest single data point for any net worth estimate.

Eleven Ventures and the VC career

After his stint as Chief Innovation Officer at Progress Software, Terziev moved into venture capital as a Managing Partner at Eleven Ventures. The firm focuses on Southeastern European startups and closed its most recent publicly reported fund at $67.6 million in January 2022. As a managing partner, Terziev would typically earn management fees (usually around 2% of AUM annually) and a carried interest share (typically 20% of profits above the hurdle rate) when portfolio companies generate exits. The firm's track record and the specific breakdown of his personal economics within the partnership are not publicly disclosed.

Angel investing across 40-plus companies

Forbes Bulgaria, as republished by AUBG in 2019, described Terziev as a prolific Bulgarian business angel with investments in more than 40 companies. Angel investing at this scale, especially when it follows a major liquidity event like the Telerik sale, can compound wealth significantly if even a few portfolio companies achieve meaningful exits. The specific companies, investment sizes, and current valuations are not public, so this channel contributes to the uncertainty in the overall estimate rather than narrowing it.

Board roles and advisory positions

Terziev joined MacStadium's board of directors in June 2017 and served as Co-Chairman of Endeavor Bulgaria's board before stepping back from the co-chair role in January 2020. Board positions at growth-stage tech companies typically include equity compensation, cash retainers, or both, though the specific terms for these roles are not disclosed. These are supplementary wealth contributors rather than primary ones.

Public office as Mayor of Sofia

Since his election as Mayor of Sofia in late 2023, Terziev has been an active public figure managing the city's infrastructure, public transport, and administrative affairs. Bulgarian mayors are required to file annual asset declarations, which in principle provide a partial window into property ownership, financial accounts, and corporate shareholdings. His public salary as mayor is a matter of public record but is not a meaningful driver of his net worth relative to his business history.

Comparison: what similar figures look like

The comparison helps calibrate the estimate. Terziev is in a different wealth tier than a large-scale oligarch like Vasil Bozhkov, whose gaming business generated hundreds of millions and whose assets became partially visible through legal proceedings. Terziev's wealth profile looks more like a successful tech founder who monetized a major exit and reinvested into the startup ecosystem, which is a distinct category from the political-business oligarch networks this site more frequently covers.

Where to verify the numbers yourself

If you want to pressure-test this estimate or find updated figures, here is where to look:

• Bulgarian Anti-Corruption Commission (KPKONPI): Annual asset declarations filed by public officials including the Mayor of Sofia are published here. They cover property, vehicles, financial accounts, and corporate shareholdings. This is the most direct primary source for Terziev's declared assets.
• Bulgarian Commercial Register (Търговски регистър): Search for corporate entities linked to Terziev to see shareholdings, company valuations, and any associated financial filings.
• US SEC EDGAR: Search for Progress Software Corporation's Form 8-K filings from October and December 2014 to find the original Telerik acquisition documents, which name Terziev and confirm the $262.5 million transaction price. This is the closest you will get to a primary document for his acquisition proceeds.
• Eleven Ventures public communications and LinkedIn: Managing partner profiles and fund announcements give partial insight into AUM and investment activity.
• Bulgarian and regional business press (Capital.bg, Forbes Bulgaria, Dnevnik): These outlets have historically profiled Terziev and occasionally report on specific investments or asset-related news.
• BTA (Bulgarian News Agency): Tracks ongoing political and business developments involving Terziev in his capacity as Sofia mayor, including any investigations or transparency disclosures.

When reading any third-party net worth figure, check whether it cites the acquisition transaction, a specific company registry, or a court/regulatory filing. If the source is a social-factor calculator or an entertainment celebrity database, the figure is almost certainly unreliable for a tech founder and public official of this profile.

Recent updates and what they mean for the estimate

The most relevant recent development is the Anti-Corruption Commission investigation completed in late 2025. According to BTA's English-language reporting, the commission found no violations regarding Terziev's shareholding in a joint-stock company. This matters for the net worth picture in two ways: it confirms he continues to hold corporate equity (consistent with an active investor profile), and it clears any legal cloud that might have complicated valuation or asset accessibility. No forced divestiture or asset freeze resulted from the investigation.

On the political side, Terziev has been active in 2025 and into 2026 managing Sofia's public finances, including announcing a public transport single-ticket price plan and responding to separate corruption allegations related to Sofia Municipality. None of these developments have produced public disclosures that materially change the underlying wealth estimate, but the ongoing media and regulatory attention means his asset declarations are more likely to receive scrutiny and eventual public coverage than would be the case for a purely private citizen.

Eleven Ventures' most recently reported fund closed at $67.6 million in January 2022. If the firm has raised a subsequent fund since then, or if notable portfolio exits have occurred, those would be the events most likely to move the upper end of the estimate meaningfully. As of May 2026, no public announcements of a new Eleven Ventures fund or a major portfolio exit have surfaced in accessible reporting, so the $20 million to $50 million range remains the most defensible estimate based on current evidence.

The honest bottom line: Vassil Terziev is a genuinely wealthy Bulgarian tech entrepreneur whose primary wealth event was the 2014 Telerik acquisition. If you're wondering about Vassil Terziev's net worth, the most defensible way to think about it is through that 2014 deal and what followed in venture investing. The specific number is private, the range is wide, and anyone claiming precision here is working with less data than they are letting on. The $20 million to $50 million range reflects what the transaction evidence and career profile can reasonably support, and it should be revised upward if Eleven Ventures portfolio exits or new fund activity become public, or downward if his mayoral asset declarations reveal a more modest picture.