What was Tony Hsieh Net Worth in 2020? Complete Breakdown
Grab all the details you need to know about the net worth and earnings of the American entrepreneur and venture capitalist Tony Hsieh.
American entrepreneur and venture capitalist Tony Hsieh passed away on November 28, Friday, peacefully and surrounded by family, as per a report by CNN. His passing resulted from the injuries he sustained in a house fire that occurred in Connecticut while he was visiting family there. 'Tony's kindness and generosity touched the lives of everyone around him, and forever brightened the world,' said a statement released by his family.
Tony Hsieh was the CEO of the online shoe and clothing company Zappos, from which he had retired in August 2020 after 21 years of managing the company. He also co-founded the Internet advertising network LinkExchange, which he sold to Microsoft in 1998. Many people wish to know how much net worth he held during his lifetime; therefore, we compiled some details of his wealth and earnings in the sections below.
How Much Net Worth Did Tony Hsieh Hold in 2020?
According to Celebrity Net Worth, Tony Hsieh held an estimated net worth of $850 million before his death on November 27, 2020. Best known as the visionary CEO of online shoes sales company Zappos, the majority of his earnings came from it, where he worked for over 21 years before retiring in August 2020. He also co-founded the Internet advertising network LinkExchange, which he sold to Microsoft in 1998 for $265 million.
Tony Hsieh held an estimated net worth of $850 million before his death on November 27, 2020.
Source: The Independent
Tony Hsieh joined Zappos, which was called ShoeSite.com at the time, directly as the CEO of the company. In ten years of his management of Zappos, company's revenues increased to $1 billion. In 2009, Amazon bought Zappos, but Hsieh still remained as its Chief Executive until his retirement in August 2020. The deal included 10 million shares of Amazon, which equated to $1.2 billion on the day the deal was announced.
From the sale of Zappos to Amazon, Tony earned $214 million through his personal stake in the company, and an additional $100-$200 million from his VentureFrogs stake. Today, the 10 million shares of Amazon would be worth $32 billion. And the 3 million shares Tony received through the acquisition would today be worth $9.6 billion today. But his net worth was never officially confirmed to be over $1 billion, so we believe he sold a majority of his stake.
Tony Hsieh Founded Two Companies Before Being the CEO of Zappos
Tony Hsieh worked at Oracle right after his graduation from Harvard University. But he soon left the company to develop an idea for an internet advertising exchange service. Using the idea, he created a company called LinkExchange, with the help of a friend. The company allowed websites to display ads for other businesses in exchange for their ads being displayed across the web. Microsoft purchased the company in 1998 for a price of $265 million.
Tony Hsieh created an advertising network called LinkExchange.
Source: Inc. Magazine
Afterward, Tony Hsieh co-founded the investment firm, Venture Frogs, with Alfred Lin. Some of the business' investments included OpenTable, Ask Jeeves, and, most importantly, a little-known shoe retailer that would soon be called Zappos.
Tony Hsieh Lived in a Vegas Trailer and Paid Less Than $1000 Per Month For It.
Most CEOs and wealthy people like Tony Hsieh, who are centimillionaires or billionaires, tend to live in enormous mansions worth millions of dollars. But Tony was different. He was never drawn to those extravagant lifestyles, even though he had the capacity to even but a whole island if he wanted to. Tony always preferred a simplistic lifestyle and lived by this philosophy.
Tony Hsieh lived in a Las Vegas Airstream trailer park in downtown Las Vegas, and paid only $950 monthly as rent for it.
Many people become surprised to learn that Tony Hsieh used to live in a Las Vegas Airstream trailer park in downtown Las Vegas. And he paid only $950 monthly as rent for it and found it comfortable to live in the 240-square-foot trailer home.
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'Right now, I live in an Airstream,' Tony talked about his home on an episode of NPR's 'How I Built This' podcast. 'I just love it because there's so many random, amazing things that happen around the campfire at night. I think of it as the world's largest living room.'
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