Shane Smith, a former billionaire and head of the Canadian media, was born on September 28, 1969. He serves as Vice Media’s executive chairman and is in charge of the company’s global internet channel network, TV production studio, record label, in-house creative services agency, book publishing imprint, and film production division.
From the company’s start in 2004 until March of this year, Smith served as CEO of Vice. Former A+E Networks CEO Nancy Dubuc was appointed CEO on March 13th, 2018.
Shane Smith Net Worth
Shane Smith, a Canadian-American author and entrepreneur, has a fortune of $50 million. As one of the company’s co-founders, Shane Smith rose to fame and fortune. During his prime, Shane amassed a billion bucks.
His net worth first crossed $1 billion after the company received $450 million in June 2017 at a $5.7 billion valuation. The value of Shane at that time was $1.6 billion because to his 28% ownership.
The end goal for Vice was to go public. Unfortunately, Vice was reportedly on the edge of bankruptcy by May 2023, thus it never happened. Vice magazine was first published as a publication for the punk subculture, but it has since expanded its scope to embrace other subcultures’ music, art, journalism, and fashion.
Beginning in the 2000s, it started to grow into a media empire. The company was founded by Suroosh Alvi, Gavin McInnes, and Shane. 2007 Gavid left the company due to creative concerns, and was later purchased out for $10–$20 million.
You can also read about the fortunes of other famous celebrities by clicking the links given below:
- Sam Altman Net Worth: Is The CEO Of OpenAI A Billionaire?
- Candy Spelling Net Worth: How Much Property Does She Own?
Eventually, the VICE brand expanded into other forms of media, including music, literature, television, and film. He served as the co-host of the HBO program “VICE” and a journalist for VICE, where he wrote on Iran, Russia, and Liberia. In this show, Smith and other VICE reporters are trailed across the globe.
How Much Did Shane Smith Make From Vice’s Funding Round?
Vice has raised more than $1 billion since 2011. When Vice raised about $500 million over two rounds in 2014 and 2015, Shane Smith sold $100 million worth of his own shares.
Shane and his then-wife Tamyka spent $23 million purchasing a home in Santa Monica, California, in 2015. They are accused of never having set foot on the 3.35-acre property and making the purchase without first viewing it. In this home, the dramatic gunfight from “Beverly Hills Cop” took place.
Shane and Tamyka did really well on this buy. In the midst of their alleged divorce, they sold the Santa Monica home in April 2021 for less than $49 million. In May 2021, Shane paid $11.7 million for a house in Malibu, California.
You can also follow us on our Twitter handle to be in check with all the current happenings.
