American businessman, writer, and venture capitalist Tony Hsieh. Tony was most recognized for leading Zappos, an online retailer of shoes, with vision. Following his accomplishment, he penned the best-selling book “Delivering Happiness” about it. In his later years, he concentrated on changing downtown Las Vegas.
Tony Hsieh Net Worth
Tony Hsieh Net Worth was $850 Million at the time of his de@th. 1973 saw the birth of Tony Hsieh in Illinois, but the family soon relocated to California. He graduated with a degree in computer science from Harvard University after attending Branson High School in Ross, California.
LinkExchange Founded By Tony Hsieh
Oracle was the site of Tony’s first job after college. He spent the most of his time thinking of side projects because he did not like his current employment.
Tony immediately departed Oracle to work on his idea for a service that would swap online advertisements. In the end, he and a friend formed a business called LinkExchange. LinkExchange allowed businesses to display their adverts across the web in return for having their ads displayed on websites.
The LinkEchange network would display their own adverts more frequently the more advertisements a site displayed. By 1998, when Microsoft paid $265 million to buy the company, LinkExchange had 400,000 subscribers and was rotating 5 million ads daily.
Tony was supposed to continue working for Microsoft in order to get more compensation under the conditions of the buyout. He departed Microsoft with tens of millions of dollars in potential future rewards on the table after reportedly growing weary of “resting and vesting”.
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VentureFrogs By Tony Hsieh
Then, Hsieh and Alfred Lin created Venture Frogs, an investment company. OpenTable, Ask Jeeves, and—most significantly—a little-known shoe shop who would soon be known as Zappos were among the investments made by the company.
Amazon Bought Zappos
Amazon acquired Zappos in an all-stock deal on July 22, 2009. The transaction involved 10 million Amazon shares, which on the day the purchase was announced were worth $1.2 billion. According to reports, Tony Hsieh made $214 million from his personal investment in the business and an additional $100–200 million from his VentureFrogs ownership.
For your information, 10 million Amazon shares are currently valued $32 billion. Tony’s investment would be worth $9.6 billion today assuming he received about 3 million Amazon shares as part of the deal and never sold any. Tony’s net worth was never formally established to be over $1 billion, thus he must have sold most of his interest. We pegged Tony Hsieh’s net worth at $850 million at its height.
In August 2020, Tony retired from his position as CEO of Zappos. He had spent 21 years working for the corporation in some capacity.
Real Estate Of Tony Hsieh
Tony was well-known for residing in a trailer park for at least a portion of his time in Las Vegas. The Amazon sale brought in hundreds of millions of dollars before this. He also has a house in the suburbs of Las Vegas.
In August 2020, Tony reportedly paid $56 million for a collection of homes in Park City, Utah.
Tony Hsieh De@th
Tragically, Tony passed away in a house fire on November 27, 2020, at the age of 46, while spending the Thanksgiving holiday with relatives in Connecticut.
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