What is Greg Glassman’s net worth?
Greg Glassman is an American businessman and entrepreneur who has a net worth of $100 million. Greg Glassman is finest identified for being the co-founder of CrossMatch, Inc. He bought the corporate in June 2020 within the wake of a number of main controversies. Prior to the sale Glassman owned 100% the model after paying his co-founder, ex-wife Lauren Jenai, $20 million for her stake.
At the height of his reign, Crossfit was incomes roughly $50 million per yr in gymnasium licensing charges alone and $100 million complete from all earnings sources (Reebok sponsorship, tv licensing charges and merchandise). Glassman resigned as CEO in June 2020 within the wake of an insensitive assertion he made on Twitter associated to the loss of life of George Floyd. Every week later one other controversy involving sexism and sexual harassment was recounted in a bombshell New York Times article. He bought Crossfit to entrepreneur Eric Roza on June 24, 2020.
CrossMatch Founding
He began out his health profession working as a gymnastics coach at a Y.W.C.A. in California at 18 years outdated. Glassman would go on to coach celebrities and athletes in Southern California. He labored with law enforcement officials and realized that present exercise packages have been missing. In 1995 he was employed to coach the Police Department in Santa Cruz, CA. A yr later Glassman opened up the primary CrossMatch gymnasium in Santa Cruz. In 2001 he launched crossfit.com and in 2003 the CrossMatch affiliation program started.
He and ex-wife Lauren Jenai co-founded the health firm in 2000. They conceived of the branded health routine, initially referred to as “Cross-fit”, in 1996. The components of CrossMatch contain 9 basic actions woven collectively right into a exercise of the day (WOD). After divorcing, Glassman purchased Jenai’s share of the corporate for $20 million, utilizing a mortgage from Summit Partners.
U.S. Air Force photograph by 2nd Lt. Carly A. Costello/Released
As of 2009 there have been greater than 1,000 CrossMatch associates the world over. Fast ahead a decade and there have been 15,000 Crossfit gyms all over the world, every paying an annual payment to hold the “Crossfit” title. Crossfit gymnasium trainers are additionally required to pay to certify trainers.
Controversy
In June 2020 Greg made what many individuals interpreted as a racist comment over Twitter associated to the homicide of George Floyd and racial injustice. In response to the tweet, Reebok ended its 10-year contract with Crossfit that made the attire model the elusive licensee of Crossfit merchandise. Furthermore, numerous the sports activities most-famous athletes strongly rebuked Glassman. Several present athletes introduced that they’d not carry out on the 2020 Crossfit Games. Rogue Fitness, which provides power coaching tools for the Crossfit Games, introduced it could be eradicating the Crossfit brand from its merchandise on the 2020 occasion. Many gyms across the nation introduced they’d stop being “Crossfit” affiliated.
In response to the outcry, Glassman launched a press release which learn:
“I, CrossMatch HQ, and the CrossMatch neighborhood won’t stand for racism. I made a mistake by the phrases I selected yesterday. My coronary heart is deeply saddened by the ache it has brought about. It was a mistake, not racist however a mistake.“
Glassman resigned as CEO of Crossfit on June 10, 2020.
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