What is Robert Stiller’s net worth?
Robert Stiller is an American entrepreneur who has a net worth of $1.2 billion. Robert Stiller graduated from Parsons College and commenced his skilled profession within the 70s, promoting E-Z Wider rolling papers for cigarettes. He bought his enterprise in 1981 for simply over $3 million. He used a portion of the sale to buy a small espresso retailer in Vermont close to the place he vacationed every winter. He subsequently launched Green Mountain Coffee, shifting his focus from gross sales to manufacturing. Green Mountain grew quickly, at one level partnering with ExxonMobil to change into the unique espresso served in all ExxonMobil gasoline stations. The firm continued to develop, largely because of the launch of their Keurig Coffee System which was acquired over a number of transactions. He retired as CEO in 2007. In December 2015 Keurig Green Mountain was acquired by JAB Holding Company for $13.9 billion.
Green Mountain Coffee
In 1971, Stiller moved to Vermont and purchased a small espresso store in Waitsfield. He shortly realized that there was a requirement for high-quality espresso within the space, and he started roasting his personal beans behind the store. The espresso was successful, and Stiller expanded his enterprise by promoting beans wholesale to different espresso retailers and eating places within the space.
In 1981, Stiller based Green Mountain Coffee Roasters, which might finally change into one of many largest espresso firms on the earth. The firm initially centered on promoting whole-bean espresso to native companies, however Stiller noticed a possibility within the rising marketplace for single-serve espresso.
Keurig
Keurig (which suggests “excellence” in Dutch) was based in 1992 by John Sylvan and a former college roommate. John was a lifelong tinkerer and drawback solver who needed to invent a machine that might clear up the issue of workplace espresso machines being brewed, then dumped, then brewed and dumped once more. His answer was a single-serve espresso machine that inserted a espresso “pod” right into a machine and outputted a single cup of espresso.
In 1993, Green Mountain Coffee Roasters acquired a 35% stake in Keurig. Stiller acknowledged the potential of the know-how and labored with Keurig to refine the system and produce it to market.
The Keurig single-serve system was a game-changer for the espresso trade, and Green Mountain Coffee Roasters turned one of many fastest-growing firms in America.
John Sylvan was booted from the corporate after a conflict with administration in 1997. He bought his stake in Keurig for $50,000.
Green Mountain acquired a full possession stake in Keurig in 2006 for $104 million.
Stiller served as CEO of the corporate from 1981 till 2007, and he remained on the board of administrators till 2012.
In December 2015, Keurig Green Mountain was acquired by JAB Holding Company for $13.9 billion. The sale made Robert Stiller a billionaire.
Palm Beach Estate
In 2014 Robert paid $25 million for a 1.6 acre oceanfront property in Palm Beach Florida. The property includes a 24,000 sq. foot mansion.
In April 2023 Robert bought his Palm Beach property for $170 million. The sale set a file for the realm.
Robert’s quick subsequent door neighbor in Palm Beach from the time he moved in and on the time of his sale is Howard Stern. Howard and spouse Beth Ostrosky purchased their neighboring dwelling a 12 months earlier than Stiller for $52 million. Stern’s home is roughly twice the scale of Stiller’s each when it comes to sq. footage and acreage.
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