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What is Russell Weiner’s net worth?
Russell aka “Russ” Weiner is an American entrepreneur who has a net worth of $4 billion. Russell Weiner earned his net worth by being the founder, creator and CEO of the Rockstar Energy Drink firm. From the corporate’s inception till 2014, Russ Weiner owned 85% of Rockstar and his mom Janet – an early investor and longtime CFO – owned the remaining 15%. Russ first formally hit billionaire standing in 2014 when Rockstar earned a valuation $1.8 billion. Rockstar is at the moment the third most-consumed vitality drink within the United States with annual gross sales north of $800 million. Rockstar is quantity three behind Monster and Red Bull. In March 2020, Rockstar was acquired in full by Pepsico for $3.85 billion in money.
Early Life
Russ Weiner’s father a well known conservative radio persona and speak radio host named Michael Savage. Russ was born in 1970 and grew up within the San Francisco Bay Area. He attended Redwood High School in Marin County, adopted by San Diego State University.
Rockstar
Prior to founding Rockstar, Weiner landed a enterprise growth place at Skyy Vodka after randomly assembly firm founder Maurice Kanbar. After a 12 months at Skyy, Weiner stop to begin Rockstar. He had tried to persuade his higher-ups at Skyy to create an vitality drink to rival Red Bull however was rejected. So he determined to launch the rival vitality drink on his personal.
He tried to boost startup cash from banks and enterprise colleagues however got here up empty. Russ finally determined to mortgage his rental in Sausalito, California to boost $50,000 startup prices. Most importantly, his mom Janet additionally kicked in some funds of her personal and was rewarded with a 15% stake within the firm.
Russ and Rockstar’s main innovation was easy:
A Bigger Can
Russ had at all times been pissed off by the truth that Red Bull solely got here in 8 ounce cans. After testing greater than 700 variations of the long run drink, the ultimate formulation was chosen and Rockstar’s cans hit the cabinets with 12 ounces of liquid in every can.
In 2001 Russ purchased a black limo, painted his brand on the aspect and commenced driving round providing the drink everywhere in the Bay Area.
The drink was almost an on the spot success.
(Photo by Ethan Pines/Forbes Collection/Corbis through Getty Images)
Pepsi Acquisition
By the late 2000s, the corporate was producing over $100 million per 12 months in income. By 2014 the corporate was valued at $1.85 billion. At that stage, Russ’ 85% fairness stake was price $1.6 billion on paper, earlier than taxes.
In March 2020 Russell bought Rockstar to Pepsi for $3.85 billion. Based on earlier transactions, after this sale Russell’s net worth topped $4 billion.
Remember how Russell’s mother was given 15% of Rockstar in trade for her early help? At the Pepsi sale Janey walked away with $525 million.
Russell Weiner Real Estate
Russell is a completely prolific actual property investor and flipper. Over the final decade he has flipped a whole bunch of thousands and thousands of {dollars} price of actual property. Add all of it up and Russ Weiner’s present actual property portfolio (that we find out about) is price at the least $150 million. Here are some fast highlights:
In October 2012, Russell Weiner sold his Palm Island Miami mansion to rapper Birdman for $14.5 million. Weiner purchased the home out of foreclosures from financially-troubled music producer Scott Storch. Scott Storch paid $10 million for the home in 2006, Weiner purchased it for $6.75 million in 2010. Russ flipped it two years later to Birdman for $14.5 million, greater than doubling his authentic funding. Birdman tried to promote the house in 2018 for $20 million. He finally needed to settle for a $10.9 million supply in November 2020.
In 2013 Russell spent $10 million to purchase a beachfront house in Hermosa Beach, California. In March 2019 he listed this property for $21 million. He finally accepted $14.3 million for this property.
In September 2019 Russ paid $16.5 million for a 12,500 square-foot mansion within the Hollywood Hills. Russ appears to have a knack for mansions at rock-bottom costs, as a result of this home had really been purchased three years prior for $27 million. At the time of buy Russ owned at the least 4 different Los Angeles properties together with TWO estates within the ultra-exclusive guarded space of Beverly Park. He bought his first Beverly Park mansion for $15 million in 2007 and the second for $18.6 million in 2015. He additionally owns Madonna’s former Sunset Boulevard compound which he additionally purchased in 2015 for $19 million.
In May 2022 Russ paid $39.6 million for an unbelievable 17,500 square-foot mansion in Park City, Utah. The sale set the report for costliest house bought in Utah historical past. Weiner by no means really slept within the mansion. He spent roughly a 12 months performing a handful of further upgrades and renovations earlier than itemizing the house on the market in February 2023 for $50 million. Here is a video tour proper after the mansion was accomplished, just a few months earlier than Russell acquired it:
All web worths are calculated utilizing knowledge drawn from public sources. When supplied, we additionally incorporate non-public ideas and suggestions acquired from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as potential, except in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button under.
