Tony Hsieh Net worth: How much Wealth the Ex-Zappos had?

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Do You Know What is Tony Hsieh Net Worth: Learn the Story Here

If you aspire to be an entrepreneur, who would be your role model? The great Alon Musk? Jeff Bezos? Our Facebook creator Zuckerberg? Definitely, they are the best in their own field. They have reached the zenith of success with their hard work and passion. But amidst all of the popular names, we often miss some names that deserve to take a bow.

One of such names is Tony Hsieh. He was an American entrepreneur and venture capitalist at once. If you look at Tony Hsieh net worth, it has been estimated as $840 million. Unfortunately, this self-made entrepreneur died last year at a house fire. Let’s know the story of this interesting man.

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Tony Hsieh Net Worth: His Early Life

Before we delve into how did Tony Hsieh net worth reach this point, let’s have a look at his early life. These years are important as they shaped his character as an individual. So, how was his life before he established his name as a renowned entrepreneur and a venture capitalist?

Tony was born in Urbana, Illinois but soon moved to Marin County in California. His mother, Judy Hsieh was a social worker, whereas his father, Richard Hsieh worked as a chemical engineer. Tony’s early education was started at Branson school with two of his younger brothers. In the year 1995, Hsieh graduated from Harvard University with a degree in Computer Science.

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During his college days at Harvard, he began selling pizza to the students in his dorm. Alfred Lin had been one of his best customers. In the later period, this man became the chief financial officer and Chief Operating Officer of Zappos. After the college days are over, Tony started working for Oracle Corporation. From here, his career begins. Throughout his career, he managed to accumulate a huge wealth of $850 million. Let’s know how Tony Hsieh net worth was gathered.

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Tony Hsieh Net Worth: The Career is on Track

The first job Tony Hsieh joined was not his favorite one. He did not like the job much. Alongside the job, he spent significant time establishing a side project. Later on, he left Oracle to start his venture of an advertising agency called Link Exchange. It is an internet advertising exchange service, a brainchild of Tony Hsieh. Finally, after developing the idea for the venture, he founded the company with his friend.

The Link Exchange was all about rotating ads. Here, the agency Link Exchange allowed different websites to run ads for other businesses in exchange for their ads being displayed across the web. The journey of Link Exchange was begun in 1996. Later in the year 1998, the company was taken over by Microsoft for $265 million. With 1pprox 4 lac members and a daily rotation of 5 million ads, the company became one of the best advertising companies at that time.

After that, he started an investment firm called Venture Frog. The co-founder was Alfred Lin, the man he met at college while selling pizza. Some of the business’ investments by the company are OpenTable, Ask Jeeves and Zappos. At that time, it was not popular as Zappos. It was just a not-so-famous shoe retailer. Thus, the Venture Frog helped many start-ups to grow.

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In the year 1999, Tony received the idea of selling shoes online from the renowned Nick Swinmurn, who later became the co-founder of Zappos. Initially, Tony was not convinced with the idea. But when he came to know about the huge turnover of the shoe industry in the US, he planned to invest in it. Thus, with the Venture Frog, he invested in it, and gradually it became the popular Zappos.

A few months later, Tony joined the CEO of the company Zappos. Within one year of developing the idea, the company generated nearly $1 billion in revenue.

Tony Hsieh Net Worth: The Journey with Zappos

The major parts of Tony Hsieh net worth came from Zappos. So, it is important to know about the venture in detail. Here it goes. In the initial phases, Tony observed and learned how to provide the best experience to the customers when they go to buy shoes online. Even free shipping along with free returns was allowed with Zappos. In 2013, he re-thought the structure and re-organized it. Eventually, the company, which began as a simple shoe retailer, was listed as one of the best companies to work for in the prestigious “Fortune.”
The company became well-known for not only satisfactory salaries but also an excellent work environment for the employees. Also, it got massive applause for delivering excellent customer service. Later, the company was shifted to downtown Las Vegas. After few years, in 2009, Amazon took over Zappos for nearly $1.2 billion. As per the report, Hsieh earned nearly $214 million from the deal.
Finally, on August 24, 2020, Hsieh retired as the CEO of Zappos. We hope now you know how Tony Hsieh net worth was built. After the huge success of Zappos, he also joined other ventures like JetSuit. He joined as a member of the board of directors of the company in the year 2011. He invested approximately $7 million in the company.

Tony Hsieh Net Worth: His Literary Success and Real Estate Investment

Although Tony had been famous mostly as a businessman, he also achieved great literary success. His book named “Delivering Happiness” became one of the bestsellers in the New York Times. The position was retained by the book for nearly six months.

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Hsieh, later, founded the Downtown Project. It was a $350 million revitalization project which included cleaning up the area, bringing in businesses, schools, residences, and tech firms. In the year 2020, he reportedly paid $56 million for a group of residential projects in Park City, Utah.

Unfortunately, this man of talent could not live more. At a house fire in Connecticut in November 2020, he got severely damaged and died.

Final Words

So, these are all whereabouts of Tony Hsieh. Though his lifetime on earth was not that much, in that little time, he achieved the success which many cannot think of achieving even after 70 years spent on earth. Let us know how you liked the journey of Tony Hsieh net worth in the comment box. Also, if you want to know more about the inspiring entrepreneurs, click here to read the journey of Chris Sacca.

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