Las Weiner Net Worth
Number of divisions: 17
What is Russell Weiner’s net worth?
Russell aka “Russ” Weiner is an American entrepreneur with a net worth of US$4 billion. Russell Weiner gained net worth by becoming the founder, founder and CEO of Rockstar Energy Drink Company.
For many years, Las Weiner owned 85% of Rockstar, and his mother Janet (an early investor and long-term CFO) owned the remaining 15%. Russ first officially became a billionaire in 2014, when Rockstar was valued at $1.8 billion. Rockstar is currently the third most consumed energy drink in the United States, with annual sales of more than US$800 million. Rockstar ranks third after Monster and Red Bull. In March 2020, Pepsi-Cola acquired Rockstar in full for US$3.85 billion in cash.
early life
Russ Weiner’s father is a famous conservative radio celebrity and radio talk show host named Michael Savage. Russ was born in 1970 and grew up in the San Francisco Bay Area. He attended Redwood High School in Marin County, followed by San Diego State University.
Rock star
Before founding Rockstar, Weiner got a business development position at Skyy Vodka after randomly meeting with the company’s founder Maurice Kanbar. After working at Skyy for a year, Weiner resigned and founded Rockstar. He tried to persuade him to make an energy drink at Skyy’s superiors that could compete with Red Bull, but was rejected. So he decided to launch his own competitor’s energy drink.
He tried to raise start-up funds from banks and business colleagues, but was unsuccessful. Lars finally decided to mortgage his apartment in Sausalito, California, to raise $50,000 in start-up costs. Most importantly, his mother Janet also invested some of her own funds and obtained 15% of the company’s shares.
The main innovation of Russ and Rockstar is simple: Larger cans.
Russ has been frustrated with the fact that Red Bull only has 8 ounce cans. After testing more than 700 variants of the future beverage, the formula was finally selected, and Rockstar’s cans were put on the shelf, each containing 12 ounces of liquid.
In 2001, Russ bought a black luxury sedan, painted his logo on the side, and started serving drinks throughout the Bay Area.
This drink was almost an immediate success.
(Ethan Pines/Forbes Collection/Photo by Corbis via Getty Images)
Pepsi acquisition
By the late 2000s, the company’s annual revenue exceeded 100 million U.S. dollars. By 2014, the company was valued at US$1.85 billion. At this level, the pre-tax book value of Russ’s 85% stake is $1.6 billion.
In March 2020, Russell sold Rockstar to Pepsi for $3.85 billion. According to previous transactions, Russell’s net assets exceeded US$4 billion after the sale.
Remember how Russell’s mother got a 15% stake in Rockstar in exchange for her early support? In the sale of Pepsi, Jenny left at a price of 525 million U.S. dollars.
Russell Weiner Real Estate
Russell is an absolutely prolific real estate investor and flippers. In the past ten years, he has flipped real estate worth hundreds of millions of dollars. Here are some quick highlights:
In October 2012, Russell Weiner sold his mansion on Palm Island, Miami to the rapper Birdman for $14.5 million. Weiner bought the house from Scott Storch, a financially troubled music producer. Scott Storch bought the house for US$10 million in 2006, and Weiner bought it for US$6.75 million in 2010. Two years later, Russ sold it to Birdman for $14.5 million, which was more than double his initial investment. Birdman tried to sell the house for $20 million in 2018. He eventually had to accept a $10.9 million offer in November 2020.
In 2013, Russell spent $10 million to purchase a beach house in Hermosa Beach, California. In March 2019, he listed the property for sale for US$21 million. He eventually accepted $14.3 million for the property.
In September 2019, Russ spent US$16.5 million to purchase a 12,500-square-foot mansion in the Hollywood Hills. Russ seems to be good at the lowest-priced mansion, because this house was actually bought for $27 million three years ago. At the time of the purchase, Russ owned at least four other residences in Los Angeles, including two estates in the super exclusive reserve of Beverly Park. He bought his first Beverly Park mansion for US$15 million in 2007 and his second mansion for US$18.6 million in 2015. He also owns Madonna’s former Sunset Boulevard compound, which he also bought for US$19 million in 2015.
Together, Russ Weiner’s current real estate portfolio (we know) is worth at least $150 million.
