Tony Hsieh Net Worth at Death – Salary, Income, Earnings

Tony Hsieh Net Worth

Tony Hsieh had an estimated net worth of $2 billion at death. Tony was an American Internet entrepreneur and venture capitalist. He stepped down in August 2020 after twenty-one years as CEO of online shoe and apparel retailer Zappos. Hsieh co-founded the Internet advertising network LinkExchange before selling it to Microsoft for $265 million in 1998.

On November 27, 2020, two weeks and one day before his 47th birthday, Hsieh died as a result of burns and smoke inhalation suffered in a house fire that had occurred nine days earlier on November 18.

To calculate the net worth of Tony Hsieh, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets.

All debts, such as personal loans and mortgages, are included in total liabilities. 

Here’s the breakdown of his net worth:

Name: Tony Hsieh
Net Worth: $2 Billion
Monthly Salary: $1 Million
Annual Income: $20 Million
Source of Wealth: Businessperson

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Early Life

His parents (Richard and Judy) are both from Taiwan. Tony Hsieh was born in Illinois and grew up in the San Francisco Bay Area in California. He has two younger brothers, Andy Hsieh and Dave Hsieh.

In 1995, he graduated from Harvard College with a degree in computer science. While in college, he ran the Quincy House Grille, which sold pizza to students in his dorm; his best customer, Alfred Lin, eventually became chief financial officer and COO of Zappos

After college, Hsieh worked at Oracle Company. After five months, Hsieh was dissatisfied with the work environment at the company and decided to start LinkExchange with Sanjay Madan, a college friend and former Oracle employee.

Career

LinkExchange

In 1996, Hsieh began developing the idea of an advertising network, which he called LinkExchange. Website members could promote their website through the LinkExchange network by placing an advertising banner on their website. 

The site was launched in March 1996 with Hsieh as CEO and gained its first 30 subscribers by writing directly to webmasters. 

The site grew and within 90 days LinkExchange had 20,000 participating banner ads displayed 10 million times. By 1998, LinkExchange had 400,000 members and 5 million ads per day. In November 1998, LinkExchange was sold to Microsoft for $265 million. 

Venture Frogs

After LinkExchange was sold to Microsoft, Hsieh and his business partner Alfred Lin founded Venture Frogs, an incubator and investment institute. 

The name Venture Frogs came from a bet. One of Hsieh’s friends said that if they used “Venture Frogs” as their company name, he would invest his entire fortune. 

Hsieh and Lin later took the bet (although they did not get any money later). They invested in several startups, including Ask Jeeves, OpenTable, and Zappos.

Zappos

In 1999, Nick Swinmurn pitched the idea of selling shoes online to Hsieh and Lin. 

Hsieh was skeptical at first and almost deleted Swinmurn’s voicemail. Later, Swinmurn explained that “the shoe market in America is $40 billion and 5% of it is sold through mail order catalogs,” and Hsieh and Lin decided to invest through Venture Frogs. 

Two months later, Hsieh joined Zappos as CEO, starting with $1.6 million in 2000. By 2009, Zappos’ sales reached $1 billion. 

On July 22, 2009, Amazon.com announced it would acquire Zappos.com for $1.2 billion. Hsieh reportedly made at least $214 million from the sale, not including money raised by his investment agency Venture Frogs.

JetSuite

Hsieh joined JetSuite’s board in 2011. He regularly invests $7 million in the development of a private “ultralight jet.” 

The investment will allow JetSuite to purchase two new Embraer Phenom 100 jets equipped with two pilots, two engines and safety features equivalent to those of a commercial jumbo jet, but weighing less than 4.5 tonnes, resulting in fuel efficiency.

Twitter

Hsieh had been active on Twitter for a long time and had a very large number of followers. He is widely recognized as a key figure in how Twitter can be used by executives to build connections with customers, business partners and employees. 

Downtown Project- Las Vegas, NV

Since 2009, Hsieh, who still heads downtown Las Vegas-based Zappos, had embarked on a major development and revitalization project in downtown Las Vegas, which has lagged behind adjacent areas.

Hsieh originally planned the Downtown Project as a place where Zappos.com employees could live and work, but the project later outgrew that vision and became a place where thousands of local entrepreneurs and technology companies live and work.

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Personal Life

Hsieh lived primarily in downtown Las Vegas, although he also owned a home in Southern Highlands, Nevada. 

Hsieh was known to subject his body to extreme challenges, including oxygen deprivation to create hypoxia, the use of nitrous oxide and fasting until he weighed less than 45 kilogrammes. Jewel said she knew of Hsieh’s severe substance abuse and warned him months before his death.

Death 

On the morning of November 18, 2020, Hsieh was injured in a house fire in New London, Connecticut. 

He was reportedly trapped in a basement fire while visiting his family for Thanksgiving, from which firefighters rescued him. 

Hsieh was taken to a specialty burn hospital, the Connecticut Burn Center at Bridgeport Hospital, where he was treated for burns and smoke inhalation. He died there on Nov. 27, 2020.

Tony Hsieh Quotes

A bigger business is like a cruise ship: There are lots of amenities and you can go a lot further, but it’s harder to turn quickly.

Tony Hsieh

 

Businesses often forget about the culture, and ultimately, they suffer for it because you can’t deliver good service from unhappy employees.

Tony Hsieh

 

I view my role more as trying to set up an environment where the personalities, creativity and individuality of all the different employees come out and can shine.

Tony Hsieh

 

For me, my role is about unleashing what people already have inside them that is maybe suppressed in most work environments.

Tony Hsieh

 

Our customers call and e-mail us to say that’s how it feels when a Zappos box arrives. And that’s how we view this company.

Tony Hsieh

 

For me, the most fun is change or growth. There are definitely elements of both that I like. Launching a business is kind of like a motorboat: You can go very quickly and turn fast.

Tony Hsieh

 

We asked ourselves what we wanted this company to stand for. We didn’t want to just sell shoes. I wasn’t even into shoes – but I was passionate about customer service.

Tony Hsieh 

View our larger collection of the best Tony Hsieh quotes.

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