Wally Amos Net Worth
Wally Amos has an estimated net worth of $20 thousand. African American entrepreneur Wally Amos founded the Famous Amos cookie brand. He also worked as a talent agent and discovered Simon & Garfunkel. He earns most of his income from his business ventures. However, he was financially broke in his later years.
Wally Amos was born in Tallahassee, Florida on July 1, 1936. He began his career in the William Morris Agency’s mailroom before becoming the agency’s first Black talent agent in 1962. He signed Simon & Garfunkel as an agent and oversaw the agency’s rock ‘n’ roll department. He opened the first Famous Amos store in 1975. Keebler bought the brand in 1998 and kept Amos as the spokesperson.
To calculate the net worth of Wally Amos, 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:
|Net Worth:||$20 Thousand|
|Monthly Salary:||$1 Thousand+|
|Annual Income:||$10 Thousand|
|Source of Wealth:||Entrepreneur, Writer, Businessperson, Actor|
Wallace Amos Jr. was born on July 1, 1936, in Tallahassee, Florida. Following his parents’ divorce in 1948, Amos was sent to live with his Aunt Della in New York City, who frequently baked homemade chocolate chip and pecan cookies. Later, he said of the experience, “We had no material wealth, but Aunt Della’s home was always rich in the principles and qualities that are essential for a child’s upbringing. And it was filled with the delicious aroma of her chocolate chip cookies.” Amos’ love of cooking drew him to the Food Trades Vocational High School, where he studied culinary arts for two years.
Amos returned to New York in 1957 after serving in the United States Air Force for four years. In the years that followed, he worked in the stockroom at Saks Fifth Avenue and the mailroom at the prestigious William Morris Agency.
Following a series of promotions, Amos became the William Morris Agency’s first Black talent agent in 1962. Determined to make a name for himself by signing a big-name act, he was rewarded when he discovered the singing duo Simon & Garfunkel. Amos went on to head the agency’s newly formed rock ‘n’ roll department, where he worked with Diana Ross, Marvin Gaye, and Sam Cooke.
Famous Amos Cookies
Amos left William Morris in 1967 and relocated to Los Angeles, where he struggled to establish his own personal management company. Amos began to bake chocolate chip cookies to relieve the stress of his failing business’s debt. He intended to open the first freestanding cookie store using a modified version of his Aunt Della’s recipe.
The first Famous Amos cookie store opened on Sunset Boulevard in Los Angeles in 1975, with financial backing from singers like Marvin Gaye and an innovative marketing campaign that included an extensive advertising campaign and a gala grand opening. Within months, Amos had opened two more West Coast franchises, and the gourmet cookies were being sold at the New York-based Bloomingdale’s department store.
Amos and his cookie empire thrived for a decade. However, mismanagement forced Amos to gradually sell off parts of his business in 1985. The Shansby Group purchased Famous Amos Cookies in 1988 and successfully repositioned the brand image, transforming it from a specialty item to a lower-priced product.
Amos attempted to launch another cookie company, Wally Amos Presents Chip & Cookie, in 1991. The Shansby Group sued Amos for violating an agreement that prohibited him from using his name and likeness on food product packaging. The Famous Amos brand was purchased by the Keebler Company in 1998, and Amos resumed his role as the brand’s spokesperson.
In the mid-1990s, Amos collaborated with partners, including Famous Amos distributor Lou Avignone, to launch Uncle Wally’s Family of Muffins. The company makes a variety of homemade-style and healthy muffins. Amos also launched a new cookie company, Chip & Cookie, which bills itself as the “only company baking from pure, unadulterated Wally Amos recipes.”
Aside from his business, Amos travels as a motivational speaker, advocating for the abolition of illiteracy in the United States and collaborating with organizations such as Read to Me International and the YMCA.
“I encourage parents to read aloud to their children from birth to the age of six. I’d prefer that they do it while they’re still in the womb “Amos stated in an interview with MidWeek.
He has also written ten books, including the inspirational Watermelon Credo: The Book. Amos attributes his success as an author and motivational speaker in large part to his Aunt Della: “[Aunt Della’s] basic cookie recipe served as the foundation for much of my success. But it is her life recipes that have kept me going to this day “According to his website.
Shawn, Michael, and Gregory are Amos’s sons from his first two marriages. With his third wife, Christine Harris, he has a daughter named Sarah.
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