Home / Richest Celebrities / Herbert Allen Net Worth

Herbert Allen Net Worth

Unanswered Problems With An Estimated Net Worth Uncovered

He’s the 239th wealthiest person in the “Forbes 400” list as well as the 670th in the world. Produced Herbert Anthony Allen Jr. in 1940, he’s a graduate of Williams College in 1962.

It had been set up in 1922 by his uncles, Charles Robert Allen Jr. and Harold Allen, and his father, Herbert A. Allen Sr. It’s now regarded as among the highest investment banks in the media and entertainment sector. This occurred despite having only a small staff with the estimated 170 employees and its particular purposeful avoidance of marketing.

In 2002, Herbert Allen Jr. was named the CEO of the family business. Since then, the firm was involved in the IPOs of high-profile tech companies like google, Zynga, Zillow, Groupon, Facebook, LinkedIn, and Yelp. In addition, it holds the annual “Camp Allen” convention in Sun Valley , and it has brought out many of the greatest names in the media and technology industries every summer.

Also referred to as Herb, he took within the company in the early 1970’s when the Allen brothers turned within the management to him. He then focused the firm on the entertainment industry and bought a controlling position in Columbia Pictures. In 1982, the business sold its shares in the film company to Coca Cola for $750 million. This made him a person in the board and secured a lucrative spot for Allen & Co. in the succeeding deals of the soda maker. He then helped the soft drink giant sell the business to Sony for $3.4 billion in 1989. Now, Allen is the largest known individual owner of coke stock who holds more than 12 million shares after the business ‘s 2-for-1 stock split in August.
Herbert Allen Jr. is the son of Herbert A. Allen, Sr. Allen & Company specialized in corporate buyouts. A third brother Harold joined soon after. Allen Jr. has one sister, Susan Allen. Allen, Jr. graduated from Williams College in 1962 and instantly joined Allen & Company. In 1966, at age twenty seven, he was named President. In 1973, Allen & Company bought a controlling interest in Columbia Pictures. In 1982, Allen & Company launched the Sun Valley Conference and The Coca-Cola Company bought Columbia for $750 million in cash and stock giving Allen Jr. a seat on the Board of Directors. In 2002, Allen Jr. ceded control of the firm to his son Herbert Allen III. In 1998, he contributed $20 million to Williams College. Allen has been married and divorced twice. His first wife was Laura Parrish; they have four children: Herbert Allen III is married to Monica de la Torre, a public interest lawyer and native of Puerto Rico; Charles Allen works at Allen & Co. as an institutional salesman and in 2005, wed Kristin Wheat Fisher in a Methodist ceremony; Leslie Allen; and Christie Allen. His second wife was Broadway dancer Ann Reinking.

Check Also

Tom Morello Net Worth

Guitarist Tom Morello, most well-known for his guitar playing in the group Rage Against The ...