Samuel Newhouse Net Worth

Samuel Newhouse Net Worth

Highlights

Samuel “Si” Newhouse was an American businessman who had a net worth of $13 billion. He was the chairman and CEO of Advance Publications, which is the umbrella corporation for Conde Nast Publications. Si Newhouse was known for his philanthropy and was one of the wealthiest residents of New York. He made a significant portion of his fortune when Bright House Networks was acquired by Charter Communications in May 2016. Si and his brother Donald received a substantial amount of cash and stocks as part of the deal.

Early Life

Samuel Irving “Si” Newhouse, Jr. was born in New York City in November 1927. He was the son of Samuel Irving Newhouse, Sr., who founded Advance Publications in 1909. Si attended the Horace Mann School in New York City.

Career

Si Newhouse had a successful career in the media industry. He served as the chairman and CEO of Advance Publications, overseeing the operations of Conde Nast Publications. Conde Nast publishes prestigious magazines and periodicals such as Vogue, The New Yorker, Vanity Fair, and newspapers including The Plain Dealer, The Star-Ledger, and The Oregonian.

Aside from his role at Advance Publications, Si Newhouse also owned Advanced Publications with his brother Donald. The company has a controlling stake in Discovery Communications and owns Bright House Networks. Si became one of the 50 wealthiest Americans during his lifetime.

Personal Life

Si Newhouse was married to Jane Victoria Newhouse in 1973 and was previously married to Jane Franke. He had three children. Known for his philanthropy, Si made notable donations throughout his life. One of his most significant contributions was a $15 million donation to Syracuse University. He was also an art enthusiast and owned a Jackson Pollock piece, which was one of the most valuable paintings in the world.

Net Worth Over Time

Samuel Newhouse had a net worth of $13 billion at the time of his death. He accumulated a substantial portion of his wealth when Bright House Networks was acquired by Charter Communications in 2016. Si and his brother Donald received a significant amount in cash, stocks, and other assets as part of the deal.

Components of Net Worth

The majority of Samuel Newhouse’s net worth came from his ownership and leadership position at Advance Publications, the parent company of Conde Nast Publications. Conde Nast itself generated significant revenue through its portfolio of prestigious magazines. Si and his brother also held stocks in Discovery Communications, further adding to their net worth. Additionally, Si made various other investments and assets throughout his life, including valuable artwork.

In conclusion, Samuel “Si” Newhouse was a highly successful American businessman with a net worth of $13 billion. He made his fortune through his involvement in Advance Publications and Conde Nast Publications, as well as through other lucrative investments and assets. Si’s philanthropy and contributions to the media industry left a lasting impact.

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