Canadian media mogul and former billionaire Shane Smith was born on September 28, 1969. As executive chairman, he oversees Vice Media’s international internet channel network, TV production facility, record label, in-house creative services agency, book publishing imprint, and film production arm.
Smith led Vice as CEO from its inception in 2004 until March of this year. On March 13th, 2018, Nancy Dubuc, formerly CEO of A+E Networks, took over as CEO.
Shane Smith Net Worth: How Rich is He Now?
Canadian-American writer and businessman Shane Smith has a $50 million fortune. Shane Smith became wealthy and famous as one of the company’s co-founders. Shane amassed a billion dollars throughout his prime.
After the firm received $450 million in June 2017 at a valuation of $5.7 billion, his net worth surpassed $1 billion for the first time. Shane had 28% ownership then, making him worth $1.6 billion on paper.
Vice’s ultimate objective was to go public. Unfortunately, by May of 2023, Vice was said to be on the verge of bankruptcy, so it never materialized. Vice magazine was founded as a punk subculture periodical, but it has now broadened its coverage to include other subcultures’ music, art, news, and fashion.
Its expansion into a media empire began in the 2000s. Shane, Gavin McInnes, and Suroosh Alvi established the business. 2007 Gavid was bought out for between $10 and $20 million after leaving the firm for creative issues.
The VICE brand eventually branched into other media such as movies, TV shows, books, and music. He has co-hosted the HBO series “VICE” and worked as a journalist for VICE, covering topics in Iran, Russia, and Liberia. Smith and other VICE reporters are followed across the world in this show.
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How Much Did Shane Smith Make From Vice’s Funding Round?
Since 2011, Vice has raised more than $1 billion. Shane Smith sold $100 million worth of his own shares when Vice raised about $500 million across the two rounds in 2014 and 2015.
A house in Santa Monica, California, cost $23 million to buy in 2015 for Shane and his then-wife Tamyka. They allegedly never stepped foot on the 3.35-acre property and bought it without seeing it first. The climactic gunfight depicted in “Beverly Hills Cop” occurred in this residence.
On this buy, Shane and Tamyka fared excellently. They sold the Santa Monica house in April 2021 for under $49 million amid their rumored divorce. Shane spent $11.7 million to buy a home in Malibu, California, in May 2021.