Herbert Allen Net Worth $2.2 Billion
He is the 239th wealthiest individual in the “Forbes 400” list as well as the 670th in the world. Born Herbert Anthony Allen Jr. in 1940, he is a graduate of Williams College in 1962. It had been founded in 1922 by his uncles, Charles Robert Allen Jr. and Harold Allen, and his dad, Herbert A. Allen Sr. It’s now regarded as among the premier investment banks in the media and entertainment sector. This happened despite having only a small staff with the estimated 170 workers and its particular deliberate avoidance of marketing. Also referred to as Herb, he took within the company in the early 1970’s when the Allen brothers turned within the control to him. He then focused the business on the entertainment industry and purchased 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 member of the board and secured a lucrative spot for Allen & Co. in the succeeding deals of the soda manufacturer. He then helped the soft drink giant sell the company to Sony for $3.4 billion in 1989. Currently, he is the largest known individual owner of coke stock who holds more than 12 million shares following the business ‘s 2-for-1 stock split in August. Since then, the business was involved in the IPOs of high-profile tech firms such as Google, Zynga, Zillow, Groupon, Facebook, LinkedIn, and Yelp. In addition, it holds the annual “Camp Allen” conference in Sun Valley , and it has brought out many of the largest names in the media and technology businesses every summer.