How rich is Halsey Minor?
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Halsey Minor Net Worth, Biography, Wiki 2017-2016
Halsey Minor is a technology entrepreneur born in Charlottesville, Virginia, USA in 1964. He is probably best known for founding the American media website “CNET” in 1993.
Have you ever wondered how rich Halsey Minor is? According to sources, it has been estimated that Halsey Minor is currently $50 million in debt. Minor acquired his wealth after setting up his own company which eventually made great profit. Although his wealth significantly decreased in recent years, due to enormous debts, he still is a successful entrepreneur.
Halsey Minor Net Worth -$50 Million
Halsey grew up in Virginia, where he went to Woodberry Forest School and later enrolled at the University of Virginia to study anthropology, while studying becoming a member of the Delta Phi fraternity. Upon graduation, he worked at Merrill Lynch Wealth Management, a division of Bank of America, but then decided to start his own company. His first plans began in 1992, and a year later CNET Networks was established, becoming one of the world’s most visited information resources in the field of technology. It also turned out to be one of the Internet’s first profitable companies. In 1997, Minor dilated his company to a web-publishing software company Vignette, gaining 33% stake in it. This also turned out to be a very lucrative venture as Vignette reached a market capitalization of $26 billion. Halsey’s net worth was very respectable.
He also became the co-founder and the second largest shareholder in salesforce.com, a technology company which reached a market capitalization beyond $15 billion. Apart from this, Minor is the founder of Minor Ventures, and co founder of virtual reality content platform Voxelus. All of these successes led to Halsey being called an “entrepreneurial genius” with considerable wealth.
However, only a few years later, major changes followed and this man experienced a sudden string of financial fiascos that decreased his wealth enormously, apparently largely as a consequence of depression. So from a high of $180 million in 2001, Minor sank to the point of owing about 60 creditors a total debt as big as $100 million, with assets of about $50 million. It is said that some of the mentioned creditors are Bank of America, Verizon Wireless, the Internal Revenue Service, an Sotheby’s auction house. It seems that the origin of most of these debts are some unwise and/or unlucky investments in, among other things, real estate, expensive artwork and tourism development, but also the rather opulent lifestyle he led. As a result, Minor has been engaged in various law suits with both Christie’s and Southeby’s auction houses, which had different outcomes, favorable and unfavorable for Halsey.
The overall consequence was that Halsey Minor filed for Chapter Seven personal bankruptcy in 2013, which is still being worked through. This is certainly a spectacular fall for Halsey, who was considered to be one of the most successful entrepreneurs in the world. He was on the cover of the 1998 Forbes magazine and on the list of the forty richest men under forty in America in 2001
When it comes to his private life, Halsey Minor has married twice. He divorced his first wife, Deborah in 2006 and re-married two years later to producer Marc Gurvitz’s ex-wife, Shannon.