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Jim Koch Net Worth, Biography & Wiki 2017
James Koch, the American entrepreneur and the founder and chairman of the Boston Beer Company, was born on 27 May 1949, in Cincinnati Ohio, of part-German descent. His company produces the largest selling craft beer line in the US named Samuel Adams, and has played an important role in building his net worth.
So can you have any guesses about what the net worth of James Koch is? According to sources, it is estimated at $1 billion as of early 2016, and every bit of it is the result of the earnings from his company.
Jim Koch Net Worth $1 Billion
Jim was born into a family of five generations of great brewers, although his parents never intended him to work in the same field. He was a very good student, and went to the renowned Harvard University, graduating with a BA degree in 1971. By this time Jim was feeling less satisfied with life, and to gain some different experiences he left his studies and joined Outward Bound which was a wilderness program to train people in outdoor survival. He worked there as instructor and while teaching others, himself learnt a lot which prepared the base for his shining future.
After four years he came back to Harvard and after successfully completing his JD/MBA double degree, started working with Boston Consulting Group. He continued with his job for about five years but still he was not content. This was the time when he decided to establish a brewery with his net worth, and after taking huge loans from friends and relatives he started his long and difficult journey in 1984. At that time, there were only a few small domestic beer brands available in the US market and a major part of the total consumption was imported from Europe. Jim, after studying and researching the market for a long period, started his beer production with an authentic German beer recipe from his ancestors treasure chest, which he named after the famous brewer and war hero Samuel Adams. He never compromised with the quality and used best quality ingredients which resulted in high prices of his products and thus difficulties in selling. This continued for a few years, but due to Jim’s hard work and killer marketing strategies, which he used from time to time to enhance his sales, it soon caught on and by the end of 1994 Samuel Adams had become the highest selling craft beer in the US, yielding a cool $50 million per year from sales and accelerating Jim’s net worth at a very fast pace.
However, this was just the beginning, and In the past 20 years the company has not only introduced several new flavors from time to time but its production output has also augmented to a stunning 4.9 million barrels per year from over 50 beers. Yearly revenues exceed $800 million with a net profit of more than $120 million. In 1995 the company went public and was listed on the NYSE and is now one of the largest beer companies in the world, and Jim a billionaire.
In his personal life, Jim Koch has married twice; he divorced his first wife with whom he has two children. Now he is married to Cynthia Fisher and has two children with her as well and enjoys his net worth with them.