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Mark Balelo Net Worth, Biography & Wiki 2017
Mark Balelo was born on 31st January 1973, in Machico, Madeira Island Portugal, and was a businessman best known for founding the Balelo Inc., which is a liquidation, distribution, and wholesale company. He was found dead on 11th February 2013 in his car, as a result of carbon monoxide poisoning.
Have you ever wondered how rich Mark Balelo was at the time of his death? According to authoritative sources, it has been estimated that Balelo`s net worth was as high as $500,000, an amount earned through his successful career. He also became somewhat of a TV star, when he appeared on the reality TV show “Storage Wars”, and spent a lot of money on auctions for some of the storage liquidations.
Mark Balelo Net Worth $500,000
Little is known about Mark`s early life and his family on the whole. However, when he was 14, he started working on fishing boats, as he was forced to support himself and to provide for his education. Apart from working in fishing boats, Mark also ventured into the valet business as an employee during weekends. Following high school matriculation, Mark enrolled at Orange Coast College, and while studying he started his own valet business, and also worked in a Nissan dealership selling cars. He graduated with a degree in Business, and after some time he moved to Mercedes-Benz, and became one of their top salesmen, so increasing his net worth by a large margin.
However, Mark’s net worth benefited from his other ventures too; he started Balelo Inc., which handles asset acquisitions, liquidations and closeouts, while it is also a doubles in wholesale and distribution. Little by little his company grew, and on account of the success of his company, Mark started several other projects. He founded an auction house called Balelo Auctions, which also added to his net worth.
Furthermore, he also owned a gaming store, called The Game Exchange, the successful management of which also contributed to his net worth.
Nevertheless, a major part of his net worth was of course through his appearance on the popular reality TV show “Storage Wars”. He appeared in a total of seven episodes, and during that time became known as “Rico Suave”, because of his high spending; for instance, he would buy over 150 storage units a week, and spend more than $50,000 per auction. All in all, this paid out for him, and his net worth became even greater.
When it comes to his personal life, unfortunately, displeased and troubled by some aspects of his life, including drug charges and custody battle over his children, Mark committed suicide, being found dead in his car parked in his garage on the 11th February 2013.
At the time of his death, Mark was engaged to Elisabeth Metzidis. Details of his previous relationships are vague, but he is known to have had at least two children, one of whom was autistic and over whom he fought for custody. He had also been jailed previously on drugs charges, and had broken the rules of his probation.