Samuel Irving Newhouse, Jr. Net WorthReal Name: Samuel Irving Newhouse, Jr.
Date of Birth: 11/8/1927
Place of Birth: New York City, New York
2017 Net Worth: $8.5 Billion
Profession: Chairman of Conde Nast Publishing, Co-owner of Advance Publications
Samuel Newhouse, Jr. Biography
Samuel Newhouse Jr, commonly referred to as Si, was born in New York City in 1927. He attended Horace Mann high school, but went no further with his formal education. Together with his brother Donald, they own Advance Publications, a company founded by their father in 1922. Advance Publications own Conde Nast, publishers of such popular and long standing magazines as Vanity Fair, Vogue, and The New Yorker, dozens of newspapers across America, including The Palin Dealer, The Oregonian, and The Star-Ledger, cable company Bright House Networks, and a controlling interest in Discovery Communications. Newhouse is the 10th richest resident in the state of New York, and the 46th richest person in the United States.
Newhouse’s brother, Donald, focused on the newspaper end of the family business, and Newhouse himself oversaw the magazine portion. Although the brothers took a beating in the financial crisis of 2008, they have since recovered. Newhouse began focusing expanding into multimedia and digital assets. Newhouse owns Reddit and is looking into other online ventures.
The newspaper portion of their estate is still having issues but they are looking into ways to change this with a “digital first” strategy. Newhouse also owns an 80 percent share of the cab le company Bright House Communications, The Discovery Channel and TLC.
Although he never attended college, Newhouse has given $15 million to Syracuse University. He is an avid art collector, who once owned one of the most valuable paintings in the world, a Jackson Pollock drip painting simply entitled Number 5. Art News listed Newhouse as one of the top 200 art collectors in the world. With a current net worth of $ 8.5 billion, Newhouse can well afford to outfit his estate with some of the world’s most valuable artwork and have cash left to spare.