What’s Suhail Rizvi’s web price?
Suhail Rizvi is an Indian-born American financier and personal fairness investor who has a web price of $800 million. As co-founder of Rizvi Traverse Administration, Suhail Rizvi has quietly constructed a multibillion-dollar portfolio that has included controlling stakes in Hollywood expertise companies, music catalogs, leisure studios, and main positions in expertise corporations like Twitter, Sq., Snapchat, and SpaceX. Rizvi avoids the highlight, not often provides interviews, and is thought for retaining a particularly low public profile, but his investments have formed industries starting from social media to movie manufacturing. On the time of Twitter’s IPO, Suhail was reportedly near being a billionaire.
In 2011, Hugh Hefner and an funding agency known as Icon Acquisition Holdings took Playboy Enterprises non-public after a few years as a public firm. Rizvi Traverse quickly purchased out Icon. On the time of Hefner’s dying, Rizvi owned 65% of Playboy Enterprises Inc. Hugh Hefner owned 35% of Playboy Enterprises and 100% of the bodily journal. Playboy Enterprises owned the precise Playboy Mansion, which was offered in 2016 for $100 million to Twinkie billionaire inheritor Daren Metropoulos.
Early Life
Suhail Rizvi was born in India in 1965 and moved to america as a toddler. He grew up in Iowa Falls, Iowa, and studied engineering on the College of Pennsylvania, graduating in 1988. Although his background was technical, Rizvi quickly pivoted to finance. Within the Nineties, he co-founded Rizvi Traverse Administration, primarily based in Michigan, which might change into his main funding car.
Hollywood and Leisure Investments
Rizvi first made his mark in Hollywood. In 2005, he acquired a controlling stake in Worldwide Artistic Administration (ICM) for greater than $75 million, later serving to to fund its buy of Broder Webb Chervin Silbermann, a number one TV company. Though the merger was rocky and finally led to Rizvi and Jeff Berg promoting their stake again to the brokers in 2012, the transfer established Rizvi as a big pressure in leisure finance.
By way of Rizvi Traverse, he additionally backed Summit Leisure, the studio behind the blockbuster “Twilight” franchise. When Lionsgate acquired Summit in 2012 for greater than $400 million, Rizvi realized a considerable revenue.
Suhail Rizvi through Getty Pictures
Playboy and Hugh Hefner
Considered one of Rizvi’s most high-profile offers got here in 2011, when Rizvi Traverse partnered with Hugh Hefner to take Playboy Enterprises non-public after many years as a public firm. The transaction valued the corporate at about $207 million and gave Hefner the liberty to reshape the model with out Wall Avenue scrutiny. Beneath the deal, Hefner retained 35% of Playboy Enterprises and full possession of the journal itself, whereas Rizvi progressively consolidated management.
Quickly after the buyout, Rizvi’s agency bought out Hefner’s funding companion, Icon Acquisition Holdings, leaving Rizvi Traverse with the bulk stake in Playboy Enterprises. By the point of Hefner’s dying in 2017, Rizvi owned 65% of the corporate, controlling its licensing, model partnerships, and world mental property. Hefner held onto 35% and maintained artistic authority over the journal till his dying.
Playboy Enterprises additionally owned probably the most well-known properties in America: the Playboy Mansion in Holmby Hills, Los Angeles. In 2016, Rizvi and Hefner orchestrated the sale of the estate for $100 million to Daren Metropoulos, inheritor to the Twinkie fortune. Hefner was allowed to dwell there for the rest of his life beneath the phrases of the deal.
The transaction underscored Rizvi’s fame for purchasing iconic however underperforming media belongings, repositioning them as long-term performs constructed on mental property and branding potential slightly than short-term profitability.
Know-how Investments
Whereas Rizvi made cash in Hollywood, his greatest monetary wins got here from Silicon Valley. Within the early 2010s, he turned one of many largest outdoors buyers in Twitter, buying about 15.6% of the corporate previous to its IPO in 2013. That stake was price round $3.8 billion when Twitter debuted on the inventory market, briefly making Rizvi probably the most influential figures within the tech investing world. His agency additionally took early positions in Fb, Sq., Pinterest, Flipboard, and Snapchat, leveraging connections with distinguished entrepreneurs and financiers.
In 2015, Rizvi Traverse acquired RealD, a number one 3D cinema expertise firm, in a $551 million deal, persevering with its technique of shopping for media and expertise corporations with sturdy mental property portfolios.
Actual Property
In 2012, Suhail paid $3.95 million for a mansion in Wellington, Florida. Immediately, this property is price round $10 million. He additionally owns an property in Greenwich, Connecticut.
All web worths are calculated utilizing information drawn from public sources. When supplied, we additionally incorporate non-public ideas and suggestions acquired from the celebrities or their representatives. Whereas we work diligently to make sure that our numbers are as correct as doable, until in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button beneath.
