Ted Leonsis Net Worth
Date: 16 Jun, 2016
You probably know about “America Online”. When we see this company’s name, one name always pop up in our mind. It’s the name of the famous Ted Leonis. Ted Leonis is not only known for his business ventures, but also from his investments, filmmaking, books, and charity. He is also the former Mayor of Orchid, Florida. Moreover, do you know that his name is included in Forbes Magazine? Yes, he has the staggering net worth of $1 billion.
You may be surprised to find out that he was born in working class family. Born on January 8, 1957, in Brooklyn, he worked in a counter of the diner to support his family. Though his parents were mill workers, he was born for the business. Because of his skills, he quickly got a job at the grocery store. In his youth, he worked for the wealthy stockbroker, Jim Shannon. Jim got impressed by the work of Leonis and helped him to get admission in Georgetown University.
He graduated in 1977 where he topped the class. Following his graduation, he got a job as the marketing executive in Harris Corporation. But his mind was elsewhere. So, he left the job in 1981 and started his business venture in Florida. At that time, he was only 25 years old. He published “LIST Magazine” which focused on the technological aspects and the computing industry. The magazine became very much successful as many software companies gave advertisement to promote their products. Leonis sold “LIST Magazine” just two years later for $40 million which made him one of the multimillionaires in the United States.
Leonis did not stop just in one company. He established Redgate Communications Corporation in 1987. This company was later merged with America Online (AOL) where he became the senior executive for 13 years. If you know about America Online today, it’s all because of just one person. And he is none other than Ted Leonis. During his tenure, the membership of AOL increased from 800,000 to 8 million. Though he retired from the company in 2006, he still serves as the Vice-Chairman Emeritus.
You might not know, but he is also an avid sports lover. In 2013, his name came up in many articles because of his weight loss. At that time, he lost over 92 pounds. Moreover, he is the founder of “Monumental Sports & Entertainment”. Not only that, he is also the chairman and CEO of the company. The company owns Washington Capitals (National Hockey League), Washington Mystics (Women’s National Basketball Association), Washington Wizards (National Basketball Association) and The Verizon Center.
Not only he has a blooming career, but also his married life is flourished. Ted has the wife of 29 years, Lynn Leonis, whom he got married in 1987. The couple has two children (Son - Zachary Leonsis and Daughter - Elle Leonsis). He resides with his wife and kids in Potomac, Maryland on a house with the 13-acre estate.
From working class person to a billionaire: We can learn many new things from Ted Leonis. For the success in life, he has authored “The Business of Happiness: 6 Secrets to Extraordinary Success in Work and Life”. One can get the motivation to succeed in his life after knowing his bio, don’t you think?