Herbert Allen, Jr.'s Net Worth and Career Achievements
Herbert Allen, Jr. is an American entrepreneur known for his significant contributions to the investment and entertainment industries. He holds a net worth of $2.5 million.
Early Life and Education
Herbert "Herb" Antony Allen, Jr. was born in 1940. He completed his education at Williams College, graduating in 1962.
Career at Allen & Co.
Following his graduation, Herb joined Allen & Co., a company founded in 1922 by his father, Herbert Allen, Sr., and his uncles, Harold Allen, and Charles Allen, Jr. Herb quickly rose through the ranks and was appointed President in 1966.
Acquisition and Sale of Columbia Pictures
In 1973, under Herb's leadership, Allen & Co. acquired a controlling stake in Columbia Pictures. A decade later, he orchestrated the sale of Columbia Pictures to the Coca-Cola Company for $750 million, securing a place on Coke's Board and positioning the company strategically in future deals.
Transition of Leadership
In 2002, Herb handed over the CEO role to his son, Herbert A. Allen III. Since then, Allen & Co. has diversified its investments to include high-profile technology companies such as Yelp, Google, Zillow, Facebook, Zynga, LinkedIn, and Groupon.
Annual Conference: Camp Allen
Allen & Co. is also known for its annual conference, Camp Allen, held in Sun Valley. This prestigious event attracts key figures from the media and technology sectors, fostering valuable connections and collaborations.
