What is Suroosh Alvi's Net Worth?
Suroosh Alvi, a prominent Canadian journalist, boasts a net worth of $50 million. Born in Toronto, Canada, Alvi earned a Philosophy degree from McGill University. In the mid-90s, shortly after graduating, he co-founded the influential VICE magazine alongside Shane Smith and Gavin McInnes. Over time, VICE expanded its horizons encompassing film, news, music, and publishing.
Throughout his career at VICE, Alvi reported crucial stories from conflict zones such as the Congo and the Gaza Strip. He also produced acclaimed documentaries like "Heavy Metal in Baghdad" and "Reincarnated." In 2002, Alvi pioneered VICE Music, a record label that supports both well-known and emerging artists. Under his leadership, VICE Music represented artists like Snoop Lion, Bloc Party, and Chromeo, selling nearly 7 million albums. Additionally, VICE operates a series of web channels that feature 60 original video series.
Vice Valuations and Bankruptcy
Here is a historical overview of Vice's funding rounds and their valuations:
- 2011: $50 million investment by WPP, The Raine Group, and MTV founder Tom Freston
- Valuation: Estimated around $200 million
- 2013: $70 million investment by 21st Century Fox for a 5% stake
- Valuation: $1.4 billion
- 2014: $250 million investment by A&E Networks for a 10% stake
- Valuation: $2.5 billion
- 2015: $200 million investment by Disney for a 10% stake
- Valuation: $2 billion (due to a restructuring of A&E's stake)
- 2017: $450 million investment by TPG Growth for an undisclosed stake
- Valuation: $5.7 billion
After the 2017 funding round, Suroosh Alvi and Shane Smith each owned 28% of Vice, equating to Alvi's net worth being approximately $1.5 billion on paper. In March 2014, Shane Smith hinted at VICE potentially going public in the future, aiming for a $29 billion valuation, which would have elevated Alvi's net worth to a staggering $8 billion.
However, in late April 2023, reports suggested that Vice was on the brink of bankruptcy.
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