What is Daren Metropoulos' net worth?
Daren Metropoulos is an American businessman and entrepreneur who has a net worth of $600 million. Daren Metropoulos is the son of billionaire investor C. Dean Metropoulos, who made his fortune through investments in companies like Hostess Brands, Pabst Brewing Company, and Bumble Bee Foods. As the CEO of Pabst Brewing Company, Daren helped revitalize the iconic brand and increase its profitability. The family bought Pabst in 2010 for $250 million. Just four years later they sold it for $750 million. In 2010 Daren paid $110 million for the Playboy Mansion. In June 2024, Daren paid $148 million all-cash for an oceanfront estate in Palm Beach, Florida.
Early Life and Family
Daren Metropoulos was born on June 28, 1984, in Los Angeles, California. He is the son of billionaire investor C. Dean Metropoulos who is one of the richest people in Connecticut.
C. Dean Metropoulos was born in Greece in 1946 and emigrated to the U.S. with his parents when he was 10. He received his Bachelor's degree and MBA from Massachusetts' Babson College. Metropoulos made his first big corporate deal when he was still in his 20s. He used his entire life's savings to buy a European company that made space heaters and air conditioners. From there he acquired a Vermont-based specialty cheese company.
In 1996, the elder Metropoulos teamed up with a Dallas buyout firm to buy International Home Foods, the parent company of Chef Boyardee and Bumble Bee tuna. Four years later, they sold it to food industry giant ConAgra for more than $3 billion. Metropoulos doubled his money on that deal. Over the course of his career, Metropoulos has targeted brands that were household names that had been badly mismanaged, but still had positive brand recognition. Some of the brands Metropoulos bought and re-launched include Ghirardelli chocolate, Pam cooking spray, and Perrier-Jouet champagne.
In 2010, Metropoulos bought Pabst for $250 million cash and set out to revive it. He put his sons Daren and Evan in charge of the brewer. He had been grooming them to take over his empire for years. Daren and Evan used their knowledge of social media and brand building to make Pabst a favorite among college kids and hipsters. Many people assumed the Metropoulos family would own Pabst for generations, but after orchestrating the brand's comeback, the family sold the company in 2014. The Metropoulos family made $500 million on that deal.
Daren has a brother, Evan Metropoulos, who is also highly active in the family business. Daren attended the University of California, Los Angeles, where he earned a degree in economics.
Daren and Evan Metopoulos (Photo by Todd Oren/WireImage)
Pabst Brewing Company
After graduating from college, Metropoulos began his career in the food industry by working for his family's investment firm, Metropoulos & Co. He quickly rose through the ranks and was eventually appointed as the CEO of Pabst Brewing Company, one of the firm's portfolio companies. The family bought the fading brand for $250 million in 2010.
During his tenure as CEO, Metropoulos helped to revitalize the Pabst brand and increase its profitability. He introduced new products and expanded the company's distribution network, which helped to attract a new generation of customers. Metropoulos also oversaw the acquisition of several other beer brands, including Rainier Beer and Lone Star Beer.
Under Metropoulos's leadership, Pabst Brewing Company became one of the fastest-growing beer companies in the United States. The company's success helped to establish Metropoulos as a rising star in the food industry and earned him a reputation as a savvy business leader.
In September 2014, the Metropoulos family announced that they were selling PBR to a Russian company called Oasis Beverages for $750 million.
Twinkies
in 2013, Hostess went bankrupt. Metropoulos and his sons leapt into action. They teamed up with the private equity firm Apollo Global Management to buy Hostess for more than $400 million. The Metropoulos family saved Twinkies from extinction. They made dramatic changes in production lines to enhance efficiency. The Metropoulos family then re-launched the dessert brand with the slogan "The Sweetest Comeback in the History of Ever."
Playboy Mansion
In June 2010, Daren Metropoulos made headlines when he purchased the Playboy Mansion in Los Angeles, which had been the home of the late Hugh Hefner. Metropoulos reportedly paid $110 million for the property. The Playboy Mansion is known for its lavish parties and its history as a symbol of the sexual revolution of the 1960s.
Metropoulos's purchase of the Playboy Mansion made him a controversial figure in some circles, as the property was seen by some as a symbol of exploitation and objectification. However, Metropoulos has defended his decision to buy the property, saying that he sees it as an important piece of cultural history.
Palm Beach Mansion
In June 2024, Daren paid $148 million for a 23,000-square-foot oceanfront estate in Palm Beach, Florida. He paid all-cash for the 3.2-acre property. The seller was the family of the late Canadian businessman William Pencer, who purchased the property with his wife in 2003 for $12.1 million.
Philanthropy
In addition to his business pursuits, Daren Metropoulos is also a noted philanthropist. He has donated millions of dollars to various charitable causes, including medical research, education, and the arts. In 2019, he pledged $10 million to the University of Southern California to support research into brain health and Alzheimer's disease. Metropoulos has also donated to organizations like the Los Angeles County Museum of Art and the Children's Hospital Los Angeles.
