David Neeleman Net Worth

What is David Neeleman's Net Worth?

David Neeleman is a Brazilian-American businessman and aviation entrepreneur who has a net worth of $200 million. David Neeleman is best known for founding multiple successful low-cost carriers, including JetBlue Airways. Over the course of his career, he has earned a reputation as one of the most innovative figures in modern aviation, pioneering customer-focused business models and reshaping how budget airlines compete with legacy carriers.

Neeleman began his career in the 1980s by co-founding Morris Air, a low-cost carrier based in Salt Lake City. The airline was among the first to introduce electronic ticketing, a system that would later become industry standard. In 1993, Southwest Airlines acquired Morris Air for $130 million, with Neeleman briefly working as an executive at Southwest before striking out on his own again.

In the late 1990s, he launched JetBlue Airways, which redefined low-cost flying in the United States. JetBlue combined affordable fares with higher-end amenities such as free seatback televisions, expanded legroom, and superior customer service. The airline's 2000 debut disrupted the market and made Neeleman a household name in business circles. Although he was eventually ousted as CEO in 2007, JetBlue remained a leading carrier.

Neeleman went on to expand his influence internationally, helping establish Azul Brazilian Airlines in 2008. Azul became one of Brazil's largest carriers by offering low fares and service to underserved markets, echoing JetBlue's model. He also co-founded TAP Air Portugal's revival effort, participating in the consortium that acquired a stake in the struggling flag carrier in 2015.

Most recently, Neeleman founded Breeze Airways, which launched in 2021 with a focus on connecting secondary U.S. cities with affordable nonstop service. His career is marked by a consistent vision: combining low-cost operations with customer-friendly innovations, making him one of the most prolific airline entrepreneurs of his generation.

Early Life and Education

David Neeleman was born on October 16, 1959, in São Paulo, Brazil. He has two brothers named Stephen and Mark. At the age of five, he moved with his family to Sandy, Utah, in the United States. There, he was raised in the Church of Jesus Christ of Latter-day Saints. As a young adult, Neeleman served a two-year mission in Brazil.

Airlines

In 1984, Neeleman co-founded his first commercial airline, Morris Air, with June Morris. Based in Salt Lake City, Utah, it was a low-fare airline that began its operations in 1992. Notably, Morris Air was the world's first airline to use e-ticket travel. In late 1993, it was sold to Southwest Airlines for over $120 million in stock. Neeleman earned $25 million from the sale. That's the same as around $50 million today. If he had held onto those shares, today they would be worth around $300 million.

He continued working for Southwest for a while before he left in 1994 to co-found WestJet Airlines with Clive Beddoe. Headquartered in Calgary, Alberta, the airline began operations in 1996 as a low-cost alternative to Canada's major airlines. Originally, all of its routes were in Western Canada, but WestJet expanded over the years to include destinations across North America, Central America, Europe, and Asia. Later, in 2019, it was acquired by Kestrel Bidco, which made WestJet a private company.

In 1998, Neeleman founded NewAir in Queens, New York. It was eventually renamed JetBlue Airlines. Like Neeleman's other airlines, it began by following the low-cost approach of Southwest. Commencing operations in early 2000, JetBlue went on to introduce several amenities, including in-flight entertainment and Sirius XM satellite radio. The airline operates over 1,000 daily flights to destinations in the United States and Europe. Neeleman served as CEO of JetBlue until 2007, when he was succeeded by David Barger, and as chairman of the board until 2008, when he was replaced by Joel Peterson.

Neeleman founded his fourth airline, Azul Brazilian Airlines, in 2008. Headquartered in the São Paulo suburb of Barueri, the company provides frequent and low-fare air service to the country's underserved markets. Neeleman serves as Azul's chairman. Later, in 2018, he founded the low-cost Moxy Airways, headquartered in Cottonwood Heights, Utah. Renamed Breeze Airways in early 2020, it commenced operations in 2021 with a flight from Tampa Bay International Airport to Charleston International Airport. Breeze has a network of domestic routes throughout the United States, and Neeleman serves as CEO of the company.

JetBlue Stock Holdings

When JetBlue went public in April 2002, Neeleman personally owned 8.1% of the company. The IPO was a smash hit — shares soared 67% on the first day, closing at $45 and valuing JetBlue at nearly $1.8 billion. At that price, Neeleman's stake was worth around $88 million, cementing him as a multimillionaire overnight. As JetBlue's stock climbed toward an all-time high of $55 later that year, his holdings briefly approached $150 million in value.

Over the next several years, Neeleman's stake was diluted as JetBlue issued new shares, but he remained the largest individual shareholder. In 2007, shortly after being replaced as CEO, he sold 2.5 million shares at $10.87 each, grossing $27.2 million in cash. By the end of that year, his ownership had dropped to just over 4%, representing about 7.3 million shares. As JetBlue's stock slid during the financial crisis, the value of his remaining holdings fell into the tens of millions, and by 2008 most of his original equity had been liquidated.

Today, Neeleman still owns a 4.86% stake in JetBlue, or roughly 17.7 million shares. At JetBlue's current market capitalization of about $1.83 billion, that stake is worth approximately $89 million. While JetBlue no longer represents his primary source of wealth, the holding ensures that he continues to have meaningful exposure to the airline he founded more than two decades ago.

Azul Ownership & "Paper Billionaire" Status

David Neeleman founded Azul Linhas Aéreas Brasileiras in 2008 and for many years controlled around 67% of Azul's voting shares, making him its dominant shareholder. At that level of control, he benefited greatly from Azul's growth and its 2017 IPO, when the airline was valued at over US$2.3 billion—a peak that briefly made Neeleman a billionaire on paper.

However, Azul's financial fortunes shifted. In 2025, Azul underwent a major out-of-court restructuring involving a capital increase of 3.37 billion reais (approx. US$590 million), debt-to-equity conversions, and new share issuance to lessors and bondholders. While Neeleman still holds 67% of the common voting shares, the economic (ownership) value of his stake has been heavily diluted. Today, his economic ownership in the company is reported at around 4% of the total share base. As part of that same restructuring, debt holders are expected to become majority economic owners, possibly up to 80% of Azul, while preferred and manager shares comprise the rest.

Azul now trades under ticker AZUL4 on Brazil's B3 exchange, with a market capitalization between BRL 1.2-1.3 billion (roughly US$230-250 million) in recent sessions. Given Neeleman's roughly 4% economic ownership, his stake in Azul is currently worth approximately US$9-10 million.

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Management Style and Legacy

David Neeleman has long been known for his restless energy and hands-on approach to management. He frequently obsesses over small details that others overlook, whether it's the way seat belts are arranged after flights or the efficiency of boarding procedures. This constant tinkering has led to industry-changing innovations, from electronic ticketing at Morris Air to in-flight television at JetBlue. At the same time, his impatience and intensity have sometimes made him a disruptive presence within established companies, contributing to his departures from both Southwest and JetBlue.

Neeleman has been open about living with ADHD, crediting the condition with fueling his relentless creativity and idea generation. Colleagues often describe him as someone who thrives by "bouncing ideas" with others, constantly challenging norms and searching for new efficiencies. His influence on the airline industry is significant: he has consistently targeted underserved routes, lowered fares, and introduced comfort-focused features that reshaped passenger expectations. Today, with Breeze Airways showing steady growth and reporting profitability, Neeleman has proven once again that his playbook of affordable fares, smart service upgrades, and unconventional thinking can still succeed in an era dominated by larger carriers.

Other Ventures

Among his other ventures, Neeleman served as the CEO of Open Skies, a touchscreen reservation and check-in systems company. In 1999, the company was acquired by Hewlett-Packard. Later, in 2013, Neeleman and his younger brother Mark co-founded Vigzul, a home security and monitoring company.

In 2014, the government of Portugal sold a 66% stake in its flag carrier, TAP Air Portugal. Among the bidders was Neeleman, who, with Humberto Pedrosa, formed the Atlantic Gateway consortium that took control of 61% of the TAP Air Portugal Group. The pair promised to maintain Brazil as the main hub for the airline for a minimum of 30 years.

Personal Life

In 1980, Neeleman married Vicki Vranes. They had ten children together and eventually divorced in 2013. Neeleman holds citizenship in Brazil, the United States, and Cyprus. David's son, Daniel, is married to Hannah Neeleman, who has become famous for promoting the "trad wife" lifestyle through her social media account Ballerina Farm.

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