- Category:
- Richest Business › CEOs
- Net Worth:
- $75 Million
- Birthplace:
- Fort Wayne, Indiana, U.S.
- Profession:
- Businessperson
- Nationality:
- American
What is Patrick Byrne's Net Worth?
Patrick Byrne is an American entrepreneur who has a net worth of $75 million. He is best known for being the former CEO of Overstock.com.
Patrick Byrne was born in Fort Wayne, Indiana in 1962. He graduated from Dartmouth College and Cambridge University and earned his Ph.D. from Stanford University. He launched Overstock in 1999 and took the company public in 2002. In 2005 he was known for his campaign against illegal naked short selling and has been an advocate for cryptocurrencies with Overstock.com being the first major online retailer to accept bitcoin in 2014. Byrne took a leave of absence in 2016 for health reasons. In 2019 he resigned after allegations of him being in an intimate relationship with Maria Butina along with controversial comments he made. He has also served as the chairman of EdChoice and an investigative journalist. He was named Entrepreneur of the Year by Ernst & Young.
Stock Holdings: In September 2019 Patrick announced his intention to sell all of his shares in Overstock, roughly 4.8 million shares, or 13% of the company. The sale announcement came a few weeks after putting out a bizarre press release related to the Maria Butina affair. On September 18, 2019, an SEC filing confirmed that Patrick had sold all but 87,000 shares in the company, generating $90 million in pre-tax proceeds. The remaining 87,000 shares were gifted to an unnamed entity.
