Paul Allen Net Worth
Paul Allen net worth: Paul Allen was an American industrialist, investor, musician, sports team owner and philanthropist who had a net worth of $20 billion at the time of his death in 2018. Paul Allen earned the majority of his personal fortune by being the co-founder of Microsoft. Allen co-founded the software company with his childhood friend Bill Gates. Allen met Bill Gates while they were both attending the Lakeside School in Seattle. He went on to attend Washington State University but dropped out after two years. As computer industry was slowly forming, Allen convinced Gates to drop out of Harvard in order to found a software company. They set up shop in Albuquerque, New Mexico in 1975. It was Allen who eventually dubbed their venture "Micro-Soft". They trademarked the shortened version "Microsoft" on November 26, 1976. The company IPOd on March 13, 1986. After the first day of trading, Allen's 25% stake was worth $195 million. He was 33 years old. As you know by now, over the next few decades Microsoft became one of the most valuable companies in the world and made its founders extraordinarily rich.
Net Worth details: Paul Allen was known for his stake in Microsoft, although the exact amount has not been reported since 2000 because it fell below 5 percent. His fortune was mostly tied to the real estate, private equity, and energy sectors. Allen owned more than 1 million square feet of retail, office, and industrial space in California, New York, Washington, and Oregon. He was involved in Uber, DreamWorks, Plains All America, and Ticketmaster. Allen is said to have lost $8 billion trying to expand broadband too early.
At the time of his death in 2018, Paul Allen was the chairman of Charter Communications, and founder and chairman of Vulcan Inc., his private asset management company. Allen had a multi-billion dollar investment portfolio that included investments in over 40 other media, technology, and content companies. Allen was also the owner of three professional sports teams: the Portland Trail Blazers of the National Basketball Association (NBA), the Seattle Seahawks of the National Football League (NFL), and the Seattle Sounders FC franchise. Allen, like his colleague Gates, was very involved in philanthropy, making more than $2 billion worth of contributions toward the advancement of science and technology, and to organizations related to health and human services. Unfortunately, Paul Allen died on October 15, 2018 at the age of 65 from Non-Hodgkin's lymphoma, a disease he had been battling for several years.