What is Shane Smith's net worth?
Shane Smith is a Canadian-American journalist and entrepreneur who has a net worth of $50 million. Shane Smith earned fortune and fame as a co-founder of VICE. At his peak, Shane was a billionaire (mostly on paper). His net worth first crossed the billion-dollar mark in June 2017 after the company raised $450 million at a $5.7 billion valuation. At that point Shane owned 28% of the company, which meant he was worth $1.6 billion on paper. The goal was for Vice to eventually go public. That never happened and unfortunately by May 2023 Vice was reportedly nearing bankruptcy. Vice eventually sold to its creditors for $350 million in a bankruptcy deal.
Originally a publication dedicated to the punk lifestyle, Vice magazine later expanded to include music, art, news, and fashion. In the 2000s, it began to branch out into multi-media conglomerate. Shane co-founded the company with Gavin McInnes and Suroosh Alvi. Gavin left the company in 2007 due to creative differences and was bought out for an estimated $10-20 million.
VICE company expanded into film, television, publishing, and music. As a journalist for VICE, he has covered major stories in Iran, Russia, and Liberia, and he co-hosted the series, "VICE" on HBO. The program follows Smith and other VICE reporters as they travel around the world.
Vice Valuations and Bankruptcy
Below is a history of Vice's funding rounds and resulting 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
Shane owned 28% of Vice after the 2017, $5.7 billion valuation funding round. So at that point Shane Smith's net worth on paper was $1.5 billion.
In March 2014, Shane announced that Vice was potentially considering going public down the road. He also claimed if that happened, Vice would seek a $29 billion valuation. At that level, Shane's net worth would have been $8 billion.
In late April 2023, it was reported that Vice was potentially on the verge of going bankrupt.
How Much Money Did Shane Make Off Vice's Funding Rounds?
Between 2011 and 2017 Vice raised over $1 billion. When Vice raised around $500 million over those two rounds in 2014 and 2015, Shane Smith sold $100 million worth of his own shares.
Mike Windle/Getty Images
Early Life and Education
Shane Smith was born on September 28, 1969, in Ottawa, Ontario, Canada. He spent his childhood in Ottawa and later attended Carleton University, where he studied English Literature and Political Science. While at Carleton, he began his career in journalism, writing for the university's newspaper, The Charlatan. In 1994, Smith graduated from Carleton University with a Bachelor of Arts degree.
Founding of Vice Magazine
After graduating, Smith moved to Montreal, where he met future Vice co-founders Gavin McInnes and Suroosh Alvi. In 1994, they launched Voice of Montreal, a government-funded community magazine focused on punk music, fashion, and culture. In 1996, they changed the name to Vice and expanded its content, aiming to become "the first global youth media brand." The magazine gained notoriety for its provocative and controversial content, reflecting the founders' irreverent attitude.
Getty Images
Global Expansion of Vice Media
In 1999, Smith and his co-founders relocated Vice's headquarters to New York City. They began to diversify their media offerings by launching several digital channels, including Vice News, Noisey, and Munchies. Smith also started producing and hosting documentaries, covering topics ranging from political conflicts to environmental issues. In 2013, Vice Media launched its own television network, Viceland, which further extended its reach into the media landscape.
Throughout this period, Smith forged strategic partnerships with major media companies, such as HBO and A&E Networks. These collaborations helped Vice Media secure funding and expand its audience, turning it into a multi-billion dollar company.
Awards and Recognition
As a journalist and documentary filmmaker, Shane Smith has received numerous awards for his work, including multiple Webby Awards, Peabody Awards, and Emmys. His fearless reporting and dedication to telling important, underrepresented stories have earned him the respect of his peers in the media industry.
Philanthropy and Social Impact
Smith has used his success and influence to support various philanthropic causes and promote social change. He has been actively involved in environmental conservation efforts and has produced several documentaries on climate change. Additionally, he has used Vice's platform to shed light on important social issues, such as LGBTQ+ rights, mental health, and criminal justice reform.
Personal Life
Shane Smith was formerly married to Tamyka Smith, and they have three children together. She reportedly filed for divorce in 2021.
Despite his public persona as a hard-partying, fearless journalist, Smith has often described himself as a family man and enjoys spending time with his wife and children. In his free time, he is an avid traveler and has visited over 80 countries, many of which were for his documentary work with Vice.
Real Estate
In 2015 Shane and his then-wife Tamyka paid $23 million for a home in Santa Monica, California. They reportedly never set foot in the 3.35-acre property, buying it sight-unseen. This house was used in the final shootout seen of "Beverly Hills Cop." Shane and Tamyka did very well on this purchase. Amid their reported divorce, they sold the Santa Monica home in April 2021 for a little under $49 million.
In May 2021 Shane paid $11.7 million for a mansion in Malibu, California.
Here is a video of Shane's $49 million former Santa Monica estate:
In 2015 Shane paid $2.65 million for a 5,200 square foot mansion in La Quinta, California. The home sits on the 13th green of a golf course. He listed the home for sale in November 2023 for $5.2 million.
