What Is Les Gold's Net Worth and Salary?
Les Gold is a third-generation pawnbroker who has a net worth of $5 million. Les Gold is the charismatic patriarch of American Jewelry and Loan. He became famous after his business and family were featured on the TruTV reality series "Hardcore Pawn." Hardcore Pawn aired 162 episodes over nine seasons between 2010 and 2014. The reality show featured Les' children, Seth Gold and Ashley Gold, both of whom are involved in the family business.
Early Life and Career
Leslie (Les) Gold was born on June 20, 1950, in Detroit, Michigan. A third-generation pawn salesman, Les is the grandson of a Jewish pawnbroker who owned the defunct pawnshop "Sam's Loans" in Detroit, Michigan. At the age of seven, Les made his first sale at his grandfather's shop. By the time he was 12, he had opened his first business, buying and reselling pizzas by the slice to his fellow students at the high school he attended, The Hebrew School in Michigan. In 1978, Gold opened his first pawnshop called American Jewelry and Loan. it was located at the Green Eight Shopping Center on the infamous 8 Mile Road in Oak Park, Michigan. The store was moved to its current location in 1993, a former bowling alley on Greenfield Road in Detroit, near 8 Mile.
Career
In 2011, Les opened a second location in Pontiac. His jewelry store is a 50,000-square-foot empire, and he is the boss of more than 45 employees. This hard-nosed, old-school pawnbroker is the epitome of street-smart savvy and is known for driving a hard bargain. There are now five locations of the pawn shop across Michigan, which employ around 200 people.
American Jewelry and Loan is more than just a pawn shop; it is a family-owned business. All of Les's children are employed there, and he hopes that one day they will take it over. The shop's general manager is Les's son, Seth. He handles all the marketing. His daughter Ashley is the assistant manager.
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In 2009, Gold began starring on a reality show called "Hardcore Pawn" on TruTV. He had first been approached nearly over a decade prior when indie producer Richard Dominick saw ads for Gold's store during a commercial break of an episode of "Jerry Springer." Dominick approached the Gold family with an idea for a reality TV show based on his pawn shop. Les met the approach with hesitancy, but his son Seth pursued the idea and finally, in late 2009, the pilot of "Hardcore Pawn" was filmed with Gold at the helm as series co-executive producer alongside Mike Hamson. Beginning in season three, Les and Seth were both credited as executive producers.
"Hardcore Pawn" is an American documentary reality television series produced by RDF USA. The main focus of this show is on the human aspects of drama, conflicts, humor, and absurdity between the staff members and their customers. "Hardcore Pawn" has been accused of being simply a knock-off and a capitalization on the breakout success of "Pawn Stars." But Les reassures you that "Hardcore Pawn" is a more realistic portrayal of a pawn shop than "Pawn Stars." There are all walks of life that come into his pawn shop. It's about the day-to-day operations of American Jewelry and Loan, a family-owned pawn shop. Some scenes in "Hardcore Pawn" have also been speculated to have been staged; however, Les defends the show, saying that no part of the program was staged. The premiere of "Pawn Stars" drew in 2 million viewers, which was truTV's most-watched premiere in history.
Other Ventures
Gold published his first book, an autobiography called "For What It's Worth: Business Wisdom from a Pawnbroker," in June 2013. Published by Penguin/Portfolio, the book details how he established his successful shop and includes advice for people in the field. On June 30th, 2013, the book hit #4 on the" New York Times" Best Seller List in the "How-To" category. It went to #8 in the Hardcover Business Books category the following month.
As far as philanthropy goes, Gold is an active supporter of The Heat and Warmth (THAW) Fund. The organization assists local families in need with paying their electricity and heat bills. He has been known to hold fundraisers at his store. A particular party called "Hardcore THAW" was held in February 2013 and raised over $40k for THAW.
Personal Life & Real Estate
Gold has been married to his wife, Lili Gold, since 1975. In 1987, Les and Lily paid $145,000 for a 1.5-acre property with a 6,000-square-foot home in Bloomfield Hills, Michigan. Today this home is worth around $1.5 million.
