What is Russell Weiner's net worth?
Russell Weiner is an American entrepreneur who has a net worth of $5 billion. Russ Weiner earned his net worth as the founder, creator and CEO of the Rockstar Energy Drink company. From the company's inception until 2014, Russ Weiner owned 85% of Rockstar and his mother Janet – an early investor and longtime CFO – owned the remaining 15%. Russell first officially hit billionaire status in 2014 when Rockstar earned a valuation $1.8 billion. In March 2020, Rockstar was acquired in full by Pepsico for $3.85 billion in cash. Rockstar is currently the third most-consumed energy drink in the United States with annual sales north of $800 million. Rockstar is number three behind Monster and Red Bull.
Early Life
Russ Weiner's father a well-known conservative radio personality and talk radio host named Michael Savage. Russ was born in 1970 and grew up in the San Francisco Bay Area. He attended Redwood High School in Marin County, followed by San Diego State University.
Rockstar
Prior to founding Rockstar, Weiner landed a business development position at Skyy Vodka after randomly meeting company founder Maurice Kanbar. After a year at Skyy, Weiner quit to start Rockstar. He had attempted to convince his higher-ups at Skyy to create an energy drink to rival Red Bull but was rejected. So he decided to launch the rival energy drink on his own.
He tried to raise startup money from banks and business colleagues but came up empty. Russ ultimately decided to mortgage his condo in Sausalito, California to raise $50,000 startup costs. Most importantly, his mother Janet also kicked in some funds of her own and was rewarded with a 15% stake in the company.
Russ and Rockstar's major innovation was simple:
A Bigger Can
Russ had always been frustrated by the fact that Red Bull only came in 8 ounce cans. After testing more than 700 variations of the future drink, the final formula was chosen and Rockstar's cans hit the shelves with 12 ounces of liquid in each can.
In 2001 Russ bought a black limo, painted his logo on the side and began driving around offering the drink all over the Bay Area.
The drink was nearly an instant success.
Russ Weiner in 2001 (Photo by Carlos Avila Gonzalez/The San Francisco Chronicle via Getty Images)
Pepsi Acquisition
By the late 2000s, the company was generating over $100 million per year in revenue. By 2014 the company was valued at $1.85 billion. At that level, Russ' 85% equity stake was worth $1.6 billion on paper, before taxes.
In March 2020 Russell sold Rockstar to Pepsi for $3.85 billion. Based on previous transactions, after this sale Russell's net worth topped $4 billion.
Remember how Russell's mom was given 15% of Rockstar in exchange for her early support? At the Pepsi sale Janey walked away with $525 million.
(Photo by Ethan Pines/Forbes Collection/Corbis via Getty Images)
Russell Weiner Real Estate
Russell is an absolutely prolific real estate investor and flipper. Over the last decade he has flipped hundreds of millions of dollars worth of real estate. Add it all up and Russ Weiner's current real estate portfolio (that we know about) is worth at least $150 million. Here are some quick highlights:
In October 2012, Russell Weiner sold his Palm Island Miami mansion to rapper Birdman for $14.5 million. Weiner bought the house out of foreclosure from financially-troubled music producer Scott Storch. Scott Storch paid $10 million for the house in 2006, Weiner bought it for $6.75 million in 2010. Russ flipped it two years later to Birdman for $14.5 million, more than doubling his original investment. Birdman attempted to sell the home in 2018 for $20 million. He ultimately had to accept a $10.9 million offer in November 2020.
In 2013 Russell spent $10 million to buy a beachfront home in Hermosa Beach, California. In March 2019 he listed this property for $21 million. He ultimately accepted $14.3 million for this property.
In September 2019 Russ paid $16.5 million for a 12,500 square-foot mansion in the Hollywood Hills. Russ seems to have a knack for mansions at rock-bottom prices, because this house had actually been bought three years prior for $27 million. At the time of purchase Russ owned at least four other Los Angeles homes including TWO estates in the ultra-exclusive guarded area of Beverly Park. He purchased his first Beverly Park mansion for $15 million in 2007 and the second for $18.6 million in 2015. He also owns Madonna's former Sunset Boulevard compound which he also bought in 2015 for $19 million.
In May 2022 Russ paid $39.6 million for an incredible 17,500 square-foot mansion in Park City, Utah. The sale set the record for most expensive home sold in Utah history. Weiner never actually slept in the mansion. He spent roughly a year performing a handful of additional upgrades and renovations before listing the home for sale in February 2023 for $50 million. Here is a video tour right after the mansion was completed, a few months before Russell acquired it:
