What is Rande Gerber's net worth?
Rande Gerber is an American entrepreneur and former model who has a net worth of $400 million. Rande Gerber is probably best known for being married to Cindy Crawford and for co-founding Casamigos tequila with George Clooney. They sold Casamigos to Diageo in 2017 for $1 billion. He has been married to Cindy Crawford since 1998, and they have two children: son Presley and daughter Kaia Gerber.
Biography
Born in the Five Towns area of Long Island on April 27, 1962, Rande Gerber graduated from the University of Arizona with a degree in marketing. He worked as a model for a number of years before shifting his focus to business.
Rande Gerber's career is a fascinating blend of entrepreneurship, hospitality, and branding, making him a prominent figure in the business world. He is widely recognized for his contributions to nightlife and entertainment through his innovative approach to bars, restaurants, and lounges.
Gerber's journey began in the 1990s when he founded The Gerber Group, a company that would go on to revolutionize the bar and nightlife scene. His first venture, the Whiskey, set the tone for his unique approach to hospitality. The Whiskey, a bar located in the Paramount Hotel in New York City, broke the mold of traditional bars and lounges with its sophisticated yet accessible ambiance. This model was a hit, leading to the expansion of The Gerber Group, which opened several more successful bars and lounges across the United States.
What set Gerber's establishments apart was their combination of stylish, contemporary design with a comfortable, welcoming atmosphere. These venues became popular among celebrities, and the fashionable set yet remained accessible to a broader audience. His success in the nightlife industry earned him a reputation as an innovator and a trendsetter.
In addition to his ventures in hospitality, Gerber is also known for his collaboration with George Clooney and Michael Meldman in founding Casamigos Tequila. Launched in 2013, Casamigos started as a private collection of tequilas meant for their personal enjoyment. However, the brand quickly gained popularity and became known for its smooth, rich flavor. In 2017, in a testament to its success, Casamigos was sold to Diageo for $1 billion, marking a significant milestone in Gerber's entrepreneurial career.
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Casamigos Tequila
Rande Gerber, George Clooney, and real estate tycoon Michael Meldman are the founders of Casamigos Tequila. The three originally launched the brand as a private label to give tequila to friends and family. They turned the brand into a public label in 2013. On June 21, 2017, Clooney, Gerber, and Meldman agreed to sell Casamigos to alcohol conglomerate Diageo for $1 billion. They will be paid $700 million in cash plus $300 million in bonuses that will be paid out based on future performance goals.
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Real Estate
Cindy and Rande own or have owned a number of extremely impressive properties over the decades. Some notable examples include:
In 1998, Rande and Cindy paid $1.85 million for their first oceanfront Malibu home. They listed this home for sale in 2019 for $7.5 million. Before listing it for sale, they had been renting this home for $45,000 per month.
In 1999, the Crawford-Gerbers paid $4.8 million for a massive oceanfront property in Malibu. In 2015, they paid a mouth-watering $50.5 million for the two-parcel property next door to create a 6-acre compound. In 2018, the sold half of the property for $45 million. Here is a video tour of that property from when it was listed:
In 2017, they paid musician Ryan Tedder $11.625 for one of his Beverly Hills mansions.
They previously owned a mansion in the uber-exclusive El Dorado Golf & Beach Club community in Los Cabos, Mexico. Rande's tequila partner, George Clooney, owned the house next door. In April 2016, a Mexican billionaire paid $100 million to buy both homes at once, $50 million a pop.
They previously owned a 23-acre property in the hills above Malibu that, at one time, was a kid's camp. They bought the property in 2014 for $6 million, spent millions on upgrades and renovations, then sold it for $13.3 million in 2016.
