1. What is Michael Stern Net Worth?
Michael Stern is an American entrepreneur and investor who has an estimated net worth of $1.7 billion as of 2021. He is the founder and CEO of Zumiez, a retail chain specializing in action sports apparel and equipment. He also owns a stake in the Seattle Mariners baseball team and is a part-owner of casino operator Wynn Resorts.
Stern has been involved in the retail industry for over four decades, starting with his first job at The Gap after graduating from college in 1984. From there, he went on to work at Old Navy, Nordstrom, and then eventually to Zumiez where he served as CEO from 1998 until 2020 when he stepped down from his role but remains on the board of directors.
He has been credited with taking Zumiez from a small regional chain to a national powerhouse with over 600 stores across the US. His business acumen has earned him numerous awards including being named one of Forbes Magazine’s top entrepreneurs under 40 in 2009, one of Fortune Magazine’s Most Powerful People in Business in 2011, and one of America’s Best CEOs by Institutional Investor Magazine in 2012.
2. Michael Stern Early Life
Michael Stern was born on June 8, 1961 in Chicago, Illinois. He attended the University of Wisconsin-Madison where he earned his bachelor’s degree in business administration and economics. After college, he worked for various companies in the retail industry before founding Zumiez in 1978 with his brother Tom.
At that time, Zumiez was just a small store selling skateboards out of their parents’ garage but soon grew into a multi-million dollar company thanks to Stern’s business savvy and leadership skills. The company went public on NASDAQ under the symbol “ZUMZ” in 2005 and now boasts annual sales of over $1 billion dollars annually with more than 600 stores across North America and Europe.
3. Michael Stern Career
Stern began his career working for various retail companies such as The Gap, Old Navy and Nordstrom before founding Zumiez with his brother Tom back in 1978 out of their parents’ garage. Over the years they have grown it into a multi-million dollar company which now boasts annual sales exceeding $1 billion dollars annually with more than 600 stores across North America and Europe combined.
His success at Zumiez led him to become an investor as well as an owner/operator within other industries such as professional sports teams like the Seattle Mariners baseball team which he co-owns along with Microsoft co-founder Paul Allen; casino operators like Wynn Resorts; real estate firms; technology startups; venture capital funds; private equity firms; media companies; non-profit organizations; educational institutions; plus many more investments all around the world!
4. Michael Stern Biography
Michael Stern is an American entrepreneur who has an estimated net worth of $1 billion dollars as of 2021 due to his success at building up Zumiez into one of the most successful action sports apparel retailers worldwide today! He was born on June 8th 1961 in Chicago Illinois where he attended University Wisconsin Madison before entering into various retail businesses such as The Gap Old Navy Nordstrom etc… After founding Zumiez alongside his brother Tom back 1978 out their parent’s garage they have since grown it into a multi million dollar company boasting annual sales exceeding 1 billion dollars annually across 600 stores globally! His success has also enabled him become investor/owner within other industries such professional sports teams like Seattle Mariners baseball team (co owned Microsoft co founder Paul Allen) casino operators Wynn Resorts real estate firms technology startups venture capital funds private equity firms media companies non profit organizations educational institutions plus many more investments all around world!