Today it was announced that Samuel Irving “Si” Newhouse Jr. has passed away. Si Newhouse is best known for his work on building the Conde Nast fortune.
Newhouse amassed a huge amount of money over his life, including from his publishing empire as well as other areas.
So what is Si Newhouse net worth 2018? What will happen to his money? Read on…
Si Newhouse began his work as a publisher when he was young. He was the child of publishing business veterans, who owned several publishing companies and outlets, such as a local New Jersey newspaper.
Si Newhouse’s father himself was a billionaire, and was worth over $1.5 billion at the time of his death, according to a 1996 ranking. That $1.5 billion would be worth a whopping $5.5 billion today.
The father’s company bought around a dozen news outlets across the country, making him extremely wealthy over his life.
That money was passed down to Si Newhouse, along the businesses, which Newhouse grew even larger. He and his brother build to Conde Nast into one of the largest companies in the publishing industry.
Some of the properties he owned include Vogue, Vanity Fair, The New Yorker, and more. He also owned a large number of news papers, and even some TV stations.
As of 2018 Si Newhouse had amassed much more than he was previously believed to have. In fact, with the values of some of his biggest properties rising, as well as some of his internet properties, such as Reddit, his fortune has recently skyrocketed.
Reddit alone, for example, was recently valued at $1.8 billion.
According to Forbes, Si Newhouse net worth 2018 was $12 billion. That money will go to his children and others, as his wife recently died. One of his children was featured in the documentary Born Rich.