Alan Gerry is a cable television pioneer who founded Cablevision Businesses (CVI) and he’s got an estimated net worth of $1.3 billion as of March 2013 according to Forbes. He’s rated 1107th in the record of World Billionaires and 347th in the Forbes 400 list.
Alan Gerry Net Worth $1.3 Billion
Gerry was a World War II Marine Corps veteran and TV repair center owner who began constructing an upstate New York cable network in 1956 while attempting to bolster the demand for his TV sets. His original system has just the power to transmit five channels at a time regardless of the accessibility to seven networks. What he did was to change channels for the entire region while swapping outside sometimes a news program into a Yankees game and vice versa. During the 90’s, CVI has created 18 networks from NYC to Florida.
In 1996, Allan Gerry sold CVI to Time Warner to get a reported $2.8 billion while bringing in $900 million in the price. He’s a self described “country boy” who bought the site of the 1969 Woodstock festival after he was encouraged by his youngest daughter. Then he started the Bethel Woods Center for the Arts in 2006 so as to preserve the historic site. It was a $100 million dollar project which was launched in 2004 by the Gerry Foundation.