Samuel Newhouse Jr Net Worth $8.9 Billion
Samuel Newhouse Jr. is the Chairman and Chief Executive Officer of Conde Nast who has an estimated net worth of $8.9 billion as of February 2015 according to Bloomberg Billionaires Record. Samuel Irving Newhouse Jr., born on November 8, 1927 in New York City, has earned his estimated net worth as the co-owner of the publishing giant Advance Publication along with his brother Donald. The publication company was set up by their dad, Sam Newhouse (d. 1979), who’s a first-generation American who turned the Bayone Times into the biggest privately-held paper chain in the nation. The Newhouse brothers helped expand the business and now, it offers Bright House Cable plus a position in Discovery Communications, the operator of cable and satellite television networks for example Discovery Channel and TLC. Donald is responsible in overseeing the newspaper business while Samuel is the head of Conde Nast, a magazine office of the corporation. Conde Nast includes titles for example Vogue, The New Yorker and Wired. Despite facing Conde-Nast tough times in many years, the magazine industry is starting to gain in the increased ad sales, most especially with all the trend magazines. British Vogue has launched Miss Vogue for the teen readers in May. Also referred to as S.I. or Si, he possesses an extensive modern art collection. Among the most precious paintings on earth that he possesses include a Jackson Pollock drip painting entitled No. 5, 1948. He was recorded as among the top 200 art collectors in the world by Art News.