Everything you need to know about Blake Mycoskie Net Worth
Blake Mycoskie is an American author, philanthropist, and entrepreneur who has a net worth of $300 million as of March 2021. He is most popular as the founder of TOMS Shoes, TOMS Roasting Co., and the co-founder of Madefor. In addition to his thriving businesses, Mycoskie has several accolades to his name like being named in fortune’s “40 under 40” list in 2011 and being awarded person of the week by ABC news.
Here are some more interesting and unknown facts about the guy who was given the Secretary of State’s Award for Corporate Excellence in 2009;
Early Life and Education
- Black Mycoskie was born in Arlington, Texas on the 26th of August, 1976. His father Mike Mycoskie was a well-renowned orthopedic surgeon and his mother Pam Mycoskie was an author. He attended high school at Arlington Martin High and after that he graduated from St.Stephen’s Episcopal School in Austin, Texas in the year 1995. After graduating, Mycoskie attended the Southern Methodist University in 1995 on a partial tennis scholarship. There he got a dual major in business and philosophy.
During his time at the Southern Methodist University, Mycoskie had aspirations of becoming a tennis player but that plan was sidetracked when he suffered an Achilles tendon injury in the sophomore year which ended his career.
Starting His Business Career
- After his injury, Mycoskie left SMU and launched his first business by the name of EZ laundry. The idea for EZ laundry was originally focused on the SMU campus because it had no on-campus dry cleaning service available. But eventually, the business expanded. Mycoskie started with a half dozen employees and by late 1998 that number rose to 40 as he started servicing three universities. By the time 1999 rolled around, his company had generated close to $1 million in sales. Mycoskie ended up selling this company to his partner in late 1999.
Successful Businesses and other Ventures
- After selling his company EZ laundry, Mycoskie moved to Nashville and founded a company by the name of Mycoskie Media. This company was established as an outdoor billboard company that was primarily focused on the promotion and marketing of country music. The company quickly gained a large amount of success in a relatively small time and was bought by Clear Channel only nine months after its launch.
After this sale, Blake and his sister Paige auditioned for and appeared in the second season of the amazing race and got third place. He moved to Los Angeles after this competition in 2001. After moving there Mycoskie co-founded the cable network called Reality Central with Larry Namer. The network launched in 2003 and aired original reality-based content and re-runs. Despite its moderate success, the network folded in 2005 after the launch of the Fox Reality Channel.
- After the folding of Reality Central, Mycoskie partnered up with the founders of TrafficSchool.com and created DriversEd Direct which was an online company that offered behind-the-wheel training in hybrid and sports vehicles.
Creation of Shoes for Better Tomorrow and TOMS Roasting CO.
- Mycoskie visited Argentina in 2006 and saw how the children living there in poor conditions had no shoes to wear which caused blisters, sores and infections. After witnessing all of this he returned to America and founded Shoes for Better Tomorrow. With the help of this company, he also created the “One for One” business model where the company would donate a new pair of shoes for every one sold. This company was started in 2006 and by 2013 they had donated more than 10,000,000 pairs of shoes to people in need.
At SXSW in 2014, Mycoskie announced that he will be launching a company called TOMS Roasting Co. This company was focused on coffee which was sourced through direct trade efforts all over Peru, Rwanda, Honduras, Malawi, and Guatemala. He further announced that the company would donate a week of water to people in need for every bag of coffee sold. In 2014 he further announced that this company will also launch a new “One For One” product every year.
In August of 2014, he sold 50% of TOMS to Bain Capital and donated 50% of all his profits to establish a brand that supported local entrepreneurship and other causes. In March 2020, Mycoskie launched a wellness program called Madefor with Pat Dossett.
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