Co-Founder, CEO
Vizio Inc.
THE NUMBERS: Largest U.S.-based flat-panel TV makers, trails only Samsung Electronics Co. among sales in the country. Last year, the company brought in over $2 billion in revenue. That’s up 11% from the prior year, with 2020 net income totaling $102.5 million, up from $23.1 million in the year prior.
EMERGING BUSINESS: Vizio’s Platform+ allows for streaming of services such as Amazon Prime Video and Apple TV+ on its TVs. Another growing unit, Inscape, helps advertisers with targeted advertising. In other words, Vizio not only wants to generate revenue selling TVs, but also make money off the ads consumers see on those screens.
THE IPO: Had a nearly 56% stake in company before it was taken public in March, regulatory filings indicate. Vizio (NYSE: VZIO) is now worth about $5 billion, and shares are up more than 40% from the IPO price. It’s unclear how much of his holdings in the company have been diluted post-IPO, as he transferred his ownership into a new class of shares that give him voting control over all company matters.
• NET WORTH: $1.5 billion
• LAST YEAR: $900 million
• RESIDENCE: Newport Beach
• SOURCE OF WEALTH: Vizio
