Jimmy Haslam Net Worth- How Rich Is He And How He Spends His Fortune

• Jimmy Haslam is an entrepreneur who carried on the legacy of his parents. With good investments, he built a great business empire.
• Worth about $4 billion, he is very generous with his benevolence and never misses an opportunity to help out whenever he can.
• Haslam does know how to splurge on himself and his family. Not even losing almost a hundred million dollars after being enforced by the court prevents this.

Jimmy Haslam is an American entrepreneur whose business investments have earned him an estimated net worth of almost $4 billion. In addition to his heavy investments in sports and truck stops, he is also a philanthropist who has donated millions of dollars for charitable courses.

The 70 year-old billionaire was born on 9th March 1954 in Knoxville, Tennesse to his parents Jim Haslam and Cynthia Haslam. He is the CEO of the truck stop chain, Pilot Flying J, and owner of Cleveland Browns of the NFL, as well as co-owner of MLS club Columbus crew.

His father Jim Haslam ll founded the Pilot Oil Corporation in 1958, but it was merged with Flying J in 2010, to become Pilot Flying J. The merger was enough to save Flying J which was already bankrupt.

Here are details of how he made and spend his fortune. Read through to know more about it.

How Jimmy Haslam Earned His Billions

The Knoxville-based billionaire and entrepreneur was born and raised in a family that is known to have been involved in business for several years. He took a page off his father’s book and ventured into business as well. So far, he has invested in sports, truck stop chains, and other businesses that have generated a net worth of almost $4 billion.

Pilot Flying J, which started as Pilot Oil Corporation was established by Jimmy’s father in 1958 when he paid $6, 000 for a gas station in Virginia. Fast forward to today, the company reportedly has close to a thousand locations in North America, generating an annual revenue of nearly $30 billion.

Prior to this, he joined the company’s board in 1975 when he was 20, and still a student at the University of Tennesse. Moreso, at the time, Pilot’s yearly sales were roughly $50 million.

In August 2012, the businessman acquired the Cleveland Browns from Randy Learner for a reported fee of $1.05 billion. Similarly, the sale was authorized by the NFL in October 2020. Before the acquisition, he had the highest stakes in the club, which was approximately $990 million.

In his bid to expand his interest in sports, he joined hands with Pete Edwards to acquire the Major League Soccer (MLS) side Columbus Crew in January 2019. They were said to have paid a whopping $150 million to take over the football club.

Also See- Stephen A. Smith Net Worth – How He Makes and Spends His $16 Million Fortune

How He Spends His Money

Looking at the billionaire’s lifestyle, it seems he prefers to spend his wisely by buying luxury houses and making donations to charities and other courses. For instance, he bought his Knoxville mansion (English Tudor) in early 1996 for $1.4 million. However, he listed the property for sale in 2015 at $4.9 million. It is not clear whether the mansion was acquired by another person or not.

In 2019, the Cleveland Browns owner and his wife Dee Haslam bought the Bratenahl mansion for $4.1 million. The house was built for Anthony Musca and his wife in 1997. According to reports, the acquisition of the mansion became Northeast Ohio’s biggest home sale in years.

The American entrepreneur is a philanthropist. He has donated millions of dollars through his family’s foundation ‘Haslam Giving’. The foundation has funded various organizations serving families in Knoxville, Tennesse, Cleveland, and Columbus, Ohio, running into a hundred million US dollars ($150 million).

The aim of the initiative is to strengthen communities, children, and families to have access to what they need to be successful. It covers areas such as education, social justice, economic development, basic needs, arts, recreation, and sports. They have been doing that since 2005.

Similarly, the billionaire’s philanthropic nature is not only restricted to charities alone but also extended to individuals. For instance, he and his wife donated $10,000 in April 2021 to fund Senator Richard Burr’s defense in an investigation into his stock trades at the beginning of the pandemic.

Did He Lose Money?

In April 2013, an FBI affidavit filed in federal court accused Pilot Flying J of engaging in fraud for 5 years. It said the company allegedly underpaid customer discounts which in turn boosted not only the company’s baseline but also that of its staff.

The company compensated customers and agreed to pay a fine of $92 million following a Criminal Enforcement Agreement.

Some Interesting Facts About Jimmy Haslam

1. How Old Is He?

He was born on 9th March 1954 in Knoxville, Tennesse, the US to his parents Cynthia and Jim Haslam.  He is currently 70 years old.

2. His Younger Brother Was The Former Governor Of Tennesse

The American billionaire’s younger brother Bill Haslam was the former Governor of Tennesse. He was governor of Tennessee from 2011 to 2019 and he won the seat under the Republican party. Before he became governor, he was 67th Mayor of Knoxville Tennessee.

3. Has Three Children

Haslam and his wife Susan ‘Dee’ Bagwell Haslam have three adult children. They are; James Bagwell Haslam who was adopted in 2016, Whitney Haslam Johnson, and Cynthia Haslam Arnholt. He is also a grandfather with 5 grandchildren.

4. He Shared The Same Room With Bob Corker At The University 

The Knoxville-born businessman shared the same room with Bob Corker at the University of Tennessee. Bob later became a Senator US senator from Tennesse.

5. He Is A Member of Sigma Chi

Sigma Chi is one of the largest brotherhoods in North America. Jimmy became a member while he was in school. The brotherhood’s motto is in Latin “In hoc signo vinces”, which is translated to English as “In this sign, you shall conquer”.

Complete profile of Jimmy Haslem