The co-founder of Vice Media Inc. has overseen the transformation of the 23-year-old outfit from a Montreal punk magazine to a global media powerhouse, based in Brooklyn. Smith reportedly holds the largest equity stake of Vice’s three co-founders. The company’s valuation was pegged at $5.7 billion after a $450 million investment from San Francisco-based private equity firm TPG last year. The outlook has been tempered somewhat by recent misses on revenue targets of more than $100 million last year.
Smith stepped down as chief executive in March of 2018 after a New York Times investigation into the company’s sexist work environment. A lawsuit also was filed in Los Angeles claiming the company violated the federal Equal Pay Act and similar laws in New York and California. A&E Networks reportedly invested $250 million that helped with the creation of Vice’s TV channel Viceland. Walt Disney Co. has invested $400 million into the company for an 18 percent stake, according to media reports.
Last year: $1.1 billion
RESIDENCE: Santa Monica
SOURCE OF WEALTH: Media
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