Net Worth Ranker
What Is Jamie Siminoff’s Net Worth?
Jamie Siminoff, the American entrepreneur best known as the founder of Ring, has an estimated net worth ranging between $300 million and $350 million as of early 2025. This wealth is primarily attributed to the sale of Ring to Amazon in 2018. Before Ring, Siminoff founded several ventures, including PhoneTag and Unsubscribe.com.
Ring’s Impact and Acquisition
Siminoff’s journey to success wasn’t without its challenges. In November 2013, he appeared on Shark Tank to pitch DoorBot, a wifi-enabled “video doorbell” that synced to the user’s smartphone. He sought an investment of $700,000 for a 10% stake in his company, valuing it at $7 million. Although he received four rejections from the Sharks, he persevered. One offer came from Kevin O’Leary, which Siminoff turned down. This rejection proved to be a turning point.
After Shark Tank, DoorBot was rebranded as Ring. Ring’s sales demonstrated growth, climbing from $1 million in December 2013 to approximately $5 million by February 2018. Ring attracted investors such as Richard Branson and Goldman Sachs, eventually securing $200 million in investments. On February 27, 2018, Amazon acquired Ring for a reported $1.1 billion. While reports suggested the final acquisition price could reach $1.8 billion, most sources state the final figure as $1.1 billion. At the time, this was Amazon’s second-largest acquisition, surpassed only by the Whole Foods Market acquisition.
While the exact percentage of Ring owned by Siminoff at the time of the acquisition varies across reports, estimates range from 20% to 30%. If Siminoff held 25%-30% of Ring, his gross earnings from the sale would fall between $360 million and $540 million before taxes. Taking taxes into account, his net earnings would be in the range of $180 million to $270 million. The initial $700,000 investment for 10% of the company, which the Sharks declined, would have been worth between $110 million and $180 million based on the final sale price.
Siminoff’s Early Career and Education
Jamie Siminoff’s entrepreneurial spirit emerged early in life. Growing up in New Jersey, he enjoyed taking apart remote-controlled cars and tinkering with electronics. He attended Babson College, where he honed his entrepreneurial skills. At Babson, he ran a business called Gadget Tronics, selling TVs and stereos. He and his friends also took on odd jobs to earn money. Babson taught him that entrepreneurship is not just about starting a business.
Before Ring, Siminoff founded several companies, including a Voice Over IP startup in Bulgaria, a voicemail-to-text converter, and an email decluttering service. While these ventures were “perfectly nice and often ingenious,” they did not achieve significant commercial success. He successfully sold both PhoneTag, the world’s first voicemail-to-text company, and Unsubscribe.com, a service that helped email users clean commercial email from their inboxes, in 2009 and 2011, respectively.
Post-Acquisition and Recent Activities
Following the acquisition, Siminoff continued to lead Ring. In March 2023, he stepped down as CEO to become Chief Inventor. However, in May 2023, he announced his departure from Amazon to pursue new opportunities. Since Ring’s launch in 2013, it has raised over $385 million from firms like True Ventures, Felicis, First Round, and CRV.
Ring operates Neighbors, a social network that allows users to discuss local safety and security issues and share footage captured with Ring products. Ring could also provide footage and data to law enforcement agencies to assist in investigations via Neighbors.
