Net Worth Ranker
What Is David Neeleman Net Worth’ Net Worth?
David Neeleman, a prominent Brazilian-American businessman and aviation entrepreneur, has accumulated a net worth of $400 million. This wealth is primarily derived from his successful ventures in the airline industry, where he founded or co-founded several notable companies. His career is marked by a consistent focus on low-cost airline models and innovative customer service strategies.
Early Ventures and Airline Foundations
Neeleman’s entrepreneurial journey began in 1984 when he co-founded Morris Air with June Morris. Based in Salt Lake City, Utah, Morris Air distinguished itself as the world’s first airline to adopt e-ticket travel. This innovation streamlined the booking process and reduced operational costs, contributing to its success. In late 1993, Morris Air was acquired by Southwest Airlines for over $120 million in stock, a deal that earned Neeleman $25 million. This early success provided the capital and experience necessary for his subsequent ventures.
Following his departure from Southwest Airlines in 1994, Neeleman co-founded WestJet Airlines with Clive Beddoe. Headquartered in Calgary, Alberta, WestJet aimed to offer a low-cost alternative to Canada’s established airlines. Beginning operations in 1996, WestJet initially focused on routes within Western Canada. Over time, it expanded to include destinations across North America, Central America, Europe, and Asia. WestJet’s success as a low-cost carrier further solidified Neeleman’s reputation as an innovative leader in the aviation industry. In 2019, WestJet was acquired by Kestrel Bidco, transitioning it into a private company.
In 1998, Neeleman founded NewAir in Queens, New York, which was later rebranded as JetBlue Airlines. JetBlue adopted the low-cost approach pioneered by Southwest Airlines while also introducing amenities such as in-flight entertainment and Sirius XM satellite radio. Commencing operations in early 2000, JetBlue quickly gained popularity among travelers. The airline operates over 1,000 daily flights to destinations across the United States and Europe, showcasing its significant market presence. Neeleman served as CEO of JetBlue until 2007, when he was succeeded by David Barger, and as chairman of the board until 2008, when Joel Peterson took over. During his tenure, JetBlue established itself as a major player in the airline industry, known for its customer-friendly approach and innovative offerings.
Neeleman’s entrepreneurial spirit extended beyond North America with the founding of Azul Brazilian Airlines in 2008. Headquartered in Barueri, a suburb of São Paulo, Azul aims to provide frequent and low-fare air service to underserved markets in Brazil. As chairman of Azul, Neeleman has overseen the airline’s growth into a significant regional carrier. Azul’s focus on serving smaller cities and towns has made air travel more accessible to a wider segment of the Brazilian population.
In 2018, Neeleman founded Moxy Airways, a low-cost airline headquartered in Cottonwood Heights, Utah. Renamed Breeze Airways in early 2020, the airline commenced operations in 2021 with a flight from Tampa Bay International Airport to Charleston International Airport. Breeze Airways focuses on domestic routes throughout the United States and utilizes a point-to-point network to connect smaller cities. As CEO of Breeze Airways, Neeleman continues to innovate in the airline industry by targeting underserved markets and offering affordable air travel options.
Other Ventures and Investments
Beyond his airline ventures, Neeleman has engaged in other business activities, including his role as CEO of Open Skies, a company specializing in touchscreen reservation and check-in systems. In 1999, Hewlett-Packard acquired Open Skies, demonstrating the value of Neeleman’s technological innovations in the travel industry.
In 2013, Neeleman and his younger brother Mark co-founded Vigzul, a home security and monitoring company. Vigzul aimed to provide affordable and reliable security solutions to homeowners, reflecting Neeleman’s interest in diversifying his business portfolio.
In 2014, the Portuguese government decided to sell a 66% stake in its flag carrier, TAP Air Portugal. Neeleman, in partnership with Humberto Pedrosa, formed the Atlantic Gateway consortium and successfully bid for a 61% controlling stake in the TAP Air Portugal Group. The consortium committed to maintaining Brazil as the airline’s primary hub for at least 30 years, demonstrating Neeleman’s strategic vision for the airline’s future. Specific financial details of the deal are proprietary, but this investment marked Neeleman’s entry into the European aviation market.
Personal Details
David Neeleman was born on October 16, 1959, in São Paulo, Brazil. He has two brothers, Stephen and Mark. At the age of five, his family relocated to Sandy, Utah, in the United States. Raised in the Church of Jesus Christ of Latter-day Saints, Neeleman served a two-year mission in Brazil as a young adult, an experience that likely influenced his later business ventures in the country.
In 1980, Neeleman married Vicki Vranes. Together, they had ten children before divorcing in 2013. Neeleman holds citizenship in Brazil, the United States, and Cyprus, reflecting his international background and business interests. His son Daniel is married to Hannah Neeleman, who gained fame for promoting the “trad wife” lifestyle through her social media account, Ballerina Farm. This personal detail provides insight into the family’s diverse interests and activities.
Net Worth Composition
David Neeleman’s estimated net worth of $400 million is primarily composed of his holdings in various airline ventures. A significant portion of his wealth is likely derived from his equity in Azul Brazilian Airlines and Breeze Airways. While the specific breakdown of his assets is not publicly available, it is reasonable to assume that his investments in these airlines, along with proceeds from the sale of Morris Air and his previous roles at JetBlue and WestJet, contribute substantially to his overall wealth.
It’s important to note that net worth figures are often estimates based on publicly available information and industry analysis. Private investments and assets are not always disclosed, which can make it challenging to determine an exact net worth. However, based on his track record of successful airline ventures and his continued involvement in the aviation industry, it is reasonable to conclude that David Neeleman’s net worth is in the range of $400 million.
