Net Worth Ranker
What Is Jonah Peretti’s Net Worth?
Jonah Peretti, an American internet entrepreneur, has accumulated a net worth of $15 million. This financial standing is largely attributed to his pivotal role in founding BuzzFeed, a prominent digital media company.
BuzzFeed’s Valuation and Peretti’s Stake
BuzzFeed experienced significant growth, reaching a private market valuation of $1.7 billion at its peak. The company transitioned to a publicly traded entity through a Special Purpose Acquisition Company (SPAC) merger in March 2021, initially valued at $720 million. Peretti holds 6,437,416 shares of BuzzFeed, representing roughly 4% of the total outstanding shares. At BuzzFeed’s peak valuation of $1.7 billion, his stake was valued at approximately $85 million. The value of his shares as a public company reached $60 million at its highest point. However, by November 2023, BuzzFeed’s stock (BZFD) had experienced a substantial decline, losing 97% of its share price value, leading to concerns about being delisted from the NASDAQ. The stock price plummeted from $10 per share to around $0.30 per share, reducing the value of Peretti’s shares to $1.9 million before taxes.
Early Ventures and Career Beginnings
Peretti’s initial foray into the digital realm gained traction with his involvement in the creation of “The Huffington Post” in 2005, alongside Arianna Huffington and Kenneth Lerer. “The Huffington Post” quickly became a widely read news platform, showcasing Peretti’s ability to blend traditional news with the emergent blogging platform. His success with “The Huffington Post,” which was later acquired by AOL in 2011 for $315 million, established him as a forward-thinking media strategist. In 2006, he founded BuzzFeed. BuzzFeed started as a viral lab and evolved into a global media company, known for its content mix, including quizzes, listicles, and long-form journalism. His understanding of social media dynamics and the importance of shareable content has been central to BuzzFeed’s growth and influence.
BuzzFeed’s Financial Trajectory
Jonah Peretti’s net worth is closely tied to BuzzFeed’s financial performance. In 2012, BuzzFeed secured $35 million in funding, followed by an additional $50 million in 2014, which valued the company at $1 billion. In 2016, NBC Universal invested $200 million in BuzzFeed, valuing the company at $1.7 billion. That year, the company reported annual revenues of $260 million. Comcast invested an additional $400 million into Buzzfeed over the years. According to Peretti, in 2018, the company generated over $100 million in revenue from business lines that didn’t even exist in 2017. In January 2019, Buzzfeed laid off 15% of its staff due to underperformance despite reaching $300 million in annual revenue. In January 2020, the company reported a $12 million loss.
BuzzFeed Stock Performance and Peretti’s Holdings
According to the most recent company filing, Jonah Peretti owns 6,437,416 shares of BZFD. When BuzzFeed initially went public via SPAC, those shares were worth as much as $60 million. When the stock price hit $1.5 in July 2022, his shares were worth a little less than $10 million on paper pre-tax. By November 2023, BZFD had lost 97% of its share price value, having fallen from $10 a share to around $0.30 per share. At $0.30, his shares were worth $1.9 million, on paper pre-tax. The fluctuations in BuzzFeed’s stock price have a direct impact on Peretti’s personal net worth.
Real Estate Investments
In 2020, Jonah Peretti invested $5.2 million in a residence located in the Los Feliz neighborhood of Los Angeles. Prior to this purchase, Peretti and his wife, Andrea Harner, owned a smaller home in the same area, valued at approximately $2 million. The newly acquired property, previously owned by Dave Keuning, the guitarist/songwriter of the band The Killers, spans just over 5,000 square feet. The property features grey oak floorboards, walls of glass, and white marble countertops. There is also a private balcony, a walk-in closet, and a resort-style bath. Outside, the property takes a decidedly tropical style with plenty of lush plants and an infinity pool enclosed by an exotic wood deck. The residence also provides extraordinary views of the surrounding hills and LA’s skyline.
Personal Life and Family Connections
Jonah Peretti is married to Andrea Harner, and they are parents to twin sons. He also has a notable family connection within the entertainment industry, as he is the brother-in-law of director Jordan Peele, who married Peretti’s sister, Chelsea Peretti, in 2016.
Jonah Peretti’s Net Worth Contributions
Jonah Peretti’s $15 million net worth is not solely derived from BuzzFeed but also from his earlier ventures, such as “The Huffington Post.” His strategic decisions, including investments in real estate and his stock holdings in BuzzFeed, play a crucial role in his overall financial standing. His ability to identify and capitalize on emerging trends in digital media has been a driving force behind his financial success.
Additional Ventures and Early Career
Born on January 1, 1974, in Contra Costa County, California, Jonah Peretti’s educational background includes a degree in Environmental Studies from the University of California, completed in 1996. During this period, he also taught computer science classes at a secondary school. Later, Peretti attended MIT and completed a postgraduate degree. While at MIT, he gained viral attention after an email exchange with Nike corporate executives, who declined his request to print “sweatshop” on a custom pair of shoes. He also earned viral infamy after launching the popular website BlackPeopleLoveUs.com and through the “New York Rejection Line” project, which he created with his sister Chelsea Peretti.
BuzzFeed’s Content Strategy and Evolution
Peretti’s approach at BuzzFeed has been groundbreaking in understanding how content circulates online and how to harness that for media consumption. His strategies for leveraging social media platforms and optimizing content for them have been studied and emulated across the industry. Under his guidance, BuzzFeed has expanded its reach with ventures into video content, establishing BuzzFeed Motion Pictures, and experimented with various forms of digital storytelling. The evolution of BuzzFeed from a viral content tracker to a multifaceted media company reflects Peretti’s adaptable leadership and innovative approach to digital media.
