Net Worth Ranker
What Is Les Gold’s Net Worth?
Les Gold, a prominent figure in the pawn industry and reality television, has accumulated a considerable Les Gold’s net worth. As a third-generation pawnbroker and the face of American Jewelry and Loan, his Les Gold’s net worth is estimated to be around $5 million. This Les Gold’s net worth is primarily derived from his ownership and operation of the pawn shop, as well as his involvement in the TruTV reality series “Hardcore Pawn.”
Early Life and Career Beginnings
Leslie “Les” Gold was born on June 20, 1950, in Detroit, Michigan. His lineage traces back to a Jewish pawnbroker grandfather who owned “Sam’s Loans,” a now-defunct pawnshop in Detroit. Gold’s entrepreneurial spirit emerged early; at seven, he made his first sale at his grandfather’s shop. By age 12, he was already running his own business, buying and reselling pizza slices to students at The Hebrew School in Michigan.
In 1978, Gold ventured into business and established his first pawnshop, American Jewelry and Loan, situated in the Green Eight Shopping Center on 8 Mile Road in Oak Park, Michigan. In 1993, the store relocated to a former bowling alley on Greenfield Road in Detroit, near 8 Mile. This new location provided significantly more space, allowing the business to expand its operations.
American Jewelry and Loan: A Family Empire
By 2011, Les Gold expanded his enterprise by opening a second location in Pontiac. American Jewelry and Loan has grown into a 50,000-square-foot establishment, employing over 45 individuals. Known for his shrewd negotiation skills, Gold is the embodiment of a seasoned pawnbroker.
Currently, there are five American Jewelry and Loan locations across Michigan, collectively employing approximately 200 people. The business is structured as a family-owned operation. Les Gold’s son, Seth, serves as the general manager, overseeing marketing efforts. His daughter, Ashley, holds the position of assistant manager. This family dynamic underscores the long-term vision of American Jewelry and Loan as a multi-generational enterprise.
“Hardcore Pawn” and Television Fame
In 2009, Les Gold began starring in the reality show “Hardcore Pawn” on truTV. The concept for the show emerged over a decade prior when indie producer Richard Dominick noticed ads for Gold’s store during “Jerry Springer” commercial breaks. Dominick initially approached the Gold family with the idea, but Les was hesitant. His son, Seth, however, saw the potential and pursued the concept. Ultimately, in late 2009, a pilot episode of “Hardcore Pawn” was filmed, with Les Gold as the co-executive producer alongside Mike Hamson. Starting in season three, both Les and Seth received executive producer credits.
“Hardcore Pawn,” produced by RDF USA, captured the drama, conflict, humor, and absurdity between the staff and customers of American Jewelry and Loan. The show ran for nine seasons and 162 episodes, between 2010 and 2014, significantly boosting Les Gold’s profile and that of his business.
The premiere episode attracted 2 million viewers, making it truTV’s most-watched premiere in history. While some critics viewed “Hardcore Pawn” as a “Pawn Stars” knock-off, Gold maintained that his show presented a more authentic depiction of a pawn shop’s daily operations. Gold also defended the authenticity of the show, asserting that no part of the program was staged.
Author and Philanthropist
In June 2013, Gold released his autobiography, “For What It’s Worth: Business Wisdom from a Pawnbroker,” published by Penguin/Portfolio. The book details the establishment of his successful pawn shop and offers advice for those in the field. It quickly became a success, hitting #4 on the “New York Times” Best Seller List in the “How-To” category on June 30, 2013. The following month, it ranked #8 in the Hardcover Business Books category.
Gold actively supports The Heat and Warmth (THAW) Fund, an organization that assists local families with their electricity and heating bills. He has hosted fundraisers at his store, including “Hardcore THAW” in February 2013, which raised over $40,000 for THAW.
Personal Life and Real Estate
Les Gold has been married to his wife, Lili Gold, since 1975. In 1987, Les and Lili acquired a 1.5-acre property in Bloomfield Hills, Michigan, for $145,000. The property includes a 6,000-square-foot home. Today, the property is estimated to be worth around $1.5 million. This real estate investment contributes to Les Gold’s overall financial portfolio.
