Herbert Allen is a well-known American businessman. He is the Chairman of Allen & Co. As of April 2016, Allen is estimated to have a net worth of $1.49 billion. His net worth places him among the top 1 percent of the wealthiest people in the world. Allen was born Herbert Anthony Allen Jr. in 1940 and graduated from Williams College in 1962. During his early career, he worked as a computer programmer and subsequently went on to work as a consultant to Fortune magazine.
Although he is a billionaire, many don’t know much about his personal background. His office is filled with American paintings. He was raised on a ranch in Cody. Allen began collecting American paintings as a young man, when he couldn’t afford impressionist paintings. His office also contains an impressive collection T.D. Kelsey Western sculptures. Allen also has a ranch in Cody, Wyo., and his ranch has been visited by Warren Buffett.
Allen is a successful businessman in the media sector. Allen holds stakes in many prominent tech companies, including Zillow, Google, Zillow and Yelp. Herbert A. Allen III, his son, recently took control of Columbia Pictures. Herbert is a businessman and also serves on the Coca-Cola Company’s board. Herbert’s family is the single largest shareholder in the company.
Patti Herbert, Allan Herbert’s wife, is a generous and selfless philanthropist. She has donated millions of dollars to many causes, including the University of Miami. The Herbert Foundation are two charities that she has supported. Herbert’s wife donated $8 million to help fund a wellness center at the university. Herbert and his wife, unfortunately, have recently died. Herbert is an inspiration to many.
Herbert Allen also has other homes. He lives in Williamstown (Mass.) and Southampton (N.Y.), as well as in an apartment at Manhattan’s Carlyle Hotel. Donnie, his Labrador black Labrador dog, is with him on all of his travels. They used to live at the Ritz-Carlton New York, but were told that pets weren’t allowed. Allen purchased the controlling interest in Columbia Photos in 1973.
In addition to his investments in the music and film industry, Allen holds an astounding number of shares in Coca-Cola. His shares make up less than 1% of the company. He is the largest individual owner in Coca-Cola. In August, he was named Chairman of Allen & Co. Herbert has also accumulated more than 12 million shares in the popular soda maker. Herbert has been an active investor for decades in media.
Having founded the Allen & Co., Herbert Allen was influential in the company’s management and established close ties with the CEO, Roberto Goizueta. In 1993, he retired from Coke and became chairman of Allen & Co. He was renowned for his business acumen, contacts, and Irish charm which helped him to build a multimillion-dollar fortune. Forbes magazine ranked his net worth as $1.65 billion. Allen is not the only notable celebrity with a net worth comparable to his.