Adam Aron, the CEO of AMC Theatres, has accumulated an impressive fortune all thanks to his investments. His current net worth and salary explored.
In December 2015, Adam Aron took the position as the current CEO of AMC, one of the most popular movie theatres in the United States.
He succeeded Craig Ramsey, who had been appointed after Gerry Lopez resigned.
Even before AMC, he co-owned and is still a co-owner of the NBA giant team, the Philadelphia 76ers.
While he is known as head of a number of wealthy companies, many want to know more about his finances, like, how much money he makes and his fortune. Read on for more.
Who is Adam Aron?
Aron was born on September 30, 1954, in Philadelphia, Pennsylvania, United States.
He comes from a Jewish family.
He graduated from Abington Senior High School in suburban Philadelphia, Pennsylvania, where he was friends with future Yale School of Management professor Jeffrey Sonnenfeld and future United States Secretary of Defense Ash Carter.
He then attended Harvard University, where he graduated cum laude with a bachelor’s degree in government and an MBA with distinction from Harvard Business School.
He served as the CEO of Starwood Hotels, Norwegian Cruise Line, and Vail Resorts before joining the AMC team.
Additionally, Aron served as the CEO of the Philadelphia 76ers.
He accepted the position in 2011 after he became co-owner.
Aron was the NBA team’s CEO until 2013, and while he might’ve stepped down, he still remains a co-owner of the franchise.
He has also worked with Hyatt Hotels and United Airlines.
What is Adam Aron’s net worth?
The American businessman has made a more than impressive fortune over the years.
Adam Aron has accumulated an estimated current net worth of over $200 million, according to a report by CNBC.
He accrued his fortune from his primary career as an entrepreneur. Mainly, the bulk of his money comes from his work as the President/CEO/Chairman of AMC Entertainment Holdings, Inc. and AMC Entertainment Inc.
He also earns more money from being the co-owner of the Philadelphia 76ers, additionally serving as its CEO from 2011 to 2013.
In 2006, Aron formed a personal consultancy, World Leisure Partners, Inc. His contributions were hailed by Newsweek during his time at Vail with the headline: “Vail Resorts is a peak performer. CEO Adam Aron has transformed the U.S. ski industry.”
Per the New York Post, Aron took home a $23.7 million pay package in 2022.
AMC had been on the verge of bankruptcy in 2021 but was able to avert disaster after millions of retail investors turned it into a so-called “meme stock” — with the shares soaring to nearly $60. The stock closed at $11 on Thursday.
Aron unloaded a trove of AMC shares worth $7.1 million in January 2022, according to a Securities and Exchange Commission filing.
It came just one year after Aron sold more than $40 million in shares, after disclosing his plan in an earnings call last August.
At the time, the CEO of the world’s largest movie theater chain said he was turning 67 in September, and that he was selling shares for estate planning purposes.
“Prudent estate planning suggests I should diversify my assets a bit, especially with Congress having been discussing imposing potentially soaring capital gains tax rates and significant changes to what can be passed on to one’s heirs,” said Aron, who’s now 69.
When did Adam Aron start working for AMC Theatres?
Aron was appointed CEO of AMC Entertainment in December 2015.
At the time, AMC board member Jack Gao called Aron the “person best positioned to lead AMC into the future.”
“Adam’s background in producing results at traditional, consumer-driven, entertainment businesses makes him the person best positioned to lead AMC into the future,” Gao said, via Business Wire.
“Adam has demonstrated an ability to target capital investments, implement customer-focused innovations, and organize his teams to drive incredible guest experiences that produce exceptional financial returns.
“We are confident that Adam’s diverse experience, vision, and focus will continue to elevate AMC in its pursuit to be the guest-experience leader in the theatrical exhibition industry.”
In a separate statement, Aron called the job an “incredible opportunity.”
“This is an incredible opportunity to lead one of the most recognized and iconic brands in the entertainment industry,” he said, via Business Wire.
“AMC Theatres is at the forefront of developing customer-focused innovations at theatres across the country, such as plush recliner chairs and new sight and sound technology. Even so, I believe we have the capacity to raise the bar even higher.
“…As a lifelong movie fan myself, I am looking forward to winning with this team and amazing our guests,” he added.
Aron replaced interim CEO Craig Ramsey, who had been appointed after Gerry Lopez resigned.