Bloomberg Billionaires Index

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# 82 Donald Newhouse $15.7B

Random fact: Trained at family paper, the Long Island Press, under his uncle.

Overview

Newhouse controls Advance Publications, a closely held media company. The New York-based business has newspapers in more than two dozen American cities, as well as interests in cable TV distribution and programming. Through Conde Nast, it publishes magazines that include Vanity Fair and the New Yorker.

As of :
Last change +$24.8M ( +0.2%)
YTD change +$4.60B ( +41.3%)
Industry Media & Telecom
Biggest asset CHTR US Equity
Citizenship United States
Age 90
Wealth Inherited
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Donald Newhouse's net worth of $15.7B can buy ...

0
troy ounces of gold
0
barrels of crude oil

... and is equivalent to ...

0%
of the GDP of the United States
0%
of the total wealth of the 500 richest people in the world
0%
of the top 100 U.S. college endowments
0%
of the top 200 U.S. executives’ total awarded compensation
0%
of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Newhouse's fortune is derived from U.S. media assets he controlled with his late brother Si. The bulk of their wealth came from the $10.4 billion sale of cable operator Bright House Networks to publicly traded Charter Communications in May 2016. From the sale, the brothers received 31 million Class B common units, more than $2 billion in convertible preferred shares and $2 billion in cash.

The fortune is controlled through closely held partnerships that don't disclose individual ownership stakes. The analysis assumes the wealth was split evenly between the two and that Si Newhouse's half was passed to his estate upon his death in October 2017. 

The Advance/Newhouse Programming Partnership owns a stake in publicly traded television and digital media company Discovery Communication, through the equivalent of 71 million units of Class A common stock and about 117 million units of Class C common stock, according to the 2019 proxy statement.

Revenue for closely held newspaper business Advance Publications and magazine publisher Conde Nast isn't disclosed and is derived using information reported by Privco, a research group that specializes in private company data, trade magazine Advertising Age, and financial analysts.

Conde Nast revenue is calculated at about $1.6 billion in 2018, using the company's print revenue as reported by Privco in 2016 and the performance of peer companies Meredith, Axel Springer and Sinclair Broadcast Group.

Advance Publications revenue is calculated at about $1.2 billion in 2018, based on 2011 revenue reported by Advertising Age -- the last year it conducted a survey of the top 100 media companies -- and revenue performance since then for Gannet, New York Times, EW Scripps and McClatchy.

Biography

Birthdate: 8/1/1929
Family: Widowed, 3 children
Education: Syracuse University

Donald Newhouse was born into a media empire that his father, Sam, started with the purchase of an ailing newspaper in Staten Island in 1922. He turned it around and built the Advance newspaper chain into one of the largest in the U.S. Donald attended Horace Mann private boys school in the Bronx.

Donald and his older brother, Si, both dropped out of Syracuse University so they could begin their business careers. Donald met his wife, Susan Marley, while a student there. They were married in 1955.

After his father's death in 1979, Newhouse and his brother took charge of the family business. Donald ran the newspaper group; Si focused on magazines. The company revived Vanity Fair, bringing in celebrity editors Tina Brown and Graydon Carter, who transformed the glossy into one of the most talked about magazines in the world.

The Newhouses have been enduring the downturn in the print publishing business since 2008. The company has closed half a dozen magazines, including old stalwarts such as Gourmet and House & Garden, and have made big cuts on the newspaper side, including reducing the frequency of an award-winning daily broadsheet, the New Orleans Times-Picayune.

He and his wife are art collectors and the named benefactors for the humanities center at Wellesley College.

Milestones
  • 1930 Donald Newhouse is born.
  • 1955 Marries Sue Marley, who he met at Syracuse University.
  • 1959 Father Samuel I. Newhouse Sr. buys Conde Nast Publications.
  • 1966 Drops out of Syracuse University and joins his father's newspaper empire.
  • 1975 Brother, Si, becomes chairman of Conde Nast.
  • 1979 Father dies at age 84; Si takes reins of the company.
  • 1980 Advance purchases book publisher Random House.
  • 1983 Begins publishing Vanity Fair, which had been shuttered since 1936.
  • 1998 Buys technology magazine, Wired, for $25 million.
  • 2017 Brother Si dies at age 89.