How rich is Noel Lee?
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Noel Lee information
Noel Lee information
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Noel Lee Net Worth, Biography, Wiki 2017-2016
Noel Lee was born on the 25th December 1948, in San Francisco, California USA, and is a businessman and executive, best known as the CEO of Monster Inc., a company that produces cables and audio wires. Lee’s career started in 1971.
Have you ever wondered how rich Noel Lee is, as of early 2017? According to authoritative sources, it has been estimated that Lee’s net worth is as high as $100 million, an amount earned through his successful career in engineering. In addition to being the CEO of a lucrative company, Lee has also played drums in a rock cover band, which improved his wealth too.
Noel Lee Net Worth $100 Million
Noel Lee is the son of Sarah and Chein-San Lee, who worked for China’s Central News Agency, and grew up in California along with his four sisters. Noel developed an interest in music when a child, and went to the San Francisco City College before studying at California Polytechnic State University, from where he graduated in 1971 with a degree in mechanical engineering.
Straight out of college, Lee took a job in the Lawrence Livermore National Laboratory, where he worked as a laser-fusion design engineer, while on weekends he played the drums with his cover band called Asian Wood. Lee quit his job as an engineer to join the band on a world tour in 1974, but after moving to Hawaii to begin touring, it was cancelled, so the group stayed on the island for 18 months, playing gigs in the meantime. After that, Noel returned to San Francisco and found work as an engineer with the Lawrence Berkeley National Laboratory. His net worth was established.
In 1979, Lee used $50,000 of his money to finance his project and demonstrate cables at the Consumer Electronics Show in Chicago. His products were well-received, so later that year Noel founded Monster Inc., with an initial order of 30,000 cables from a Canadian distributor. The dealer didn’t want to pay until the cables are shipped, so Lee took a $250,000 bank loan to produce the project. Only six years after its foundation, Monster Inc. had an annual revenue of $50 million and 400 employees, and its products are now sold in over 15,000 stores, owning more than 375 patents. For example, Lee and his son collaborated with Dr. Dre on the Beats brand of headphones, which was then sold to Apple for $3 billion in 2014.
In 2004, Noel bought the rights to the San Francisco 49ers American Football club stadium, changing its name to Monster Park; however, the citizens and local government were against the idea that the city stadium should adopt a corporate name, and it was reverted after the four-year deal expired.
Regarding his personal life, Noel Lee is married and has two children and two step-children. He has a collection of old sports cars and likes collecting gadgets, is a good friend with Carlos Santana and George Benson, and is currently living in Hillsborough, California.
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