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Sidney Harman was the owner of Newsweek and the founder of Harman International Industries Inc. He rescued the flailing Newsweek from financial collapse. This man was able to make a fortune as a pioneer in audio speaker business. He died at the age of 92. Harman was the founder of the stereo maker, which developed the first stereo receiver and concert-hall loudspeaker.
Forbes estimated that his net worth was more in the range of $600 million. Sidney has never made it to the Forbes or Fortune billionaire list as his net worth had been quite difficult to quantify. His wife is often cited as one of the richest members of Congress with a fortune estimated at $112 million in 2009.
Earnings & Financial Data
|
Date |
Category |
Description |
Amount |
|---|---|---|---|
|
2017 |
Sale of Asset |
Sale of Harman International's digital processing for audio products to Samsung Electronics |
$8,000,000,000 |
|
2010 |
Salary |
Estimated non-stock compensation from Harman Kardon |
$3,500,000 |
|
2008 |
Asset |
Estimated value of Sidney Harman's 2.9 million shares in Harman International Industries, the maker of high-end audio components |
$350,000,000 |
|
2006 |
Sale of Asset |
Sale of Sidney Harman's shares in Harman Kardon |
$110,000,000 |
|
2004 |
Sale of Asset |
Sale of Sidney Harman's shares in Harman Kardon |
$43,000,000 |
|
1980 |
Asset |
Purchase value of Harman International from Beatrice Foods |
$55,000,000 |
|
1976 |
Sale of Asset |
Sale of Harman International to Beatrice Foods, a large conglomerate |
$100,000,000 |
|
1953 |
Asset |
Sidney Harman's investment in the Harman Kardon Company |
$10,000 |