What is Jamie Siminoff’s net worth?
Jamie Siminoff has a net worth of $400 million. He is a US-born entrepreneur, inventor, and the founder of the smart home business Ring Inc.
You might have seen him on Shark Tank in late-2013—his business failed to secure funding and backing by any of the sharks.
Or, you might have seen him all over the internet in 2018 when the self-proclaimed inventor—he doesn’t like to call himself a businessman—sold his company to Amazon.com for almost $1.5 billion.
Here’s what we know about the tenacious young creative who took setback after setback to finally come out on top—in a very big way.
But First…What Is Ring?
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Ring is a household name now.
Even if you don’t know the name, you’ve probably seen one—or you’ve got one at home.
It’s the first-ever wi-fi-powered video doorbell.
It’s the thing used to record deliveries to your home, to check what time someone got home, and to reduce crime in your neighborhood.
The doorbell itself is linked to your phone, so you hear a chime from wherever you are—at the store, in the office, at the mall.
The video is motion-sensitive, so you can take a snapshot of what’s going on outside your front door when you’re not there.
Jamie Siminoff invented it so he could see who was at the front door while he was working on other inventions in his backyard workshop.
The Origin Story
Jamie Siminoff, Founder, Ring at Centre stage during day two of Web Summit – @Getty
Jamie Siminoff was born on October 18, 1976, in Chester, New Jersey, in the US.
He was always a curious kid, pulling things apart at home to figure out how they worked.
He had a great imagination, too, according to high school teachers that taught Siminoff at West Morris Mendham High School.
After graduating from high school in the Mendham Borough of Morris County, Siminoff headed for the bright lights of Massachusetts.
He enrolled at Babson College in Wellesley—a school renowned as one of the best private business schools in the world.
Babson was considered the place to be for entrepreneurs—and Siminoff was 100% sure he was going to be an entrepreneur one day.
He graduated from Babson College in 1999 and headed for Southern California.
He still lives there today, but he’s got company now: wife Erin Lindsey and their son Oliver.
An Uphill Battle
Jamie Siminoff speak onstage during Day 2 of TechCrunch Disrupt SF – @Getty
Things must be pretty sweet for a guy who became a billionaire in his 40’s.
But Siminoff didn’t always have it so good.
He invented the Ring—or what he was calling the Doorbot—in 2011, and he appeared on the hit television show, Shark Tank, two years later.
He was seeking funding, but the Sharks weren’t buying.
They all chose not to invest in Siminoff’s business.
This wasn’t a good time for Jamie.
Years later he would explain that by the time he appeared on the investor show, he was broke. But things were about to get worse.
The two-year stretch from 2015 to 2017 was the hardest for the Siminoff family.
With a toddler, a wife, and a mortgage, Siminoff said that he couldn’t stop—or he’d probably lose his house.
There were times he’d wake up crying, worried about how he was going to provide for his family today.
A Lovable Guru
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Siminoff is often hailed as a breath of fresh air and an example for young entrepreneurs everywhere, but it’s his honesty that is the real hit with his followers.
When asked why he didn’t raise $100 million before he started his business, he answered that “nobody would give me a friggin’ $100 million!”
He also looks back on the time someone commented on him losing a fund. He said he wished it had been one fund—instead, it was everybody.
Fortunately, Siminoff had built other companies before.
He knew he could do it again—but he needed to stick with it.
That stickability is what would eventually see Amazon.com buy his company for over a billion dollars.
It’s also the reason he was called back to the Shark Tank in 2019—this time as a guest judge.
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Treat Yourself
Jamie Siminoff introduces the Blink Video Doorbell during Amazon Devices and Services Announcement – @Getty
There are a lot of things entrepreneurs buy to celebrate the sale of their business—especially when that business has netted them $1 billion.
Luxury cars, mega-mansions, private jets.
Unless you’re Jamie Siminoff—then you treat yourself to a mountain bike.
The bike cost Siminoff $8,000, and he found it while he was walking around with his future Amazon boss during the due diligence process of Ring’s sale.
At the time, he said to the Amazon executive, “If this deal closes, I’m buying that.”
A few months later, he did.
Wife
Jamie Siminoff is married to Erin Siminoff, the EVP at 21st Century Fox. She oversees the Alvin and the Chipmunks franchise.
Erin Siminoff attends The Hollywood Reporter’s annual Next Generation reception – @Getty
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Net Worth 2024
So, how much is Jamie Siminoff worth? Siminoff earned most of his wealth from founding and managing his smart home and home security company Ring Inc. In 2018, Jamie sold his company to Amazon for $1 billion. Therefore, lifelong inventor Jamie Siminoff has an estimated net worth of $400 million.
Watch Jamie Siminoff on the other side of the table in his guest spot on Shark Tank.
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I am Bulgarea Candin Stefan, and I founded FamousPeopleToday.com in 2018. I’m using my bachelor’s degree in economics and 9 years of experience in blogging to guide millions of people through the incredibly complex world of celebrity net worths.