What is James Balsillie’s Net Worth?
| net worth: | $800 million |
|---|---|
| age: | 63 |
| date of birth: | February 3, 1961 |
| gender: | male |
| high: | 1.71 m (5 ft 7 in) |
| country of origin: | Canada |
| Source of wealth: | entrepreneur |
| Last updated: | August 1, 2024 |
James Profile
James Balsillie is a businessman and philanthropist. Balsillie was previously co-CEO of Research In Motion.
Since leaving BlackBerry in 2012, he has held a number of roles in Canadian business and society.
He is the founder of the Balsillie School of International Affairs.
James Balsillie’s net worth is estimated to be around $800 million.
early life
James Laurence Balsillie was born on February 3, 1961 in Seaforth, Ontario.
Balsillie received a Bachelor of Commerce degree from Trinity College in 1984.
In college, he was a member of the elite Zeta Psi fraternity.
In 1989, he received an MBA from Harvard Business School.
Profession
After graduating from Harvard Business School, Jim Balsillie became executive vice president and chief financial officer of the design and construction firm Sutherland & Schultz.
He remained in that position until 1992 when the company was sold to the Vollmer Group and Balsillie decided to leave.
That same year, he invested $125,000 in Research in Motion and became co-CEO with Mike Lazaridis.
Although Balsillie is not one of the richest men in the world, he has secured himself a very lucrative future.
Research Trends
When Jim Balsillie became co-CEO, Research in Motion had just 10 employees, but under his leadership the company quickly grew into an international company.
Not only did Research in Motion change its name to BlackBerry Limited after Balsillie joined, but it also had more than 28,000 employees.
Lazaridis handled the technical aspects, while Balsillie oversaw all sales, accounting and business transactions.
However, the dual CEO structure began to hinder the company’s growth as it competed with Steve Jobs’ Apple iPhone and Larry Page’s Android devices.
Shortly thereafter, Jim Balsillie resigned as chairman after the company reported more than $250 million in past accounting errors for stock options.
Of course, he did not leave the company entirely, but retained his positions as co-CEO and director, thus maintaining his influence.
The decline of BlackBerry
In 2007, Apple introduced the first touchscreen smartphone, which pushed BlackBerry further behind the competition.
Two years later, the Ontario Securities Commission imposed sanctions, forcing Jim Balsillie to resign as a director.
However, when the sanctions expired in 2010, Balsillie was almost immediately reappointed to his old position despite shareholder objections.
That same year, BlackBerry fell further behind due to Google’s technology and the fact that the BlackBerry operating system had not been updated since 2002.
By 2011, Balsillie had become BlackBerry’s third-largest shareholder, but after laying off 2,000 employees, the stock price began to fall.
The following year, Balsillie and Lazaridis resigned from their positions and were replaced by Chief Operating Officer Thorsten Heins.
Balsillie resigned from the board as BlackBerry continued its decline, reducing the company from Canada’s most valuable asset to a tenth of its original value.
Although he once dreamed of becoming the next Bill Gates, with the demise of BlackBerry, that goal is looking increasingly unlikely.
NHL Ownership Bid
After leaving BlackBerry, Jim Balsillie founded the Balsillie School of International Affairs and the Center for International Governance and Innovation.
He also tried to become the owner of a National Hockey League team, but all attempts failed.
First, he offered $185 million to buy the Pittsburgh Penguins in 2006, but withdrew his bid by the end of the year.
The following year, he reached a tentative agreement with the Nashville Predators, but team owner Craig Leipold later decided not to complete the deal.
Balsillie then made a $212 million offer to the Phoenix Coyotes on the condition that the team relocate to southern Ontario.
However, his request was ultimately rejected by Judge Redfield Baum, who ruled that Balsillie did not have the authority to relocate the team.
He may not have been able to buy some of the richest hockey players in the world, but his net worth hasn’t been affected.
Despite a bumpy business career, Jim Balsillie remains one of Canada’s wealthiest businessmen, and his wealth continues to grow.
James Balsillie Net Worth
James Balsillie’s net worth is estimated to be around $800 million.
How does James Balsillie spend his money?
Donation by James Balsillie
In 2007, he donated $50 million to the University of Waterloo, Wilfrid Laurier University and the Centre for International Governance Innovation.
emphasize
Here are some highlights from James Balsillie’s career:
- Former Chairman and Co-CEO of Research In Motion (BlackBerry)
James Balsillie’s Favorite Quotes
“There may be 300,000 apps for the iPhone and iPad, but the only app you really need is a browser. You don’t need to develop apps for the web… You don’t need to go through some kind of SDK, you can use your web tools… and you can publish your app to a BlackBerry without writing any native code.” – Jim Balsillie
“No other tech company other than Apple has successfully transformed their platform. It’s almost never done and is much harder than you think. This kind of transformation is where tech companies go to die.” – James Balsillie
“Innovation is a very specific thing: the commercialization of ideas across all industries and sectors. It’s a technical, specific, accepted economic definition. And there has been so much commentary and posturing in our country that they’ve taken a very specific, technical and surgical concept and made it broad and general.” – James Balsillie
“Of course. In the U.S., there are 1,100 standards for silicon. Now every standard embodies IP. If your IP is chosen as a standard, you have a lottery. Your competitors have to pay you. Well, as far as I know, Canada has not actually participated in these forums in the past 10 years.” – James Balsillie
“Yes, the people who say these things are defenders of 19th and 20th century orthodoxy. When RIM became part of the Rockstar consortium to buy Nortel’s patents, they got calls at three in the morning from the U.S. Department of Justice, which was writing rules for how buyers could make those patents available to other markets.” – James Balsillie
3 great lessons from James Balsillie
Now that you know about James Balsillie’s net worth and how he achieved his success; let’s take a look at some of the best lessons we can learn from him:
1. Note
You have to have a strong focus on what is important, what is eternal, and what is real.
2. Technology products
Balsillie doesn’t believe that people buy tech products because of the personality of the person behind them.
3. Know the facts
Make sure you’re talking about something. Make sure you have the correct facts.
Frequently Asked Questions
How much is James Balsillie worth?
James Balsillie’s net worth is estimated to be $800 million.
How old is James Balsillie?
James Balsillie was born on February 3, 1961 and is 63 years old.
How tall is James Balsillie?
James Balsillie’s height is 1.71 meters which is equivalent to 5 feet 7 inches.
Summary
James Balsillie is a Canadian businessman who derived most of his net worth from being the co-CEO of the Canadian company Research In Motion.
Born in Ontario and raised in Peterborough, Balsillie’s work impressed many and he was known as an athlete and passionate fitness advocate.
James Balsillie’s net worth is estimated to be around $800 million.
What do you think about James Balsillie’s net worth? Leave a comment below.
Categories: Net Worth
Source: svlsf.edu.vn