Leonard Riggio was a retail industry titan. His most famous achievement is being the creator of Barnes & Noble, the biggest chain of bookstores in the US. Born in Little Italy in Manhattan on February 28, 1941, Riggio’s early years were characterized by a strong passion for reading and academic achievement.
Having advanced two grades in Brooklyn Technical High School, he graduated at the age of sixteen and started taking night sessions at New York University. However, working in college bookstores turned out to be his true education, and he developed a strong passion for retail.
Career of Leonard Riggio
Leonard Riggio experienced several career high points. By acquiring Barnes & Noble, he turned the company into a retail giant and raised the bar for bookstores all over the country.
His innovative attitude contributed to the transformation of the bookstore from a basic retailer to a gathering place where people went to unwind, read, and socialize.
In addition, he was a co-founder of MBS Textbook Exchange, a leading textbook distributor, and Barnes & Noble College Booksellers, a renowned campus shop operator.
He founded GameStop, a significant player in the video game retail industry. for Riggio, it was anything from easy sailing. Following the onset of the 2010s, Barnes & Noble struggled, losing multiple CEOs and witnessing a sharp decline in the value of its shares.
His impact on the industry at large was undeniable, and until his retirement as chairman in 2019, he was a crucial player in the retail sector.
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Leonard Riggio’s Net Worth in 2024
Unique News Online says that Leonard Riggio’s net worth is estimated to be around 142 million dollars as of August 27, 2024. This illustrates his significant ownership involvement in GameStop and Barnes & Noble.
Riggio is the owner of roughly 2,472,096 shares of GameStop, valued at approximately 51 million dollars, and approximately 14,052,132 shares of Barnes & Noble, valued at over 91 million dollars.
This incredible portfolio serves as a reliable indicator of his continued influence in the economic world.
Leonard Riggio’s Assets, Cars, Houses
As of the latest available information, there are no detailed public records specifically outlining Leonard Riggio’s assets such as cars and houses.
- Stock Holdings: He owned significant shares in Barnes & Noble Inc. (14,052,132 shares) and GameStop Corp. (2,472,096 shares), which were valued at over $91 million and $55 million, respectively.
- Business Interests: Riggio was a major figure in the retail industry, particularly in bookselling and video games, through his roles at Barnes & Noble and GameStop. He also had interests in MBS Textbook Exchange, Inc., and was involved in Thoroughbred racing through his farm, My Meadowview Farm.
- Philanthropy: Riggio was involved in various philanthropic activities, including the establishment of Project Home Again to assist residents of New Orleans affected by Hurricane Katrina. This initiative involved significant financial contributions and efforts to rebuild homes.
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