James Jannard Net Worth

What is James Jannard's net worth?

James Jannard is an American businessman and designer who has a net worth of $2.4 billion. That net worth makes Jim one of the richest people in Washington. Currently based in San Juan Islands, Washington, James Jannard founded Oakley in 1975. The company was originally devoted to selling rubber grips for BMX bikes and motorcycles. He launched the company from the trunk of his car. Nine years later, he began making sunglasses.

The company rose to prominence after he convinced popular BMX and Motocross stars to wear his lenses. Oakley went public in the mid-90s, and subsequently began to manufacture related items, such as goggles, clothing, and shoes. In 2007 Jannard sold Oakley to Italian company, Luxxotica for $2.1 billion. He did not sell 100% of the company. He reportedly maintained a significant stake and continues to earn dividends from Oakley's profits.

In 2005 Jim Jannard founded the digital camera company, RED.  RED has gone on to become a very successful camera company, with its cameras being used to shoot such feature productions as "The Social Network", "The Girl with the Dragon Tattoo", and "The Hobbit", among many others. In 2010, RED acquired a studio in Hollywood called Ren-Mar and renamed it RED Studios Hollywood.

Jim Jannard Real Estate Portfolio

Jannard privately owns the Fijian islands Kaibu and Vatu Vara, part of Fiji's Lau archipelago. He also owns the 516-acre Spieden Island in the San Juan archipelago in Washington state. Jannard's other properties include Southern California residences in Newport Beach, Malibu, and Beverly Hills. He previously had three homes in Kauai, Hawaii that he sold for $37 million in 2020.

Jim Jannard owns a palatial mansion in Malibu, California which he purchased in 2013 for $74.5 million. This property was actually a holdover from the late Herbalife founder Mark Hughes. For many years this was the record for most expensive home ever sold in Malibu. That record has since been broken with a handful of $100+ million sales. Jim owns another Malibu home, an 11-acre ranch-style property, which he bought the same year for $2.5 million. His primary residence is a 9-acre waterfront estate on Orca Island in Washington. He also owns the entirety of a nearby island called Spieden Island which was acquired in 1997 for $22 million.

Other properties in the Jannard portfolio include a mansion in Newport Coast, California, a 14,000 square-foot home in Las Vegas which was purchased in 2008 for $11.5 million and two properties in Beverly Hills which were acquired for $5.2 and $19.9 million, respectively.

Early Life and Education

James Jannard was born on June 8, 1949 in Los Angeles, California and was raised in Alhambra. His family owned a pharmacy, and his brother Al Jr. grew up to become a druggist. After graduating from Alhambra High School, he attended the University of Southern California, where he studied in the pharmacy school. However, Jannard ultimately dropped out of USC after butting heads with his professors about bringing his dog to class. He went on to travel the southwestern United States by motorcycle.

Oakley

With an investment of $300, Jannard founded the company Oakley in 1975. He named the company after his dog, an English Setter. Originally selling motorcycle parts out of his car at motocross events, Jannard eventually started developing his own sports-related products, including custom handlebar grips, motorcycle and ski goggles, and other eyewear. By 1991, Oakley had around 200 employees, and in 1995 the company went public. Later, starting in 2004, Jannard purchased large quantities of Oakley stock, taking his personal stake in the company to 63% by 2006. That year, Oakley acquired the luxury eyewear brand Oliver Peoples for over $55 million, and purchased Eye Safety Systems for $110 million.

In late 2007, Jannard sold Oakley to the Italian eyewear conglomerate Luxottica in a cash deal worth $2.1 billion. As a result, the brand joined a portfolio featuring such other major eyewear brands as Ray-Ban and Persol. The acquisition also occasioned the move of Oakley's manufacturing out of the United States, with many of its eyewear parts being produced in China.

Red Digital Cinema

As a self-described "camera fanatic" with over 1,000 camera models in his collection, Jannard founded the camera manufacturer Red Digital Cinema in 2005. His goal was to produce a relatively affordable 4K digital camera for use in the film industry. The company launched its first production camera, the Red One, in 2007. With the ability to capture up to 120 frames per second at 2K resolution and 60 frames per second at 4K resolution, the camera was used to shoot such films as Steven Soderbergh's "Che" and "The Informant!" and David Fincher's "The Girl with the Dragon Tattoo." In 2010, Red Digital Cinema released the Red Epic, which was used to shoot such films as Peter Jackson's "Hobbit" trilogy and Baz Luhrmann's "The Great Gatsby." Many other Red cameras and products have been released over the years.

Headquartered in the  Foothill Ranch neighborhood of Lake Forest, California, Red Digital Cinema has studios in Hollywood and offices in London, Shanghai, and Singapore. The company also has retail stores in Hollywood, New York City, and Miami, as well as a number of authorized resellers and service centers around the globe.

Retirement

In October of 2019, Jannard announced his retirement from business due to his age and health concerns.

Personal Life

Jannard has been married twice, and has four children from his two wives. He wed his first wife, Pamela Pittario, when he was 21 and she was 18. Jannard later married Misha.