Joe Weider Net Worth

What Was Joe Weider's Net Worth?

Joe Weider was a Canadian bodybuilder, entrepreneur, and author who had a net worth of $35 million at the time of his death in 2013. The man largely responsible for making working out and weight training popular, Joe Weider published the first issue of what would eventually become "Muscle and Fitness Magazine" when he was 17. Joe co-founded the International Federation of BodyBuilders (IFBB) with his younger brother, businessman Ben Weider. Joe was the creator of the Mr. Olympia, the Ms. Olympia, and the Masters Olympia bodybuilding competitions and the publisher of bodybuilding and fitness-related magazines such as "Flex," "Shape," and "Men's Fitness." Weider published numerous books, including "Bodybuilding, the Weider Approach" (1981), "The Olympians: The Story of the Mr. Olympia Contest" (1983), "The Best of Joe Weider's Flex Nutrition and Training Programs" (1990), and "Joe Weider's Bodybuilding System" (2001). Joe developed and manufactured a line of fitness equipment and fitness supplements, and in 1972, the Weider brothers were the target of an investigation led by the U.S. Postal inspectors that involved claims against their weight-gaining product Weider Formula No. 7. There were several other such claims and subsequent settlements over the span of Weider's nutritional supplement career. Joe died of heart failure on March 23, 2013, at the age of 93.

Early Life

Joe Weider was born Josef Weider on November 29, 1919, in Montreal, Quebec, Canada. He was the son of Polish Jewish emigrants Anna and Louis Weider. Joe's younger brother, Ben, was born in 1923. His older brother, Louis, died in his twenties. In 1940, Weider began publishing "Your Physique" magazine, and he used car wheels and axles to make a set of barbells in his family's Coloniale Street garage. In the '50s, Joe designed several training courses, such as the Weider System of Bodybuilding.

Career

In 1936, the family launched Weider Nutrition, which was considered to be the first-ever sports nutrition company. Weider Nutrition, which was later renamed Schiff Nutrition International, created Tiger's Milk nutrition bars. As of this writing, there are two supplement companies featuring the Weider name – Weider Global Nutrition and the Hamburg-based company Weider Germany GmbH. In 1946, Joe and Ben co-founded the International Federation of BodyBuilders. In 1968, they brought a fairly unknown Austrian bodybuilder named Arnold Schwarzenegger to California. Schwarzenegger would, of course, go on to win the Mr. Olympia competition several times, star in blockbuster films such as the "Terminator" and "Expendables" franchises, "True Lies," and "Batman & Robin," and become the Governor of California. "Your Physique" magazine was renamed "Muscle Builder" in 1953 and "Muscle & Fitness" in 1980. Weider also published magazines such as "Shape," "Men's Fitness," "Fit Pregnancy," "Mr. America," "Flex," "Senior Golfer," and "Cooks." In 1983, The Periodical and Book Association named Weider Publisher of the Year. In 2003, he sold Weider Publications to American Media.

In 1972, Joe and Ben were targeted by the U.S. Postal inspectors over claims that their supplement Weider Formula No. 7 could result in consumers gaining "a pound per day" in mass. The product's label featured Arnold Schwarzenegger, and he testified during an appeal. The Weider brothers were ultimately made to alter their marketing tactics and claims. That year Joe also found himself in legal trouble due to claims he made in a booklet titled "Be a Destructive Self-Defense Fighter in Just 12 Short Lessons." In 1976, a judge ordered him to refund 100,000 customers for their purchases of a "five-minute body shaper" when "before and after" photographs were deemed to be false advertising. In 1984, the Federal Trade Commission (FTC) levied charges against him because of misleading ads for Weider's Anabolic Mega-Pak and Dynamic Life Essence. The following year, the complaint was settled after Joe and the company agreed to refrain from falsely claiming that those products could be effective substitutes for steroids. They agreed to pay at least $400,000 in refunds as well. In 2000, Weider Nutritional International agreed to pay the FTC $400,000 due to a complaint regarding alleged weight loss products. The settlement also included a ban on making unsubstantiated claims about supplements, drugs, food, or programs. Joe was the subject of the 2018 film "Bigger," and he was portrayed by "Teen Wolf" star Tyler Hoechlin.

Personal Life

Joe's first wife was Hedwiges "Vicky" Uzar, and they welcomed daughter Lydia before divorcing in 1960. During the marriage, Weider met Betty Brosmer, who was the highest-paid pin-up girl in America at the time. Joe married Betty in 1961, and she began working with him. The couple wrote several bodybuilding books together.

Death

On March 23, 2013, Joe passed away from heart failure at the age of 93. Arnold Schwarzenegger wrote about the loss on his website, stating, "Today, I lost a dear friend and mentor, and the world lost one its strongest advocates of living a healthy lifestyle. Joe Weider was a titan in the fitness industry and one of the kindest men I have ever met." He added, "He leaves behind a fantastic legacy of a fitter world. Very few people can claim to have influenced as many lives as Joe did through his magazines, his supplements, his training equipment, and his big-hearted personality. Joe was known for urging everyone, 'Exceed yourself,' and there is no question that throughout his life, he did just that."

Honors

In 2006, then-California governor Arnold Schwarzenegger presented Joe with a Lifetime Achievement Award from the Venice Muscle Beach Hall of Fame. Schwarzenegger, who was named Mr. Olympia seven times, stated that Weider inspired him to get involved with bodybuilding and travel to the U.S. That year Joe and Ben were honored with a Lifetime Achievement Award from the Young Men's Hebrew Association. Joe, Betty, and Ben were 2014 inductees of the International Sports Hall of Fame.