| Net Worth | Salary | Birthdate | Birthplace | Gender | Height | Profession | Nationality |
|---|---|---|---|---|---|---|---|
| $200 million | $450,000 (base salary) | November 21, 1948 | New York City | Male | N/A | Businessman | American |
Table of Contents
- What is George Zimmer’s Net Worth?
- Highlights
- Early Life
- Career
- Personal Life
- Net Worth Over Time
- Components of Net Worth
What is George Zimmer’s Net Worth?
George Zimmer has a net worth of $200 million. He accumulated his wealth through his successful career as the co-founder and former CEO of the clothing retailer Men’s Wearhouse. Additionally, he launched the on-demand personal tailoring network zTailors and the online suit rental company Generation Tux, where he currently serves as chairman and CEO.
Highlights
– George Zimmer has a net worth of $200 million.
– He co-founded and served as the CEO of Men’s Wearhouse.
– Zimmer launched zTailors and Generation Tux after leaving Men’s Wearhouse.
– He is well-known for his appearances in Men’s Wearhouse television commercials.
– Zimmer supports drug advocacy and has made donations towards research and the legalization of marijuana.
Early Life
George Zimmer was born on November 21, 1948, in New York City to a Jewish family. He attended primary school in Scarsdale, New York, and later enrolled at Washington University in St. Louis. In 1970, Zimmer graduated from WashU with a degree in economics.
Career
After his college graduation, Zimmer initially worked as a substitute teacher before joining his father’s clothing manufacturing business, Royalad Apparel. In the 1970s, he gained experience as a purchasing agent and salesman in Dallas and Hong Kong.
In 1973, Zimmer and his father co-founded Men’s Wearhouse in Houston, Texas. He played a crucial role in expanding the company, which went public in 1992 with approximately 100 stores. Zimmer’s memorable appearances in Men’s Wearhouse television commercials, where he guaranteed customers would like the way they looked, contributed to the company’s success.
Throughout his tenure, Zimmer acquired various competitors, such as Kuppenheimer, Moores, and After Hours Formalwear, turning Men’s Wearhouse into an industry consolidator. In 2011, he stepped down as CEO but continued to serve as the company’s spokesperson.
Unfortunately, in mid-2013, Zimmer was fired from Men’s Wearhouse for undisclosed reasons. He openly expressed concerns about the company’s direction to the board, which led to his termination.
Personal Life
George Zimmer is married to Lorri, and they have four children together. The family resides in Northern California and Hawaii. Over the years, they have owned multiple impressive properties, including a $6 million home in Lafayette, California, which they sold in 2022, and a $5.8 million home in Piedmont, California, purchased in 2021.
Additionally, the Zimmers purchased two oceanfront lots comprising 7.5 acres on Hawaii’s Big Island in the 1990s. They built a luxurious mansion with seven bedrooms and nine bathrooms, which they listed for $35 million in 2015. Ultimately, they sold the estate for $18 million in 2018 and bought another property along the coast.
Net Worth Over Time
George Zimmer’s net worth has fluctuated over the years, primarily influenced by his involvement with Men’s Wearhouse and his subsequent ventures. As of now, his net worth stands at $200 million.
Components of Net Worth
Zimmer’s net worth consists of various components, including:
1. Men’s Wearhouse Stock Holdings: During his tenure as CEO, Zimmer owned a significant number of shares in Men’s Wearhouse. He sold a considerable portion of these shares, contributing to his wealth.
2. Earnings from Men’s Wearhouse: In addition to his stock holdings, Zimmer earned a base salary of $450,000 as CEO, along with bonuses and other benefits.
3. zTailors: Zimmer launched zTailors, an on-demand personal tailoring service, in 2015. As the chairman and CEO of the company, he likely receives compensation and benefits.
4. Generation Tux: Zimmer also founded Generation Tux, an online suit rental company, and serves as its chairman and CEO. His involvement with the company contributes to his overall net worth.
Overall, George Zimmer’s net worth is the result of his successful career in the retail industry, his entrepreneurial ventures, and his strategic investments.
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