Burt Shavitz Net Worth
During his lifetime, Burt Shavitz built a multi-million dollar business in rural Maine. In 1991, he co-founded Burt’s Bees with Roxanne Quimby. After the pair split in the late 1990s, Quimby bought out most of Shavitz’s shares. This left Shavitz with an undisclosed amount of money. However, promotional appearances kept his net worth intact. Burt Shavitz’s net worth was estimated to be $2 million when he passed.
Before starting his company, Shavitz sold honey products. He was originally from Great Neck, New York, but moved to Dover-Foxcroft, Maine when he became a beekeeper. His company began to grow, and he was able to sell beeswax lip balms and candles at local markets. He also started taking photos for Time and Life magazine.
During his time in the company, he started having a romantic relationship with Roxanne Quimby. They were married and had twins in 1978. They both had a love of the outdoors and shared a deep respect for the earth. They also were business partners. They created a line of beeswax candles, and Quimby made products from Shavitz’s beeswax. Eventually, their product line would become famous internationally. In 2007, their company was purchased by Clorox Corporation for $925 million.
In addition to his role as a businessman, Shavitz was also a photographer and a peacenik. He was born Ingram Berg Shavitz on May 15, 1935. He was raised in Great Neck, New York, and then moved to the backwoods of Maine. He lived “off the grid” in a converted turkey coop. He had no phone and no electricity. He also had a golden retriever named Pasha.
Burt Shavitz died on July 5, 2015, at the age of 80. His death was a result of respiratory complications. The company he founded, Burt’s Bees, is currently valued at $925 million. The documentary film, Burt’s Buzz, highlighted his life and his romantic relationship with Quimby.
Burt Shavitz’s net worth was estimated to be $2 million when he passed. He was surrounded by family members when he passed. His business was purchased by the Clorox Corporation in 2007. He left a $35,000 trust fund for his golden retriever, Pasha. When his business was purchased by the Clorox Corporation, he received a $4 million payout from his share of the $173 million deal.
The majority of his wealth came from his Burt’s Bees business. He also had a successful photography career. His pictures were used in magazines such as Time and Life, and he was the face of the company. After the company was purchased, he continued to promote the brand through promotional appearances. He is also president of several philanthropic organizations in Portland, Maine.
Quimby and Shavitz became business partners in the early 1980s. After their romantic relationship ended, they had a falling out. Quimby bought out most of Shavitz’s share of the business in 1999. But Quimby still had a major stake in the company. Afterward, Quimby sold 80% of the company to AEA Investors for $173 million. This gave Quimby a $300 million profit.