Mitchell Modell was born in Brooklyn, New York City, USA of Hungarian ancestry; his date of birth is unknown. He is a businessman, who is probably best known for being the President and CEO of Modell’s Sporting Goods, and of Henry Modell & Company. He is also recognized for being the Director of the National Retail Federation Inc. His professional career in business has been active since 2001.
So, have you ever wondered how rich Mitchell Modell is? According to authoritative sources, it has been estimated that the total amount of Modell’s net worth is over $20 million, as of early 2016. Obviously, most of his income is the result of his successful involvement in the business industry as the owner of a family business.
Mitchell Modell Net Worth $20 Million
Mitchell Modell was raised with two siblings in a Jewish family in Brooklyn by his father William D. Modell and his mother Shelby Zaldin. His love for business started from an early age, as his whole family has been in the business industry as the owners of the Modell’s Sporting Goods, since it was founded in 1889 by his great-grandfather Morris A. Modell. The company is a sporting goods retailer and it has been the main source of his and his family’s net worth throughout the years since its inception.
More recently, Mitchell has been appointed as the company’s CEO after the death of his brother Michael Modell in 2001, after complications with Crohn’s disease. His father died in 2008, but had taken a backseat in the business in his later years. Since then he has been more and more featured in various talk shows, and even reality TV series, including the “Undercover Boss” in 2012, which also added considerably to the overall size of his net worth. As of now, Modell’s Sporting Goods owns more than 150 retail stores in several states such as New Jersey, New York, Pennsylvania, and also in Delaware, Virginia, and Maryland, among others. Company revenue has risen considerably, and is now estimated at close to $700 million per year.
The company also serves as a sponsor of numerous professional sports teams, including the Brooklyn Mets, Boston Celtics, New York Rangers, New York Giants, Boston Bruins, and many others, all of which have helped increase the company’s profits, and by that, Mitchell’s net worth too. Undoubtedly, Mitchell’s net worth will become even greater in the forthcoming years, as he successfully continues his career in the business industry.
When it comes to speak about his personal life, there is no information in the media about Mitchell Modell’s private life, as he carefully keeps it to himself . However, in the media is known that he has some legal issues with his sister-in-law, as she accused him for blowing more than $7 million of the company’s profits on personal luxuries.
