Tom Freston Net Worth

According to latest data, Tom Freston’s net worth is approximately $300 Million

Tom Freston Wiki Biography

Born on November 22, 1945, in New York City, USA, Thomas E. Freston is a well-known entertainment industry executive and entrepreneur. He is best recognized as one of the co-founders of MTV: Music Television and served as the President and CEO of MTV Networks from 1987 to 2004.

Wondering how wealthy Tom Freston is by mid-2017? Trusted sources estimate his net worth to be around $300 million, amassed through his successful career as an executive and entrepreneur since 1979. Besides his role as CEO and President of MTV, Freston has engaged in numerous other business ventures, which have consistently contributed to his wealth.

Tom Freston Net Worth $300 Million

Raised in Connecticut, Freston graduated from Saint Michael’s College with a Bachelor of Arts and later pursued an MBA from New York University. His professional journey commenced in 1971 as an advertiser for Benton & Bowles, followed by the launch of his textile and clothing business in South Asia in 1972.

Returning to the US in 1979, he joined the Warner-Amex Satellite Entertainment Company. Several years later, Freston played a pivotal role in the establishment of MTV and then served as the head of marketing before assuming the position of President and CEO of MTV Networks in 1987. The success of the newly-formed television franchise substantially augmented Freston’s net worth.

Under his leadership, MTV introduced several other networks including Nickelodeon, VH1, Comedy Central, Spike, Country Music Channel, and more. He was instrumental in nurturing the station and fostering the creation of iconic characters and shows such as “Beavis and Butt-head,” “SpongeBob SquarePants,” “South Park,” “The Daily Show with Jon Stewart,” and “Rugrats,” among others.

In 2004, Freston left his position to join Viacom after their President & COO, Mel Karmazin, stepped down. However, in 2006, Chairman Sumner Redstone terminated his contract—reportedly due to Freston’s failure to acquire the prominent social network, MySpace, which was then sold to Rupert Murdoch’s News Corporation. Notably, MySpace’s stock price plummeted after the emergence of Facebook, and Murdoch’s company had to sell it for a mere $35 million.

Currently, Freston holds several roles, including being the principal of the consulting and Investment Company called Firefly3 LLC. He also serves as an advisor to the boutique merchant bank named the Raine Group, and the Vice Media and the Moby Group. He has recently ventured into movie production and has been involved in the production of films such as Barry Levinson’s comedy “Rock the Kasbah” (2015) featuring Bill Murray, Leem Lubany, and Zooey Deschanel.

In his personal life, Freston was married to Margaret Ellen Badali from 1980 until the late ‘90s and has two children with her. He then married Kathy Freston in 1998, and their marriage lasted until 2014.