Introduction
Lorne Abony is a Canadian entrepreneur and businessman who has made a name for himself in the business world. He co-founded and led several successful companies, creating a vast fortune for himself in the process. As of 2021, his net worth is estimated to be around $100 million. In this blog post, we will take a deep dive into his wealth to uncover how he accumulated it and the businesses he founded that contributed to his enormous net worth.
Early Life and Career
Lorne Abony was born in Montreal, Quebec, in 1970. He attended McGill University, where he earned a degree in philosophy. Abony’s first job out of college was at Ernst and Young, where he worked as a management consultant. He later worked as the Vice President of Business Development at a Canadian tech company called MediSolution.
Formation of FUN Technologies
In 2003, Lorne Abony co-founded FUN Technologies, a company that developed and managed online games. He served as the CEO of the company until it was sold to Liberty Media for $484 million in 2007. Abony’s stake in the company earned him a significant portion of the sale price, adding to his net worth considerably.
Relay Ventures
In addition to his work with FUN Technologies, Lorne Abony co-founded Relay Ventures, a venture capital firm that invests in early-stage mobile technology startups. The firm has invested in several successful companies, including Chariot, which was later acquired by Ford.
CurrencyWorks
Lorne Abony is also the CEO of CurrencyWorks, a publicly-traded company that provides blockchain-based solutions for the entertainment industry. The company’s goal is to help artists and entertainers monetize their digital content more effectively.
Other Ventures
Lorne Abony has also been involved in several other ventures throughout his career. He co-founded a real estate development company called Vemoa Homes and a fertilizer company called UrCanada.
Philanthropy
Lorne Abony is a philanthropist who is actively involved in several charitable organizations. He is the founder of The Lorne Abony Family Foundation, which supports various causes, including education, healthcare, and poverty alleviation.
Controversy
In recent years, Lorne Abony has been involved in several controversies. In 2018, he resigned as the CEO of a company called FastForward Innovations after allegations of insider trading and conflicts of interest surfaced.
Conclusion
Lorne Abony’s entrepreneurial spirit and business acumen have allowed him to accumulate an impressive net worth. He has been involved in several successful ventures and has contributed to the growth of the tech industry in Canada. Despite some controversies, Abony remains a respected figure in the business world and continues to make an impact through his philanthropic work.
FAQs
Q: What is Lorne Abony’s net worth?
A: Lorne Abony’s net worth is estimated to be around $100 million.
Q: What is FUN Technologies?
A: FUN Technologies is a company that developed and managed online games. Lorne Abony co-founded the company in 2003 and served as its CEO until it was sold to Liberty Media in 2007.
Q: What is CurrencyWorks?
A: CurrencyWorks is a publicly-traded company that provides blockchain-based solutions for the entertainment industry. Lorne Abony is currently the CEO of the company.
Q: What is Relay Ventures?
A: Relay Ventures is a venture capital firm that invests in early-stage mobile technology startups. Lorne Abony co-founded the firm.
Q: What charitable causes does Lorne Abony support?
A: Lorne Abony’s charitable foundation supports various causes, including education, healthcare, and poverty alleviation.