The sudden drop in F45 stock price on the New York Stock Exchange left many shareholders shocked, as the Australian fitness empire by Adam Gilchrist struggled to stay afloat, know his net worth in 2023
Despite the company’s challenges, co-founder Adam Gilchrist’s lavish lifestyle has been revealed, here is all you need to know.
Who is Adam Gilchrist founder of F45, his net worth in 2023, wife, house and news
The estimated net worth of Adam Gilchrist is $380 Million dollars as of 2023. Adam Gilchrist is the CEO & President, 10% Owner of F45 Training Holdings Inc and owns about 23,088,986 shares of F45 Training Holdings Inc (FXLV) stock worth $40 Million.
Eli Gilchrist is his wife.
Adam Gilchrist and Rob Deutsch started F45 in 2013. He recently quit his positions as CEO and chairman of the board of directors. In the same statement, the company said it would let go of 110 employees and cut operational costs.
Meet Adam Gilchrist
'CEO of F45 Training'World's Richest Cricketer๐ญ๐ญ#CricketTwitter pic.twitter.com/VWcti42alX
— Gautam (@IndiaTweetrian) March 14, 2023
When F45 was listed on the New York stock exchange in July 2021, Gilchrist’s wealth rose and put him on the Rich List of the Australian Financial Review as he made $500 million overnight.
Prior to the gym franchiseโs debut on the NYSE, pre-IPO filings indicated Gilchrist and his co-founder both earned US$45 million when Mark Wahlbergโs investment vehicle bought into F45 circa 2019 and Gilchrist had an estimated net worth exceeding $600 million, according to the AFR back in 2021.
Inside Adam Gilchrist’s multi-million dollar property portfolio in Australia
Adam Gilchrist’s huge property portfolio in Australia, which he bought with his money, has been in the news for years. In 2018, he offered his neighbour $14 million to settle a small dispute. This was a big deal. In 2017, the co-founder of F45 and his wife bought a three-bedroom cottage on Ocean View Rd for $5.4 million.
Writer probably mixed up the cricketer and the guy below, also an Aussie named Adam Gilchrist and runs f45 a fitness company worth $500M. pic.twitter.com/h1eZRkVtKQ
— I.R.๐ (@laajardni) March 14, 2023
However, when they tried to build on the property, they had trouble with their neighbours. Several neighbours didn’t like the plans for the $2.5 million development because they said it didn’t follow rules about building height or property lines.
Adam Gilchrist said he would have won the case in court, but instead he paid a whopping $14 million for his neighbor’s much bigger house. This sale broke the old record for the suburb, which had been $800,000 in 2003.
Adam Gilchrist’s extravagant $18.8 million beach house in Byron Bay
One of Gilchrist’s most expensive purchases was a big beach house in Byron Bay, which he bought for $18.8 million in March 2019. Also the colonial-style home has views of the beach, a swimming pool, a big kitchen, and an open living area.
Adam Gilchrist, the former CEO of F45, or as the Australian media calls him, "Adam Gilchrist (not the cricketer)". pic.twitter.com/Dk1BPPbg8m
— Rick Eyre on cricket (@rickeyrecricket) March 15, 2023
But while Adam Gilchrist was living the high life, F45’s co-founder Rob Deutsch says he could never have imagined the company’s sudden downfall. Deutsch, who sold his shares and quit as CEO in 2020, was shocked by what had been going on at the company recently.
Rob Deutsch expresses shock and disappointment
In an Instagram post, Deutsch wrote, “When I exited, and sold out of F45, I left a healthy, phenomenal, beast of a business. All the way from the company culture to the heartbeat of the business…The workouts. F45 was special.” He added, “I genuinely hope all of the 110 laid-off staff find happiness and opportunities elsewhere.”
F45 founder Adam Gilchrist ni cricketer Gilchrist tho confuse ayyaru veellu https://t.co/e8dPNea2Qe pic.twitter.com/MXS3ZwOepl
— Raghava (@belongs2raghu) March 14, 2023
Deutsch’s post got a lot of responses from F45 franchisees and regular gym-goers, which helped him figure out what might have caused the company to fail. A Hawaiian F45 coach said that the decision to go public was a mistake, and an F45 franchise in Canada said that decisions made during Covid lockdowns were “crushing.”
Even with all the trouble, F45’s share price has gone up a little to $US1.79 ($A2.56), which gives investors hope that things will get better.
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