Greg Glassman net worth: Greg Glassman is an American businessman and entrepreneur who has a net worth of $100 million. Greg Glassman is greatest identified for being the co-founder of CrossMatch, Inc. Today Glassman owns 100% the model after shopping for out his co-founder, his ex-wife Lauren Jenai. Crossfit earns roughly $50 million per 12 months in health club licensing charges alone and $100 million complete from all earnings sources (Reebok sponsorship, tv licensing charges and merchandise). Glassman resigned as CEO in June 2020 within the wake of an insensitive assertion he made on Twitter associated to the demise of George Floyd.
He and ex-wife Lauren Jenai co-founded the health firm in 2000. They conceived of the branded health routine, initially known as “Cross-fit”, in 1996. The components of CrossMatch contain 9 basic actions woven collectively right into a exercise of the day (WOD). After divorcing, Glassman purchased Jenai’s share of the corporate for $16 million, utilizing a mortgage from Summit Partners.
He began out his health profession working as a gymnastics coach at a Y.W.C.A. in California at 18 years outdated. Glassman would go on to coach celebrities and athletes in Southern California. He labored with cops and realized that present exercise packages have been missing. In 1995 he was employed to coach the Police Department in Santa Cruz, CA. A 12 months later Glassman opened up the primary CrossMatch health club in Santa Cruz. In 2001 he launched crossfit.com and in 2003 the CrossMatch affiliation program started.
As of 2009 there have been greater than 1,000 CrossMatch associates internationally. Fast ahead a decade and there have been 15,000 Crossfit gyms world wide, every paying an annual charge to hold the “Crossfit” identify. Crossfit health club trainers are additionally required to pay to certify trainers.
Controversy: In June 2020 Greg made what many individuals interpreted as a racist comment over Twitter associated to the homicide of George Floyd and racial injustice. In response to the tweet, Reebok ended its 10-year contract with Crossfit that made the attire model the elusive licensee of Crossfit merchandise. Furthermore, plenty of the sports activities most-famous athletes strongly rebuked Glassman. Several present athletes introduced that they might not carry out on the 2020 Crossfit Games. Rogue Fitness, which provides power coaching gear for the Crossfit Games, introduced it could be eradicating the Crossfit brand from its merchandise on the 2020 occasion. Many gyms across the nation introduced they might stop being “Crossfit” affiliated.
In response to the outcry, Glassman launched a press release which learn: “I, CrossFit HQ, and the CrossFit community will not stand for racism. I made a mistake by the words I chose yesterday. My heart is deeply saddened by the pain it has caused. It was a mistake, not racist but a mistake.“
Glassman resigned as CEO of Crossfit on June 10, 2020.