AMC Entertainment has been in the news after the stunning performance of Top Gun: Maverick at the box office. However, AMC stock continues to languish at a fraction of its 2021 highs that it hit during the meme stock mania. The fall in AMC's stock price has impacted not only AMC institutional and retail investors, but also insiders like CEO Adam Aron.
CEO AMC Entertainment
Net worth: $50 million
Adam Aron is the charismatic CEO of AMC Entertainment. He's credited with helping AMC fend off what looked like an imminent bankruptcy in 2020. He joined the company in 2016 and has been its CEO since. Aron has struck the right chord with AMC's retail investor base who proudly call themselves "apes."
Birthdate: September 30, 1954
Birthplace: Philadelphia, Pa.
Education: MBA from the Harvard Business School
Spouse: Abbe Kahn (m. 1987)
Aron has been popular among the meme stock trading community. He has praised retail investors multiple times on the earnings call and also said that the company is majority-owned by retail investors, a partially correct claim. What’s Aron’s net worth and did he benefit from the meme stock rally in AMC stock?
Adam Aron is 67 years old.
Aron was born Adam Maximilian Aron on September 30, 1954, in a Jewish family. He earned a bachelor’s degree and graduated cum laude from Harvard College. He also has an MBA with distinction from the Harvard Business School.
Adam Aron joined AMC in 2016.
Adam Aron joined AMC in 2016. Before joining the company, he was the chairman and CEO of World Leisure Partners, a consultancy that he founded. He served as the chairman and CEO of Vail Resorts between 1996 and 2006. He was also the President and CEO of Norwegian Cruise Line between 1993 and 1996. He served as the Senior Operating Partner of Apollo Management between 2006 to 2015.
When Aron joined AMC, he already had 20 years of experience as a CEO. He is a co-owner of the Philadelphia 76ers and also served as the franchise’s CEO between 2011 and 2013.
Adam Aron holds AMC shares.
Aron holds 793,974 shares of AMC and has over 2.1 million shares, which are granted but unvested. This would take his interest in the company to around 2.9 million shares. The value of Aron’s AMC holing spiked in 2021 amid the meme stock rally.
He began selling AMC shares in November 2021 in what he called “estate planning.” In multiple tranches, he sold over $40 million worth of his shares. Aron hasn’t sold any AMC shares since he joined the company apart from transferring 500,000 shares to his adult children.
Adam Aron’s compensation at AMC.
Aron earned a total compensation of around $19 million in 2021, which was slightly below the $20.93 million that he received in 2020. His total compensation in these two years surpassed the compensation in the previous four years.
Adam Aron has a healthy net worth.
The value of Aron’s AMC holdings is around $11.4 million. If we add the unvested shares, his total interest in AMC is around $41.6 million. In addition, he holds other investments including the cash that he received from selling AMC shares over the last year. He also holds around $300,000 worth of Norwegian Cruise stock.
While we don’t have the exact number for Aron’s net worth, it's over $50 million. The amount doesn't include the unvested AMC shares, which would add to his net worth.