Carter Reum, an entrepreneur, venture capitalist, and author, has carved out a name for himself as a savvy businessman and investor. Known for his strategic investments and innovative ventures, Reum has built a substantial fortune over the years. As of 2024, Carter Reum net worth is estimated to be between $20 million and $40 million. This article explores how he accumulated his wealth, his career milestones, and his influence in the entrepreneurial ecosystem.
Early Life and Education
Carter Reum was born on February 5, 1981, in Wayne, Illinois. He grew up in a family that valued hard work and entrepreneurship. His father, Robert Reum, was the CEO of Amsted Industries, a company listed among Forbes’ largest private companies in the U.S. This early exposure to business likely influenced Carter’s career path.
Reum attended Columbia University, where he graduated in 2003 with a degree in economics. During his time at Columbia, he developed a keen interest in finance and entrepreneurship, which would later shape his professional journey.
Career Beginnings: Goldman Sachs
After graduating from Columbia, Carter Reum began his career at Goldman Sachs as an investment banker. Working at one of the most prestigious financial institutions in the world gave him invaluable experience in corporate finance and investment strategies. However, despite the stability and prestige of his role at Goldman Sachs, Reum had entrepreneurial ambitions that he was eager to pursue.
Building Wealth Through VEEV Spirits
Founding VEEV Spirits
In 2007, Carter Reum co-founded VEEV Spirits with his brother Courtney Reum. The company introduced an innovative product: an açaí-infused vodka that stood out in the competitive spirits market. What made VEEV unique was its focus on sustainability—it was the first carbon-neutral spirits company in the United States.
Success of VEEV Spirits
VEEV Spirits quickly gained popularity due to its eco-friendly approach and high-quality product. The company’s success was not just limited to sales; it also earned recognition for its commitment to environmental responsibility. In 2016, the brothers sold a majority stake in VEEV Spirits to Luxco for an undisclosed but substantial amount, marking a significant milestone in Carter Reum’s financial journey.
M13 Ventures: Expanding His Wealth
Founding M13
After selling VEEV Spirits, Carter and Courtney Reum founded M13 Ventures in 2016. M13 is a venture capital firm that focuses on early-stage investments in consumer brands and technology companies. The firm is named after Messier 13 (M13), a bright cluster of stars—a metaphor for their vision of building a constellation of successful companies.
Notable Investments
M13 has invested in some of the most successful companies of the past decade, including:
- Lyft (ride-sharing)
- Pinterest (social media)
- Snapchat (multimedia messaging)
- SpaceX (aerospace)
These investments have significantly contributed to Carter Reum’s net worth. M13 has grown into one of the top-performing venture capital firms globally, ranked as the 14th best-performing VC firm in 2023.
Focus on Consumer Brands
What sets M13 apart is its focus on consumer brands that intersect with technology. The firm has helped scale businesses that resonate with modern consumers by leveraging data-driven insights and operational expertise. This approach has not only made M13 successful but has also solidified Carter’s reputation as an innovative investor.
Other Sources of Income
Carter Reum’s wealth is not solely tied to his ventures with VEEV Spirits and M13. He has diversified his income streams through various other avenues:
Author
In 2018, Carter and Courtney co-authored “Shortcut Your Startup: Speed Up Success with Unconventional Advice from the Trenches.” The book provides practical advice for entrepreneurs based on their own experiences. It became a popular resource for aspiring business owners looking to navigate the challenges of launching and scaling startups.
Media Appearances
Carter has appeared as a guest on television shows like “Hatched,” where he shares insights on entrepreneurship. He has also contributed articles to publications such as Huffington Post and Inc., further establishing himself as an authority in business.
Real Estate
Carter owns multiple properties in high-end locations like Los Angeles and Malibu. These properties not only serve as residences but also represent significant investments that contribute to his overall wealth.
Personal Life and Its Impact on His Public Profile
Carter Reum’s marriage to Paris Hilton in November 2021 brought him into the global spotlight. Paris Hilton is an internationally recognized businesswoman, DJ, model, and socialite with her own substantial fortune. Their union has amplified public interest in Carter’s life and career.
In January 2023, the couple welcomed their first child via surrogacy—a son named Phoenix Barron Hilton Reum. The couple’s shared wealth allows them to live a luxurious lifestyle while also engaging in philanthropic activities.
While Carter had already achieved significant success before marrying Paris Hilton, their relationship has undoubtedly elevated his public profile. Together, they represent a power couple whose combined influence spans business, entertainment, fashion, and philanthropy.
Estimated Net Worth: Breaking Down the Numbers
As of 2024, Carter Reum net worth is estimated to be between $20 million and $40 million. Here’s how his wealth breaks down:
- VEEV Spirits Sale: A significant portion of his wealth comes from selling a majority stake in VEEV Spirits.
- M13 Ventures: His investments through M13 have yielded substantial returns.
- Book Sales: Revenue from “Shortcut Your Startup” adds to his income.
- Media Appearances: Television appearances and writing contributions provide additional revenue.
- Real Estate Investments: High-value properties contribute significantly to his net worth.
FAQs
1. What is Carter Reum’s primary source of income?
Carter Reum’s primary source of income is derived from his venture capital firm M13 Ventures. The firm invests in early-stage companies like Lyft, Pinterest, Snapchat, and SpaceX, which have delivered significant returns over time.
2. How much did Carter Reum make from selling VEEV Spirits?
While the exact amount remains undisclosed, industry experts estimate that selling a majority stake in VEEV Spirits to Luxco significantly boosted Carter Reum’s net worth by several million dollars.
3. Is Carter Reum richer than Paris Hilton?
No, Paris Hilton has an estimated net worth of over $300 million as of 2024 due to her vast business empire spanning fashion lines, fragrances, real estate investments, and entertainment projects. While Carter is wealthy in his own right with an estimated net worth of $20-$40 million, Paris’s fortune far exceeds his.
4. What companies has M13 Ventures invested in?
M13 Ventures has invested in numerous high-profile companies such as:
- Lyft
- Snapchat
- SpaceX
These investments have been instrumental in growing Carter Reum’s wealth.
5. Does Carter Reum have any philanthropic initiatives?
Yes! Both Carter and Paris Hilton are involved in various charitable activities. While specific details about Carter’s personal philanthropy are less publicized than Paris’s efforts, their combined resources often support causes related to children’s welfare and environmental sustainability.
Conclusion
Carter Reum’s net worth reflects years of hard work, strategic investments, and entrepreneurial success. From co-founding VEEV Spirits to establishing M13 Ventures as a leading venture capital firm, he has consistently demonstrated business acumen and innovation.
While his marriage to Paris Hilton brought him into the limelight for many outside the business world, it is clear that Carter’s achievements stand on their own merit. With continued success through M13 Ventures and other ventures on the horizon, Carter Reum’s net worth is likely to grow even further in the coming years.
By leveraging both traditional business principles and modern innovation strategies, Carter serves as an inspiration for aspiring entrepreneurs looking to make their mark on the world stage—proving that success is built through vision, persistence, and adaptability!
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