Adam Weitsman Net Worth 2023: Here’s How Much The American Entrepreneur Worth?

Adam Joel Weitsman a.k.a. Adam Weitsman is an American businessman who is the CEO and the owner of Upstate Shredding – Weitsman Recycling. The enterprise specializes in processing scrap metal and has its head office in Owego, New York.

Adam Weitsman was born in Owego, New York. He developed a hobby of art collecting early in life. This hobby was developed when his father and grandfather unearthed two early American stoneware bottles during an excavation project in their scrap yard in 1980. Adam Weitsman is a keen collector of 19th-century stoneware and owned 60 pieces by 1982.

Adam Weitsman’s Business Empire

Adam Weitsman completed his college education at the Owego Free Academy and majored in banking at the C.W. Post Campus of Long Island University in Brookville. In 1989 he landed a job in Manhattan art gallery, Hirschl & Adler Folk. In 1991 he started the American Folk Art Gallery in Greenwich Village. In 1995 he became vice president of Ben Weitsman & Son. It was a scrap processing company which was owned by his family. He eventually purchased the company from his father.

Tragedy struck Adam Weitsman in the early 1990s when his sister succumbed to cancer and he quit New York City to take care of the scrap metal business which was owned by his family. His interest in the processing side of scrap metal recycling ultimately led to the setting up of Upstate Shredding at the Tioga County Industrial Park in Owego in 1997. 

Adam Weitsman was convicted for check kiting in 2004. He was slapped with a $1 million fine and served 8 months in prison. In 2005 Adam Weitsman acquired Upstate Shredding’s sister concern, Ben Weitsman & Son, Inc. It was a scrapyard in Solvay, New York spread across a sprawling 11-acre and was owned by Peter Matlow.

Adam Weitsman went on an acquisition spree and between 2012 and 2016 a scrap yard in New Castle, Pennsylvania, a port facility in Albany, and Empire Recycling in Watertown, New York. The company was collectively known as Upstate Shredding – Weitsman Recycling in 2016.

Adam Weitsman was awarded the Platts Industry Leadership Award in 2016, AMM Scrap Company of the Year award for the second year in a row as well as the Scrap Company of the Year by American Metal Market in 2015 and 2016.

Adam Weitsman and his wife have also invested in real estate in Skaneateles, New York and in 2010 he bought the Krebs restaurant, which was founded in 1899. The Krebs restaurant was extensively refurbished and re-opened in the summer of 2014.

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The proceeds from the restaurant and personal funding went into the running of numerous local philanthropic efforts. The proceeds of the restaurant were donated to 16 regional nonprofit organizations. In 2018 Weitsman started with his Mexican restaurant, Elephant and the Dove project, and also a sushi bar in Owego. The restaurant started operation in 2019 and he also partnered with Rise N Shine restaurant owner, Danielle Mecuri, for a new Italian restaurant in East Syracuse.

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How Much is Adam Weitsman’s Net Worth?

As per reports, the net worth of Adam Weitsman is estimated to be in the hundreds of millions of dollars. His business is very successful and he has also wisely invested in a number of profitable ventures.

Adam Weitsman has also profited from investments in real estate, stocks, and bonds, venture capital funds, and private equity funds. He has also invested heavily in the stock market and always is in the lookout for new ventures. He also receives a sizable salary from his various businesses, which adds to his income. He also receives dividends from his investments, which further increase his wealth.

Adam Weitzman’s Net Worth in 2023 was $1.5 Billion and he also has a monthly income of $8 Million and an annual income of $100 Million

Adam Weitsman’s Family: Wife and Children

Adam Weitsman met his wife Kim Weitsman for the first time in the summer of 2000. Kim Weitsman who was working as a model later joined alongside Weitsman as an operations manager for Upstate Shredding. They married in June 2006 in Skaneateles and have three children.

Adam Weitsman’s Luxury Life: House, Cars, Private Jet and More

Adam Weitsman owns a fleet of cars and also a private jet. His fleet of cars includes the Ford Mustang Shelby GT500, Lamborghini Huracan, Rolls Royce Ghost, and Buggati Chiron Pur Sport. He also owns a Gulfstream turboprop aircraft.

Adam Weitsman has been in the news recently for buying a penthouse in Sunny Isles. The penthouse is located in the 57-story condominium tower, Jade Signature, and carries a hefty price tag of $23.5 million. Adam Weitsman is reported to have made the offer without physically seeing the penthouse and had seen it on Instagram.

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