Bloomberg: "Sierra Nevada Founder Grossman Becomes Billionaire on Pale Ales"

Discussion in 'Beer News' started by Todd, Jan 20, 2015.

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  1. Todd

    Todd Founder (13,254) Aug 23, 1996 Finland
    Staff Super Mod Pooh-Bah Society Trader

    http://www.bloomberg.com/news/2015-...rossman-becomes-billionaire-on-pale-ales.html
     
  2. Fly_Moe

    Fly_Moe Initiate (0) May 22, 2012 Florida

    Good for him. Just goes to show that if you have a passion for something and stick with it, everything works out in the end. I like Sierra Nevada's beers as well. When I go to a regular bar (not craft bar), most have some type of Sierra Nevada on draft or in bottle. I end up usually getting that. I always forget that Sierra Nevada makes good solid beers.
     
  3. leantom

    leantom Initiate (0) Nov 20, 2011 Indiana

    He named his daughter "Sierra"?

    I wonder how he came up with that name.
     
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  4. PBoegel

    PBoegel Initiate (0) Oct 18, 2005 New York

    I am not trying to say that Ken Grossman does not do well for himself. But before we begin printing money for him, valuations are tricky little worlds. Basically the company is valued at a Billion, in the event he needed to sell it today he has a strong case for selling it at that price or above.

    In any event I will drink a Sierra 2010 Bigfoot to celebrate tonight. Because that a company which makes such damn good beer could reach this arena of success in their business, well, cheers to that.
     
  5. hopfenunmaltz

    hopfenunmaltz Pooh-Bah (2,611) Jun 8, 2005 Michigan
    Pooh-Bah Society

    It looks like he puts most of the profits back into the business. He is the sole owner.

    His daughter is 37, the brewery is approaching 35. As a young man he loved climbing in the high Sierra, hence the names. There are pictures of him in vintage climbing gear from back in the day.

    Here you go. Ropes
     
  6. SteveB24

    SteveB24 Initiate (0) Aug 29, 2013 New York

    i like to refer to SN as the "Breaking Bad" of beer, in the sense that if you take BOTH commercial and critical success into consideration, it is arguably the met successful brewery around.
     
  7. SteveB24

    SteveB24 Initiate (0) Aug 29, 2013 New York

    But thats always the how net worth of individuals is evaluated, the amount of money someone has in the back is not public info, the only way to attempt to determine one's worth is by the net value of their assets.
     
  8. PBoegel

    PBoegel Initiate (0) Oct 18, 2005 New York

    I understand that, but it is a generalized half truth of economics. He is not a billionaire, his company has the valuation to make him one if he so chooses. It is semantics, but the semantics are important, because people who do not understand economics often wonder, well his or her net worth is X why don't they just give x y and z away. Nothing is ever that simple.

    Basically, he is a billionaire in waiting.
     
  9. SteveB24

    SteveB24 Initiate (0) Aug 29, 2013 New York

    aren't we all?:slight_smile:
     
  10. BillManley

    BillManley Pundit (825) Jul 2, 2008 North Carolina

    Articles like this are funny to me. Sure, Sierra Nevada has been successful, sure, we've been in this for a long time, but even so, those valuations seem pretty darn high.
    Ken often talks about the early days, when no bank in their right mind would give him a loan. He had to scrape together cash from family and friends to even get started, money was never a realistic reason to get into the beer game.

    If for some (terrible) reason, the Grossman family decided to up-and-sell the brewery, it might garner a significant price, but as it stands now, Ken will pass the brewery on to his family and continue to re-invest in the beer.

    The Grossmans are among the most humble and down-to-earth people I have ever met and I'm happy they've built such an amazing brewery and brand, and lucky to be employed by them.

    -Bill
     
  11. Ranbot

    Ranbot Pooh-Bah (2,389) Nov 27, 2006 Pennsylvania
    Pooh-Bah Society

    Just because Yuengling was mentioned by the article, I thought I'd add that Dick Yuengling is also a very humble beer billionaire. The story I've heard is that he saw the brewery [and family] barely survive some dark years on the brink of bankrupcy, so to this day he doesn't live extravagantly despite his fortune. For example, last I heard he was still driving to work every morning in his early 90's model Honda Accord! Dick Yuengling also quietly supports many local organizations and charities near Pottsville. That's not intended to take anything away from Mr. Grossman at all, you just reminded me of it.
     
  12. pat61

    pat61 Initiate (0) Dec 29, 2010 Minnesota

    Good for Ken! I think writers to sell newspapers tend to rely on hyperbole. A billion sells a lot more newspapers than a million.
     
  13. Mebuzzard

    Mebuzzard Grand Pooh-Bah (4,216) May 19, 2005 Colorado
    Pooh-Bah Society Trader

    Did she sue for TM infringement? :stuck_out_tongue:
     
  14. BBThunderbolt

    BBThunderbolt Grand High Pooh-Bah (7,282) Sep 24, 2007 Kiribati
    Pooh-Bah Society Trader

    I wonder if he could help a brother out the rent this month? It's my slow time of the year. :wink:
     
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  15. BBThunderbolt

    BBThunderbolt Grand High Pooh-Bah (7,282) Sep 24, 2007 Kiribati
    Pooh-Bah Society Trader

    I have a co-worker named Sierra, I wonder.....
     
  16. cello

    cello Initiate (0) Oct 17, 2013 Pennsylvania

    Congratulations to Sierra Nevada!
     
  17. rronin

    rronin Initiate (0) Jul 4, 2005 Washington

    Since his daughter is 37 and the brewery is 34, we know which came first.
     
  18. NeroFiddled

    NeroFiddled Grand High Pooh-Bah (7,122) Jul 8, 2002 Pennsylvania
    Pooh-Bah Society Trader

    This brings up a thought for me, based on Jim Koch's recent tirade... I've always felt that Sierra Nevada was actual pure-roots brewing going back to the ashes of New Albion in like, what 1978? I could be wrong. And maybe I'm totally off. But somehow Sierra Nevada has always seemed totally pure and natural to me, whereas Samuel Adams has always felt marketing driven. Am I wrong? Does anyone share my mind set on this?
     
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  19. rronin

    rronin Initiate (0) Jul 4, 2005 Washington

    Who really gives a rats ass if he's a billionaire or a nine hundred millionaire? We can all agree that he's a great success story in the classic American manner, and best of all, he made it by doing what he loves and making a lot of people happy.
     
  20. 1eyed_jack

    1eyed_jack Initiate (0) Dec 19, 2012 Illinois


    From reading your posts and seeing how helpful you are on here, as well as polite, I'd say they are pretty lucky to have you as well!
     
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