Craig Jackson Net Worth

Craig Jackson Net Worth: A Deep Dive into the Life of the Barrett-Jackson Auctioneer

What is Craig Jackson’s Net Worth?

Craig Jackson, the charismatic owner of the Barrett-Jackson Collector Car Auction, has amassed a considerable fortune. His net worth is estimated to be around $300 million, a testament to his business acumen and the enduring appeal of classic automobiles. Jackson’s wealth stems primarily from his ownership of the Barrett-Jackson Auction Company, which has become a global phenomenon in the collector car market. The company’s auctions have facilitated over $1.5 billion in car sales to date, with a significant portion of that revenue generated at their flagship events.

Barrett-Jackson’s auctions consistently attract a massive audience, with over 200,000 attendees annually. The company’s gross sales typically range from $100 to $150 million per year, with Barrett-Jackson taking a percentage of each sale. The company has expanded its presence through online platforms like Car Collector Network, including AutoHunter.com and ClassicCars.com, further solidifying its market dominance.

Early Life and Family

Craig Jackson’s journey began in 1959 in Arizona. His father, Russell Jackson, a WWII veteran, was a car salesman and later became involved in the family business. Russell and his wife, Nellie, started their entrepreneurial journey by owning and running a country store in Michigan. They would regularly visit Scottsdale, Arizona, during the harsh Michigan winters, which eventually led them to relocate the entire family.

In 1960, the Jacksons made Scottsdale their permanent home. Russell Jackson launched a car wash, securing an exclusive contract with the city’s police department. Nellie managed the finances, laying the groundwork for their future success. They then established Classic Carriage House, a business specializing in buying, selling, and restoring classic cars, setting the stage for the Barrett-Jackson legacy.

Barrett-Jackson

The genesis of Barrett-Jackson can be traced back to 1963 when Russell Jackson responded to a classified ad placed by car enthusiast Tom Barrett. The ad featured a 1933 Cadillac V16 Town Car once owned by actress Joan Crawford. Although a deal wasn’t reached, a lasting friendship was formed, which led to a business partnership.

In 1967, Russ and Tom organized the “Fiesta de los Autos Elegantes,” an auction event designed to support local charities. This initial venture evolved into an annual car auction. In 1972, they auctioned off cars for the first time, with one of the most memorable sales being Adolf Hitler’s armored Mercedes-Benz 770K, which fetched over $150,000—equivalent to around $1.2 million today. As the auction gained traction, it transformed into the internationally renowned “Barrett-Jackson Collector Car Auction.”

Craig and his brother, Brian, joined the family business as children. After Russell Jackson’s passing in 1993 from colon cancer, Tom Barrett retired, allowing Brian and Craig to take over. Sadly, Brian passed away two years later, in 1995, also from colon cancer. Craig Jackson then assumed the roles of Chairman and CEO in 1997. Tom Barrett died in 2004, the same year Barrett-Jackson generated nearly $40 million in gross sales. Craig Jackson’s dedication to the business, his eye for detail, and his passion for classic cars have been instrumental to Barrett-Jackson’s success.

Craig’s contributions to the automotive industry have been recognized with numerous business awards and appearances on the Motor Trend’s “Top 50 Power List.”

Endeavor Acquisition and Business Ventures

In August 2022, the entertainment and talent agency Endeavor, which owns the UFC and WWE, acquired a 51% stake in Barrett-Jackson for $261 million. This deal valued the entire company at $520 million, with Endeavor paying $249 million in cash and 563,935 shares of Endeavor stock. This acquisition marked a significant strategic move, integrating the collector car auction into a broader portfolio of entertainment and sports properties, and signaling Barrett-Jackson’s continued growth and influence.

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Craig Jackson’s Car Collection: A Gearhead’s Dream

Craig Jackson is renowned not only for his business acumen but also for his passion for collecting classic cars. His impressive collection is housed in a custom-built garage, often described as one of the most expensive in the world. The garage’s centerpiece is a circular rotunda showroom, which cost several million dollars to construct. The rotunda can display up to 17 cars and was inspired by the wheel of a 1967 Shelby Cobra.

The walls of the rotunda are adorned with leather, and the floor features a terrazzo coating. A turntable in the center makes it easy to move cars around. The garage incorporates a climate control system to protect the vehicles from Arizona’s extreme temperatures. Jackson’s car collection includes dozens of vehicles, primarily muscle cars, including a dozen Shelby Cobras. In addition to the rotunda, he has a separate “man cave” showroom, showcasing the history of Barrett-Jackson, along with a workshop for maintaining and storing additional cars.

His passion for cars began early; his father bought him a Corvette when he was 17. His first personal car was a 1966 Pontiac LeMans, which he still owns. Some of the notable vehicles in his collection include:

• 1970 Hemicuda convertible (one of only 14 made)
• 1988 Porsche factory slope nose (his childhood dream car)
• 1969 Camaro ZL1 Rally Sport (one of two)
• 1961 Chevy Impala custom coupe
• 1965 Shelby Mustang GT 350
• 1997 Dodge Viper
• Ferrari Daytona
• 1932 Ford custom Roadster
• A custom Bugatti

In 2018, Craig Jackson gave Business Insider a private tour of his garage, offering enthusiasts a glimpse into his world:

The Arizona Mansion

In April 2006, Craig Jackson purchased a 12,255-square-foot mansion in Paradise Valley, Arizona, for $6 million. Situated on over six acres, the mansion, built in 1991, features the custom garage that houses his extensive car collection. Comparable properties in the area today are valued at $10-15 million, although the inclusion of a custom garage makes precise valuation challenging.

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Conclusion

Craig Jackson’s journey from a car-loving youth to the head of a global auction empire is an inspiring tale of ambition, dedication, and a passion for automobiles. From the humble beginnings of his parents’ ventures to the meteoric rise of Barrett-Jackson, Jackson’s story reflects a relentless pursuit of excellence. His impressive net worth, luxury lifestyle, and extensive car collection are testaments to his success, solidifying his status as a major player in the automotive world and beyond.