Carter Reum is a name that has become synonymous with innovation, entrepreneurship, and success in the business world. As a seasoned entrepreneur and investor, Reum has built a diverse portfolio of successful ventures that have significantly contributed to his impressive net worth. Best known for co-founding the venture capital firm M13 and his earlier success with VEEV Spirits, Reum has positioned himself as a key figure in the startup ecosystem, investing in companies that drive consumer innovation and change. This article delves into Carter Reum’s journey, exploring the various avenues that have shaped his career, financial success, and influence in the business world. Along the way, we’ll uncover how Carter Reum’s net worth has grown, his strategies for wealth-building, and the projects that continue to propel him forward.
Early Life and Influences
Carter Reum was born in Wayne, Illinois, on February 5, 1981, into a family that valued education, hard work, and entrepreneurship. His father, Robert Reum, was the chairman and CEO of Amsted Industries, a large, diversified global manufacturer. He was growing up in such an environment exposed Reum to the business world from a young age, inspiring him to pursue a similar path. His father’s influence cannot be understated; Robert Reum was known for navigating complex industries and leading Amsted Industries to become a powerhouse in manufacturing, a lesson that deeply impacted Carter’s approach to business.
Reum attended Columbia University, where he graduated with a degree in Economics in 2003. His education and the values his family instilled gave him a solid foundation for his future endeavours. While at Columbia, Reum developed an interest in the intersection of business and innovation, which would later become the driving force behind many successful ventures.
The Launch of VEEV Spirits: A First Entrepreneurial Success
Shortly after graduating, Carter Reum began his career as an investment banker at Goldman Sachs. This role allowed him to gain a deep understanding of financial markets, but it wasn’t long before he realized his true passion lay in entrepreneurship. In 2007, Carter and his brother, Courtney Reum, co-founded VEEV Spirits, an eco-friendly alcoholic beverage company that sought to disrupt the traditional spirits market.
What set VEEV apart from other spirits was its unique use of the açaí berry, a superfood known for its antioxidant properties. At the time, health-conscious consumers were on the rise, and the Reum brothers saw an opportunity to offer a product that catered to this demographic. VEEV Spirits became a popular alternative to traditional liquors and stood out for its commitment to sustainability, becoming one of the first Certified B Corporations in the spirits industry.
The company’s success didn’t happen overnight, but through innovative marketing strategies and a clear vision, VEEV Spirits grew into a widely recognized brand. In 2016, after almost a decade of growth, the Reum brothers sold a majority stake in VEEV. This move significantly boosted Carter Reum’s net worth and marked a major milestone in his entrepreneurial career.
The Birth of M13: Venture Capital and Startup Investments
After selling VEEV Spirits, Carter Reum shifted his focus to investing, which would further increase his net worth and influence. In 2016, Carter and his brother co-founded M13, a venture capital firm that aims to support early-stage companies in various industries, including consumer goods, technology, health, and wellness. M13 quickly gained a reputation as a strategic partner for startups, offering financial backing, mentorship, and operational expertise.
M13’s portfolio is impressive, featuring investments in some of the most successful startups of the last decade. Companies like Lyft, Pinterest, Ring, and Daily Harvest benefited from M13’s investment and strategic support. What sets M13 apart from other venture capital firms is its holistic approach, offering entrepreneurs access to a vast network of industry connections and seasoned advice beyond just capital infusion. This focus on helping companies scale effectively has made M13 one of the most sought-after venture firms for innovative startups.
By investing in high-growth companies, Carter Reum has diversified his financial portfolio, significantly increasing his net worth. Today, M13 manages over $900 million in assets, and its continued success suggests that Reum’s wealth is likely to grow even further in the coming years.
Expanding Horizons: Media and Authorship
In addition to his work with M13, Carter Reum has explored various other business avenues, further boosting his visibility and wealth. In 2018, he co-authored a book with his brother titled “Shortcut Your Startup: Speed Up Success with Unconventional Advice from the Trenches.” The book provides practical insights for entrepreneurs based on the brothers’ personal experiences in the startup world. The book was well-received, with its actionable advice resonating with new and seasoned entrepreneurs alike.
Reum’s media presence extends beyond authorship. Over the years, he has appeared on television shows and podcasts, sharing his entrepreneurship, investing, and business strategy expertise. His marriage to media personality and businesswoman Paris Hilton in 2021 also contributed to his public profile, as the high-profile couple attracted widespread media attention. Despite the heightened media focus, Carter Reum remains primarily focused on his entrepreneurial ventures and investments, constantly looking for new opportunities to grow his wealth and impact.
Carter Reum Net Worth: A Snapshot of Wealth
As of 2024, Carter Reum’s net worth is estimated at around $40 million. This impressive fortune results from his diverse business ventures, particularly his successful exit from VEEV Spirits and ongoing work with M13. His involvement in high-growth startups has provided significant financial returns, solidifying his status as a savvy investor.
It’s important to note that Reum’s wealth is not just the product of financial investments but also his ability to spot trends, build companies that offer innovative solutions, and maintain a long-term vision for growth. His approach to business is deeply strategic, combining creativity with data-driven decision-making. Whether investing in early-stage startups or writing a best-selling book, Carter Reum’s diversified efforts have paid off, allowing him to build a substantial net worth that continues to grow.
Philanthropy and Giving Back
In addition to his financial success, Carter Reum is committed to philanthropy and social responsibility. He has been involved in various charitable endeavours, supporting causes related to education, sustainability, and economic empowerment. Carter and his brother have emphasized the importance of giving back, reflecting the values they learned from their father.
Reum’s philanthropic activities are not just about writing checks; he is actively involved in the causes he supports, often using his platform and resources to amplify the work of organizations that align with his values. This commitment to social impact is a core aspect of Reum’s identity as an entrepreneur and a human being.
FAQ
1. How did Carter Reum build his net worth?
Carter Reum built his net worth through entrepreneurship, primarily with VEEV Spirits, and venture capital investments with his firm M13. His involvement in high-growth startups like Lyft and Ring has contributed significantly to his wealth.
2. What is Carter Reum’s net worth in 2024?
As of 2024, Carter Reum’s net worth is estimated to be around $40 million, generated from his entrepreneurial ventures and strategic investments.
3. What companies have Carter Reum invested in through M13?
Carter Reum’s venture capital firm, M13, has invested in notable startups such as Lyft, Ring, Pinterest, and Daily Harvest. It focuses on early-stage companies in the consumer goods, tech, and wellness sectors.
Conclusion:
Carter Reum’s journey from a young entrepreneur to a successful venture capitalist and author is a testament to his business acumen and vision. His ability to innovate, invest strategically, and remain committed to his values has enabled him to build an impressive net worth of approximately $40 million.
Looking ahead, Reum is well-positioned to continue expanding his wealth and influence. His ongoing work with M13, combined with his passion for entrepreneurship and social impact, ensures that his legacy will continue to grow. As he continues to support and invest in new businesses, Carter Reum’s path to wealth and success is far from over.
