Mike Lazaridis' net worth today: How rich is Blackberry's co-founder?
Mike Lazaridis is a Canadian businessman widely recognized as the co-founder of BlackBerry, which manufactured the BlackBerry wireless handheld devices. In 1999, he received an Academy Award for his contribution to creating a high-speed barcode reader used in film editing. With such achievements, many are curious about how much the entrepreneur has amassed from his career in the tech industry. So, what is Mike Lazaridis' net worth?
Source: UGC
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Lazaridis dropped out of school to launch a software company, Research In Motion, alongside his two friends. In 1984, with a small government grant and a loan from Mike’s parents, the trio built the company that would place them on the global map years later. But in the end, did Lazaridis’ sacrifices pay off? Discover his career achievements and earnings.
Mike Lazaridis' profile summary
| Full name | Mihal Lazaridis |
| Famous as | Mike Lazaridis |
| Gender | Male |
| Date of birth | 14 March 1961 |
| Age | 63 years old (2024) |
| Zodiac sign | Pisces |
| Birthplace | Istanbul, Turkey |
| Nationality | Canadian |
| Ethnicity | Mixed |
| Religion | Christianity |
| Alma mater | University of Waterloo |
| Hair colour | Grey |
| Eye colour | Blue |
| Sexuality | Straight |
| Marital status | Married |
| Spouse | Ophelia Lazaridis |
| Children | 2 (Cleo and Kern) |
| Parents | Nick and Dorothy Lazaridis |
| Profession | Entrepreneur |
| Net worth | $600 million |
How old is Mike Lazaridis?
Mike Lazaridis (aged 63 as of 2024) was born on 14 March 1961 in Istanbul, Turkey. His parents, Dorothy and Nick Lazaridis, are of Pontic Greek descent with original lineage to the island of Chios. Mihal’s family relocated to Windsor, Ontario, Canada, in 1966 when he was five.
Source: Original
In 1979, he enrolled at the University of Waterloo to study electrical engineering with an option in computer science. However, two months shy of graduating, Mike left school to focus on a contract he had inked with General Motors to develop a network control display system.
What is Mike Lazaridis’ net worth in 2024?
Invest Records estimates Mihal’s net worth to be $600 million. He accumulated a chunk of his wealth as the co-founder of BlackBerry.
At the pinnacle of the company’s success in 2011, Lazaridis ranked among Canada’s wealthiest individuals, with an estimated net worth of CA$2.9 billion (equivalent to $4 billion in 2023).
How did Mike Lazaridis get rich?
At 23, the Istanbul native made his career debut, a move that would change his life forever. Below is a breakdown of how Mike made his millions:
Research In Motion (RIM)
RIM was founded in March 1984 by Mihal and his friends Mike Barnstijn and Douglas Fregin. The company became North America’s first wireless data technology developer four years later.
In 1995, RIM received C$5,000,000 from Canadian institutional and venture capital investors to finance the completion of the two-paging software and hardware systems. According to Media Referee, the company’s first BlackBerry hit the market in 1999.
It was a wireless device with internet, messaging and email capabilities. The handheld gadget gained vast popularity among companies and professionals due to its effective and secure features.
Source: UGC
By September 2011, BlackBerry has 85 million subscribers worldwide. During a 2010 interview with CNN Business, Lazaridis described the BlackBerry as the market’s only safe phone, saying:
We have spent the last decade building, designing, and refining the world’s most secure enterprise-based solution, which is why it has become number one worldwide. It is the only approved solution for many governments worldwide, and BlackBerry is the only one that has stood the test of certification. So, when you buy this device, rest assured that we meet international standards.
However, a few years later, the company lost its market dominance due to the success of the iOS and Android platforms. On 22 January 2012, Mike resigned as BlackBerry CEO.
How does Mike Lazaridis invest his money?
With a career spanning over three decades, Mihal has garnered substantial wealth. Here are the ways he generally puts his money to use:
Mike Lazaridis’ house
Per CrackBerry, the businessman and his wife bought a 51-hectare property on the Shore of Lake Huron, Ontario, Canada, in 2003. He allegedly paid $800,000 for the 26,000-square-foot mansion.
Mike Lazaridis’ yacht
The businessman owns an 80-metre Nobiskrug superyacht, Artefact. According to Luxurylaunches, it was built in 2020 at an estimated price of $150 million and was named Motor Yacht of the Year in 2021. The 262-footer features a hybrid diesel-electric propulsion system.
Source: UGC
Philanthropy
Mihal engages in various charitable endeavours to give back to society. As documented by Celebrity Net Worth, he founded and donated over $170 million to the Perimeter Institute for Theoretical Physics in 2000.
Two years later, Lazaridis donated over $100 million to the University of Waterloo’s Institute for Quantum Computing. In 2015, he made a $20 million donation to Wilfrid Laurier University to improve the school’s technological systems.
What does Mike Lazaridis do now?
Mike is the founder and board chair of the Perimeter Institute for Theoretical Physics. He also founded the Institute for Quantum Computing, where he serves as Chair of the Board, and the Quantum-Nano Centre, both at the University of Waterloo.
Mike Lazaridis’ net worth is a testament to his hard work and determination. As a BlackBerry co-founder, he accumulated wealth during the company’s success. Unfortunately, his profits were considerably affected when Apple's iPhone hit the market.
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Source: Briefly News
