Timothy M. Armstrong was born on the 21st December 1971, in Riverside, Connecticut, USA. He is a business executive, currently serving in the positions of Chairman and CEO of the global mass media corporation AOL, otherwise known as America Online. Tim Armstrong has been working in the mass media industry since 1993.
How much is the net worth of Tim Armstrong? It has been reported by authoritative sources that the total size of his wealth is as much as $400 million, as of the data presented in mid-2016. His annual salary is $6.48 million.
Tim Armstrong (AOL CEO) Net Worth $400 Million
To begin with, he graduated from Connecticut College with a double major in Sociology and Economics. Moreover, he was also a student of Lawrence Academy. He was a trustee of both above mentioned educational institutions.
After graduation he taught high school students at Wellesley College, and worked for a mutual fund organization, yet he was not satisfied with the positions held. Encouraged by colleagues, Tim decided to pursue a career in the mass media industry. Armstrong with his friend Michael Dressler started their careers in the newspaper BIB, which they financed themselves, later quitting it for running Square Deal. Tim Armstrong foresaw the great potential of the emerging popularity of the Internet, and so also increased his net worth through advertising.
Then, Tim was appointed to the position of the Vice-President of Sales and Strategic Partnerships at Snowball Inc. Afterwards, he was invited to join Google, in which he served as a member of the operating committee, working in the positions of Vice President of Ad Sales, Senior Vice President of Google Inc. and President of Google’s Americas Operations. As Google ad received huge revenues, Tim Armstrong earned a good reputation, and in 2009 he was invited to stabilize the situation in AOL by Jeff Bewkes. In AOL, Armstrong has implemented significant changes in advertising, with state-of-the-art technology and digital journalism; Armstrong is one of the founders of the local news site Patch media, now owned by AOL. According to Armstrong, AOL has created seeds, journalism and engineering systems based on the concept that editors can decide. In 2010, Armstrong controlled the purchase of the AOL platform including news website Tech Crunch technology, gravity, Adapt.tv number and Millennial Media.
In the middle of 2015, AOL was acquired by Verizon Communications for $4.4 billion, yet Armstrong remained in his position as CEO.
It is worth mentioning that Armstrong is a member of a number of director boards including the Advertising Research Foundation, the Interactive Advertising Bureau (IAB), The Priceline Group, Inc. and others. Moreover, he is the owner of the Boston Blazers team which plays in the National Lacrosse League as well as a founder of the United Football League. Tim Armstrong is the winner of the Life Achievement Award by the Corporate Social Responsibility Awards which he received in 2015.
Finally, in the personal life of Tim Armstrong, he is married to the producer and director of MAKERS, Nancy Armstrong. They do not have children and keep their life together very private.
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