What is Robert Stiller's net worth?
Robert Stiller is an American entrepreneur who has a net worth of $1.2 billion. Robert Stiller graduated from Parsons College and began his professional career in the 70s, selling E-Z Wider rolling papers for cigarettes. He sold his business in 1981 for just over $3 million. He used a portion of the sale to purchase a small coffee store in Vermont near where he vacationed each winter. He subsequently launched Green Mountain Coffee, shifting his focus from sales to manufacturing. Green Mountain grew rapidly, at one point partnering with ExxonMobil to become the exclusive coffee served in all ExxonMobil gas stations. The company continued to grow, largely due to the launch of their Keurig Coffee System which was acquired over several transactions. He retired as CEO in 2007. In December 2015 Keurig Green Mountain was acquired by JAB Holding Company for $13.9 billion.
Green Mountain Coffee
In 1971, Stiller moved to Vermont and bought a small coffee shop in Waitsfield. He quickly realized that there was a demand for high-quality coffee in the area, and he began roasting his own beans in the back of the shop. The coffee was a hit, and Stiller expanded his business by selling beans wholesale to other coffee shops and restaurants in the area.
In 1981, Stiller founded Green Mountain Coffee Roasters, which would eventually become one of the largest coffee companies in the world. The company initially focused on selling whole-bean coffee to local businesses, but Stiller saw an opportunity in the emerging market for single-serve coffee.
Keurig
Keurig (which means "excellence" in Dutch) was founded in 1992 by John Sylvan and a former college roommate. John was a lifelong tinkerer and problem solver who wanted to invent a machine that would solve the problem of office coffee machines being brewed, then dumped, then brewed and dumped again. His solution was a single-serve coffee machine that inserted a coffee "pod" into a machine and outputted a single cup of coffee.
In 1993, Green Mountain Coffee Roasters acquired a 35% stake in Keurig. Stiller recognized the potential of the technology and worked with Keurig to refine the system and bring it to market.
The Keurig single-serve system was a game-changer for the coffee industry, and Green Mountain Coffee Roasters became one of the fastest-growing companies in America.
John Sylvan was booted from the company after a clash with management in 1997. He sold his stake in Keurig for $50,000.
Green Mountain acquired a full ownership stake in Keurig in 2006 for $104 million.
Stiller served as CEO of the company from 1981 until 2007, and he remained on the board of directors until 2012.
In December 2015, Keurig Green Mountain was acquired by JAB Holding Company for $13.9 billion. The sale made Robert Stiller a billionaire.
Palm Beach Estate
In 2014 Robert paid $25 million for a 1.6 acre oceanfront estate in Palm Beach Florida. The estate features a 24,000 square foot mansion.
In April 2023 Robert sold his Palm Beach estate for $170 million. The sale set a record for the area.
Robert's immediate next door neighbor in Palm Beach from the time he moved in and at the time of his sale is Howard Stern. Howard and wife Beth Ostrosky bought their neighboring home a year before Stiller for $52 million. Stern's house is roughly twice the size of Stiller's both in terms of square footage and acreage.
