Craig Jackson Net Worth

What is Craig Jackson's net worth?

Craig Jackson is an American entrepreneur who has a net worth of $300 million. Craig Jackson earned fame and fortune as the owner of Barret-Jackson Collector Car Auction. To date, Barrett-Jackson has sold over $1.5 billion worth of cars. More than 200,000 people attend the company's auctions annually. In an average year, the company's auctions generate $100 – $150 million in gross sales, with Barret-Jackson taking a small cut of each sale. The vast majority of sales occur at Barrett's flagship annual auction in Scottsdale. That one auction alone can generate $100 million over several days.

Barrett-Jackson pioneered the "no reserve" auction format and became internationally famous by broadcasting its auctions to more than 200 countries, with millions of viewers tuning in. Barrett-Jackson also owns the online car auction venture Car Collector Network, which owns AutoHunter.com and ClassicCars.com.

Early Life

Craig Jackson was born in Arizona in 1959. His father, Russell Jackson, was born and raised in Pontiac, Michigan. Russ attended the General Motors Institute in Flint and then became a car salesman. He was a Chief Mechanic in the Air Force during WWII, serving at bases around the country. He and wife Nellie married in 1940. Russ and Nellie eventually welcomed sons Brian and Craig.

From 1940 to 1960, the family lived in Michigan, where Russ and Nelli owned and operated a country store. Starting in the 1950s, they vacationed several times a year (especially during cold Michigan winters) in Scottsdale, Arizona.

In 1960, Russ and Nellie moved the family to Scottsdale full-time. In Scottsdale, Russ opened a car wash and soon landed an exclusive contract with the city's police department. Nellie ran the books. Within a few years, they launched a company called Classic Carriage House, which bought, sold, and restored classic cars.

Barrett-Jackson

In 1963, Russ saw a classified ad in the local paper placed by a fellow car enthusiast named Tom Barrett. Barrett's ad offered a 1933 Cadillac V16 Town Car that had once been owned by actress Joan Crawford. Russ got in touch. Though they did not ultimately reach a deal on the Cadillac, a lifetime friendship was born, as were the seeds of a future business partnership.

In 1967, Russ and Tom launched the "Fiesta de los Autos Elegantes." The auction was created as a fundraiser for local charities and grew from there. In 1972, they began auctioning off cars. The first car they auctioned was Adolf Hitler's armored Mercedes-Benz 770K. The car sold for over $150,000. That's the same as around $1.2 million in today's dollars, which was considered an enormous sum for a vintage car in the early 70s. Over time, the auction and the business evolved into the current "Barret-Jackson Collector Car Auction."

Brian and Craig Jackson both began working for his father's company as kids. Russ Jackson died in 1993 at the age of 78 from colon cancer. Tom Barrett retired from the company soon after Russ' passing and happily allowed Brian and Craig Jackson to take over. Tragically, Brian Jackson died of colon cancer just two years later, in 1995, at the age of 49. From that point on, Craig Jackson became the solo Chairman and CEO in 1997.

Tom Barrett died in 2004 at the age of 75. That year, Barrett-Jackson generated nearly $40 million in gross sales.

Craig is known for his incredible attention to detail, his complete professionalism, and his excellent personal car collection. He has won numerous business awards and has appeared on Motor Trend's "Top 50 Power List" for the automotive industry two times.

Endeavor Acquisition

In August 2022, talent agency Endeavor (owner of the UFC and WWE) acquired 51% of Barrett-Jackson for $261 million. Endeavor paid $249 million in cash and 563,935 shares of endeavor. At that price, Barrett's overall value was $520 million.

Craig Jackson's Car Collection

Craig houses his impressive car collection in what has been referred to as one of the most expensive garages in the world. He spent two years and several million dollars constructing the garage. The crown jewel of the garage is a circular rotunda showroom that features up to 17 of his cars at any given time. The rotunda was modeled after the wheel of a 1967 Shelby Cobra. The walls are leather, and the floor is terrazzo-coated. The center of the showroom is a turntable that allows him to move cars wherever he needs easily. A custom heating and cooling system was built to protect his cars from scorching hot Scottsdale days and cold nights. He owns dozens of cars, mostly of the muscle-car variety. He owns a dozen Shelby Cobras alone. In addition to his circular rotunda, he also has a separate "man cave" private showroom, which also features the history of Barret-Jackson and a car shop where he maintains and stores additional cars.

When Craig was 17, his dad bought him a Corvette. The very first car Craig ever bought himself was a 1966 Pontiac LeMans, which he still owns to this day. Some notable cars in his collection include:

• 1970 Hemicuda convertible (one of only 14 made)
• 1988 Porsche factory slope nose (his dream car as a kid)
• 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 gave a private tour of his garage to Business Insider:

Arizona Mansion

In April 2006, Craig paid $6 million for a 12,255-square-foot mansion in Paradise Valley, Arizona. The mansion, which is set on over six acres, was built in 1991 and features Craig's aforementioned custom garage. Today, this property is worth $10-15 million based on similar comparable sales, though the custom garage does make comps difficult to find.