Age, Biography and Wiki

Russell Solomon is an American entrepreneur and the founder of Tower Records. He was born on September 22, 1925 in San Francisco, California. He is the son of Russian immigrants, and his father was a tailor. At the age of 17, Solomon began working at his father's store, and eventually opened his own store in 1960. He named it Tower Records, and it quickly became a success. The store was known for its wide selection of music, and it eventually expanded to include stores in the United States, Europe, and Japan. In 2006, Solomon sold Tower Records to a private equity firm, and the company eventually filed for bankruptcy in 2006. Solomon is now retired, but he still serves as an advisor to the company. As of 2021, Russell Solomon's net worth is estimated to be roughly $50 million.

Popular As Russell Malcolm Solomon
Occupation Retail executive
Age 99 years old
Zodiac Sign Virgo
Born 22 September 1925
Birthday 22 September
Birthplace Sacramento, California, United States
Date of death Sacramento
Died Place N/A
Nationality

We recommend you to check the complete list of Famous People born on 22 September. He is a member of famous entrepreneur with the age 99 years old group.

Russell Solomon Height, Weight & Measurements

At 99 years old, Russell Solomon height not available right now. We will update Russell Solomon's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Physical Status
Height Not Available
Weight Not Available
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Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Family
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Wife Not Available
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Russell Solomon Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Russell Solomon worth at the age of 99 years old? Russell Solomon’s income source is mostly from being a successful entrepreneur. He is from . We have estimated Russell Solomon's net worth , money, salary, income, and assets.

Net Worth in 2023 $1 Million - $5 Million
Salary in 2023 Under Review
Net Worth in 2022 Pending
Salary in 2022 Under Review
House Not Available
Cars Not Available
Source of Income entrepreneur

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Timeline

2018

Solomon died of an apparent heart attack on March 4, 2018, according to the Sacramento Bee while drinking whiskey and watching the Academy Awards, after having just commented negatively on someone at the ceremonies' fashion choice.

2011

Russell Solomon was born in Sacramento, California and grew up there during the Great Depression. His father owned a small but successful business called Tower Cut Rate Drug Store, where Solomon worked from the age of 13, absorbing lessons from his father. He had little interest in school, and had a record of both showing up late as well as leaving early. He said in a January 2011 interview for the Sacramento Bee, that he "couldn't get up in the morning" so he'd get there about an hour before lunch and go home soon afterward. Solomon said he "was thrown out of high school," although he did take some classes at Sacramento Junior College. His lack of formal education did not appear to hinder him especially since he learned valuable business lessons from his father. Solomon also spent a lot of time with the photographers who processed film.

1970

Eight years later, Solomon signed a lease for a 5,000-square-foot (460 m) storefront in San Francisco. Encouraged by the immediate profitability of the second store, Russell Solomon expanded to Los Angeles in 1970 and added 26 more locations in the next ten years, including the Sapporo, Japan store in April 1980. Over the next decade, Tower Records spread across the globe selling books and videos in addition to music. In May 1998, MTS Inc. sold $110 million worth of notes to finance more international growth. They also received a $275 million line of credit from a group of large banks and one year later the company reported its first loss. Even though it made $76 million in the previous nine months, the interest payments had resulted in the company losing money. Although they continued to expand, Tower Records never recovered and, in 2006, the company was forced to liquidate and close. At one time, Solomon maintained a collage of neckties collected from visitors on the wall outside his office.

1961

In 1952, Solomon took his merchandising business from a few racks in the drug store owned by his father, Clayton, to a full-fledged sales company in a building across the street. He bought stock on credit and soon found himself in financial difficulties as sales failed to keep up with expenses. By 1960, his record company creditors had moved in and forced him to close. Solomon borrowed $5,000 from his father and started MTS Inc., named after his son, Michael. A month later, he was back in business with a new store at 2514 Watt Avenue Arden Arcade, Ca. a suburb of Sacramento, December 15, 1961, that formed the foundation for his international business.

1945

In 1945, Solomon married his first wife, Doris, and their first son, Michael, was born three years later. They also have a second son, David, born in 1962. Solomon and Doris separated in 1973, but remained on good terms. In 2010, he married Patti Drosins after a long friendship

1941

In 1941, when only sixteen, he sold used juke box records out of his father's drug store. When war broke out later that year, his business career was interrupted by military service. When the war was over, he returned to the drug store and his fledgling retail operation.

1925

Russell Malcolm "Russ" Solomon ( (1925-09-22) (2018-03-04)September 22, 1925 – March 4, 2018) was an American entrepreneur and art collector. He was most notable as the founder of the worldwide music store empire, Tower Records. He died aged 92.