Burt Shavitz Founder of Burt’s Bees dies at 80
Burt Shavitz, the founder of “Burt’s Bees,” died at his home in Bangor, Maine on Sunday. The iconic businessman was 80 years old and his net worth at the time of his death was nearly $5 million.
Shavitz left the city and lived in rural Maine by himself beginning in 1970. From there, he built his multi-million dollar business that was eventually sold to the Clorox Corporation in 2007. Shavitz originally came from Long Island, and worked in Manhattan as a photographer for Time and Life before heading to Maine.
He began to learn beekeeping and built his small hobby into a nationwide business. He started the company in early 90s with Roxanne Quimby, his partnership grew so large that the company was worth millions in no time. Quimby bought almost all the shares of Shavitz and sold 80% of shares for $173 million giving him only a part of the stakes, $4 million.
Burt’s Bee’s was sold for $900 million in 2007 to Clorox.
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