28 November 2020 20:31
Tony Hsieh, the former CEO of online shoe retailer Zappos has died, the company confirmed Saturday. Hsieh retired from the Las Vegas-based company in August, after 20 years at the helm. Under his leadership, Zappos became known for its customer service and employee-focused company culture. Hsieh wrote a best-selling autobiography titled "Delivering Happiness" that detailed his philosophy. Amazon acquired Zappos for $1.2 billion in 2009, and kept Hsieh on as CEO.
"Instead of mourning his transition, we ask you to join us in celebrating his life," their statement added. Read More TECH entrepreneur Tony Hsieh was the former CEO of shoe company Zappos. The millionaire passed away in a house fire on Friday while visiting family in Connecticut. 7 Tony Hsieh passed away on Friday in a house fire Credit: Getty Images - Getty Who was Tony Hsieh? Tony Hsieh, 46, was an American businessman and venture capitalist. He co-founded the Internet advertising network LinkExchange, which he sold to Microsoft in 1998 for $265million. 7 Hsieh was a tech entrepreneur and venture capitalist Credit: Getty Images - Getty Hsieh was also the CEO of Zappos, an online footwear company for nearly two decades. He also worked to revitalize downtown Las Vegas, pledging $350million in 2013 for redevelopment. 7 Hsieh co-founded Zappos with a business partner and the company was worth billions years later Credit: Getty Images - Getty How much did Hsieh sell Zappos for? Hsieh first invested in Zappos with business partner Nick Swinmurn. He joined Zappos in 2000 with a $16million investment and by 2009, the revenues had reached $1billion. 7 Hsieh and his partner sold Zappos to Amazon in 2009 for $1.2billion Credit: AP:Associated Press Did Tony Hsieh have a wife and children? According to sources, Hsieh did not have any wife or children. 7 Sources say Hsieh did not have a wife or children Credit: Getty Images - Getty It is unclear who will be responsible for his estate upon his passing. The entrepreneur's net worth amassed over $840million. How did Tony Hsieh die? Hsieh died from injuries sustained in a house fire that occurred in Connecticut while he was visiting family, his firm Downtown Partnership Las Vegas (DTP) confirmed. No further details have been released about his death. 7 No further details about Hsieh's death have been released Credit: AP:Associated Press In a statement, Zappos said: "The world has lost a tremendous visionary and an incredible human being. Most read in US News 'WORST ABUSE' Couple arrested for starving, torturing & tying up 10 & 11-year-old 'COMBAT SUPPORT' US carrier sent to Gulf 'as cover for troops' as Iran nuke boss killed HIDDEN TOLL Former salesman forced to live under bridge after Covid cost him job and home Warning MIRACLE MAN Teen who lost lower body after being crushed in forklift accident defies odds HEARTBREAK Pregnant teen found dead 1,400 miles from home after being missing for 5 weeks BIG YIKES Why is DiaperDon trending on Twitter? "We recognize that not only have we lost our inspiring former leader, but many of you have also lost a mentor and a friend. "Tony played such an integral part in helping create the thriving Zappos business we have today, along with his passion for helping to support and drive our company culture. "Tony's kindness and generosity touched the lives of everyone around him, as his mantra was of 'Delivering Happiness' to others. Tony Hsieh, the retired CEO of Las Vegas-based online shoe retailer Zappos.com who spent years working to transform the city's downtown area, has died. Hsieh was with family when he died Friday, according to a statement from DTP Companies, which he founded. Downtown Partnership spokesperson Megan Fazio said Hsieh passed away in Connecticut, KLAS-TV reported. Puoy Premsrirut, a lawyer for Hsieh, told news outlets that Hsieh had been injured in a house fire while visiting Connecticut. Additional details weren't immediately released. An official cause of death wasn't announced. "Tony's kindness and generosity touched the lives of everyone around him, and forever brightened the world," a DTP Companies statement said. "Delivering happiness was always his mantra, so instead of mourning his transition, we ask you to join us in celebrating his life." Hsieh recently retired from Zappos after 20 years leading the company. The online shoe retailer shared a tribute on social media late Friday. "The world has lost a tremendous visionary and an incredible human being," the statement said. "His spirit will forever be a part of Zappos." Hsieh was a Harvard University graduate who joined the company — then called ShoeSite.com — in 1999. Zappos was sold to Amazon for $1.2 billion in 2009, but Hsieh had remained with the company until his retirement. For years, he also worked to revitalize downtown Las Vegas, pledging $350 million in 2013 for redevelopment. The same year he moved Zappos' headquarters into the former Las Vegas City Hall building. "Tony Hsieh played a pivotal role in helping transform Downtown Las Vegas," Nevada Gov. Steve Sisolak tweeted Friday night. "Kathy and I send our love and condolences to Tony's family and friends during this difficult time." A wave of tributes poured out on social media as news of Hsieh's death spread. "Tony Hsieh might be the most original thinker I've ever been friends with," former venture investor Chris Sacca tweeted. "He questioned every assumption and shared everything he learned along the way. He genuinely delighted in making anyone and everyone happy." Skateboarder and entrepreneur Tony Hawk added, "Tony Hsieh was a visionary. He was generous with his time and willing to share his invaluable expertise with anyone." "A truly original thinker, a brilliant entrepreneur, and a kind-hearted and generous friend to so many," tweeted entrepreneur Max Levchin. Correction: This story has been updated to reflect the correct spelling of Tony Hsieh's last name.